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The tin market size is projected to increase by USD 755.24 million, at a CAGR of 2% between 2023 and 2028.
The report includes a comprehensive outlook on the Market, offering forecasts for the industry segmented by Application, which comprises soldering, tin chemical, tinplate, lead acid battery, and others. Additionally, it categorizes End-user into electronics, automotive, packaging, glass, and others, and covers Regions, including APAC, Europe, North America, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
The market growth depends on several factors such as the rise in demand for lead-free soldering, the shifting focus toward recycling of tin, and the increase in the use of tin-free steel in the packaging industry.
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Tin is a chemical element with the symbol Sn and atomic number 50. It is a post-transition metal and, like other metals, is known for its malleability, ductility, and conductivity. Tin and its compounds have diverse applications in industry, including electronics, packaging, and metallurgy.
The soldering segment is estimated to witness significant growth during the forecast period. Soldering is done to bond the components placed on a printed circuit board (PCB) to enable electrical connections between them. To facilitate soldering, solder paste of different alloys are used. Tin is a key metal used in the soldering application of electronic components. Some of the common alloys used are tin-lead alloy, tin-antimony alloy, and tin-silver-copper alloy. These soldering pastes are widely used in semiconductors and PCBs of consumer electronics, marine, and automotive and aerospace components for electrical functions.
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The soldering segment was the largest segment and was valued at USD 3,500.11 million in 2018. Furthermore, soldering is a critical part of the manufacturing process of every electronic component. Though several manufacturers are adopting the miniaturization of electronics, the demand for soldering is high. Additionally, the consistent demand for tin in soldering applications is closely linked to the growth and evolution of technology, consumer preferences for electronic devices, and the need for reliable and efficient soldering materials across multiple industries, which will boost the growth of the market during the forecast period.
Based on the end-user, the market has been segmented into electronics, automotive, packaging, glass, and others. The electronics segment will account for the largest share of this segment. As electronic devices become smaller and more compact, surface mount technology (SMT) plays a crucial role. Tin is essential in the production of solder pastes and coatings used in SMT processes. Tin is used in the production of flexible electronic components and printed electronics. Furthermore, tin and tin alloys are used in bearing surfaces and electrical contacts due to their low friction and good conductivity. Due to such applications, the use of tin in the electronic industry is expected to surge, which, in turn, will drive market growth during the forecast period.
APAC is estimated to contribute 62% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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