Southern Asia: Tin Bar Market 2024

Tin Bar Market Size in Southern Asia

The South Asian tin bar market contracted slightly to $X in 2022, remaining stable against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Tin Bar Production in Southern Asia

In value terms, tin bar production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 27%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Tin Bar Exports

Exports in Southern Asia

In 2022, shipments abroad of tin bars, rods, profiles and wires decreased by -38.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 122% against the previous year. The volume of export peaked at X tons in 2021, and then shrank sharply in the following year.

In value terms, tin bar exports declined sharply to $X in 2022. In general, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 116% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined rapidly in the following year.

Exports by Country

The shipments of the one major exporters of tin bars, rods, profiles and wires, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the tin bars, rods, profiles and wires exports, with a CAGR of +7.6% from 2012 to 2022. India (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest tin bar supplier in Southern Asia.

In India, tin bar exports increased at an average annual rate of +15.8% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, increasing by 36% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin bar export price increased by +55.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 75% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +7.6% per year.

Tin Bar Imports

Imports in Southern Asia

In 2022, supplies from abroad of tin bars, rods, profiles and wires increased by 18% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports recorded buoyant growth. The growth pace was the most rapid in 2021 with an increase of 42%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, tin bar imports soared to $X in 2022. In general, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 103%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

India was the largest importer of tin bars, rods, profiles and wires in Southern Asia, with the volume of imports recording X tons, which was near 80% of total imports in 2022. Sri Lanka (X tons) held the second position in the ranking, followed by Pakistan (X tons). All these countries together held approx. 17% share of total imports. Bangladesh (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +7.5% from 2012 to 2022. At the same time, Pakistan (+18.4%), Sri Lanka (+8.4%) and Bangladesh (+6.8%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +18.4% from 2012-2022. From 2012 to 2022, the share of India, Pakistan and Sri Lanka increased by +9.7, +4.2 and +2.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported tin bars, rods, profiles and wires in Southern Asia, comprising 84% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a 13% share of total imports. It was followed by Bangladesh, with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +11.5%. In the other countries, the average annual rates were as follows: Sri Lanka (+14.9% per year) and Bangladesh (+13.6% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, rising by 17% against the previous year. Import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin bar import price increased by +67.1% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by 43% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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