Indium Market Competition & Maintaining The Foremost Spot By Forecast 2022-2030 in Market Research Community
- June 5, 2023, 1:17 a.m.
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Indium Market Insights:
The estimated value of the Indium Market Size in 2021 was USD 450.5 million, with a projected Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period of 2022-2030.
With unique physical and chemical properties, indium is a valuable metal widely utilized in diverse industries. Its soft, silvery-white appearance sets it apart, and it is primarily extracted as a by-product during the mining and refining of zinc and lead.
The indium market encompasses various applications, including electronic and electrical, alloys, coatings, and others. Among these, the electronic and electrical segment holds the largest share, accounting for over 60% of the market in 2021. The increasing demand for indium-based alloys and coatings in the electronics industry drives this segment's growth. Indium is extensively used in the manufacturing of touchscreens, flat panel displays, photovoltaic cells, and other electronic components due to its exceptional conductivity, thermal stability, and optical properties.
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The coatings segment is projected to experience substantial growth during the forecast period, while the alloys segment ranks second in application. This growth is attributed to the increasing demand for indium-based coatings in the aerospace and defense industries. Indium coatings are widely used for corrosion resistance and electrical conductivity in various applications such as aircraft parts, satellite components, and more.
The indium market has been geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2021, Asia Pacific emerged as the largest market for indium, capturing over 60% of the market share. This growth is driven by the increasing demand for indium in the electronics and automotive industries, particularly in countries like China, Japan, and South Korea. Following Asia Pacific, North America and Europe rank as the second and third-largest markets, respectively. This can be attributed to the high adoption rate of indium-based products and the presence of major market players in these regions.
Market Segmentation
By Product Type:
Primary, Secondary, and Type III
By Applications :
Flat Panel Displays, ITO, Semiconductor Materials, Alloys, Batteries, Photovoltaics, Solders, Thermal Interface Materials. And Others
By Geography:
North America, Europe, Asia Pacific,
Latin America, Middle East and Africa.
The key players in the indium market application include Korea Zinc Co., Ltd., Umicore SA, Indium Corporation, Nyrstar NV, Asahi Holdings, Inc., Teck Resources Limited, Guangxi Debang Trading Co., Ltd., and Zhuzhou Keneng New Material Co., Ltd. These companies are actively involved in product development, strategic collaborations, and mergers and acquisitions to expand their market presence and increase their product portfolio.
To summarize, the indium market is experiencing growth due to the rising demand for indium-based products across multiple industries globally. The market is divided into applications such as electronic and electrical, alloys, coatings, and others. With increased investments in research and development by both companies and governments, the indium market is projected to exhibit significant growth in the foreseeable future.
The study provides answers to the following key questions:
- What type of customers buying the products and services from companies operating in the Indium Market?
- What will be the roadmap for the product manufacturers operating in the Indium Market for the forecast period, 2022-2030?
- What are the recent developments in the competitive landscape to look out for during the estimated period?
- What are the major trends influencing customers’ lives and their buying behaviour?
- How can brands best communicate with the customers they intend to target?
- When, where and how the customers want to use or consume the products or services?
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