Indium Tin Oxide Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players.webp "Indium Tin Oxide Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
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Indium Tin Oxide Market Analysis
The market for indium tin oxide is expected to grow at a CAGR greater than 4% globally during the forecast period. Growing demand from the optoelectronic industry and the increase in demand from the solar industry are driving the market. On the flip side, higher production costs coupled with volatile raw material prices are hindering the market growth.
- The indium tin oxide market is expected to grow during the forecast period owing to the increasing demand from the optoelectronic industry.
- Asia-Pacific region is forecasted to dominate the market across the globe with the largest consumption from countries such as China, India, and South Korea.
Indium Tin Oxide Market Trends
This section covers the major market trends shaping the Indium Tin Oxide Market according to our research experts:
Growing Demand from the Optoelectronics Industry
- Indium tin oxide is widely used in the manufacturing of optoelectrical components and is expected to be the fastest-growing market during the forecast period.
- Indium tin oxide is a mixture of indium oxide and tin oxide and the composition of tin may vary anywhere from 3% to 20% based on the application. Thin layers of indium tin oxide act as a transparent layer in visible light range and allow it to pass through it. In case of infrared light, layers of indium tin oxide act as an opaque layer and it reflects infrared light.
- Among all other Transparent Conductive Oxides (TCOs), indium tin oxide is widely preferred because of its superior electrical conductivity, optical transparency, and high stability. In the optoelectronics industry, it is mainly used to coat semiconductor sensor wirings and manufacture various optoelectrical devices and components such as Liquid Crystal Displays (LCDs), Organic Light-Emitting Diodes (OLEDs), plasma displays and touch screens.
- The increase in consumption of the above mentioned optoelectrical components in laptops, TVs and smartphones is expected to drive the market for the indium tin oxide during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for indium tin oxide during the forecast period due to an increase in demand from countries like China, India, and South Korea.
- Indium tin oxide is used in the manufacture of thin-film solar cells which are basic components of solar panels. As part of green energy initiatives and control global warming, the world is shifting towards renewable energy sources such as wind and solar power. This shift towards solar power expected to increase the demand for indium tin oxide.
- The National Energy Administration of China allocated USD 217.27 million for the establishment of new solar power projects in 2020.
- South Korea is among the leading manufacturers of electrical components in the electrical & electronics industry. As per the Korea Electronics Association, Korea made about USD 21,838 million in revenue through displays in the year 2019. Rise in living standards thereby increase in demand for laptops, tablets, smartphones, and TVs are expected to propel the market for the indium tin oxide for display manufacturing during the forecast period.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for indium tin oxide market in the Asia-Pacific during the forecast period.
Indium Tin Oxide Industry Overview
The global indium tin oxide market is partially fragmented with players accounting for a marginal share of the market. Few companies include ENAM OPTOELECTRONIC MATERIAL CO., LTD., Indium Corporation, Umicore, MITSUI MINING & SMELTING Co., LTD. and Tosoh Corporation.
Indium Tin Oxide Market Leaders
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ENAM OPTOELECTRONIC MATERIAL CO., LTD.
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Indium Corporation
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Umicore
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MITSUI MINING & SMELTING Co.,LTD.
*Disclaimer: Major Players sorted in no particular order
Indium Tin Oxide Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Growing Demand from Optoelectronic Industry
- 4.1.2 Increase in Demand from Solar Industry
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4.2 Restraints
- 4.2.1 Higher Production Costs Coupled with Volatile Raw Material Prices
- 4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Technique
- 5.1.1 Sputtering Deposition
- 5.1.2 Electron Beam Evaporation
- 5.1.3 Others
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5.2 Application
- 5.2.1 Optolectronics (Including Display Panels)
- 5.2.2 Photo Voltaic Cells
- 5.2.3 Battery Inhibitors
- 5.2.4 Others
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 American Elements
- 6.4.3 Diamond Coatings Inc
- 6.4.4 ENAM OPTOELECTRONIC MATERIAL CO., LTD.
- 6.4.5 Guangxi Crystal Union Photoelectric Materials Co., Ltd. (CUPM)
- 6.4.6 Indium Corporation
- 6.4.7 Knight Optical Ltd.
- 6.4.8 MITSUI MINING & SMELTING Co.,LTD.
- 6.4.9 OPCO LABORATORY, INC.
- 6.4.10 Tosoh Corporation
- 6.4.11 ULVAC
- 6.4.12 Umicore
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Recent Technological Improvements Help In Achieving Cost Reduction
Indium Tin Oxide Industry Segmentation
The Indium Tin Oxide Market report include:
| Technique | Sputtering Deposition | |
| Electron Beam Evaporation | ||
| Others | ||
| Application | Optolectronics (Including Display Panels) | |
| Photo Voltaic Cells | ||
| Battery Inhibitors | ||
| Others | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Indium Tin Oxide Market Research FAQs
What is the current Indium Tin Oxide Market size?
The Indium Tin Oxide Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Indium Tin Oxide Market?
ENAM OPTOELECTRONIC MATERIAL CO., LTD., Indium Corporation , Umicore and MITSUI MINING & SMELTING Co.,LTD. are the major companies operating in the Indium Tin Oxide Market.
Which is the fastest growing region in Indium Tin Oxide Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Indium Tin Oxide Market?
In 2024, the Asia Pacific accounts for the largest market share in Indium Tin Oxide Market.
What years does this Indium Tin Oxide Market cover?
The report covers the Indium Tin Oxide Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Indium Tin Oxide Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Indium Tin Oxide Industry Report
Statistics for the 2024 Indium Tin Oxide market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Indium Tin Oxide analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
