Technavio Announces the Publication of its Research Report Global Indium Tin Oxide (ITO) Market 2016-2020
Technavio recognizes the following companies as the key players in the global indium tin oxide (ITO) market: 3M, Indium, Nitto Denko, Touch International, and Umicore Thin Film Products.
Other Prominent Vendors in the market are: Corning Precision Material Korea, Evonik, JX Nippon Mining & Metals, Mitsui Mining & Smelting, Tosoh, and ULVAC Technologies.
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Commenting on the report, an analyst from Technavios team said: Toxicity concerns and strict regulations will be a key trend for market growth. The production of nanoscale ITO powders using various hydrothermal methods is increasing. In addition, ITO powders are being blended with other categories of nanoparticles to improve the efficiency of the substrate and impart exclusive properties. However, incidents related to the hazardous effects of exposure to ITO are being reported globally. The exposure to ITO is found to be higher during recycling. Therefore, the increased adoption of ITO in various end-user industries is being increasingly evaluated by regulatory bodies; many safeguards and mandates for the industry are being implemented. Vendors will be forced to adopt sophisticated processes for the production and recycling of the compound in the future.
According to the report, innovation and research and development in downstream technologies will be a key driver for market growth. Increased R&D expenditure and innovation in processing and fabricating technologies are propelling market growth. Manufacturers are investing heavily in R&D because of the increasing demand for efficient and sophisticated products from end-user segments such as displays and PV. There has been a growing demand for materials and substrates that can facilitate efficient energy conversion in solar panels. This has enhanced R&D efforts to synthesize novel materials for incorporation into ITO and various inorganic nanomaterials. The semiconducting materials in conventional cells are likely to be replaced by inorganic nanorods in the future.
Further, the report states that shortage in production of indium will be a challenge for the market. The availability of indium is uncertain in the near future, and some countries have restricted their indium trade. For instance, China, the largest producer of indium, has significant import quotas and export duties on the trading of indium. Such economic protectionism and trade restrictions are affecting the availability of the compound globally and often result in supply shortages. Indium accounts for 90% of the total composition of ITO, and any fluctuations in the supply of indium will affect the supply of ITO and the downstream industries it serves.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Indium Tin Oxide (ITO)
ITO is made of tin oxide and indium oxide in a ratio of 9:1 by weight. It is transparent and colorless when applied in thin layers. The compound accounts for about 90% of the overall transparent conductive market and is extensively employed in many electronic devices that are used for military, medicinal, automotive, and other purposes and require brilliant display and touchscreen properties.
Technavios analysts forecast the global indium tin oxide (ITO) market to grow at a CAGR of 5.96% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global indium tin oxide (ITO) market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed profiles of the five prominent vendors operating in the market.
The market is divided into the following segments based on geography:
Technavio’s report, Global Indium Tin Oxide (ITO) Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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