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    Indium Market

    ID: MRFR/CnM/22010-HCR
    111 Pages
    Chitranshi Jaiswal
    October 2025

    Indium Market Research Report By Grade (High purity indium, Standard grade indium, Other grades), By Form (Indium ingots, Indium wire, Indium foil, Indium powders, Indium compounds), By Application (Soldering and brazing, Flat panel displays, Solar cells, Semiconductors, Other applications), By End-Use Industry (Electronics, Automotive, Aerospace, Renewable energy, Other industries) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2035

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    Summary Table of Contents Segmentation Download PDF

    Indium Market Summary

    The Global Indium Market is projected to grow from 9.20 USD Billion in 2024 to 18.99 USD Billion by 2035.

    Key Market Trends & Highlights

    Indium Key Trends and Highlights

    • The market is expected to witness a compound annual growth rate (CAGR) of 6.81 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 19.0 USD Billion, indicating robust growth potential.
    • in 2024, the market is valued at 9.20 USD Billion, reflecting a strong foundation for future expansion.
    • Growing adoption of indium in electronics due to increasing demand for high-performance displays is a major market driver.

    Market Size & Forecast

    2024 Market Size 9.20 (USD Billion)
    2035 Market Size 18.99 (USD Billion)
    CAGR (2025-2035) 6.81%

    Major Players

    Indium Corporation, Nihon Indium, DOWA Holdings, Eagle Alloys, Belmont Metals, Umicore, Global Advanced Metals, JX Nippon Mining Metals, Korea Zinc, Sumitomo Metal Mining, Alfa Aesar, Avantor, C. Starck, CMP Industries

    Indium Market Trends

    The indium industry is motivated by more demands from end-user areas like electronics, photovoltaics and optoelectronics. The key market driver is the increasing use of indium-based compounds in advanced semiconductor devices and high-efficiency solar cells. In addition, governments are expected to increase their demand for indium as they actively promote renewable energy initiatives. Indium has potential future development prospects in emerging technologies such as flexible electronics and 5G networks. Opportunities exist for specialized manufacturers who cater to this niche market through the production of high-purity indium required for advanced applications.

    Furthermore, increased use of Indium-based alloys/compounds in diverse industries offers innovative space as well as product differentiation. Market developments show a shift towards sustainable and environmentally friendly processes of manufacturing indium. Environmental concerns, coupled with a push towards reducing waste, have made recycling and recovery methods popular. Moreover, it is anticipated that new alloys and compounds will be developed with improved properties, expanding the application range of Indium across several industrial sectors.

    The Global Indium Market is poised for growth, driven by increasing demand in electronics and renewable energy applications, suggesting a robust future for this critical metal.

    U.S. Geological Survey (USGS)

    Indium Market Drivers

    Growing Demand in Electronics

    The Global Indium Market Industry experiences a robust demand surge driven by the electronics sector. Indium is a critical component in the production of indium tin oxide, which is essential for touch screens, LCDs, and LED displays. As the global electronics market continues to expand, particularly in emerging economies, the need for indium is projected to rise significantly. In 2024, the market is valued at approximately 9.2 USD Billion, reflecting the increasing integration of advanced technologies in consumer electronics. This trend suggests a sustained growth trajectory for the Global Indium Market Industry, as manufacturers seek to enhance product performance and energy efficiency.

    Market Segment Insights

    Indium Market Grade Insights

    The Indium Market is segmented by Grade into High purity indium, Standard grade indium, and Other grades. High purity indium is the most expensive and highest-quality grade of indium. It is used in applications where high purity is required, such as in the electronics industry. The high purity indium segment is expected to grow at a CAGR of 6.5% from 2023 to 2032. Standard grade indium is the most common grade of indium. It is used in a wide range of applications, including indium tin oxide (ITO) coatings, solders, and alloys.

    The standard grade indium segment is expected to grow at a CAGR of 6.3% from 2023 to 2032.Other grades of indium include low-purity indium and recycled indium. Low-purity indium is used in applications where high purity is not required, such as in the production of batteries. Recycled indium is indium that has been recovered from electronic waste. The other grades segment is expected to grow at a CAGR of 6.2% from 2023 to 2032. The different grades of indium have different prices. High purity indium is the most expensive, followed by standard grade indium and other grades.

    The price of indium is also affected by supply and demand. The growth of the market is attributed to the increasing demand for indium from the electronics industry.Indium is used in a wide range of electronic devices, including smartphones, televisions, and computers. The growth of the electronics industry is expected to drive the demand for indium in the coming years.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Indium Market Form Insights

    Indium ingots, Indium wire, Indium foil, Indium powders, and Indium compounds are key forms of Indium available in the market. Indium ingots held the largest share in the Indium Market in 2023 and are expected to maintain their dominance throughout the forecast period. Indium ingots are primarily used in the production of Indium-tin oxide (ITO), a transparent conducting oxide widely employed in the manufacturing of flat-panel displays, touch screens, and solar cells.

    The demand for Indium ingots is expected to increase with the growing adoption of these technologies.Indium wire is another significant form of Indium, used in various applications such as soldering, brazing, and metallization. The increasing use of Indium wire in the electronics industry is driving the growth of this segment. Indium foil, Indium powders, and Indium compounds are also gaining traction in various applications, contributing to the overall growth of the Indium Market.

    Indium Market Application Insights

    The Indium Market is segmented into various applications, including soldering and brazing, flat panel displays, solar cells, semiconductors, and other applications. Soldering and brazing held the largest market share in 2023, accounting for over 50% of the Indium Market revenue. The demand for indium in this segment is driven by its use in electronic assembly, where it is used to join metal components.

    The flat panel display segment is expected to witness significant growth over the forecast period, owing to the increasing demand for indium in the production of LCD and OLED displays.The solar cells segment is also expected to witness healthy growth, driven by the increasing adoption of solar energy. The semiconductors segment is expected to grow steadily, owing to the increasing demand for indium in the production of transistors and other semiconductor devices. Other applications of indium include its use in batteries, alloys, and catalysts.

    Indium Market End-Use Industry Insights

    The electronics industry is anticipated to dominate the Indium Market in 2023, accounting for approximately 45% of the total market share. Indium's unique properties, such as its low melting point and high electrical conductivity, make it an ideal material for various electronic applications, including semiconductors, transistors, and solar cells. The growing demand for electronic devices and the increasing adoption of renewable energy sources are expected to drive the growth of the indium market in the electronics segment.

    The automotive industry is another significant end-use industry for Indium, with an estimated market share of around 20% in 2023 and expected to grow at a CAGR of 6.5% from 2023 to 2032.Indium is used in various automotive applications, including bearings, solders, and alloys, due to its excellent corrosion resistance and high-temperature stability. The increasing production of vehicles, particularly electric vehicles, is anticipated to boost the demand for indium in the automotive sector. The aerospace industry is a niche but growing segment for the indium market, accounting for approximately 10% of the global market share in 2023.

    Indium's exceptional strength-to-weight ratio and resistance to harsh conditions make it a suitable material for aerospace applications, such as jet engine components, spacecraft, and satellite systems.The increasing investments in space exploration and the development of advanced aircraft are expected to fuel the demand for indium in the aerospace segment. Renewable energy is a promising end-use industry for indium, with an estimated market share of around 15% in 2023 and projected to grow at a CAGR of 7% from 2023 to 2032.

    Indium is used in solar cells, thin-film photovoltaics, and other renewable energy technologies due to its high absorption coefficient and ability to improve the efficiency of these devices. The growing adoption of renewable energy sources is expected to drive the demand for indium in this segment.Other industries, such as medical, chemical, and construction, collectively account for approximately 10% of the Indium Market share in 2023. Indium finds applications in various medical devices, such as X-ray tubes and radiation shields, due to its excellent X-ray absorption properties. In the chemical industry, indium is used as a catalyst in various reactions.

    The construction industry utilizes indium in alloys and solders for specialized applications.

    Get more detailed insights about Indium Market Research Report — Global Forecast till 2034
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    Regional Insights

    The Indium Market segmentation by region includes North America, Europe, APAC, South America, and MEA. Among these regions, APAC is expected to witness significant growth in the Indium Market during the forecast period due to the increasing demand from the electronics industry in the region. The growth in the consumer electronics and automotive sectors in APAC is driving the demand for indium, which is used in various applications such as LCD displays, semiconductors, and batteries.

    North America and Europe are also key markets for indium, with a high concentration of electronics manufacturers in these regions.South America and MEA are expected to experience steady growth in the Indium Market, driven by the increasing adoption of electronic devices and the development of new applications for Indium. Overall, the Indium Market is expected to exhibit a strong growth trajectory over the coming years, driven by the increasing demand from the electronics industry and the development of new applications for indium.

    Indium Market Regional Insights

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Key Players and Competitive Insights

    Major players in the Indium Market industry are constantly striving to gain a competitive edge by investing in research and development, expanding their product portfolios, and establishing strategic partnerships. Indium Market development is driven by factors such as increasing demand from the electronics industry, rising adoption of indium-based alloys in various applications, and government initiatives to promote green and sustainable technologies.

    The competitive landscape of the Indium Market is expected to remain dynamic in the coming years, with leading Indium Market players such as Indium Corporation, Nihon Indium, and DOWA Holdings continuing to dominate the market share.Indium Corporation, a leading Indium Market player, is known for its wide range of indium-based products and its commitment to innovation. The company has a global presence and caters to a diverse customer base across various industries. Indium Corporation is actively involved in research and development and has a strong focus on sustainability.

    It has received numerous awards and recognitions for its contributions to the industry.Nihon Indium, another prominent Indium Market player, is headquartered in Japan and has a strong presence in the Asia-Pacific region. The company offers a comprehensive range of indium products, including high-purity indium ingots, indium alloys, and indium compounds. Nihon Indium is known for its quality products and its ability to meet the specific requirements of its customers. It has a dedicated team of engineers and technical experts who provide technical support and assistance to customers.

    Key Companies in the Indium Market market include

    Industry Developments

    Indium's unique properties, including its low melting point, excellent thermal conductivity, and corrosion resistance, drive its demand in various industries. The Indium Market is projected to reach USD 17.78 billion by 2034, exhibiting a CAGR of 6.81% from 2025 to 2034.The electronics sector remains the dominant consumer of indium, utilizing it in semiconductors, solder alloys, and displays. The automotive industry also presents a significant growth opportunity due to the rising adoption of electric vehicles and the increasing use of indium in batteries and power electronics.Key market players are focusing on expanding their production capacities and geographical reach.

    For instance, in 2023, Indium Corporation announced plans to invest USD 30 million to expand its production facility in South Korea. Such investments aim to meet the growing demand for indium and maintain a competitive edge.Recent developments include the discovery of new indium-rich deposits, such as the recent discovery in Canada by Zinc8 Energy Solutions. These discoveries have the potential to increase the global supply of indium and stabilize prices. Additionally, ongoing research on recycling and recovering indium from electronic waste offers promising opportunities for sustainable indium sourcing.

    Future Outlook

    Indium Market Future Outlook

    The Global Indium Market is projected to grow at a 6.81% CAGR from 2025 to 2035, driven by advancements in electronics, renewable energy technologies, and increased demand for high-performance materials.

    New opportunities lie in:

    • Expand indium production through sustainable mining practices to meet rising demand.
    • Invest in research for indium-based alloys to enhance electronic device performance.
    • Develop partnerships with renewable energy firms to supply indium for solar panels.

    By 2035, the Indium Market is expected to achieve robust growth, reflecting its critical role in advanced technologies.

    Market Segmentation

    Indium Market Form Outlook

    • Indium ingots
    • Indium wire
    • Indium foil
    • Indium powders
    • Indium compounds

    Indium Market Grade Outlook

    • High purity indium
    • Standard grade indium
    • Other grades

    Indium Market Regional Outlook

    • North America
    • Europe
    • South America
    • Asia Pacific
    • Middle East and Africa

    Indium Market Application Outlook

    • Soldering and brazing
    • Flat panel displays
    • Solar cells
    • Semiconductors
    • Other applications

    Indium Market End-Use Industry Outlook

    • Electronics
    • Automotive
    • Aerospace
    • Renewable energy
    • Other industries

    Report Scope

    Report Attribute/Metric Details
    Market Size 2024 9.20 (USD Billion)
    Market Size 2025 9.83 (USD Billion)
    Market Size 2035 18.99 (USD Billion)
    Compound Annual Growth Rate (CAGR) 6.81% (2025 - 2035)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Base Year 2024
    Market Forecast Period 2025 - 2035
    Historical Data 2020 - 2024
    Market Forecast Units USD Billion
    Key Companies Profiled Eagle Alloys, Belmont Metals, Umicore, Global Advanced Metals, JX Nippon Mining Metals, Korea Zinc, Sumitomo Metal Mining, Alfa Aesar, Avantor, H.C. Starck, CMP Industries, DOWA Electronics Materials, Indium Corporation
    Segments Covered Grade, Form, Application, End-Use Industry, Regional
    Key Market Opportunities Foldable display technology Solar cell applications 5G telecommunication networks Semiconductor industry Medical imaging
    Key Market Dynamics 1 Rising demand from the electronics industry2 Increasing use in solar cell applications3 Growing adoption of display technologies4 Limited supply due to geopolitical factors5 Fluctuating prices due to market volatility
    Countries Covered North America, Europe, APAC, South America, MEA

    FAQs

    What is the overall market size of the Indium Market?

    The Indium Market is expected to be valued at USD 9.83 billion in 2025 and is projected to reach USD 17.78 billion by 2034, exhibiting a CAGR of 6.81% during the forecast period.

    Which regions are expected to dominate the Indium Market?

    Asia-Pacific is expected to dominate the Indium Market, with a share of 60.2% in 2023. North America and Europe are also significant markets for indium.

    What are the key applications driving the growth of the Indium Market?

    The primary application of indium is in the production of transparent conductive oxides (TCOs), which are used in various electronic devices such as LCDs, touch screens, and solar panels.

    Who are the major players operating in the Indium Market?

    Some of the key players operating in the Indium Market include Teck Resources, Glencore, Korea Zinc, Indium Corporation, and JX Nippon Mining Metals.

    What are the factors influencing the growth of the Indium Market?

    The growth of the Indium Market is driven by factors such as the increasing demand for indium in electronic devices, the rising popularity of solar energy, and the growing adoption of indium-based alloys in various industrial applications.

    What are the challenges faced by the Indium Market?

    The Indium Market faces challenges such as the limited availability of indium resources, the volatility of indium prices, and the environmental concerns associated with indium mining and processing.

    What are the opportunities for growth in the Indium Market?

    Growth opportunities in the Indium Market include the development of new indium-based alloys, the expansion of the solar energy industry, and the growing adoption of indium in emerging technologies such as flexible electronics and 5G networks.

    What are the key trends shaping the Indium Market?

    Key trends shaping the Indium Market include the increasing demand for indium in high-performance electronic devices, the development of new indium-based materials, and the growing adoption of indium in sustainable technologies.

    What is the impact of COVID-19 on the Indium Market?

    The COVID-19 pandemic had a moderate impact on the Indium Market in the short term due to disruptions in supply chains and reduced demand from key end-use industries. However, the market is expected to recover and continue its growth trajectory in the post-pandemic period.

    What is the forecast for the Indium Market?

    The Indium Market is expected to grow at a CAGR of 6.81% from 2025 to 2034, driven by the increasing demand for indium in electronic devices, the expansion of the solar energy industry, and the growing adoption of indium in emerging technologies.

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