LOS ANGELES, BEIJING and PUNE, India, December 17, 2018 /PRNewswire/ --
China Produced 400 MT Indium in 2017 and is Expected to Lead Global Indium Market in Years to Come
QY Research has announced the release of a new publication that provides a thorough assessment of the global indium market in relation to competition, regional growth, segmentation, and other salient aspects. Buyers of the report, titled "Global Indium Market Research Report 2018," can significantly increase their intelligence about the market and take informed decisions with the help of the accurate market analysis provided by the authors.
By the end of 2024, the global indium market is projected to attain a valuation of US$ 545 Mn, improving from a US$ 417 Mn achieved in 2017. During the forecast period 2017-2024, the global indium market could grow at a 3.87% CAGR.
Global Indium Market: Forecast by Application and Type
The report has studied solder and alloys, semiconductor, ITO, and other applications of indium. Among these, ITO could be a prominent segment of the global indium market due to its common use in LCD manufacture.
By type, the global indium market is classified into primary and secondary indium. Securing a 41.33% of the production share in 2017, primary indium is consumed in the largest quantity in China because of the availability of rich indium resources.
On the other hand, Japan is the largest consumer of secondary indium due to high usage of ITO.
Global Indium Market: China as Major Contributor
Russia, Canada, Korea, and Peru are surveyed to be resource-rich countries important for the growth of the global indium market. However, China and Japan could be at the forefront contributing massively to the market growth. Along with Canada, China is a major producer of primary indium. However, indium is mainly recycled in Japan.
ITO producers are the chief providers of secondary feedstock. When it comes to the production of refined indium, China takes the leading position in the market. It contributes over one-half of the global primary production of refined indium. In 2017, it recorded close to 400 MT indium production volume. The indium market is largely prominent in Guangxi, Hunan, and Yunnan provinces of the country.
The report includes other regions and countries such as India, Europe, and North America.
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Global Indium Market: Key Players by Country
China's biggest indium business tycoons are Huludao Zinc Industry, Zhuzhou Smelter Group, Guangxi Debang, and China Germanium. However, the country has only witnessed the rise of a couple of producers of secondary indium in the recent years.
Indium is mostly used to produce ITO in Japan. The country has Tosoh Corporation, JX Nippon Mining & Metals, and Mitsui Mining & Smelting as major ITO manufacturers. Dowa Metals and Mining Co. Ltd. headquartered in Japan had the capacity to recover an approximately 150 MT of secondary indium and produce an estimated 70 MT of primary indium each year at its Akita zinc smelter and rare metals recycling facility.
In Belgium, Umicore has the largest indium refinery. Primary and secondary indium were significantly produced by Korea Zinc Co. Ltd. at its zinc refinery in Onsan.
Other players profiled in the report are PPM Pure Metals GmbH, YoungPoong, Nyrstar, Teck, Asahi Holdings and Others
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