The global market for Indium Gallium Zinc Oxide (IGZO) was estimated to be worth US$ 161 million in 2024 and is forecast to a readjusted size of US$ 313 million by 2031 with a CAGR of 10.1% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Indium Gallium Zinc Oxide (IGZO) cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
Indium Gallium Zinc Oxide (IGZO) is an amorphous metal oxide semiconductor material composed of the oxides of three metallic elements: indium (In), gallium (Ga), and zinc (Zn). Its chemical formula is typically represented as In2O3*Ga2O3*ZnO, and it exhibits high electron mobility (approximately 10-30 cm2/V*s, which is 20-30 times that of amorphous silicon), high transparency (visible light transmittance >85%), and low power consumption. IGZO is primarily used as the channel layer material in thin-film transistors (TFTs), particularly in the display panel sector, where it significantly enhances screen resolution, refresh rate, and energy efficiency while supporting flexible display technologies (such as rollable or foldable screens).
Global sales of indium gallium zinc oxide reached 145 tons in 2024, with an average price of USD 1,108 per Kg.
Driving factors
Display technology upgrades: The demand for high-resolution, low-power screens is surging in smartphones, in-vehicle displays, and AR/VR devices. For example, the Apple iPad Air and Apple Watch adopt IGZO technology, reducing power consumption by 57% compared to previous generations.
OLED and Micro LED Synergy: IGZO serves as the drive circuit material for OLED panels, improving light emission uniformity and reducing costs; simultaneously, IGZO-based mass transfer technology for Micro LED drives its adoption in high-end displays.
Policy Support: China has included indium in the "Strategic Minerals Directory," promoting the domestic production of IGZO target materials (e.g., Longhua Technology has become the sole domestic supplier).
Challenges
Indium resource scarcity: 90% of global indium relies on zinc ore by-products, and China's export quotas are being reduced (limited to 30% of annual production starting in 2024), which may increase raw material costs.
Technological competition: Low-temperature polysilicon (LTPS) and two-dimensional semiconductors (such as molybdenum disulfide) pose a substitution threat to IGZO in certain applications.
As a core material for display technology, IGZO will benefit significantly from the growing demand for high resolution, flexibility, and low power consumption. Despite challenges such as indium resource constraints and technological competition, its expanding applications in emerging fields like AR/VR, automotive displays, and Micro LED, coupled with the rise of China's supply chain, will drive continued market expansion.
This report aims to provide a comprehensive presentation of the global market for Indium Gallium Zinc Oxide (IGZO), focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Indium Gallium Zinc Oxide (IGZO) by region & country, by Type, and by Application.
The Indium Gallium Zinc Oxide (IGZO) market size, estimations, and forecasts are provided in terms of sales volume (K MT) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Indium Gallium Zinc Oxide (IGZO).
Market Segmentation
By Company
- Mitsui Metals
- ULVAC
- JX Advanced Metals
- ZL Advanced Materials
- Wuhu Yingri Technology
- Vital Thin Film Materials
- Enam Optoelectronic Material
- APG Material Technology
- American Elements
- ANP Materials
Segment by Type
- Planar IGZO
- Rotating IGZO
Segment by Application
- Display Panel Field
- Flexible Electronic Devices
- Power Semiconductors and Sensors
- Other
By Region
- North America
- Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Netherlands
- Nordic Countries
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Indium Gallium Zinc Oxide (IGZO) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Indium Gallium Zinc Oxide (IGZO) in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Indium Gallium Zinc Oxide (IGZO) in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Table of Contents
1 Market Overview
- 1.1 Indium Gallium Zinc Oxide (IGZO) Product Introduction
- 1.2 Global Indium Gallium Zinc Oxide (IGZO) Market Size Forecast
- 1.2.1 Global Indium Gallium Zinc Oxide (IGZO) Sales Value (2020-2031)
- 1.2.2 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume (2020-2031)
- 1.2.3 Global Indium Gallium Zinc Oxide (IGZO) Sales Price (2020-2031)
- 1.3 Indium Gallium Zinc Oxide (IGZO) Market Trends & Drivers
- 1.3.1 Indium Gallium Zinc Oxide (IGZO) Industry Trends
- 1.3.2 Indium Gallium Zinc Oxide (IGZO) Market Drivers & Opportunity
- 1.3.3 Indium Gallium Zinc Oxide (IGZO) Market Challenges
- 1.3.4 Indium Gallium Zinc Oxide (IGZO) Market Restraints
- 1.4 Assumptions and Limitations
- 1.5 Study Objectives
- 1.6 Years Considered
2 Competitive Analysis by Company
- 2.1 Global Indium Gallium Zinc Oxide (IGZO) Players Revenue Ranking (2024)
- 2.2 Global Indium Gallium Zinc Oxide (IGZO) Revenue by Company (2020-2025)
- 2.3 Global Indium Gallium Zinc Oxide (IGZO) Players Sales Volume Ranking (2024)
- 2.4 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume by Company Players (2020-2025)
- 2.5 Global Indium Gallium Zinc Oxide (IGZO) Average Price by Company (2020-2025)
- 2.6 Key Manufacturers Indium Gallium Zinc Oxide (IGZO) Manufacturing Base and Headquarters
- 2.7 Key Manufacturers Indium Gallium Zinc Oxide (IGZO) Product Offered
- 2.8 Key Manufacturers Time to Begin Mass Production of Indium Gallium Zinc Oxide (IGZO)
- 2.9 Indium Gallium Zinc Oxide (IGZO) Market Competitive Analysis
- 2.9.1 Indium Gallium Zinc Oxide (IGZO) Market Concentration Rate (2020-2025)
- 2.9.2 Global 5 and 10 Largest Manufacturers by Indium Gallium Zinc Oxide (IGZO) Revenue in 2024
- 2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Indium Gallium Zinc Oxide (IGZO) as of 2024)
- 2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Type
- 3.1 Introduction by Type
- 3.1.1 Planar IGZO
- 3.1.2 Rotating IGZO
- 3.2 Global Indium Gallium Zinc Oxide (IGZO) Sales Value by Type
- 3.2.1 Global Indium Gallium Zinc Oxide (IGZO) Sales Value by Type (2020 VS 2024 VS 2031)
- 3.2.2 Global Indium Gallium Zinc Oxide (IGZO) Sales Value, by Type (2020-2031)
- 3.2.3 Global Indium Gallium Zinc Oxide (IGZO) Sales Value, by Type (%) (2020-2031)
- 3.3 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume by Type
- 3.3.1 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume by Type (2020 VS 2024 VS 2031)
- 3.3.2 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume, by Type (2020-2031)
- 3.3.3 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume, by Type (%) (2020-2031)
- 3.4 Global Indium Gallium Zinc Oxide (IGZO) Average Price by Type (2020-2031)
4 Segmentation by Application
- 4.1 Introduction by Application
- 4.1.1 Display Panel Field
- 4.1.2 Flexible Electronic Devices
- 4.1.3 Power Semiconductors and Sensors
- 4.1.4 Other
- 4.2 Global Indium Gallium Zinc Oxide (IGZO) Sales Value by Application
- 4.2.1 Global Indium Gallium Zinc Oxide (IGZO) Sales Value by Application (2020 VS 2024 VS 2031)
- 4.2.2 Global Indium Gallium Zinc Oxide (IGZO) Sales Value, by Application (2020-2031)
- 4.2.3 Global Indium Gallium Zinc Oxide (IGZO) Sales Value, by Application (%) (2020-2031)
- 4.3 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume by Application
- 4.3.1 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume by Application (2020 VS 2024 VS 2031)
- 4.3.2 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume, by Application (2020-2031)
- 4.3.3 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume, by Application (%) (2020-2031)
- 4.4 Global Indium Gallium Zinc Oxide (IGZO) Average Price by Application (2020-2031)
5 Segmentation by Region
- 5.1 Global Indium Gallium Zinc Oxide (IGZO) Sales Value by Region
- 5.1.1 Global Indium Gallium Zinc Oxide (IGZO) Sales Value by Region: 2020 VS 2024 VS 2031
- 5.1.2 Global Indium Gallium Zinc Oxide (IGZO) Sales Value by Region (2020-2025)
- 5.1.3 Global Indium Gallium Zinc Oxide (IGZO) Sales Value by Region (2026-2031)
- 5.1.4 Global Indium Gallium Zinc Oxide (IGZO) Sales Value by Region (%), (2020-2031)
- 5.2 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume by Region
- 5.2.1 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume by Region: 2020 VS 2024 VS 2031
- 5.2.2 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume by Region (2020-2025)
- 5.2.3 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume by Region (2026-2031)
- 5.2.4 Global Indium Gallium Zinc Oxide (IGZO) Sales Volume by Region (%), (2020-2031)
- 5.3 Global Indium Gallium Zinc Oxide (IGZO) Average Price by Region (2020-2031)
- 5.4 North America
- 5.4.1 North America Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 5.4.2 North America Indium Gallium Zinc Oxide (IGZO) Sales Value by Country (%), 2024 VS 2031
- 5.5 Europe
- 5.5.1 Europe Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 5.5.2 Europe Indium Gallium Zinc Oxide (IGZO) Sales Value by Country (%), 2024 VS 2031
- 5.6 Asia Pacific
- 5.6.1 Asia Pacific Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 5.6.2 Asia Pacific Indium Gallium Zinc Oxide (IGZO) Sales Value by Region (%), 2024 VS 2031
- 5.7 South America
- 5.7.1 South America Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 5.7.2 South America Indium Gallium Zinc Oxide (IGZO) Sales Value by Country (%), 2024 VS 2031
- 5.8 Middle East & Africa
- 5.8.1 Middle East & Africa Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 5.8.2 Middle East & Africa Indium Gallium Zinc Oxide (IGZO) Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
- 6.1 Key Countries/Regions Indium Gallium Zinc Oxide (IGZO) Sales Value Growth Trends, 2020 VS 2024 VS 2031
- 6.2 Key Countries/Regions Indium Gallium Zinc Oxide (IGZO) Sales Value and Sales Volume
- 6.2.1 Key Countries/Regions Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 6.2.2 Key Countries/Regions Indium Gallium Zinc Oxide (IGZO) Sales Volume, 2020-2031
- 6.3 United States
- 6.3.1 United States Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 6.3.2 United States Indium Gallium Zinc Oxide (IGZO) Sales Value by Type (%), 2024 VS 2031
- 6.3.3 United States Indium Gallium Zinc Oxide (IGZO) Sales Value by Application, 2024 VS 2031
- 6.4 Europe
- 6.4.1 Europe Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 6.4.2 Europe Indium Gallium Zinc Oxide (IGZO) Sales Value by Type (%), 2024 VS 2031
- 6.4.3 Europe Indium Gallium Zinc Oxide (IGZO) Sales Value by Application, 2024 VS 2031
- 6.5 China
- 6.5.1 China Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 6.5.2 China Indium Gallium Zinc Oxide (IGZO) Sales Value by Type (%), 2024 VS 2031
- 6.5.3 China Indium Gallium Zinc Oxide (IGZO) Sales Value by Application, 2024 VS 2031
- 6.6 Japan
- 6.6.1 Japan Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 6.6.2 Japan Indium Gallium Zinc Oxide (IGZO) Sales Value by Type (%), 2024 VS 2031
- 6.6.3 Japan Indium Gallium Zinc Oxide (IGZO) Sales Value by Application, 2024 VS 2031
- 6.7 South Korea
- 6.7.1 South Korea Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 6.7.2 South Korea Indium Gallium Zinc Oxide (IGZO) Sales Value by Type (%), 2024 VS 2031
- 6.7.3 South Korea Indium Gallium Zinc Oxide (IGZO) Sales Value by Application, 2024 VS 2031
- 6.8 Southeast Asia
- 6.8.1 Southeast Asia Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 6.8.2 Southeast Asia Indium Gallium Zinc Oxide (IGZO) Sales Value by Type (%), 2024 VS 2031
- 6.8.3 Southeast Asia Indium Gallium Zinc Oxide (IGZO) Sales Value by Application, 2024 VS 2031
- 6.9 India
- 6.9.1 India Indium Gallium Zinc Oxide (IGZO) Sales Value, 2020-2031
- 6.9.2 India Indium Gallium Zinc Oxide (IGZO) Sales Value by Type (%), 2024 VS 2031
- 6.9.3 India Indium Gallium Zinc Oxide (IGZO) Sales Value by Application, 2024 VS 2031
7 Company Profiles
- 7.1 Mitsui Metals
- 7.1.1 Mitsui Metals Company Information
- 7.1.2 Mitsui Metals Introduction and Business Overview
- 7.1.3 Mitsui Metals Indium Gallium Zinc Oxide (IGZO) Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.1.4 Mitsui Metals Indium Gallium Zinc Oxide (IGZO) Product Offerings
- 7.1.5 Mitsui Metals Recent Development
- 7.2 ULVAC
- 7.2.1 ULVAC Company Information
- 7.2.2 ULVAC Introduction and Business Overview
- 7.2.3 ULVAC Indium Gallium Zinc Oxide (IGZO) Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.2.4 ULVAC Indium Gallium Zinc Oxide (IGZO) Product Offerings
- 7.2.5 ULVAC Recent Development
- 7.3 JX Advanced Metals
- 7.3.1 JX Advanced Metals Company Information
- 7.3.2 JX Advanced Metals Introduction and Business Overview
- 7.3.3 JX Advanced Metals Indium Gallium Zinc Oxide (IGZO) Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.3.4 JX Advanced Metals Indium Gallium Zinc Oxide (IGZO) Product Offerings
- 7.3.5 JX Advanced Metals Recent Development
- 7.4 ZL Advanced Materials
- 7.4.1 ZL Advanced Materials Company Information
- 7.4.2 ZL Advanced Materials Introduction and Business Overview
- 7.4.3 ZL Advanced Materials Indium Gallium Zinc Oxide (IGZO) Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.4.4 ZL Advanced Materials Indium Gallium Zinc Oxide (IGZO) Product Offerings
- 7.4.5 ZL Advanced Materials Recent Development
- 7.5 Wuhu Yingri Technology
- 7.5.1 Wuhu Yingri Technology Company Information
- 7.5.2 Wuhu Yingri Technology Introduction and Business Overview
- 7.5.3 Wuhu Yingri Technology Indium Gallium Zinc Oxide (IGZO) Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.5.4 Wuhu Yingri Technology Indium Gallium Zinc Oxide (IGZO) Product Offerings
- 7.5.5 Wuhu Yingri Technology Recent Development
- 7.6 Vital Thin Film Materials
- 7.6.1 Vital Thin Film Materials Company Information
- 7.6.2 Vital Thin Film Materials Introduction and Business Overview
- 7.6.3 Vital Thin Film Materials Indium Gallium Zinc Oxide (IGZO) Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.6.4 Vital Thin Film Materials Indium Gallium Zinc Oxide (IGZO) Product Offerings
- 7.6.5 Vital Thin Film Materials Recent Development
- 7.7 Enam Optoelectronic Material
- 7.7.1 Enam Optoelectronic Material Company Information
- 7.7.2 Enam Optoelectronic Material Introduction and Business Overview
- 7.7.3 Enam Optoelectronic Material Indium Gallium Zinc Oxide (IGZO) Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.7.4 Enam Optoelectronic Material Indium Gallium Zinc Oxide (IGZO) Product Offerings
- 7.7.5 Enam Optoelectronic Material Recent Development
- 7.8 APG Material Technology
- 7.8.1 APG Material Technology Company Information
- 7.8.2 APG Material Technology Introduction and Business Overview
- 7.8.3 APG Material Technology Indium Gallium Zinc Oxide (IGZO) Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.8.4 APG Material Technology Indium Gallium Zinc Oxide (IGZO) Product Offerings
- 7.8.5 APG Material Technology Recent Development
- 7.9 American Elements
- 7.9.1 American Elements Company Information
- 7.9.2 American Elements Introduction and Business Overview
- 7.9.3 American Elements Indium Gallium Zinc Oxide (IGZO) Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.9.4 American Elements Indium Gallium Zinc Oxide (IGZO) Product Offerings
- 7.9.5 American Elements Recent Development
- 7.10 ANP Materials
- 7.10.1 ANP Materials Company Information
- 7.10.2 ANP Materials Introduction and Business Overview
- 7.10.3 ANP Materials Indium Gallium Zinc Oxide (IGZO) Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.10.4 ANP Materials Indium Gallium Zinc Oxide (IGZO) Product Offerings
- 7.10.5 ANP Materials Recent Development
8 Industry Chain Analysis
- 8.1 Indium Gallium Zinc Oxide (IGZO) Industrial Chain
- 8.2 Indium Gallium Zinc Oxide (IGZO) Upstream Analysis
- 8.2.1 Key Raw Materials
- 8.2.2 Raw Materials Key Suppliers
- 8.2.3 Manufacturing Cost Structure
- 8.3 Midstream Analysis
- 8.4 Downstream Analysis (Customers Analysis)
- 8.5 Sales Model and Sales Channels
- 8.5.1 Indium Gallium Zinc Oxide (IGZO) Sales Model
- 8.5.2 Sales Channel
- 8.5.3 Indium Gallium Zinc Oxide (IGZO) Distributors
9 Research Findings and Conclusion
10 Appendix
- 10.1 Research Methodology
- 10.1.1 Methodology/Research Approach
- 10.1.1.1 Research Programs/Design
- 10.1.1.2 Market Size Estimation
- 10.1.1.3 Market Breakdown and Data Triangulation
- 10.1.2 Data Source
- 10.1.2.1 Secondary Sources
- 10.1.2.2 Primary Sources
- 10.2 Author Details
- 10.3 Disclaimer