Rising Demand from Food and Beverage Sector Creating Lucrative Opportunities for Global Tin Market

The global tin market has been witnessing significant growth in the last few years, owing to its rising demand from food and beverages and consumer electronics sectors. The demand for tin is rising on a global level as these industries are exhibiting an especially high growth rate in developing economies, thanks to their swift rate of industrialization and increasing consumerism. Apart from consumer electronics around, half of the annual consumption of tin goes into welding.

According to a research study by Transparency Market Research (TMR), in 2014, the global tin market was worth US$7.4 bn and is projected to reach a value of US$7.29 bn by the end of 2023. The market is estimated to register a 3.40% CAGR between 2015 and 2023. In this blog, TMR answers some of the vital questions related to the growth prospects, trends, and challenges in the global tin market.

What are the key factors driving the demand for tin?

The rising demand for tin from packaged foods is the primary factor expected to augment the growth of the global tin market in the next few years. Tin is used as a core material in most consumer electronics available commercially. In addition, the growing demand for tin from the food and beverages segment and soldering is another factor projected to propel the global tin market in the near future. With the development of the economy in emerging countries, the demand for packaged food is expected to rise at a fast pace, thus driving the overall market.

How has the re-emergence of tin mines in Myanmar affected the global tin market?

The emergence of Myanmar as a big producer of tin after a gap of six decades has been stated as a black swan event in the global tin market. The excess supply of tin from Myanmar has depressed the overall tin market. However, tin production in Myanmar is likely to level off in the next few years, owing to open pit mining in the Wa region. The mining activities have moved underground where the content of tin is comparatively lower. Nevertheless, a large section of Wa is still unexplored, thus carrying the potential to influence the global tin market, both positively and negatively, through the next few years.

Research Report:http://www.transparencymarketresearch.com/tin-market.html

How is competitive scenario in the global tin market?

The global tin market is highly fragmented in nature and is expected to experience stiff competition in the coming years. Metallo-Chimique International N.V., Guangxi China Tin Group, Minsur S.A., Thailand Smelting and Refining Co., Ltd., Yunnan Tin Group Company Limited, Empresa Metal├║rgica Vinto S.A., Yunnan Chengfeng Non-ferrous Metals Co., Ltd., Gejiu Zili Mining And Smelting Co., Ltd. are some of the key players operating in the global tin market. These players are emphasizing on improving their manufacturing capacities and generate new business projects within developing markets.


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