The Global High Purity Indium Tin Oxide (ITO) Target (Purity Above 4N) Market was valued at USD 659.37 million in 2023 and is projected to reach USD 1253.43 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 11.30% during the forecast period. This robust growth is fueled by soaring demand from the display panel, touchscreen, and photovoltaic industries, alongside accelerating innovation in next-generation applications like smart windows and flexible electronics.

As the global push for smarter, more efficient, and transparent conductive materials intensifies, the key manufacturers of High Purity ITO Targets are at the forefront of technological advancement. These components are critical for sputtering processes used to create transparent conductive films. In this blog, we profile the Top 10 Companies in the High Purity ITO Target Industry— a mix of global material science giants and specialized manufacturers shaping the digital and sustainable future.

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🔟 1. Mitsui Kinzoku

Headquarters: Tokyo, Japan
Key Offering: High Purity ITO Targets (5N, 6N, 7N)

Mitsui Kinzoku (Mitsui Mining & Smelting Co., Ltd.) is a global leader in advanced materials, including high-purity ITO targets. The company leverages its expertise in non-ferrous metals to produce sputtering targets known for their exceptional density, uniformity, and performance, serving top-tier display and electronics manufacturers worldwide.

Innovation and Market Focus:

• Development of high-density, large-size ITO targets for Gen 10.5+ LCD panels

• R&D focused on improving recycling rates of indium to ensure sustainable supply

• Strong presence in the Asian display market with a global distribution network

Download FREE Sample Report: Global High Purity Indium Tin Oxide (ITO) Target (Purity Above 4N) Market – View in Detailed Research Report

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9️⃣ 2. JX Nippon Mining & Metals

Headquarters: Tokyo, Japan
Key Offering: ITO Sputtering Targets, High Purity Metals

JX Nippon Mining & Metals is a key supplier in the global electronic materials sector. The company produces high-quality ITO targets with purities exceeding 4N, catering to the stringent requirements of the flat panel display and touch sensor industries through advanced manufacturing and quality control processes.

Innovation and Market Focus:

• Investment in advanced powder metallurgy for superior target performance

• Strategic partnerships with major panel makers in South Korea, China, and Taiwan

• Commitment to reducing defects and enhancing production yields for customers

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8️⃣ 3. Tosoh Corporation

Headquarters: Tokyo, Japan
Key Offering: High Purity ITO Targets, Zirconia, and Quartz Products

Tosoh Corporation is a diversified chemical company with a strong foothold in advanced materials. Its specialty materials division produces high-purity ITO sputtering targets that are essential for creating transparent electrodes in a wide array of electronic devices.

Innovation and Market Focus:

• Focus on high-performance targets for advanced OLED displays and flexible electronics

• Integrated supply chain from raw materials to finished targets

• Emphasis on R&D for next-generation transparent conductive oxides (TCOs)

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7️⃣ 4. Vital Materials

Headquarters: Guangdong, China
Key Offering: ITO Targets, Indium Metal, Sputtering Target Services

Vital Materials is a leading global supplier of indium, germanium, and gallium products. Through its subsidiary, Vital Thin Film Materials, it has become a major producer of high-purity ITO targets, capitalizing on its vertical integration in the indium supply chain.

Innovation and Market Focus:

• Vertical integration from indium refining to target manufacturing

• Expansion of production capacity to meet growing global demand

• Strategic focus on cost-competitive manufacturing for mass-market applications

Download FREE Sample Report: Global High Purity Indium Tin Oxide (ITO) Target (Purity Above 4N) Market – View in Detailed Research Report

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6️⃣ 5. Kurt J. Lesker Company

Headquarters: Pennsylvania, USA
Key Offering: ITO Targets, Sputtering Targets, Thin Film Deposition Equipment

The Kurt J. Lesker Company is a globally recognized supplier of thin film deposition systems and materials. It offers high-purity ITO targets alongside a comprehensive portfolio of other sputtering materials, serving research institutions and industrial customers in North America and Europe.

Innovation and Market Focus:

• Strong focus on the R&D and prototyping market segment

• Custom fabrication services for specialized target geometries and compositions

• Integration of target supply with vacuum deposition equipment and expertise

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5️⃣ 6. American Elements

Headquarters: California, USA
Key Offering: ITO Targets (4N-7N), Advanced Materials, Nanomaterials

American Elements is a manufacturer and global supplier of engineered and advanced materials. The company produces a wide range of high-purity ITO targets for various applications, from academic research to industrial-scale production, with a strong online distribution platform.

Innovation and Market Focus:

• Extensive catalog of materials supporting diverse research and development needs

• Production of custom compositions and doped ITO targets

• Global logistics network ensuring rapid delivery to customers worldwide

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4️⃣ 7. Stanford Advanced Materials (SAM)

Headquarters: California, USA
Key Offering: High Purity ITO Sputtering Targets, Evaporation Materials

Stanford Advanced Materials supplies high-purity sputtering targets, evaporation materials, and chemicals to the research and industrial sectors. SAM is known for its reliable quality and wide selection of ITO target specifications.

Innovation and Market Focus:

• Catering to both academic research laboratories and small-to-medium scale industrial users

• Focus on high-quality standards and precise chemical composition control

• Strong customer support and technical service for material selection

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3️⃣ 8. Guangxi Crystal Union Photoelectric Materials

Headquarters: Guangxi, China
Key Offering: ITO Targets, ITO Powder, Transparent Conductive Glass

Guangxi Crystal Union Photoelectric Materials is a significant Chinese manufacturer specializing in ITO-related products. The company benefits from proximity to indium resources and has developed substantial production capacity for the domestic and international markets.

Innovation and Market Focus:

• Integrated production from ITO powder to finished target manufacturing

• Focus on serving the rapidly growing Chinese display and touch panel industry

• Competitive pricing strategy for volume-driven market segments

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2️⃣ 9. Umicore

Headquarters: Brussels, Belgium
Key Offering: ITO and other TCO Sputtering Targets, Precious Metals

Umicore is a global materials technology and recycling group. Its business unit produces high-performance sputtering targets, including ITO, for applications in displays, photovoltaics, and architectural glass. Umicore is known for its strong sustainability focus and recycling capabilities.

Innovation and Market Focus:

• Leading expertise in materials recycling, including indium recovery from production scrap

• Development of advanced TCO materials beyond standard ITO

• Strong technological support and co-development partnerships with customers

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1️⃣ 10. Fujian Acetron New Materials Co., Ltd.

Headquarters: Fujian, China
Key Offering: ITO Targets, Sputtering Targets for Displays and PV

Fujian Acetron New Materials is an emerging Chinese player focusing on the research, development, and production of various sputtering target materials, including ITO. The company is expanding its market share by catering to the booming electronics manufacturing sector in Asia.

Innovation and Market Focus:

• Rapid scaling of production capacity to capture market opportunities

• Investment in R&D to improve target density and sputtering performance

• Cost-effective manufacturing tailored for price-sensitive applications

Get Full Report Here: Global High Purity Indium Tin Oxide (ITO) Target (Purity Above 4N) Market – View in Detailed Research Report

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🌍 Outlook: The Future of High Purity ITO Targets is Brighter and More Diverse

The High Purity ITO Target market is experiencing a transformative phase. While traditional display applications continue to drive volume, the industry is investing heavily in new formulations, larger target sizes, and sustainable manufacturing practices to meet the demands of emerging technologies.

📈 Key Trends Shaping the Market:

• Expansion into new applications like perovskite solar cells and electrochromic smart windows

• Increasing demand for higher purity (6N and 7N) targets for advanced microelectronics

• Geographic shift in manufacturing, with China becoming a dominant production and consumption hub

• Growing emphasis on indium recycling and supply chain sustainability to mitigate raw material price volatility

The companies profiled above are not just supplying a critical material; they are enabling the technologies that define modern life—from the smartphone in your hand to the solar panel on your roof.

Get Full Report Here: Global High Purity Indium Tin Oxide (ITO) Target (Purity Above 4N) Market – View in Detailed Research Report