United Kingdom: Tin Bar Market 2024

Tin Bar Market Size in the UK

The UK tin bar market fell rapidly to $X in 2022, with a decrease of -28.9% against the previous year. Overall, consumption faced a deep slump. Tin bar consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tin Bar Production in the UK

In value terms, tin bar production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a deep downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by 6%. Tin bar production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Tin Bar Exports

Exports from the UK

Tin bar exports from the UK skyrocketed to X tons in 2022, picking up by 71% against the year before. Over the period under review, exports posted strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 134%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, tin bar exports soared to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 91% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons), Kuwait (X tons) and Hong Kong SAR (X tons) were the main destinations of tin bar exports from the UK, together comprising 51% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +63.5%), while the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), Saudi Arabia ($X) and Hong Kong SAR ($X) constituted the largest markets for tin bar exported from the UK worldwide, together comprising 45% of total exports. China, Kuwait, Sweden, Bulgaria and Hungary lagged somewhat behind, together comprising a further 28%.

Kuwait, with a CAGR of +41.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tin bar export price stood at $X per ton in 2022, declining by -6.9% against the previous year. Over the period under review, the export price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the average export price increased by 94% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+5.7%), while the prices for the other major destinations experienced a decline.

Tin Bar Imports

Imports into the UK

In 2022, supplies from abroad of tin bars, rods, profiles and wires decreased by -55.5% to X tons, falling for the third consecutive year after four years of growth. Overall, imports saw a deep contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 69%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, tin bar imports declined rapidly to $X in 2022. Over the period under review, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of 77%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Thailand (X tons), Poland (X tons) and Hungary (X tons) were the main suppliers of tin bar imports to the UK, together accounting for 88% of total imports. Mexico, the United States, Indonesia, Germany and the Netherlands lagged somewhat behind, together accounting for a further 8.8%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +210.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of tin bars, rods, profiles and wires to the UK, comprising 60% of total imports. The second position in the ranking was taken by Poland ($X), with a 19% share of total imports. It was followed by Hungary, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value from Thailand totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-5.7% per year) and Hungary (+80.7% per year).

Import Prices by Country

The average tin bar import price stood at $X per ton in 2022, rising by 79% against the previous year. Overall, the import price posted a prominent increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+49.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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