Market overview
The global indium market is worth USD 462 mn in 2026 and is forecast to reach USD 753 mn by 2036, growing at a 5.0% CAGR. China is the largest country market and Refined indium metal is the largest by form segment.
| Scope | Indium metal and indium compounds, refined and sold worldwide, mainly for indium tin oxide coatings in displays and solar cells, solders, alloys and semiconductors. |
|---|---|
| Industry | Chemicals and Materials |
| Value 2025 | USD 440 mn |
| Value 2026 | USD 462 mn |
| Value 2036 | USD 753 mn |
| CAGR 2026-2036 | 5.0% |
| Volume 2026 | 1,086 tonnes |
| Volume 2036 | 1,525 tonnes |
| Average price 2026 | USD 425,300 per tonne |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Indium market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 462 mn |
| 2027 | USD 485 mn |
| 2028 | USD 509 mn |
| 2029 | USD 535 mn |
| 2030 | USD 562 mn |
| 2031 | USD 590 mn |
| 2032 | USD 619 mn |
| 2033 | USD 650 mn |
| 2034 | USD 683 mn |
| 2035 | USD 717 mn |
| 2036 | USD 753 mn |
Indium market segmentation
By form
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Refined indium metal | 58.0% | 56.1% | USD 268 mn | 4.7% |
| Indium tin oxide targets | 30.0% | 30.5% | USD 139 mn | 5.2% |
| Solders and alloys | 8.0% | 8.5% | USD 37 mn | 5.7% |
| Compounds and others | 4.0% | 4.9% | USD 18 mn | 7.2% |
By end use
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Flat panel displays | 52.0% | 43.6% | USD 240 mn | 3.2% |
| Solders and thermal materials | 16.0% | 16.2% | USD 74 mn | 5.2% |
| Solar cells and batteries | 14.0% | 19.7% | USD 65 mn | 8.7% |
| Semiconductors and LEDs | 12.0% | 15.4% | USD 55 mn | 7.7% |
| Other uses | 6.0% | 5.0% | USD 28 mn | 3.2% |
By source
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Primary zinc by-product | 52.0% | 46.0% | USD 240 mn | 3.7% |
| Recycled ITO scrap | 40.0% | 46.0% | USD 185 mn | 6.5% |
| Lead and copper by-product | 8.0% | 8.0% | USD 37 mn | 5.0% |
By purity
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| 4N (99.99%) | 40.0% | 34.0% | USD 185 mn | 3.3% |
| 5N (99.999%) | 36.0% | 36.0% | USD 166 mn | 5.0% |
| 6N and above | 24.0% | 30.0% | USD 111 mn | 7.4% |
By sales mode
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Long-term contract | 60.0% | 58.0% | USD 277 mn | 4.6% |
| Spot market | 26.0% | 26.0% | USD 120 mn | 5.0% |
| Fund and trader inventory | 14.0% | 16.0% | USD 65 mn | 6.4% |
Top 25 countries for indium by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 92.0% of 2026 revenue and the 25 countries below together hold 98.0%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | China | USD 148 mn | 32.0% | USD 255 mn | 5.6% |
| 2 | South Korea | USD 83 mn | 18.0% | USD 124 mn | 4.1% |
| 3 | Japan | USD 74 mn | 16.0% | USD 105 mn | 3.6% |
| 4 | Taiwan | USD 42 mn | 9.0% | USD 65 mn | 4.6% |
| 5 | United States | USD 32 mn | 7.0% | USD 56 mn | 5.6% |
| 6 | Germany | USD 14 mn | 3.0% | USD 22 mn | 4.6% |
| 7 | India | USD 9.2 mn | 2.0% | USD 22 mn | 9.0% |
| 8 | Vietnam | USD 9.2 mn | 2.0% | USD 22 mn | 9.0% |
| 9 | France | USD 6.9 mn | 1.5% | USD 11 mn | 4.3% |
| 10 | United Kingdom | USD 6.9 mn | 1.5% | USD 11 mn | 4.3% |
| 11 | Hong Kong | USD 5.7 mn | 1.2% | USD 8.3 mn | 3.9% |
| 12 | Malaysia | USD 3.5 mn | 0.8% | USD 6.4 mn | 6.2% |
| 13 | Singapore | USD 2.6 mn | 0.6% | USD 4.7 mn | 5.9% |
| 14 | Thailand | USD 2.2 mn | 0.5% | USD 3.8 mn | 5.9% |
| 15 | Philippines | USD 1.9 mn | 0.4% | USD 3.6 mn | 6.9% |
| 16 | Israel | USD 1.7 mn | 0.4% | USD 2.8 mn | 5.3% |
| 17 | Netherlands | USD 1.5 mn | 0.3% | USD 2.3 mn | 4.7% |
| 18 | Poland | USD 1.3 mn | 0.3% | USD 2.4 mn | 6.0% |
| 19 | Hungary | USD 1.2 mn | 0.3% | USD 2.0 mn | 5.0% |
| 20 | Mexico | USD 1.2 mn | 0.2% | USD 2.1 mn | 6.2% |
| 21 | Canada | USD 1.1 mn | 0.2% | USD 1.7 mn | 5.0% |
| 22 | Czech Republic | USD 1.0 mn | 0.2% | USD 1.7 mn | 5.0% |
| 23 | Ireland | USD 0.97 mn | 0.2% | USD 1.7 mn | 5.5% |
| 24 | Switzerland | USD 0.92 mn | 0.2% | USD 1.4 mn | 4.5% |
| 25 | Australia | USD 0.88 mn | 0.2% | USD 1.5 mn | 5.5% |
| Rest of world | USD 9.4 mn | 2.0% | USD 14 mn | 3.9% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Korea Zinc
- Nyrstar
- Umicore
- Dowa Holdings
- Sumitomo Metal Mining
- JX Metals
- Huludao Zinc Industry
- Yunnan Tin Group
Group 2: Regional and specialist players
- Indium Corporation
- Zhuzhou Smelter Group
- Teck Resources
- Mitsui Mining & Smelting
- Mitsubishi Materials
- Rasa Industries
Group 3: Emerging and niche players
- 5N Plus
- Vital Materials
- American Elements
- ESPI Metals
- Rotometals
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the indium market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 5.0% is calculated from the resulting values.
The market is divided by form, by end use, by source, by purity, by sales mode. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the indium market?
The global indium market is estimated at USD 440 mn in 2025 and USD 462 mn in 2026.
How fast will the indium market grow?
It is forecast to reach USD 753 mn by 2036, a compound annual growth rate of 5.0% from 2026, an increase of USD 291 mn.
Which country is the largest market for indium?
China is the largest market by revenue at USD 148 mn in 2026, 32.0% of the global total. The three largest countries together hold 66.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 9.0% a year from 2026 to 2036.
Which indium segment is largest?
In the by form split, Refined indium metal is the largest segment with 58.0% of 2026 revenue.
Who are the leading indium companies?
Global leaders include Korea Zinc, Nyrstar, Umicore, Dowa Holdings.
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