Indium is non alkali metal. It looks like silver, it is the softest metal . It is a chemical element whose atomic number is 49 and symbolized as In. Indium is the post-transition metal that makes up 0.21 parts per million of the Earth’s crust. It has a melting point lower than lithium and tin but higher than sodium and gallium. Indium is so soft that one can easily cut this metal by knife. The melting point of indium is just 157-degree Celsius. Indium metal also uses to cover the car headlights. Indium tin oxide (composition of indium tin and oxygen) is used in touch screens, flat-screen TVs, and solar panels. Increasing in the usage of smartphone, tablets, and big-screen gadgets influencing the consumption of indium.Thus, formulating the growth of the market during the forecast period.
Indium market is segmented into product, application and by region. Based on product global indium market is categorized into primary, secondary and type III. Based on application global indium market is characterized into indium tin oxide, semiconductors, solders and alloys and others. Based on region, global indium market and colors market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Market Dynamics and Factors
The evolution of new technologies for indium reprocessing from several electronic products keeping in perspective its economic significance and excessive supply risk is another major factor driving the indium market over the coming period. Moreover, the alloy of indium and gallium used to make a mirror and as we can see mirror is used in almost every places from malls to car and bikes so increasing in urbanization also help to drive the consumption of indium. The key driver of indium market is ITO as it is used in the LCD screens as the use of smartphones, tablets and other gadgets are increasing which will ultimately affect the growth of indium market.
However, there are other substitutes like Poly (3, 4,-ethylene dioxythiophene) used for flexible touchscreen phone and gallium for photovoltaic cells can replace the indium in future.
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Geographically, indium market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa.
The Asia Pacific is the largest producer and exporter of indium. According to research studies in 2020, China was the largest producer of soft metal indium by 500 metric tons followed by South Korea 200 metric tons, Japan 65 metric tons, Canada 50 metric tons, France 50 metric tons, Belgium 20 metric tons, Peru 10 metric tons and Russia 5 metric tons.
North America is the second dominating region considering the supportive infrastructure to manufacture semiconductors, ITOs, alloys, and others. According to research studies, it is forecasted that the volume of indium in the United States by 2025 would be 237 metric tons as it has many usages in electronics, such as semiconductors and touch screens. Europe having a limited number of indium refineries is expected to have moderate growth in the coming year.
Some of the key players of indium market are 3M Company, Avalon Advanced Materials Inc., Indium Corporation, Korea Zinc., Nitto Denko Corporation, Nystar N.V, PPM Pure Metals GmbH, ProTech Materials, Inc., Touch International, Inc., Umicore Thin Film Products.
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Key Industry Development
June, 2021: Considering future technology the display screens would be more thinner, flexible and durable but widely used indium is not performing the same as it get cracked on larger area and get break with wear. Mircrogrid is the emerging and better substitute of indium as it can perform better than indium.
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