Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Indium Market (Type: Primary Indium, Secondary Indium; Application: ITO, Semiconductor, Solder and Alloys, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2025”, forecasts that the global market for indium is expected to grow at a CAGR of around 2.5% from 2018 to 2025 and reach the market value of around $314 million by 2025. Indium is an element with multiple physical and chemical properties and due to its properties it is widely used in plating applications in different industries. Indium is a soft and ductile element which is mostly used for coating of products such as automobile bearings and other electronic components in order to develop moisture resistance and anti-seizure properties in automobile bearings. Moreover, indium has a wide area of applications such as it can also be used to make corrosion-resistant mirror surface which has good quality as silver. Indium is not widely spread in an environment however, all indium compounds are highly toxic which can damage heart, kidney, and lungs. Additionally, indium is highly adopted in semiconductor industries as doping agent and used to create p-type germanium. It is also used to make components such as transistors, diodes, and rectifiers. Factors such as increasing population, rising disposable income & purchasing power of consumers and changing lifestyle trend are fueling the growth of indium coated end products across the globe. However, a major challenge to the indium market is the presence of alternatives of indium such as poly (3, 4- ethylenedioxythiophene), used in touch screens and flexible displays, which is expected to dampen the growth of global indium market in the forecasted period.
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China Has Prominent Market Share
China held a prominent share among other regions due to its production and processing activities. Also, China has a presence of large amount of zinc deposits, as a result of which a number of processing plants have increased, which in turn lowers the production costs. Another reason for the largest share of China in global market is the rise in electronics industry. The demand for indium have risen due to increasing consumption consumer electronics products by end users.
Indium Tin Oxide (ITO) Held Largest Share in Global Indium Market
Nowadays, touchscreen sale is driving the ITO (Indium Tin Oxide) market as indium is a unique material used in touchscreens and has perfect properties necessary for this application such as high conductivity, optically transparency and can be easily mass produced as thin films. Furthermore, ITO is widely used in touch screens as it forms the conductive layer when the monitor has to change in electrical state once the user touches or swipes the screen. Therefore, in majority of latest smartphones and tablets, indium tin oxide is used and increases the demand of indium market.
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Global indium market is segmented by type, application and geography. Based on different types, the market is segmented into primary indium and secondary indium. Also, by application, the market is bifurcated into ITO, semiconductor, solder and alloys, and others. Based on geography, market is further classified into U.S, Europe, China, Japan, and Others.
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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