Global Tin Market 2023

Tin Market Size

For the third consecutive year, the global tin market recorded growth in sales value, which increased by 2.8% to $X in 2022. Overall, consumption, however, saw a relatively flat trend pattern. Global consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Tin Production

In value terms, tin production amounted to $X in 2022 estimated in export price. Overall, production recorded a pronounced downturn. The pace of growth was the most pronounced in 2016 when the production volume increased by 14%. Over the period under review, global production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Tin Exports

Exports

In 2022, overseas shipments of tin decreased by -8.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports showed a noticeable slump. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. Over the period under review, the global exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tin exports skyrocketed to $X in 2022. In general, exports, however, saw a pronounced increase. The growth pace was the most rapid in 2021 with an increase of 115% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Indonesia was the key exporting country with an export of about X tons, which accounted for 36% of total exports. Peru (X tons) took the second position in the ranking, followed by Malaysia (X tons), Singapore (X tons), Bolivia (X tons), Brazil (X tons), Belgium (X tons) and China (X tons). All these countries together held approx. 48% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tin exports from Indonesia stood at -2.4%. At the same time, China (+20.0%), Brazil (+6.9%) and Belgium (+4.0%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in the world, with a CAGR of +20.0% from 2012-2022. Bolivia experienced a relatively flat trend pattern. By contrast, Peru (-1.3%), Singapore (-5.5%) and Malaysia (-7.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Brazil, Belgium and Bolivia increased by +4.3, +3.3, +2.4 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest tin supplier worldwide, comprising 53% of global exports. The second position in the ranking was held by Peru ($X), with a 7.1% share of global exports. It was followed by Singapore, with a 6% share.

In Indonesia, tin exports expanded at an average annual rate of +8.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (+0.8% per year) and Singapore (-1.2% per year).

Export Prices by Country

In 2022, the average tin export price amounted to $X per ton, surging by 31% against the previous year. Over the period under review, the export price posted buoyant growth. The most prominent rate of growth was recorded in 2021 an increase of 76% against the previous year. The global export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+10.9%), while the other global leaders experienced more modest paces of growth.

Tin Imports

Imports

In 2022, supplies from abroad of tin decreased by -11.8% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports showed a mild decline. The pace of growth appeared the most rapid in 2021 when imports increased by 25%. Over the period under review, global imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tin imports dropped modestly to $X in 2022. Overall, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +86.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 92% against the previous year. As a result, imports reached the peak of $X, and then fell slightly in the following year.

Imports by Country

The countries with the highest levels of tin imports in 2022 were Singapore (X tons), the United States (X tons), Japan (X tons), Germany (X tons), South Korea (X tons), India (X tons), Taiwan (Chinese) (X tons), the Netherlands (X tons), Spain (X tons), Italy (X tons), Austria (X tons) and Turkey (X tons), together reaching 80% of total import. France (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Turkey (with a CAGR of +9.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 40% share of global imports. South Korea, Singapore, India, the Netherlands, Taiwan (Chinese), Spain, Turkey, Italy, France and Austria lagged somewhat behind, together accounting for a further 42%.

Turkey, with a CAGR of +14.9%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tin import price amounted to $X per ton, with an increase of 10% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin import price increased by +68.6% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 53%. Global import price peaked in 2022 and is expected to retain growth in years to come.

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 South Korea ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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