Indium Tin Oxide (ITO) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Indium Tin Oxide (ITO) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global indium tin oxide (ITO) market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 1.9% during 2023-2028.

ITO is a transparent semiconductor that is composed of indium, tin and oxygen. It is fabricated through the electron beam evaporation or sputter deposition techniques and is utilized in the form of a thin protective coating over mechanical equipment. Owing to its physical properties, such as colorfastness, electromagnetic induction shielding, ultraviolet resistance and high transparency, ITO finds application in the manufacturing of touch panels, sensors, flat panels, electroluminescent and liquid-crystal displays (ELD/LCD), photovoltaic cells and heat reflective coatings. It is also used for minimizing radio frequency interference on touchscreens and shield glass windows and doors.

The growing electronics industry, along with the increasing utilization of smart devices across the globe, is among the key factors driving the growth of the market. ITO is extensively used in the production of screens and touch panels in televisions, tablets, smartphones, cameras and computer monitors. The increasing preference for smart automobiles equipped with advanced driver assistance systems (ADAS) is also providing a boost to the market growth. Furthermore, the growing adoption of ITO in the manufacturing of thin-film photovoltaic (PV) cells is acting as another growth-inducing factor. In comparison to the traditionally used solar energy systems, they are more cost-effective and have a higher light absorption rate and can be applied to uneven surfaces as well. Other factors favoring the market growth include the utilization of ITO in sodium vapor lamps for street and industrial lighting. These lamps reflect infrared/heat waves to the bulb, thus keeping them warmer and improving their efficiency in cold climatic conditions.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global indium tin oxide (ITO) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology and application.

Breakup by Technology:

Sputtering
Vacuum Evaporation
Chemical Vapour Deposition
Spray Pyrolysis
Others

Breakup by Application:

Electrochromic Displays and LCDs
Touch Panels
Photovoltaics
Transparent Electrodes
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the top indium tin oxide manufacturers being 3M Company, American Elements, Densitron Technologies, EFUN Technology, Umicore, Indium Corporation, Keeling & Walker Ltd, Kurt J. Lesker Company, Mitsui Mining & Smelting Co., Ltd., Nitto Denko Corporation, Samsung Corning Precision Material, Sollensys, Tosoh Corporation, Touch International Inc., etc.

Key Questions Answered in This Report

1. What was the size of the global indium tin oxide (ITO) market in 2022?
2. What is the expected growth rate of the global indium tin oxide (ITO) market during 2023-2028?
3. What are the key factors driving the global indium tin oxide (ITO) market?
4. What has been the impact of COVID-19 on the global indium tin oxide (ITO) market?
5. What is the breakup of the global indium tin oxide (ITO) market based on the technology?
6. What are the key regions in the global indium tin oxide (ITO) market?
7. Who are the key players/companies in the global indium tin oxide (ITO) market?