Tin Chemicals Market Insights
Tin chemicals are either inorganic compounds or organotin compunds which contain at least one bond between carbon and tin, and are primarily used in electroplating industry to produce tin surfaces with particular decorative or functional properties. Usage of a range of tin chemical variants is significant in traditional markets of electroplating such as giftware, wires, and tinplate. Tin chemicals are also largely used in PVC stabilizers where they have specific technical advantages. In the recent years, tin chemicals have gained a number of industrial applications including surfaces treatment, plating, catalysts, reducing agents, glazes, and energy and electronic devices.
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Tin Chemicals Market – Notable Developments
Yunnan Tin Company Group Limited (YTC), Songxiang Chemical, DuPont and Dow, Mason Corporation, Westman Chemicals Pvt., TIB Chemicals, Showa America, Hubei Xinghuo, Lorad Chemical Corporation, PT. Timah Industri, William Blythe, BNT Chemicals GmbH (IBU-tech owned), and Keeling & Walker are among key players operating in tin chemicals market.
- In July 2018, BNT Chemicals GmbH that manufacturers its own, mainly tin chemicals such as tin chlorides and tin-based catalysts was fully acquired by IBU-tec Group. TIB Chemicals, however, continues to be a strong partner of BNT Chemicals GmbH.
- In December 2017, PT. Timah Tbk, global tin mining company and a leading player of tin chemicals market, signed a joint venture with Topwide Ventures Ltd, Nigeria for the management of exploration, mining processing, purification, and transportation, sales & marketing of tin and derived minerals in Nigeria.
- According to the International Tin Association (ITA), lithium-ions batteries may represent a significant new tin use in the years to come, as it identified a strongly increasing interest in tin in energy materials and technologies. Further, ITA found nearly nine technological opportunities for tin in lithium-ion batteries.
- ITA also reported that tin chemicals have become the second largest use of tin after growing by 7% in 2014 from a year earlier. High price of tin has brought a gradual decline to tin chemicals market, but several specialist innovative applications may grow in the near future.
Tin Chemicals Market Dynamics
Advancements in Chemical Industry to Complement Market Growth
Global demand for tin has been on the rise due to significant advances in chemical industry in recent years. In addition, there has been an increasing use of tin plating among various industries to ensure protection and safety of many products and systems. These are the important factors boosting growth of the tin chemicals market at global level. Further, growing use of tin chlorides such as stannous chloride dehydrate and stannous chloride anhydrous for applications in metalized glazing, electric components, and even in food industries for tin packed food, is expected to create potential growth prospects for market of tin chemicals.
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Tin Chemicals Market to Witness Steady Growth in Asia Pacific
In 2017, China was the largest producer and consumer of tin, with rapid growth in automotive sector and other industries. Rising demand for tin chloride in food, electronic, and glazing industries in the Asia Pacific region on the account of growing disposable along with rapid industrialization is likely to fuel the future expansion of tin chemicals market. A focus on installation of robust manufacturing facilities in developing countries such as China and India to meet the consistently rising local demand remains one of the key growth strategies for manufacturers of tin chemicals.
Although tin chemicals market is expected to maintain a positive outlook, concerns about tin supply such as ethical sourcing regulation and similar regulatory pressures on catalysts market, especially in Europe, may impede the demand for tin chemicals.
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