Global demand for the high purity tin market was valued at approximately USD 6.53 billion in 2018 and is anticipated to generate revenue of around USD 8.25 billion by end of 2025, growing at a CAGR of around 3.4% between 2019 and 2025.
The report covers forecast and analysis for the high purity tin market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD billion) and volume (Kilotons). The study includes drivers and restraints for the high purity tin market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the high purity tin market on a global as well as regional level.
As per the report, the global demand for the high purity tin market was valued at approximately USD 6.53 billion in 2018 and is anticipated to generate revenue of around USD 8.25 billion by end of 2025, growing at a CAGR of around 3.4% between 2019 and 2025.
High purity tin metal is generally utilized in making of high purity alloy, compound semiconductor, electrical conduction material, and solder. High purity tin metal is used as a protective coat for other metals. It offers a protective oxide layer to prevent oxidation.
The global high purity tin market is experiencing significant growth that is anticipated to continue over the upcoming years. The massive rise in demand for high purity tin by growing industrial activities is likely to act as a key driver of the market. Increasing investments in industrial activities, along with increasing demand for high purity tin from the electronics industry for electronics design materials are expected to propel the high purity tin market in the upcoming years. Increasing urbanization, rapid industrialization, and population growth are expected to increase the demand for high purity tin during the years to come. The raw material availability and price volatility act as a restraining factor that may hamper the growth of the high purity tin market. The improved manufacturing process and technological innovations in emerging countries are likely to set new opportunities for the major players of the market.
The global high purity tin market is mainly segmented into type, application, and region. By type, the high purity tin market is mainly segmented into 5N Tin, 6N Tin, and 7N Tin. By application, the global high purity tin market is mainly segmented into a superconducting material, tin alloy, solder, pyroelectric materials, and others.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In terms of revenue, the Asia Pacific region was the leading region in 2018. Furthermore, rapid urbanization and industrialization contribute to fueling the market growth in the region.
The major players of the global high purity tin market include Thaisarco, ESPI, JGI, Yunnan Tin Company, Dongfang Electric Corporation, Vital, Pure Technologies, Zhuzhou Sinotech, Sichuan Western Minmetals, ENF Solar, and Nathan Trotter, among others.