Indium Market Size is Estimated to Reach USD 931.5 Million by 2030

Global Indium Market is expected to reach the market value of around USD 931.5 Million by 2030 and is expected to grow at a CAGR of around 9.1% in terms of revenue during the period 2022 - 2030. Indium is a metal which is soft silvery-white in color and occurs naturally combined with zinc and other metals. Indium offers some unique features such as high rate of thermal transfer, unique bonding with non-metallic substances, softness, consistent properties at cryogenic temperatures and cold welding. Indium Tin Oxide (ITO) is gaining popularity over its substitute products as it is one of the forms which is obtained from tin oxide and indium oxide in a ratio of 9:1 by weight and is transparent and colorless. It bolsters the market due to its properties such as ultraviolet resistance, color fastness, and high transparency.

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The use of indium tin oxide in transparent electrodes for LCD screen due to rise in demand for televisions, flat screen monitors, screens for cell phones, tablets computers, and other portable electronic devices drives the growth of indium market. Furthermore, rise in demand of indium in aircraft engines, photovoltaic cells and electroluminescent lamps boost the growth of market. However, the huge demand-supply gap and instability in price may curb the growth of market.

Regional Outlook

By geography, the market is analyzed into U.S, Europe, China, Japan, and Others. Among all areas, China held the largest share in global indium market as it has a wide range of producing and processing industries of indium. Europe is the second largest region for indium. Processing plant of indium requires advanced technology and high precision processes to meet the demand of indium, worldwide. Japan held a moderate share in indium market owing to the presence of zinc deposits and indium production compared to other regions. Moreover, Japan held the major share in secondary indium production due to the huge amount of electronics produced and processed in the plants.

Semiconductor Market Is Curbing The Indium Market Growth

Indium phosphide, indium antimonide, and indium nitride are the indium compounds which acquire semiconductor properties. For the synthesis of semiconductor, indium is used in high quality. Whereas copper indium gallium selenide has the semiconductor properties and used in production of thin film solar cells. There are some compounds of indium which are fabricated by the process of metalorganic vapor. Pure indium in metal form is known to be non-toxic by most of the sources. Furthermore, indium used in welding and semiconductor industries has relatively high exposure and can damage the heart, kidney, and liver. Therefore, this damage to health may curb the growth of indium market.

Key Players

The indium gallium oxide market is rapidly growing and has competed with the presence of worldwide players. A rise in competition in the indium market will strengthen the appearance of more players in upcoming years. Manufacturing companies of indium gallium zinc oxide mostly have their presence in the domestic and regional markets where they have started to produce products that are application based for different end users and are giving tough competition to international indium gallium zinc oxide vendors. But it is difficult for local and regional vendors to compete with international vendors as products are based on various parameters such as product quality, product price, product reliability, and technological innovations. With the advanced innovations and added features in the product, indium gallium zinc oxide will considerably change the future display market. Rapid increase in merger and acquisition and technological innovations will increase the competition among existing market players. Some of the key players operating in the global indium market, profiled in the report include Korea Zinc, Dowa Holdings, Asahi Holdings, Teck Resources Limited, Umicore, Nyrstar, Young Poong, PPM Pure Metals GmbH, Doe Run, China Germanium, Guangxi Debang, Zhuzhou Smelter Group, Huludao Zinc Industry, China Tin Group, Green Novo, Yuguang Gold Lead Co. Ltd., Zhuzhou Keneng and among others.

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