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The global indium market is projected to showcase a strong growth during the forecast period (2021–2030), on account of the increasing demand for the compound in electronic goods, such as flat screen televisions, laptops, and other touch screen products. With the increasing production of such electronics and solar photovoltaics, worldwide, the demand for the compound is projected to increase, which, in turn, is likely to propel the market growth in coming years.
The indium market is categorized into primary, secondary, and type III, on the basis of product. Among these, the primary category is expected to account for a significant market share by 2030. This can be ascribed to the high-volume usage of the primary product for production of televisions and computer screens, mobile phones, photovoltaic solar cells, along with several other touch screen devices.
The indium market is categorized, on the basis of application, into indium tin oxides, semiconductors, solders & alloys, and others. Of these, the indium tin oxides category is expected to account for a significant share in the market in coming years, owing to its increasing application base. This includes the usage of the compound to prepare transparent conductive coatings for light-emitting diode (LED) screens, touch panels, and digital cameras. Additionally, it is used as a transparent heating glass in de-icing systems, and also, it is added to varnishes, adhesives, and plastic films to increase conductivity.
Geographically, the Asia-Pacific (APAC) region is expected to lead the indium market throughout the forecast period. This can be ascribed to the high-volume consumption of the compound in China. In recent years, China has emerged as a hub for the production of electronic goods, owing to which the consumption of indium has been at a rise. Moreover, electronic companies are seeking to shift their production bases in countries, such as India, Thailand, and Vietnam, on account of the availability of low-cost labor and multiple free trade agreements. These factors are expected to further increase the demand of the compound during the forecast period.
The demand for indium has witnessed a strong growth, and the trend is likely to continue in coming years, primarily on account of its surging demand for usage in electronic goods. The compound offers properties of high electrical conductivity and is transparent, which allows transfer of light. Hence, such advantageous properties make it suitable for application in a wide range of screens, as well as microchips of cell phones. Additionally, surge in use of renewable energy, especially solar, will further boost the demand for indium. With increasing investments for the development of technological advanced electronic goods, the consumption of the compound is likely to increase. Therefore, such factors are projected to drive the indium market during the forecast period.
Although indium has a wide range of usage, several health effects of the compound restrain its adoption rate. Increased environmental concentrations of the compound upsurge the risk of lung diseases, which can be potentially fatal on prolonged exposure of indium particles. This creates high health possessing risks for workers in factories and production sites, who are in close proximity to the compound. Therefore, such factors are likely to restrain the market growth to a certain extent during the forecast period.
Some of the companies operating in the global indium market are Avalon Advanced Materials, PPM Pure Metals GmbH, Umicore, ProTech Materials Inc., NYRSTAR N.V., Indium Corporation, and KOREAZINC.
The study provides the historical as well as the forecast size of the indium market.
The indium market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030
Based on Product
Based on Application