Global Indium Tin Oxide (ITO) Market to Grow at 2.3% During 2024-2032, Impelled by Significant Growth in Consumer Electronics Sector

March 15, 2021 | Chemical & Materials

According to the latest report by IMARC Group, titled "Indium Tin Oxide (ITO) Market Report by Technology (Sputtering, Vacuum Evaporation, Chemical Vapour Deposition, Spray Pyrolysis, and Others), Application (Electrochromic Displays and LCDs, Touch Panels, Photovoltaics, Transparent Electrodes, and Others), and Region 2024-2032," the global indium tin oxide (ITO) market reached a value of US$ 1.74 Billion in 2023. Indium tin oxide (ITO) refers to a transparent and colorless solid that consists of tin oxide and indium oxide. It is deposited as a thin film on glass or clear plastic and functions as a transparent electrical conductor in a diverse range of electronic devices. Commonly obtained by the process of electron beam evaporation or sputter deposition, it is characterized by ultraviolet resistance, colorfastness and electromagnetic induction shielding. As a result, it finds extensive applications in the manufacturing of touch panels, gas sensors, liquid-crystal displays (LCDs), photovoltaic cells, heat reflective coatings, field emission displays and plasma displays.

Global Indium Tin Oxide (ITO) Market Trends:

The global market is primarily driven by significant growth in the consumer electronics sector. There has been a considerable rise in the uptake of smart devices, such as tablets, smart TVs, laptops and smartphones, across the globe. Since ITO is extensively utilized as an essential component in the manufacturing of screens and touch panels in these devices, this is expected to providing an impetus to the market growth. This is further supported by the increasing proliferation of high-speed internet connection, inflating disposable income levels of the masses and their improving living standards. The market is also driven by the rising utilization of ITO by the automotive sector for the production of smart vehicles that are equipped with advanced driver assistance systems (ADAS). Moreover, the governments of several countries are undertaking favorable initiatives to promote the adoption of solar panels and thin-film photovoltaic (PV) cells. ITO forms an indispensable component in the production of these cells and panels as its usage offers a higher light absorption rate at cost-efficient prices. Furthermore, extensive research and development (R&D) activities conducted by key manufacturers to minimize the production costs of ITO are expected to create numerous growth opportunities in the market. On account of the aforementioned factors, the market is expected to grow at a CAGR of 2.3% during 2024-2032.

Market Summary:

  • On the basis of technology, the market has been divided into sputtering, vacuum evaporation, chemical vapour deposition, spray pyrolysis, and others.
  • Based on the application, the market has been classified into electrochromic displays and LCDs, touch panels, photovoltaics, transparent electrodes, and others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include 3M Company, American Elements, Densitron Technologies, EFUN Technology, Umicore, Indium Corporation, Keeling & Walker Ltd, Kurt J. Lesker Company, Mitsui Mining & Smelting Co., Ltd., Nitto Denko Corporation, Samsung Corning Precision Material, Sollensys, Tosoh Corporation, and Touch International Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Technology, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 3M Company, American Elements, Densitron Technologies, EFUN Technology, Umicore, Indium Corporation, Keeling & Walker Ltd, Kurt J. Lesker Company, Mitsui Mining & Smelting Co., Ltd., Nitto Denko Corporation, Samsung Corning Precision Material, Sollensys, Tosoh Corporation and Touch International Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA 
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Indium Tin Oxide (ITO) Market to Grow at 2.3% During 2024-2032, Impelled by Significant Growth in Consumer Electronics Sector
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More