인듐 시장 : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the indium market size is projected to be 2.51 kilotons in 2025, 2.68 kilotons in 2026, and reach 3.73 kilotons by 2031, growing at a CAGR of 6.82% from 2026 to 2031.

This report is Segmented by Source (Primary (Refined From Zinc Residues) and Secondary/Recycled), Form (High-Purity Indium Compounds, and More), Application (Flat-Panel and Flexible Displays, and More), End-User Industry (Electronics and Semiconductors, and More), and Geography (Asia Pacific, North America, Europe, South America, Middle East and Africa). The Market Forecasts are Provided in Terms of Volume (tons).

Global Indium Market Trends and Insights

Growing Usage of ITO in Next-Gen Flexible and Foldable Displays

Flexible OLED (Organic Light Emitting Diode) and foldable smartphone panels continue to favor ITO (Indium Tin Oxide) for its unmatched transparency and conductivity. Low-temperature sputtering and post-annealing now hold sheet resistance below 15 Ω/sq at bend radii under 5 mm, raising indium intensity per panel as multilayer stacks proliferate. Samsung Display and BOE (Beijing Oriental Electronics) each ramped Gen-6 AMOLED (Active-Matrix Organic Light-Emitting Diode) lines in 2025 that consume about 20-30% more ITO target material than rigid equivalents. Adoption of ITZO (Indium-Tin-Zinc Oxide) and ITO-silver mesh architectures in premium tablets and automotive center-information displays drives an additional 5-8% indium uptake to suppress crystallization at low process temperatures. Foldable-device shipments are expected to triple between 2025 and 2028, implying 80-100 tons of incremental annual indium demand if current utilization rates persist.

Expansion of Low-Temperature Indium Alloys in Advanced Packaging and Heterogeneous Integration

Flip-chip ball-grid arrays and large-body AI accelerator packages adopt indium and indium-silver thermal interface materials that reach thermal conductivities of 71-86 W/m*K while surviving 1,000 thermal cycles. SAC-In solders lower reflow temperatures by 15-20°C, mitigating warpage in complex chiplet assemblies. Foundries expect indium-based micro-bump bonding to reach 40-50 tons of annual demand by 2028 as 2.5D and 3D stacks proliferate. Intel and TSMC roadmaps highlight low-temperature bonding as a yield enabler, indirectly validating this consumption outlook.

Availability of Alternative Transparent Conductors (Graphene, Ag-NW, CNT, IGZO)

U.S. tariffs on Chinese indium compounds, in place since 2025, boosted the adoption of graphene and silver-nanowire films in North America and Europe. Cambrios and C3Nano products now reach sub-10 Ω/sq resistances at over 90% transmittance on flexible substrates. Graphene oxide reduced by laser annealing offers superior mechanical compliance, though costs remain three to five times higher than sputtered ITO. IGZO (Indium Gallium Zinc Oxide) backplanes eliminate a separate transparent-conductor layer, cutting indium usage per panel by up to 20%. Market share of these alternatives is likely to plateau near 15 % by 2031 because display fabs rely on entrenched ITO process flows.

Other drivers and restraints analyzed in the detailed report include:

1. Critical-Raw-Material Resilience Policies Boosting European Strategic Stockpiles
2. Increasing Production of High-Efficiency Solar Panels Globally
3. Chronic Occupational-Health Concerns Driving Stricter Exposure Limits

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Primary output supplied 67.78% of the Indium market size in 2025, but growth is capped by plateauing zinc-mine grades and fresh Chinese export licensing. Korea Zinc's USD 7.4 billion Tennessee complex will be the first large-scale Western Hemisphere addition in two decades, yet commissioning will not start before 2029. Secondary supply is accelerating with 268% year-on-year gains reported in China, and global recovery yields approaching 15%. Indium Corporation, DOWA, and Mitsui Kinzoku now guarantee 90% reclaim rates on spent sputtering targets, signaling that circular-economy premiums are becoming mainstream.

Secondary/Recycled volumes are forecast to expand at a 7.22% CAGR during the forecast period (2026-2031), a rate twice that of primary material, and could touch 50-60% recovery efficiency by 2031. Basel Convention controls on e-waste exports and extended-producer-responsibility schemes in the EU and California funnel more scrap to licensed refiners. If Sverdrup's modeled 200-300 tons potential is realized, recycled flows would meet roughly one-fifth of forecast demand, easing pressure on the Indium market size while lowering life-cycle emissions.

High-purity indium compounds held 45.22% of the indium market share in 2025 and are tracking a 7.03% CAGR through 2031, buoyed by surging demand for InP lasers, InGaAs photodetectors, and InSb infrared arrays. Lumentum's 240,000 sq ft Greensboro fab begins ramping six-inch InP wafers in 2028, creating a steady pull for 6N-7N feedstock. Imec's Smart Cut wafer-reclaim platform expects to reduce substrate losses by a factor of ten, moderating long-run metal intensity.

Ingot, stick, and alloy segments remain tied to zinc economics and trade closely with LME zinc, whereas compound prices reflect semiconductor clean-room purity premiums of 30-50%. Indium-silver alloys that deliver up to 86 W/m*K are gaining share in AI accelerator thermal management. The bifurcated pricing landscape underscores how specialized optoelectronics keep the Indium market insulated from purely cyclical metals swings.

Geography Analysis

Asia Pacific controlled 48.66% of Indium market size in 2025 and will maintain the fastest regional expansion at 7.43% CAGR to 2031. China accounts for the majority of refined output, while Korea Zinc's domestic smelting and Yunnan Tin's breakthroughs in ITO targets solidify supply leadership. Japan's DOWA and Mitsui Kinzoku focus on high-purity and recycled streams, which shield them from zinc-price volatility.

North America is shifting from a pure importer to a partial producer. Korea Zinc's Clarksville complex, operational from 2029, and Lumentum's InP laser fab will together anchor a secure regional supply chain. Section 301 duties on Chinese indium compounds, effective net rates near 54%, further encourage domestic sourcing.

Europe's Critical Raw Materials Act compels 10% extraction and 40% processing within the bloc, leading Italy to budget EUR 450 million (USD 508.7 million) for a 200-ton national reserve. Imec's NanoIC pilot line, opened in February 2026, adds downstream pull for 7N indium compounds. South America and the Middle East-Africa together remain below 10% of volume, but idle zinc assets in Brazil and South Africa represent a callable swing capacity should prices stay above USD 500 kg.

1. DOWA HOLDINGS CO., LTD.
2. 5N Plus
3. AIM Solder
4. Belmont Metals
5. Changsha Santech Materials Co., Ltd.
6. Guangxi Debang Technology Co. Ltd.
7. Indium Corporation
8. Indium Corporation (Suzhou) Co., LTD
9. KOREAZINC
10. Nyrstar
11. PPM Pure Metals GmbH
12. Teck Resources Limited
13. Umicore
14. Vital Materials
15. Young Poong Co. Ltd.
16. Yunnan Tin Industry Co. Ltd.
17. Zhuzhou Keneng New Material
18. Zhuzhou Smelting Group Co. Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Growing usage of ITO in next-gen flexible and foldable displays
  • 4.2.2 Expansion of low-temperature indium alloys in advanced packaging and heterogeneous integration
  • 4.2.3 Critical-raw-material resilience policies boosting European strategic stockpiles
  • 4.2.4 Increasing production of high-efficiency solar panels globally
  • 4.2.5 Demand surge for InGaN micro-LEDs in AR/VR headsets
• 4.3 Market Restraints
  • 4.3.1 Availability of alternative transparent conductors (graphene, Ag-NW, CNT, and IGZO)
  • 4.3.2 Chronic occupational-health concerns driving stricter exposure limits
  • 4.3.3 ESG-driven decarbonisation pressure on indium recovery smelters
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Degree of Competition

5 Market Size and Growth Forecasts (Volume)

• 5.1 By Source
  • 5.1.1 Primary (Refined from zinc residues)
  • 5.1.2 Secondary/Recycled
• 5.2 By Form
  • 5.2.1 Indium Ingot and Stick
  • 5.2.2 Indium Alloy (In-Sn, In-Ag, In-Ga)
  • 5.2.3 Indium Oxide/ITO Sputtering Target
  • 5.2.4 High-purity Indium Compounds (InP, InSb, and InAs)
• 5.3 By Application
  • 5.3.1 Flat-Panel and Flexible Displays
  • 5.3.2 Photovoltaics (CIGS and Perovskite)
  • 5.3.3 Semiconductor and Optoelectronic Devices
  • 5.3.4 Solders and Thermal Interface Materials
  • 5.3.5 Others (Nanotechnology, Research)
• 5.4 By End-user Industry
  • 5.4.1 Electronics and Semiconductors
  • 5.4.2 Energy
  • 5.4.3 Automotive and Transportation
  • 5.4.4 Aerospace and Defence
  • 5.4.5 Others
• 5.5 By Geography
  • 5.5.1 Asia Pacific
    • 5.5.1.1 China
    • 5.5.1.2 Japan
    • 5.5.1.3 South Korea
    • 5.5.1.4 India
    • 5.5.1.5 Rest of Asia Pacific
  • 5.5.2 North America
    • 5.5.2.1 United States
    • 5.5.2.2 Canada
    • 5.5.2.3 Mexico
  • 5.5.3 Europe
    • 5.5.3.1 Germany
    • 5.5.3.2 United Kingdom
    • 5.5.3.3 France
    • 5.5.3.4 Italy
    • 5.5.3.5 Spain
    • 5.5.3.6 Russia
    • 5.5.3.7 Rest of Europe
  • 5.5.4 South America
    • 5.5.4.1 Brazil
    • 5.5.4.2 Argentina
    • 5.5.4.3 Rest of South America
  • 5.5.5 Middle-East and Africa
    • 5.5.5.1 Saudi Arabia
    • 5.5.5.2 South Africa
    • 5.5.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share (%)/Ranking Analysis
• 6.4 Company Profiles (includes Global Overview, Market Overview, Core Segments, Financials, Strategic Information, Products and Services, and Recent Developments)
  • 6.4.1 DOWA HOLDINGS CO., LTD.
  • 6.4.2 5N Plus
  • 6.4.3 AIM Solder
  • 6.4.4 Belmont Metals
  • 6.4.5 Changsha Santech Materials Co., Ltd.
  • 6.4.6 Guangxi Debang Technology Co. Ltd.
  • 6.4.7 Indium Corporation
  • 6.4.8 Indium Corporation (Suzhou) Co., LTD
  • 6.4.9 KOREAZINC
  • 6.4.10 Nyrstar
  • 6.4.11 PPM Pure Metals GmbH
  • 6.4.12 Teck Resources Limited
  • 6.4.13 Umicore
  • 6.4.14 Vital Materials
  • 6.4.15 Young Poong Co. Ltd.
  • 6.4.16 Yunnan Tin Industry Co. Ltd.
  • 6.4.17 Zhuzhou Keneng New Material
  • 6.4.18 Zhuzhou Smelting Group Co. Ltd.

7 Market Opportunities and Future Outlook

• 7.1 White-space and Unmet-need Assessment