IndustryARC, in its latest report, predicts that Tin Market size is estimated to reach US$ 7.9 billion by 2027, growing at a CAGR of around 4.2% from 2022 to 2027. The tin is a silver colored post transitional metal, majorly derived from mineral cassiterite. The tin has superior features such as ductility, malleability, and corrosion resistance. It is often combined with other metals to make alloys that provide properties of tin. The tin has major applications in the batteries, hydrogen generation, plating, soldering, and others. The tin works well with germanium for usage in the semiconductor and electronics. The high demand of tin in electric vehicles and consumer electronics is driving the Tin Market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Key takeaways:
1. The Tin Market size will grow due to rising demand in the consumer electronics, automotive components, packaging, and aerospace during the forecast period.
2. The Asia Pacific region is the fastest growing region in the global tin industry due to its rising electronics production, growing food & beverage sector, and rise in tin reserves in major countries such as China.
3. The soldering application of the tin is growing owing to superior joint features and strong glue mechanism in electronics, metal work pieces, and others.
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Segmental Analysis:
1. By application, the soldering segment held the largest global Tin Market share and is expected to grow by over 3.7% during the forecast period. The demand of tin for soldering is rising due to its growing applications in the electronics sector. It is used with other metal alloys to join the electrical circuits, pipelines, and metal work pieces owing to its high tensile strength, corrosion resistance, and durability.
2. By geography, the Asia Pacific segment is the fastest-growing region in the Tin Market and will grow by over 3.6% during the forecast period. The growth of Tin Market in this region is influenced by high contribution automotive, electronics, food & beverage, and other end-use sectors. The increasing production of automotive in major countries such as China, India, and others is propelling the application and demand of tin and alloys for fuel tanks, radiators, wiring, and others.
3. By end-use industry, the electronics segment holds the largest global Tin Market share and will grow at a CAGR of over 4.0% during the forecast period. The demand of tin in the electronics sector is growing due to its rising application and usage in consumer electronics, home appliances, industrial electrical equipment, and others. It is due to its properties such as high tensile strength, corrosion resistance, and malleability. The tin solders are majorly used in the semiconductor and electronics sector.
Competitive Landscape:
The top 5 players in the Tin industry are –
1. Minsur SA
2. Malaysia Smelting Corp. Berhad
3. Thailand Smelting and Refining Co. Ltd.
4. Yunnan Tin Co. Group Ltd
5. PT TIMAH Tbk
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