A key factor driving the growth of the market is the increasing demand for LCDs, which is expected to drive the indium market. Most of the indium produced is used as ITO in LCDs. The demand for bigger displays and tablets is high, with TV screen size being the biggest driving force during the forecast period.
This market research report on the global indium market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increased use of indium in PV as one of the key emerging trends in the global indium market:
Global indium market: Increased use of indium in PV
Indium is used as CIGS solar panels in PV cells in the form of a thin-film photovoltaic. It represents a small part of the current demand for indium. However, improvements in production efficiency and material intensity of CIGS solar cells can help increase their adoption thereby fueling the demand for indium. The thin-film photovoltaics have numerous advantages over conventional solar energy technologies as they are lightweight, can be applied to uneven surfaces, and they can be rolled up when not in use. CIGS help in achieving high-conversion efficiencies at low costs.
“Vendors are investing in R&D activities for flexible CIGS solar cells, which can help yield high production throughput. Flexible CIGS solar cells can be used in roofing materials, in other building-integrated photovoltaics and in various applications in the aerospace, military, and recreational industries,” says a senior market research analyst at Technavio.
Global indium market: Segmentation analysis
This market research report segments the global indium market by application (ITO thin film coatings, solders and alloys, and others), and geographical regions (APAC, EMEA, and the Americas).
The ITO thin film coatings segment dominated the market with a share of 65%, which is expected to increase further during the forecast period. The market share of the other two segments is expected to see a small decrease in 2022.
APAC led the market in 2017 with close to 38% of the market share in 2017, followed by the Americas and EMEA respectively. The market in APAC is expected to exhibit the highest increase in market share over the forecast period while EMEA and the Americas are expected to see a decline in their market shares.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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