TIN CHLORIDE MARKET ANALYSIS

Tin Chloride is a white, crystalline, powdered material, which is also called as stannous chloride. Tin chloride creates an aqueous solution that tends to endure hydrolysis, especially if it is hot. It has chemical formula SnCl2, however, it should not be confused with SnCl4 as it is the chemical formula for stannic chloride. Tin chloride is mostly used as a sensitizing agent for plastic, metallic, and glass surfaces to prepare plastics and metals for metalizing electronic components, mirrors. Tin chloride finds applications in various industries such as in packaging for packaged food, electronics, and metalized glazing. It is also used as a reducing agent for drilling, in thermoplastic elastomers, tin electroplating bath, polymers, tanning agent, and as a catalyst in the pharmaceutical industry.

Market Outlook

Global tin chloride market size is expected to expand significantly during the forecast period, owing to increasing demand for tin chloride from various industries worldwide. Increasing population around the globe is expected to increase the demand for canned food and vegetables. This is expected to increase the demand for tin chloride for the manufacturing of tin cans and subsequently support growth of the market. Tin canned food products and vegetables remain fresh for an extended period of time, ensuring their nutrient quality and flavor. Such benefits are expected to increase the demand for tin chloride. Furthermore, tin chloride finds application in the electronics industry for the manufacturing of electronic components and other industrial applications. Increasing demand for electronic products and components is expected to drive the market growth in the near future. Moreover, increasing the use of tin chloride catalysts in petrochemical refining is expected to increase the demand for tin chloride and hence support the market growth. Catalysts like tin chloride accelerate the chemical reaction rate at which it would reach equilibrium.

Food and electronics-related industries offer excellent potential for market players to enhance their revenues in the global tin chloride market during the forecast period.

Market Regional Analysis

Asia Pacific is expected to account for the largest market share in the global tin chloride market in the near future. This is owing to increasing demand for tin chloride from emerging economies such as India and China. Moreover, rapid growth showing by countries in Africa, the Middle East, and Latin America is expected to propel the market growth. Furthermore, growing population in counties is increasing the demand for tin chloride and subsequently supporting growth of the market.

Market Players

Major players operating in global tin chloride market include Yunnan Tin Group, Showa America, ACIMA Specialty Chemicals, The European Fine Chemicals Group (EFCG), Shanghai NANWEI Chemicals, Mason Corporation, Showa Kako Corporation, and Liuzhou China Tin Group Co., Ltd.

Key Developments

• In a research paper published on Journal of Advanced Research (Elsevier) in March 2019, scientists found that tin chloride acts as a catalyst to enhance the electro-catalytic activity during the synthesis of NiSn alloy nanoparticle. NiSn alloy is further used to manufacture urea fuel cells. New innovations in the electrical & electronics industry will further drive the growth of tin chloride market globally.
•  In July 2018, European Food Safety Authority (EFSA) has approved Stannous Chloride (Tin Chloride) to be used as a food additive. Tin chloride acts as an antioxidant as well as provides color retention. Increasing demand for tin chloride in food & beverage industry is set to drive the global tin chloride market.
• In January 2018, in a research article published on Journal of Nanoscience and Nanotechnology (ASP) studied the use of tin chloride in the synthesis of SnS2 nanoparticles which is further used as a photocatalyst. Increasing use of tin chloride for nanotechnology application is driving the global tin chloride market.