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Top 5 Vendors in the Indium Tin Oxide Market from 2016 to 2020: Technavio
[August 26, 2016]

Top 5 Vendors in the Indium Tin Oxide Market from 2016 to 2020: Technavio


Technavio has announced the top five leading vendors in their recent global indium tin oxide (ITO) market report until 2020. This research report also lists six other prominent vendors that are expected to impact the market during the forecast period.

The global ITO market was valued at USD 2.59 billion in 2015 and is expected to reach USD 3.46 billion by 2020, growing at a CAGR of almost 6%. Indium is the major raw material used in the production of ITO; therefore, any fluctuation in the production or supply of indium directly affects the market. Indium is rare; its availability is limited to certain geographies. The reserves of indium are heavily concentrated in China, Canada, and Peru. The demand is high in Japan, Taiwan, and South Korea - the leading manufacturers of electronic products. Further, the price volatility of indium affects the primary consumption of the element in the production of ITO.

The ITO market in APAC is foreseen to reach USD 1.95 billion by 2020, growing at a CAGR of 5.39%. China is the leading producer of indium; it accounts for a share of about 62% of the total global indium supplies. Indium obtained as a byproduct during the refining of zinc ore is minimal; therefore, its availability is limited. Further, the fact that it is obtained as a byproduct elevates the cost as it is not exclusively refined.

Competitive vendor landscape

The global ITO market is oligopolistic in nature because of the presence of a few players such as 3M (News - Alert), Umicore Thin Film Products, Indium Corporation, Nitto Denko, and Touch International. These companies have an expanded portfolio of products and depend on their proprietary manufacturing technologies. Some of them have manufacturing facilities located worldwide and operate through strategic partnerships and joint ventures.

"New capacities are being set up by these companies to ensure proximity and easy access to the industries manufacturing end products such as solar panels, LCDs, thin film transistors, and semiconductors," says Chandrakumar Badala Jaganathan, one of the lead metals and minerals analysts from Technavio.

However, the ITO market structure has been disrupted by the entry of small and medium-scale companies, especially those from the US, China, and Germany. These players use various technologies to formulate ITO substrates and sell them at competitive prices. Most vendors in the global ITO market distinguish their products on the basis of technology, availability, formulation, and value addition.

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Top five ITO market vendors

3M

The company manufactures a range of products for industrial, electronics, safety, graphics, energy, healthcare, and consumer markets. Its major industrial products include vinyl, polyester, foil, and specialty industrial tapes and adhesives, packaging equipment, hot melt adhesives, sprays, and structural adhesives.

3M's Electronic Solutions Division (ESD) is a major manufacturer of sensors, components, advanced electronic thin substrates, and comprehensive systems for enhancing and managing electronic signal properties. The products help in industrial and factory automation, consumer electronics, touch panels, enterprise and networking, semiconductor, and component markets worldwide.

Indium Corporation

The company produces, refines, supplies, and fabricates indium and indium chemicals to solar, electronics, thermal management, and semiconductor markets. The company also sells its products online.

Indium Corporation supports thin-film deposition processes, offering materials for:

  • Sputtering
  • Evaporation
  • Plating

Nitto Denko

Nitto Denko is one of the leading providers of optical films, adhesives, and semiconductor devices. It caters to the transportation, house equipment, infrastructure, home appliances, electronic and medical devices, packaging, and personal care industries.

Nitto Denko markets its products such as tablet devices, smartphones, and several other portable electronic tools at a global level. It sells ITO films under the ELECRYSTA brand name.

Touch International

Touch International markets its products to medical, aerospace, military, industrial, transportation, and retail industries. Its offerings include:

  • Projected capacitive touch screens
  • Resistive touch screens
  • Surface capacitive touch screens

Umicore Thin Film Products

The company is a subsidiary of the Umicore Group. It was formed following the acquisition and subsequent merger with Unaxis Materials in Balzers, Liechtenstein, along with its branches in the US and Taiwan.

Umicore Thin Films Products provides a wide range of highly effective sputtering targets and evaporation materials. ITO is being used in the evaporation systems for depositing thin conductive transparent layers for a variety of applications, including sensors, LEDs, and antistatic coatings.

The other prominent vendors are:





Corning (News - Alert) Precision Material Korea
Evonik
JX Nippon Mining & Metals
Mitsui Mining & Smelting
Tosoh
ULVAC Technologies

Source (News - Alert): Technavio

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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