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Tin (Sn) is a silvery white metal with a bluish tinge belonging to the carbon family. Tin chemicals include tin (II) sulfates and chlorides, tin methane sulfonates, and alkaline sodium and potassium stannate. The product has primary application in electroplating industry, where it is utilized to create tin surfaces with unique decorative or functional properties. Increasing adoption of tin chemicals in the industrial application including electroplating, reducing agents, chemical catalysts, and glazes coupled with rising product advancement will fuel themarket growth.
The increasing demand for PVC stabilizers from various application will boost the adoption of tin chemicals. The properties of tin chemicals such as high transparency, and good color retention makes it a prefered choice in PVC stablizers. Moreover, the high consumption of PVC stablizers can be seen in the construction industry. Here, the material is highly adopted in the manufacturing of window profiles, pipes and fittings, wires and cables, rigid and semi-rigid films, flooring, and coatings. The rapid growth in construction industry and increasing advancement in chemicals will drive the demand PVC stabilizers, thereby fuel the tin chemicals market growth.
However, according to USGS, tin is a rare element, with a relative abundance of about 2 parts per million (ppm) in the earth's crust, compared to 63 ppm for copper, 94 ppm for zinc, and 12 ppm for lead. Hence, this is anticipated to hamper the market growth.
Key Market Driver -
The increasing demand for PVC stabilizers will drive the adoption of tin chemicals.
Key Market Restraint -
Unavailability of tin to hamper the market growth
Based on type, the tin chemicals market is segmented into sodium stannate, stannous chloride, stannic chloride, stannous oxalate, stannic sulphate, and others. Based on application, the market is segmented electroplating, pvc stabilizers, chemical intermediates, and others. Based on end-use, the market is segmented into chemical, automotive, construction, packaging, electronics, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the tin chemicals market include TIB Chemicals AG, Mason Corporation, GFS Chemicals, Showa America, S V Plastochem Private Limited, William Blythe, Haihang Industry Co.,Ltd, Strem Chemicals, Todini Metals And Chemicals India Pvt Ltd., and BNT chemicals.
The Asia Pacific is accounted to witness the highest growth in the tin chemicals market. The growth is attributed to the rising adoption of the product in the chemical industry, in which China is the leading country. The high demand of product for automotive applications will fuel the market growth in Europe. In North America, the market is estimated to grow with sustainable growth due to the rising demand for sodium stannate and sodium chloride in the construction industry. The Middle East & Africa is anticipated to witness significant growth, owing to rising product utilization in the packaging industry. In Latin America, the growth is associated with the increasing use of stannic suphate in the chemical industry.
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