Global Tin Chemicals Market was valued at 66.52 KT in 2021, According to The Global Tin Chemicals Market Report, by Product Type (Sodium Stannate, Stannous Chloride, Stannic Chloride, Stannous Oxalate, Stannic Sulphate, and Others), by Application (Electroplating, PVC Stabilizers, Chemical Intermediates, and Others), by End-use Industry (Chemical, Automotive, Construction, Packaging, Electronics, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights
Global tin chemicals market was valued at 66.52 KT in 2021. Tin chemicals market is expected to register a CAGR of 2.67% over the forecast period (2022–2030), to reach 84.25 KT by 2030.
Global demand for tin chemicals has been on the due to their application in various industries such as chemical, automotive, construction, packaging, and electronics. Increasing use of tin chemicals in electroplating applications among various industries for protection and safety of various products coupled with significant advancements in chemical industry in the recent past has boosted growth of tin chemicals market. Increasing use of tin chemical product types such as stannous chloride and stannic chloride for applications in PVC stabilizers, catalysts, metalized glazing, electric components, and even in food industries for tin packed food is expected to create potential growth prospects for tin chemicals market.
The COVID-19 had a significant impact on companies across the tin chemicals market. With vaccination being rolled out worldwide, the recovery in the tin chemicals market is more optimistic for 2022 and beyond. Overall, the global tin chemicals market is forecast across multiple growth scenarios including low growth, reference case, and high growth case scenarios.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/tin-chemicals-market-2574
Browse 50 market data tables* and 40 figures* on "Global Tin Chemicals Market” - Forecast to 2030.
Key Trends and Analysis of the Global Tin Chemicals Market:
- Among regions, Asia Pacific accounted for a significant market share of 39% in 2021. Owing to growing packaging industry in emerging countries such as India. According to Wisconsin Economic Development Corporation in 2020, India packaging industry accounted for US$ 32 billion in 2020, and is expected to witness a CAGR of 13-15% during the forecast period.
- Tin metals are easily alloyed with many other base metals, adhering to healthy environmental norms. The electronics and electrical industries use solders containing 40-70% tin, which provides strong and reliable joints under a variety of environmental conditions. At present, the majority of the assemblers use patented tin-copper-based solders. The average proportion of lead-free soldiers in the electronics industry increased to 79% globally in 2020 from 2019. 73% of specified tin that is used globally in lead-free solders contained less than 100 ppm of lead. The trend toward higher-purity, lower-lead specifications in tinplate continued in 2019, as 47% of refined tin used contained less than 50ppm of lead, which has enhanced its use in soldering applications
Key Takeaways of the Global Tin Chemicals Market:
- According to Coherent Market Insights in 2021, among application, electroplating segment held largest revenue share of 55% in the global tin chemicals market in 2021. Electroplating is widely used in manufacturing electronic components, printed wiring boards (PWBs) and printed circuit boards (PCBs), food and beverage cans, food storage containers, and engine bearings. Tin coating prevents corrosion of metals in aggressive atmosphere. Stannous chloride or stannous sulphate are commonly used in acid tin plating baths for use in plating steel wires and automotive pistons. Moreover, stannous methane sulphonate is used in high-speed plating system in the electronics industry. Therefore, significant growth of the electronics industry is expected to further help drive the tin chemicals market growth.
- Key players operating in the tin chemicals market are focusing on various strategies in order to strengthen their market presence and expand their product portfolio. For instance, in December 2020, ArcelorMittal, a Luxembourgian multinational steel manufacturing corporation completed the sale of ArcelorMittal USA LLC, its subsidiaries, and the mill in Weirton that makes tin, for 183 KT, to Cleveland-Cliffs..
