ASEAN: Market for Tin Ores And Concentrates 2024

Market Size for Tin Ores And Concentrates in ASEAN

In 2022, the ASEAN tin ores and concentrates market decreased by -29.7% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, showed temperate growth. As a result, consumption reached the peak level of $X, and then dropped rapidly in the following year.

Production of Tin Ores And Concentrates in ASEAN

In value terms, tin ores and concentrates production shrank to $X in 2022 estimated in export price. In general, production, however, saw a moderate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 47%. The level of production peaked at $X in 2021, and then shrank in the following year.

Exports of Tin Ores And Concentrates

Exports in ASEAN

In 2022, shipments abroad of tin ores and concentrateses decreased by -10.1% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed a noticeable expansion. The pace of growth was the most pronounced in 2014 with an increase of 231% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, tin ores and concentrates exports declined significantly to $X in 2022. In general, exports, however, posted resilient growth. The growth pace was the most rapid in 2014 when exports increased by 261% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Lao People's Democratic Republic (X tons) and Vietnam (X tons) represented the main exporters of tin ores and concentrateses in ASEAN, together comprising 74% of total exports. Indonesia (X tons) ranks next in terms of the total exports with a 17% share, followed by Malaysia (4.9%). Myanmar (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +48.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Lao People's Democratic Republic ($X), Vietnam ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 91% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +75.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, falling by -9.7% against the previous year. Export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin ores and concentrates export price increased by +62.6% against 2017 indices. The pace of growth was the most pronounced in 2020 when the export price increased by 35%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+18.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Tin Ores And Concentrates

Imports in ASEAN

After two years of growth, overseas purchases of tin ores and concentrateses decreased by -27.5% to X tons in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 59%. As a result, imports reached the peak of X tons, and then contracted sharply in the following year.

In value terms, tin ores and concentrates imports fell dramatically to $X in 2022. In general, imports, however, showed a remarkable increase. The growth pace was the most rapid in 2021 when imports increased by 164%. As a result, imports attained the peak of $X, and then dropped significantly in the following year.

Imports by Country

Thailand (X tons) and Malaysia (X tons) dominates imports structure, together comprising 93% of total imports. Myanmar (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +136.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tin ores and concentrates importing markets in ASEAN were Thailand ($X), Malaysia ($X) and Myanmar ($X), together accounting for 98% of total imports.

Myanmar, with a CAGR of +254.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, surging by 14% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin ores and concentrates import price increased by +89.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 66%. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Myanmar ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+50.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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