- The key vendors in the global ITO market 2015-2019 are Densitron Technologies plc, Efun Technologies, Indium Corp., Nitto Denko Corp., Touch International, and Umicore Thin Film Products.
London, 9 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global ITO market 2015-2019. Recycling of indium tin oxide (ITO) to produce indium is a key trend observed in this market. Rising prices of indium and its growing demand are the primary reasons behind recycling of ITO. Innovations pertaining to recycling processes can further increase the indium yield. It is estimated that 70% of the indium can be recovered through the efficient use of the ITO target process. This market is expected to grow at a CAGR of 4.42% by volume and -2.28% by revenue during the forecast period of 2014-2019.
The drop in price of indium in recent years is a major factor that drives growth in this market. This drop in price is a direct result of recycling, which increases the supply of indium globally. Innovations pertaining to the recycling of ITO and indium have resulted in the increased production of indium. The excess production of indium in recent years has resulted in the subdued cost for indium and ITO during the forecast period. This drop in price drives consumption of ITO in the end-use segment.
“China is estimated to have about 62% of the total indium reserves. China imposes significant duties on exports of the product to ensure ample availability of the element for its domestic end-user industries. However, in recent years the increased production of indium and the piling up of inventories have led to revision of the export policy,” says Faisal Ghaus, Vice President of Technavio Research.
“In 2014, China relaxed regulations to allow the trading of indium on the global markets. This relaxation of the trade barriers will result in enhanced availability of indium and its derivatives such as ITO in the global markets.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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