Tin Chemicals Market - Size, Share, Outlook, and Opportunity Analysis, 2019-2027

Tin Chemicals Market - Size, Share, Outlook, and
Opportunity Analysis, 2019-2027
Tin is a soft, silvery white metal widely used in tin-coated steel food containers, in metals
used for bearings, in solders, and others. According to International Tin Association, tin
chemicals represented for the second largest use of refined tin, accounting for around 17% of
the global refined tin market in 2017. Tin chemicals are compounds that contain at least one
bond between carbon and tin and are primarily used in industrial applications such as
electroplating, chemical catalysts, reducing agents, glazes, surface treatment chemicals,
electronic devices, and others. They can be segmented into numerous product types, namely
sodium stannate, stannous chloride, stannic chloride, stannous oxalate, stannic sulphate, and
others.
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Among applications, PVC stabilizers segment is expected to witness significant market share
in the market over the forecast period. This is owing to excellent properties of tin chemicals
such as good color retention, high transparency, and early coloring. Moreover, according to
European Stabilizer Producer Association (ESPA), tin stabilizers are also approved for use in
food contact applications, potable water applications, and in rigid medical applications.
Increasing use of PVC in the construction industry is one of the factor driving growth of the
global tin chemicals market. For instance, according to Federation of Indian Chambers of
Commerce & Industry (FICCI), in 2015, construction activities accounted for around 60% of
the global PVC market
.
Moreover, key players in the PVC market such as Shin-Etsu, Westlake Chemical, and
Formosa Plastics are focused on expanding their PVC plants to enhance their market share.
For instance, Formosa Plastics is announced a 136,077 mt/year PVC capacity expansion at its
already existing 470,000 mt/year PVC plant in Louisiana, U.S., by fourth quarter of 2021.
Therefore, increasing PVC production is expected to lead to high demand for PVC
stabilizers, which in turn is expected to propel demand for tin chemicals.
Increasing use of tin plating among various industries coupled with significant advancements
in the chemical industry is expected to fuel demand for tin chemicals. Various product types
of tin chemicals are used in chemical industries as intermediates and/or catalysts. For
example, stannous chloride is used as a catalyst in the production of polylactic acid (PLA).
Stannous oxalate is used as a catalyst in esterification reactions and stannic chloride is used in
the production of various inorganic chemicals. Growing chemical industries in emerging
economies is expected to fuel demand for tin chemicals. For instance, BASF— a key
chemical producer — reported growth of 4.2% in chemical production (excluding
pharmaceutical) during 2019-2021 in the emerging markets of Asia Pacific.
Development of alternatives to tin chemicals has significantly increased the threat of
price-based substitutions. For instance, calcium-zinc products can be used as PVC stabilizers
as they are cheaper than tin stabilizers. Iron sulphate is an alternative to stannous sulphate or
stannous chloride in cement additives application. However, inferior properties of these
alternatives have prevented them from penetrating deep into the market. Furthermore,
increasing tin prices are considered as a challenge for growth of the tin chemicals market. Tin
prices have been on the high since 2015. According to London Metal Exchange, tin prices
have increased by 55% since June 2015, reaching US$ 21750 per ton in Feb 2019. Therefore,
increasing prices and development of new alternatives to tin chemicals is expected to restrain
growth of the tin chemicals market.
The global tin chemicals market was pegged at 61.7 Kilo Tons (KT) in 2018, and is expected
to register a CAGR of 2.75% in terms of volume to reach 77.4 KT by 2027 over the forecast
period (2019 – 2027).
Asia Pacific is expected to hold dominant position in the global tin chemicals market. Tin
chemicals are utilized in wide range of applications related to basic commodity market such
as plastics, metal and glass plating, adhesives, and others in the region. Growth of tin
chemicals market in Asia Pacific is attributed to increasing usage of PVC in the region.
Decline in the use of lead stabilizers has benefited tin chemicals for its use in potable water
pipes. International Tin Association Limited reported 8-10% growth per annum for PVC
stabilizers in China till 2020, which is twice the global growth rate.
Moreover, increasing demand for tin chemicals from various end-use industries such as
packaging, chemical, automotive, construction, and electronics is expected to drive the tin
chemicals market growth during the forecast period. For instance, according to India Brand
Equity Foundation (IBEF)—part of the Department of Commerce, Ministry of Commerce
and Industry, Government of India— India construction industry is expected to emerge as the
third largest construction industry worldwide, witnessing an annual average growth rate of
7.4% till 2025.
Players operating in the global tin chemicals market are adopting various growth strategies
such as mergers and acquisitions in order to enhance their market share. For instance, in
2018, BNT Chemicals — a subsidiary of TIB Chemicals — was acquired by the thermal
material handling service provider IBU-tec.
Major players operating in the global tin chemicals market include, Mason Corporation, Ace
Chemical Company, City Chemicals LLC, TIB Chemicals AG, Pfaltz & Bauer Inc., GFS
Chemicals, Showa America, S V Plastochem Private Limited, Westman Chemicals Pvt,
William Blythe, Haihang Industry Co.,Ltd, and Strem Chemicals.
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The global tin chemicals market was pegged at 61.7 Kilo Tons (KT) in 2018, and is expected to register a CAGR of 2.75% in terms of volume to reach 77.4 KT by 2027 over the forecast period (2019 – 2027).

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