PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515578
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515578
Indium Market size was valued at USD 461.23 Million in 2023, expanding at a CAGR of 9.5% from 2024 to 2032.
Indium is primarily used in the electronics industry, where it serves as a crucial component in the production of touch screens, LCDs, and semiconductors due to its excellent conductivity and ability to adhere to glass. It is also utilized in the production of thin-film photovoltaic cells for solar panels, as well as in low-melting point alloys and solders. Indium's unique properties make it indispensable in creating reliable and efficient electronic devices and renewable energy technologies.
Indium Market- Market Dynamics
The surging demand for smartphones, smart homes, and solar panels is propelling market growth.
The Indium market is booming due to the increasing popularity of essential tech gadgets like smartphones and smart home devices. In the fiscal year 2023-24, the value of mobile devices produced in India, both for export and domestic markets, surged to Rs 4.1 trillion ($49.16 billion). China, producing over one billion smartphones in 2022-about 70-80% of the global total-further drives this growth.
These devices rely heavily on indium for its unique transparent conductivity, crucial for touchscreens and other essential components. Additionally, the expanding adoption of solar panels, another key application for indium, is driving further market expansion. Indium's role in advancing clean energy solutions adds yet another layer of demand, contributing significantly to its robust market momentum
Indium Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 9.5% over the forecast period (2024-2032)
Based on Type segmentation, Primary indium was predicted to show maximum market share in the year 2023
Based on Application segmentation, Semiconductor Materials was the leading type in 2023
Based on region, Asia-Pacific was the leading revenue generator in 2023
The Global Indium Market is segmented based on Type, Application, and Region.
The market is divided into three categories based on Type: Primary, Secondary, and Type III. Primary indium is produced directly from ore or as a byproduct of other metal refining processes. Indium is a rare metal that is often recovered as a byproduct of zinc mining and refining. It is used primarily in electronics, particularly in the production of touch screens, LCD panels, and semiconductors due to its unique properties such as its high electrical conductivity and malleability.
The market is divided into seven categories based on Application: Flat Panel Displays, Semiconductor Materials, Photovoltaics, Solders, Alloys, Thermal Interface Materials, and Batteries. Indium is indispensable in the realm of semiconductor materials, particularly for its crucial role in advanced electronic devices. It acts as a dopant in semiconductors, modifying their electrical properties to suit specific requirements. By doping with indium, semiconductors can achieve enhanced conductivity or adjust their bandgap, crucial for applications ranging from microelectronics to optoelectronics.
Indium Market- Geographical Insights
The indium market is primarily led by the Asia Pacific region, specifically China, South Korea, and Japan. These countries are major producers of indium, driven by their robust electronics manufacturing sectors and increasing demand for indium-based products like flat-panel displays, semiconductors, and photovoltaics. China, in particular, stands out as the largest global producer of indium, thanks to its substantial reserves and extensive extraction operations. According to international trade statistics, China exported 381 tons of indium in the first eight months of 2023 alone. The region's dominance is further bolstered by technological advancements, strong industrial infrastructure, and strategic investments in indium mining and refining capabilities.
The Indium market is characterized by several key players, including Umicore, Indium Corporation, Nyrstar, Teck Resources Limited, and Avalon Advanced Materials Inc. These companies are prominent in the production, refining, and distribution of indium, a critical material used in various high-tech applications such as electronics, semiconductors, and photovoltaics.
Competition in the indium market revolves around factors such as production capacity, technological advancements in extraction and processing, pricing strategies, and geographical presence. Umicore and Indium Corporation are leading the industry with their cutting-edge research and development (R&D). Umicore's dedication was evident in 2022 with a significant $150 million investment in R&D. This focus on innovation allows them to develop high-purity indium products tailored to the specific needs of various industries.
In Dec 202, Umicore recently initiated the construction of a significant new fuel cell catalyst plant in Changshu, Jiangsu province, China. This greenfield facility is set to become the largest proton exchange membrane (PEM) catalyst production site globally. The move aims to meet increasing customer demand, with plans to support market needs through 2030.
In March 2022, A collaborative Dutch-Chinese research effort introduced a bifacial heterojunction PV cell, achieving a substantial 67% reduction in the use of transparent conductive oxide (TCO) based on indium (III) oxide (In2O3).
GLOBAL INDIUM MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
AIM Metals & Alloys LP
Ahpmat.com
Avalon Advanced Materials Inc.
DOWA Electronics Materials Co. Ltd.
ESPI Metals
Indium Corporation
KOREAZINC
Lipmann Walton & Co. Ltd
Nippon Rare Metal Inc
Nyrstar
PPM Pure Metals GmbH
Teck Resources Limited
Umicore
Xinlian Environmental Protection Technology Co., Ltd.
Zhuzhou Keneng New Material Co., Ltd. Inc.