Global Tin Market Report and Forecast 2024-2032

Global Tin Market Size

The global tin market reached around 406.80 KMT in 2023. The market is projected to grow at a CAGR of 1.2% between 2024 and 2032 to reach nearly 460.10 KMT by 2032.

Global Tin Market Outlook

• Globally, 15.4 Mt of tin exists on this planet, nearly 39% of which is CRIRSCO compliant.

• In 2022, Myanmar accounted for 77% of overall tin exports from China.

• 97% of the global tin supply comes from developing countries.

Global Tin Market Growth

The leading countries with CRIRSCO-compliant reserves of tin include Russia (29%), Australia (15%), DR Congo (9%), Brazil (8%), and Peru (9%). China is the largest producer and consumer of tin globally, accounting for nearly 30% of the global supply and 47% of overall consumption in 2022.

Tin is an essential raw material for semiconductor production. Nearly 50% of the global tin supply is used for joining circuit boards via electronic soldering. The emergence of new technologies such as autonomous vehicles, artificial intelligence, and the Internet of things is expected to double the demand for semiconductors by 2028, thereby substantially increasing the demand for tin.

Canned bottles have emerged as a safe and risk-free choice for packaging wine bottles (30%).  The global demand for cans is expected to increase at a CAGR of over 4% by 2026, thereby increasing the demand for tin in electroplating applications.

The rising adoption of solar power for decarbonising the power industry and minimising electricity bills is expected to enhance the demand for tin, which is extensively used as a solder ribbon to join solar cells in solar panels. As per the International Tin Association, the demand for solder ribbons is expected to double by 2030, which is expected to contribute to market growth.

Global Tin Industry Segmentation

Global Tin Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Metal

• Alloy

• Compounds

Market Breakup by Application

• Solder

• Tin Plating

• Chemicals

• Others

Market Breakup by End Use

• Automotive

• Packaging

• Glass

• Electronics

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa 

Global Tin Market Share

Based on region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-2032, the Asia Pacific is expected to grow at a CAGR of 1.4%, closely followed by Latin America (1.2%), the Middle East and Africa (1.3%), and North America (1.1%). This can be attributed to the anticipated rise in the adoption of electric vehicles, besides technological advancements in semiconductor production.

Leading Companies in the Global Tin Market

By 2030, electric vehicles are expected to constitute 50% of all new vehicle sales, thereby accelerating the demand for tin for manufacturing anodes in lithium-ion batteries, which leads to faster charging times.

• Aurubis AG

• ArcelorMittal S.A.

• Indium Corp.

• Malaysia Smelting Corporation Berhad

• Minsur S.A.

• Thailand Smelting and Refining Co., Ltd.

• PT Timah Tbk

• Yunnan Tin Group (Holding) Co., Ltd.

• Others

Key Highlights of the Report