Global Indium Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Primary Indium, Secondary Indium, Type III), By Application (Indium Tin Oxide, Semiconductor, Solder And Alloys, Others), And By Geography - Forecasts From 2023 To 2028

Indium is a chemical element and is the softest metal that is not an alkali metal. It is a silvery-white metal that looks similar to tin. In terms of its qualities, indium is generally halfway between the properties of gallium and thallium and shares a similar chemical composition with both. When zinc is refined, indium is created as a byproduct and is a small component in zinc sulfide ores. Most notably, it is utilized in the semiconductor sector, low-melting-point metal alloys like solders, soft metal high-vacuum sealing, and the creation of transparent conductive indium tin oxide (ITO) coatings on glass. Indium is a part of crucial technology-critical elements. Indium plays no biological function. When injected into the bloodstream, its constituents are poisonous. The two main routes of occupational exposure are inhalation and ingestion, both of which result from indium substances being only weakly absorbed.

There are several uses for indium in the semiconductor industry. Indium antimonide and indium phosphide, for example, are semiconductors with practical characteristics. Light-emitting diodes (LEDs) and laser diodes both employ the compound semiconductors InGaN and InGaP. Copper indium gallium selenide (CIGS), a form of the second-generation thin-film solar cell, is a semiconductor that is utilized in photovoltaics and is also referred to as CIGS solar cells. Indium and germanium are combined to form PNP bipolar junction transistors, and when they are soldered securely at low temperatures, indium does not impose an excess burden on the germanium.

The global indium market has been primarily driven by the increase in demand for electronic products and indium applications for dental treatment.

The demand for electronic products including laptops, monitors, tablet devices, flat panel displays, smartphones, and other such devices has grown globally. These electronic products are in high demand for a number of reasons, including new technological breakthroughs, growing expendable capital, and enhanced lifestyle quality that has incentivized consumers to purchase them. Indium is one of the most essential manufacturing materials for the production of screens, flat-screen TVs, and solar panels, as it is translucent, tightly adheres to glass, and conducts electricity. Furthermore, semiconductors utilized in transistors and microchips include indium nitride, phosphide, and antimonide.

Further, the development of applications, algorithms, machine intelligence, customized treatment, and automation are just a few of the industries has increased demand for such machinery and optic devices that use indium. Gold, silver, and palladium make up the majority of the alloys used to construct dentures, with additional indium. Utilizing a small amount of metal indium can significantly improve dental prosthesis' oxidation tolerance and durability as such,  indium is widely used in dental amalgam fillings. Furthermore, indium facilitates mercury preservation by protecting the filling from becoming toxic. As a result, indium protects people against the hazardous side effects of mercury in dental amalgam implants. This has further boosted the demand for indium in dental healthcare and has benefitted the global indium market.

Growing research in related markets and key developments.

• In February 2023, researchers at the Indian Institute of Technology (IIT), Mandi, India, announced the creation of an innovative material that can reduce the radar visibility of stealth vehicles and covert installations. The polyethylene terephthalate (PET) sheet used in the suggested design has an indium tin oxide (ITO) coating that makes it optically transparent. According to the researchers, the material can absorb a wide variety of radar frequencies (signals), regardless of how the radar signal strikes the object. Additionally, it can be utilized to conceal windows or glass panels in covert buildings and stealthy vehicles.
• In October 2022, new papers published by National Renewable Energy Laboratory (NREL) researchers, highlighted developments in photovoltaics and III-V material cells. The researchers were able to create and use AlInP, which significantly enhanced the efficiency of both a single-junction cell and a two-junction cell, by using aluminum trichloride. The two-junction cell with AlInP in HVPE solar cells achieved 28.0% efficiency. Gallium indium phosphide and GaAs layers were used to construct the cell. The study proved that AlInP by D-HVPE has adequate quality to produce the anticipated improvements in solar cells.

Regional Insights

Based on geography, the global indium market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. North America and Europe hold significant shares of the global indium market due to the extensive technology and electronics industry present in the region as well as rising awareness due to environmental concerns. The environmental concerns have boosted the demand for solar cells and equipment in Europe, which has positively served the European indium market.

The Asia Pacific region holds a major share of the global indium market. This is due to the high production of indium in the region as well as the presence of several display panels and semiconductor manufacturers in the region, including firms like Samsung and Panasonic. According to data from the United States Geological Survey, China is the largest producer of indium in the world, producing around 595 tons of indium in 2021; meanwhile, South Korea had the second largest indium refinery production in 2021 with 209 tons. This combined indium refinery production of the two countries constituted about 78.33% of the total global indium refinery production in 2021.

Global Indium Market Scope:

Market Segments

• By Type
  • Primary Indium
  • Secondary Indium
  • Type III
• By Application
  • Indium Tin Oxide
  • Semiconductor
  • Solder and alloys
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East And Africa
    • Saudi Arabia
    • Israel
    • UAE
    • Other
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Indonesia
    • Others