Global Indium Market is anticipated to reach USD 584.8 million by 2025. Indium is a soft, silvery-white metal occurring naturally with zinc and some other metals. Indium Tin Oxide (ITO), which is made from indium oxide and tin oxide with ratio of 9:1 by weight and is colorless and transparent when applied in thin layers. It is gaining preference over its substitutes because of its characteristics such as resistance to ultraviolet rays, transparency, and color fastness.
The factors that propel the growth of the Indium industry include growing demand for LCDs, larger displays and tablets, with TV screen size. On the other hand, there are factors that may hamper the growth of the market including huge demand supply gap and price instability. Indium Market is anticipated to grow at a significant CAGR of 9.1% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Indium industry may be explored by product type, application and geography. The market by product type could span Secondary Indium, Primary Indium, and Type III. The “Primary Indium” segment led the Indium Market in 2015 and is anticipated to maintain its dominance by 2025 due to improved customer dependence and manufacturing capability for semiconductor and electronic products such as LCD displays, solders, flat screen television, touch screen devices, and computer monitors.
The key applications that could be explored in the Indium industry include Semiconductor, Indium Tin Oxide, and Solder and alloy. The “Indium tin oxide (ITO)” segment led the market in 2015 and is anticipated to maintain its dominance by 2025 due to increasing application in thin film photovoltaics, flat panel-liquid crystal displays, architectural windows, smart windows, and polymer-based electronics.
Asia-Pacific accounted for the major share of the Indium Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth include rising demand and increasing domestic production. Furthermore, the other emerging countries in the region such as Japan and India have been observing notable economic development that is anticipated to impact the regional market.
Some of the key players that fuel the growth of the Indium industry comprise Avalon Advanced Materials Inc., 3M Company, Nitto Denko Corporation, Korea Zinc, Umicore Thin Film Products, Nystar N.V, ProTech materials, Inc., PPM Pure Metals GmbH, Touch International, Inc., and Indium Corporation. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.