Indium Market Size, Share & Trends Analysis Report By Application (Displays, Semiconductor Materials, Solders & Alloys), By Region (North America, Europe Asia Pacific, CSA, MEA), And Segment Forecasts, 2024 - 2030

Report Overview

The global indium market size was valued at USD 1.03 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2030. Market growth worldwide is fueled by the rising demand for renewable energy solutions, expanding electronic products such as smartphones, tablets, and flat panels, and advancements in semiconductor technology.

U.S. indium market volume by product, 2014 - 2025 (Tons)

The growing adoption of solar power and other renewable energy technologies has led to an increased demand for indium, particularly in the production of thin-film solar cells. The unique properties of indium, such as its low melting point and excellent electrical conductivity, make it an essential component in these applications.

The electronics industry is also a key driver of the indium market, with the rapid growth of consumer electronics such as smartphones and tablets driving demand for indium tin oxide (ITO). ITO is used as a transparent conductive coating in devices such as touchscreens, flat-panel displays, and solar panels. The increasing demand for these devices has led to a surge in indium consumption, making the electronics industry a significant driver of market growth.

In addition to these factors, technological innovations in semiconductors and advanced electronic devices are also contributing to the growth of the indium market. The expansion of sectors such as artificial intelligence (AI), Internet of Things (IoT), and 5G technology requires more sophisticated semiconductor devices, which rely on indium. The introduction of 5G by major telecommunications companies has heightened the demand for indium phosphide (InP)-based components, demonstrating the direct influence of technological progress on the indium market.

Application Insights

Displays accounted for the largest market revenue share of 35.6% in 2023, owing to growing demand for electronic devices such as smartphones, tablets, and flat-panel displays. ITO provides excellent conductivity and transparency, making it ideal for touchscreens and LCDs. As consumer electronics evolve, ITO demand is expected to surge.

Global indium market revenue by application, 2016 (%)

Semiconductor materials are projected to grow at the fastest CAGR of 5.0% over the forecast period, driven by demand for high-speed, efficient devices. Indium is crucial for producing indium phosphide (InP), essential for advanced semiconductors used in 5G technology and data centers. 5G expansion and IoT growth drive demand for high-performance components, while innovations in semiconductor packaging techniques further enhance indium's importance.

Regional Insights

Asia Pacific indium market dominated the global indium market with a revenue share of 48.6% in 2023. The region is a hub for electronics manufacturing, driven by top manufacturers in China, Japan, and South Korea. These countries are major producers of smartphones, flat-panel displays, and advanced electronics that rely heavily on indium. Moroever, the growth of renewable energy technologies in APAC, such as solar panels with ITO, further bolsters demand for indium.

China Indium Market Trends

The indium market in China dominated the Asia Pacific indium market in 2023. The widespread adoption of digital technology has cemented ITO as the premier transparent conducting oxide in touchscreen devices. Indium's unique properties also drive demand in semiconductor manufacturing, particularly in China, where its high boiling point and low resistance properties are essential.

North America Indium Market Trends

The North America indium market was identified as a lucrative region in the global indium market in 2023. The region's semiconductor sector and sustainable energy initiatives drive demand for high-purity indium in advanced electronics and solar panels. The U.S. plays a significant role in shaping technology and innovation, further increasing demand. Efforts to boost local manufacturing and reduce reliance on imports also contribute to market growth, with market share expected to steadily rise.

The indium market in the U.S. is expected to grow rapidly in the coming years, owing to the presence of several companies producing semiconductors, ITO, solders, and alloys. Furthermore, advancements in automotive technology, such as infotainment systems and driver assistance features, are driving demand for indium-containing components. These factors are expected to propel the market forward.

Europe Indium Market Trends

The Europe indium market is anticipated to witness significant growth worldwide.The demand for indium in solar panel production is driven by the region's commitment to renewable energy and strict environmental regulations, particularly the EU's goal to achieve 32% of its energy from renewable sources by 2030. This demand is expected to increase, with indium playing a crucial role in solar panel production, further solidifying its market position.

The indium market in the UK held a substantial market share in the Europe indium market in 2023. The UK government's strategic emphasis on innovation and technology is driving demand for indium, particularly in the electronics and renewable energy sectors. Government funding for R&D initiatives is catalyzing the development of new indium-based applications, further solidifying the country's position as a hub for technological advancement.

Key Companies & Market Share Insights

Some key companies in the indium market include AIM Solder; ESPI Metals, Inc.; Avalon Advanced Materials Inc.; Indium Corporation; and others. Competitive advantages in the global indium industry will be driven by advanced extraction methods, refined processing, and improved material quality. Mergers and joint ventures will also enhance product portfolios and market share.

• AIM Solder is a manufacturer of tin/lead and lead-free solder materials for assembly. The company focuses on non-ferrous metals, including tin, lead, and bismuth alloys, as well as aluminum, babbitt, bronze, and zinc. The company offers a range of flux chemistries and advanced solder materials for various industries.

• Indium Corporation is a provider of refined materials, serving the electronics, semiconductor, and thermal management industries. Its product portfolio includes solders, fluxes, brazes, thermal interface materials, and other specialty products, including metals and compounds.

Recent Developments

• In June 2024, Indium Corporation introduced Durafuse HR, a solder paste utilizing Durafuse mixed-alloy technology, designed for high-reliability applications, offering improved thermal cycling performance.

• In October 2023,AIM Solder completed the acquisition of William Rowland Limited's solder products division, expanding its portfolio with solders and alloys, further solidifying its position in the industry

Indium Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global indium market report based on application and region:

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Displays

  • Semiconductor Materials

  • Solders & Alloys

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • Japan

    • China

    • India