Tin Market is to Touch $8.9 Billion by 2030; Growing utilization in food and beverage packaging and Increasing demand from the electronics sector propels market growth.

The Tin Market size is estimated to reach $8.9 Billion by 2030, growing at a CAGR of 4.2% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Tin Market – By Purity (Above 99.99%, 99.99%, and Below 99.99%), By Product (Alloys, Metals, Compounds, and Others), By  Application (Soldering, Tin Plating, Lead-acid Batteries, Coatings, Hydrogen Generation, Fuel Cells, and Others), By End-User Industry (Electronics (Consumer Electronics, Industrial Electronic Equipment, Home Appliances, and Others), Automotive (Passenger Vehicle and Commercial Vehicle), Food & Beverage, Construction (Commercial, Industrial, and Residential), Aerospace, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030” Growing utilization in food and beverage packaging and Increasing demand from the electronics sector are fueling the growth of the Tin industry during the forecast period.

The Asia Pacific region is poised to be the fastest-growing segment in the Tin Market, with an anticipated growth rate exceeding 4.6% during the forecast period. This growth is driven by significant contributions from various sectors, including automotive, electronics, food and beverage, and other end-use applications. The surge in automotive production in key countries such as China and India is particularly noteworthy, as it fuels the demand for tin and its alloys in applications like fuel tanks, radiators, wiring, and more. According to the China Association of Automobile Manufacturers (CAAM), passenger car sales in China rose by 6.7% year-on-year in September 2023. The Asia Pacific region plays a crucial role in the electronics sector, further driving the demand for tin in solders, plating, coatings, and wiring. The growing consumer electronics market, coupled with increased packaging needs and the automotive sector's expansion, has led to a heightened demand for tin in these applications. Consequently, as tin production in China rises and the demand for tin-lead alloys and compounds—such as stannous fluoride and tin oxide—grows for modern applications, the global Tin Market is set to experience significant growth in the coming years.

Tin is experiencing increasing demand in the electronics sector, particularly for applications in printed circuit boards, wiring, electrical components, and various consumer electronic devices. Its alloys, such as germanium-tin alloy, are utilized in high-speed metal oxide semiconductor field-effect transistors, optoelectronics, and more. The rise in production of smart home devices and consumer electronics—such as PCs, TVs, and tablets—is significantly driving the tin market. According to the Retailers Association of India (RAI), sales of consumer electronics surged by 37% from April 2022 to March 2023 compared to the previous year. Consequently, the expanding electronics industry, particularly in consumer electronics, is enhancing the demand for tin and creating substantial growth opportunities in the market.

The demand for tin in food and beverage packaging is significantly high due to its properties, including corrosion resistance and rust protection. Tin cans are widely utilized in the food and beverage sector for storing a variety of products, such as beverages, dry foods, pet foods, and ready-to-eat items. In these applications, tin is often coated with other metals like steel or aluminum. According to the U.S. Census data and the Simmons National Consumer Survey (NHCS), around 218 million units of canned, jarred, and packaged fruit are expected to be consumed in the United States in 2024. Additionally, the increasing global demand for packaged food cans is driving the growth of the tin market, presenting substantial opportunities for expansion.

Key companies profiled in the Tin Market are Yunnan Tin Malaysia Smelting Corp. Berhad, PT Timah, Minsur, Thaisarco, Yunnan Chengfeng, Guangxi China Tin, EM Vinto, Hindustan Tin Works Ltd, Ardagh Group S.A. and others.