Pune, India -- (SBWIRE) -- 01/22/2020 -- Infinium Global Research has added a new report on Tin Market (Product Type - Metal, Alloys, and Compounds; Application - Tin Plating, Chemicals, Solder, Specialized Alloys, Lead-acid Batteries, and Chemicals; End-user Industry - Electronics, Automotive, Packaging, Glass, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024. According to the report, the global tin market is projected to grow at a CAGR of 2.24% over the forecast period of 2018-2024.

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Tin is a crystalline silvery-white metal that belonging to the carbon family. Tin provides high resistance to water, acids, and alkalis. Tin is widely used for plating steel cans. Tin along with oxygen used as a catalyst to accelerate the chemical reaction. Tin offers excellent solderability and Decent contact resistance. Tin used in several industrial coating applications.

Recycling of Tins is Expected Creates Opportunities for Emerging Industry Players

The high consumption of tin in corrosion protection applications is the key factor that drives the growth of the tin market worldwide.  It is also used in the plating steel cans that are widely utilized in the manufacturing of food containers. Thus, this contributes to the growth of the tin market. However, Side effects of the tin supplement may cause skin reactions. Moreover, the growing use of tin in the electronics industry as the eco-friendly soldering element is projected to several opportunities for tin in the upcoming years. Additionally, the growing use of tin alloys in lithium-ion batteries and the Recycling of tin are expected creates opportunities for emerging market players in the near future.

Global Tin Market is Segmented into Product Type, Application, and End-User Industry

On the basis of product type, the market is categorized into metal, alloys, and compounds. The tin metal is the compound that mainly used as a coating metal to coat the other metal to prevent them from corrosion. Additionally, the tin alloys are majorly used in the formation of food packaging as tin cans owing to its low toxicity. Thus, the growing consumption of tin in the food packaging drive the growth of the tin market.

In terms of application, the market is segmented as tin plating, chemicals, solder, specialized alloys, lead-acid batteries, and chemicals. Furthermore, by end-users, the market is categorized into electronics, automotive, packaging, glass, and others. The growing electronics and automotive sectors across the world are favoring the tin market.

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Tin Market: Regional Insight

Geographically, The Asia Pacific holds the maximum market share in the tin market. It expected to be the dominating region through the forecast period. China is one of the major producers in the Asia Pacific. Rapidly growing electronics and the automotive industry in China, India promotes the growth of the tin market in this region. Additionally, North America and Europe hold a considerable share in the tin market due to the high consumption of steel across various industry verticals.

Tin market: Competitive Analysis

The major players in the tin market include Metallo Chimique international NV, Minsur S.A., YUNNAN TIN COMPANY GROUP LIMITED, Yunnan Chengfeng Nonferrous Metals Co., Ltd., PT TIMAH Tbk., DuPont and Do, ArcelorMittal, Indium Corporation, and others.

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The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The tin market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the tin market.