The global indium market serves various applications across industries, owing to its unique attributes and benefits. Indium, especially indium tin oxide (ITO), is crucial in the electronics sector for its exceptional electrical conductivity and optical transparency, enabling the production of displays and touchscreens. Its low melting point is advantageous for low-temperature soldering, making it ideal for delicate electronic assembly. Indium's ability to create hermetic seals is essential in aerospace and vacuum environments, and its biocompatibility is valuable in medical devices. Its high thermal conductivity aids in dissipating heat in electronic components. These diverse advantages make indium valuable for advancing technology across various industries worldwide.
According to Data Bridge Market Research analyses the Global Indium Market is growing with a CAGR of 7.6% in the forecast period of 2023 to 2030 and is expected to reach USD 1,067,702.07 million by 2030.
“Rise in electronic device demand boosts the market growth"
The growing demand for electronic gadgets such as smartphones, tablets, and screens is a major reason behind the growth of the global indium market. Technological advancements have led to the development of more sophisticated products while rising incomes and improved living standards have made these devices more accessible. The COVID-19 pandemic further accelerated this demand as it forced people to work and learn from home, increasing the need for electronic gadgets.
What restraints the growth of the global indium market?
“Environmental issues restrain the market growth"
Indium's environmental risks hinder the growth of the global indium market. As a consequence of its scarcity, it is typically extracted during the mining of other metals such as zinc and copper, leading to ecological disturbances, deforestation, and disruptions in precipitation patterns. The construction of mining-related infrastructure, such as roads and power lines, also encroaches on wildlife habitats, compounding the environmental impact of indium extraction. These challenges underscore the need for more sustainable mining practices and responsible resource management to mitigate these adverse effects.
Segmentation: Global Indium Market
The global indium market is categorized based on product and application.
- On the basis of product, the global indium market is segmented into primary, secondary, and type III.
- On the basis of application, the global indium market is segmented into flat panel displays, semiconductor materials, photovoltaics, solders, alloys, thermal interface materials, and batteries.
Regional Insights: North America is expected to dominate the Global Indium Market
In North America, the U.S. dominates the indium market due to surging demand for electronic devices, driven by advancements in technology and sustainable energy solutions. Germany leads the European market, benefiting from its strong high-tech manufacturing and optoelectronics sectors. South Africa has become a significant player in the Middle East and Africa, thanks to its diverse use of indium in various industries and its commitment to sustainable mining practices, solidifying its position in the global indium market.
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Recent Development in the Global Indium Market
- In December 2022, Umicore and Volkswagen's PowerCo extended their partnership to supply battery materials for PowerCo's North American EV battery Gigafactory, strengthening their operations.
The Prominent Key Players Operating In The Global Indium Market Include:
- Nippon Rare Metal, Inc (Japan)
- Umicore (Belgium)
- Teck Resources Limited (Canada)
- Nyrstar (Switzerland)
- Avalon Advanced Materials Inc (Canada)
- Indium Corporation (U.S.)
- Lipmann Walton & Co. Ltd (U.K.)
- Zhuzhou Keneng New Material Co., Ltd (China)
- ESPI Metals (U.S.)
- AIM Metals & Alloys LP (Canada)
- DOWA Electronics Materials Co., Ltd (Japan)
- Xinlian Environmental Protection Technology Co., Ltd (China)
Above are the key players covered in the report, to know about more and exhaustive list of global indium market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Indium Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
