Global indium tin oxide market (ITO) is expected to rise over the forecast period on account of growing demand from end use industries such as electronic sector along with construction industry. Indium tin oxide consist of tin oxide and indium oxide present in solid form and on the weight basis indium oxide contains 10% tin oxide and 90% indium oxide. It is a transparent conducting oxide member. Various indium tin oxide(ITO) application includes heat reflective coatings, touch panels, gas sensors, LCD displays, electrochromic, field emission displays, electroluminescent display photovoltaic, plasma displays and energy efficient window. Owing to outstanding physical properties, indium tin oxide is the most popular transparent conduction oxide used widely across the globe. Surging tablets, PC and mobile phone demand is expected to propel indium tin oxide (ITO) market across the globe over the forecast period. Rising flexible and transparent electronics are expected to further contribute towards global indium tin oxide market growth over the forecast period. Thin indium tin oxide layer is transparent and colorless, whereas when it is collected in bulk it appears in yellowish grey color. High production cost is expected to emerge as major market restraint in the global market. Therefore, opting for technological improvement is expected to be the major indium tin oxide market opportunity in order to minimize production cost over the forecast period. More research and development activities in order to find ITO alternatives are expected to further obstruct global indium tin oxide market over the forecast period.
Global indium tin oxide market is segmented on the basis of technology and application. Technology segment is categorized as low temperature vacuum deposition, sputtering technique and electron beam evaporation. Among all the technologies, sputtering technique was the common and mostly preferred technology for ITO production. Application segment consists of photovoltaic cells, transparent electrodes, electro chromic and LCD displays, emi/rfi shielding, field emission displays, plasma display, resistive and capacitive touch panels and others. Others sub segment includes heat reflective coatings, energy efficient windows, and gas sensors. Most of the ITO applications are from electronic sector.
Asia Pacific was holding the major indium tin oxide (ITO) share in the global market. Huge indium tin oxide demand from Asia Pacific countries such as Korea, China and Japan are expected to be the major factor contributing towards regional indium tin oxide market growth over the forecast period. Increasing disposable income expanding electronic sector and rising living standards are some other factor on account of which healthy indium tin oxide market growth is expected in Asia Pacific over the forecast period. India is also expected to contribute positively towards global indium tin oxide market growth owing to huge demand from electronics industry. Moderate growth rate is expected in North America followed by Europe on account of high manufacturing cost associated with it. Countries such as Belgium, Canada and Peru are expected to be the major ITO producers over the forecast year.
Global indium tin oxide (ITO) market players includes Touch International, Samsung Corning Precision Material, Indium Corporation, Efun Technologies, American Elements, Sollensys, Nitto Denko Corp, Emicore Thin Film Products, Densitron Technologies and 3M across the globe. Major players involved in this market are Kurt J Lesker Co. and Keeling Walker. Global indium tin oxide (ITO) market is highly fragmented in nature. Companies are expected to focus on business expansion in developing countries where huge ITO demand can be predicted. It is expected to help the companies to increase market share coupled with global network expanision. Companies are also expected to continue their research and development activities for new technologies owing to which company can cut down its production cost along with product line improvement, enhance plant efficiency and increase production capacity to increase their revenues.
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