Indium is an unique transition metal which plays an important role in the global energy transition. An increase in the solar energy and LED sectors is expected to drive global indium demand in the next 10-15 years. Currently about 45% of all indium is used to make indium tin oxide which is used in solar cells and flat panel displays (LCDs - liquid crystal displays). For both of these applications the ITO is used to establish an electric current over the device and to pass light through it. In 2020 Indium was added to the EU Critical Raw Materials List.
- Flat panel displays
- PV cells
- Thermal interface material
- Batteries including mercury-free
- Alloys and compounds
- Semiconductors and LEDs
Key industries of demand:
The growing demand for the electronics industry including the thin-film solar PV market and semiconductor market has been propelling the global indium market. Emerging economies such as China and India are expected to open new avenues of opportunity for the metal. The demand for indium has been growing, and the trend is likely to continue in coming years due to demand for electronic goods and renewable solar energy.
During 2020 indium pricing held steady around $300 per kg according to Kitco and the current level is at $340 per kg (April 2021). However, the price has fluctuated significantly over the past five years and peaked at $491 per kg in April 2018, driven by increased demand for liquid crystal displays (LCDs). In late 2020 the indium price fell back to its fundamental level of $300 per kg losing 65% in price due to the Covid pandemic.
Indium Price Chat:
The Global Indium Market evaluated at US$384.2 Million in the year 2020 and is expected to reach $559.8 Million by 2027 based on data from ReportLinker. Display technologies and CIGS solar cells have evolved over the years, aided by technological developments, and now offer higher resolution and lower power consumption then previously. The Display Panel Market was valued at USD 139.06 billion in 2020 and is expected to reach USD 178.20 billion by 2026 growing at a CAGR of 4.2% over the forecast period 2021 - 2026 according to Mordor Intelligence.
- U.S. Geological Survey, Mineral Commodity Summaries, January 2021
- Avalon Advanced Materials Inc.
- Transparency Market Research. Indium Oxide Market.
- Mordor Intelligence. Thin film solar PV market (2021 - 2026)
- Mordor Intelligence. Display panel market (2021 - 2026)
- Prescient & Strategic Intelligence. Indium Market Research Report
- Tradium Invest
- SMT007 Magazine
- Report Linker. Global Indium Industry