Indium Market Size was estimated to be worth USD 450.5 Mn in 2021, registering a CAGR of 9.2% during the forecast period (2022-2030). Indium is a soft, silvery-white metal that is widely used in various industries due to its unique physical and chemical properties. It is mainly produced as a by-product of zinc and lead mining and refining.
Several applications make up the indium market, such as electronic and electrical, alloys, coatings, and others. The electronic and electrical segment represents the most extensive application, comprising more than 60% of the market share in 2021. The escalating demand for indium-based alloys and coatings in the electronics sector drives this segment. Indium is widely utilized in the production of touchscreens, flat panel displays, photovoltaic cells, and other electronic components due to its remarkable conductivity, thermal stability, and optical properties.
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The alloys segment ranks second in application, while the coatings segment is projected to experience substantial growth during the forecast period. This is due to the rising demand for indium-based coatings in the aerospace and defense industries. Indium coatings are utilized for corrosion resistance and electrical conductivity in aircraft parts, satellite components, and other applications.
Geographically, the indium market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is the largest market for indium, accounting for over 60% of the market share in 2021, driven by the increasing demand for indium in the electronics and automotive industries in countries such as China, Japan, and South Korea. North America and Europe are the second and third-largest markets, respectively, due to the high adoption rate of indium-based products and the presence of major market players in the region.
Market Segmentation
By Product Type:
Primary, Secondary, and Type III
By Applications :
Flat Panel Displays, ITO, Semiconductor Materials, Alloys, Batteries, Photovoltaics, Solders, Thermal Interface Materials. And Others
By Geography:
North America, Europe, Asia Pacific,
Latin America, Middle East and Africa.
The key players in the indium market include Korea Zinc Co., Ltd., Umicore SA, Indium Corporation, Nyrstar NV, Asahi Holdings, Inc., Teck Resources Limited, Guangxi Debang Trading Co., Ltd., and Zhuzhou Keneng New Material Co., Ltd. These companies are actively involved in product development, strategic collaborations, and mergers and acquisitions to expand their market presence and increase their product portfolio.
In conclusion, the indium market is a growing sector driven by the increasing demand for indium-based products in various industries worldwide. The market has been segmented into several applications, including electronic and electrical, alloys, coatings, and others. With the increasing investment in research and development by companies and governments, the indium market is expected to grow significantly during the forecast period.
The study provides answers to the following key questions:
- What type of customers buying the products and services from companies operating in the Indium Market?
- What will be the roadmap for the product manufacturers operating in the Indium Market for the forecast period, 2022-2030?
- What are the recent developments in the competitive landscape to look out for during the estimated period?
- What are the major trends influencing customers’ lives and their buying behaviour?
- How can brands best communicate with the customers they intend to target?
- When, where and how the customers want to use or consume the products or services?
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