The Global Indium Market was valued at USD 439 Million in 2024 and is projected to reach USD 666 Million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period (2024–2032). This growth is primarily driven by the expanding demand for Indium Tin Oxide (ITO) in flat panel displays, touchscreens, and photovoltaic applications, coupled with increasing adoption in semiconductors and advanced alloys.

As the electronics industry advances toward higher-resolution displays and more efficient energy solutions, the spotlight is on the key indium producers and processors who are ensuring a stable supply of this critical metal. In this blog, we profile the Top 10 Companies in the Indium Market—a mix of mining giants, specialized refiners, and recycling pioneers shaping the future of global high-tech manufacturing.

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🔟 1. Korea Zinc

Headquarters: Seoul, South Korea
Key Offering: High-Purity Primary Indium, Indium Tin Oxide (ITO) Precursors

Korea Zinc is the world’s largest non-Chinese producer of indium, leveraging its massive zinc smelting operations to recover indium as a valuable byproduct. The company supplies high-purity indium to major display manufacturers across Asia and is a critical supplier for the global ITO market. Their integrated production process from zinc concentrate to refined indium ensures consistent quality and supply chain security.

Sustainability Initiatives:

• Investment in advanced indium recovery technologies from zinc processing residues

• Development of closed-loop recycling systems for end-of-life electronics

• Commitment to reducing environmental impact through energy-efficient smelting processes

Download FREE Sample Report: Indium Market – View in Detailed Research Report

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9️⃣ 2. Dowa Holdings

Headquarters: Tokyo, Japan
Key Offering: Ultra-High Purity Indium (6N), Recycled Indium, ITO Targets

Dowa Holdings is a leader in the Japanese indium market, with a strong focus on high-purity materials for semiconductor and display applications. The company operates one of the most advanced indium recycling facilities globally, processing scrap from ITO sputtering targets and LCD panel manufacturing. Dowa’s vertical integration from mining to refined products provides significant supply chain stability.

Sustainability Initiatives:

• Pioneering urban mining initiatives for indium recovery from e-waste

• Development of energy-efficient indium refining technologies

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8️⃣ 3. Umicore

Headquarters: Brussels, Belgium
Key Offering: Specialty Indium Products, Recycling Services, ITO Materials

Umicore is a global materials technology group with significant expertise in indium recycling and refining. The company specializes in recovering indium from various waste streams, including spent catalysts and electronic scrap. Umicore’s commitment to circular economy principles makes it a key player in sustainable indium supply for European and North American markets.

Sustainability Initiatives:

• World-leading indium recycling rates from electronic waste

• Development of proprietary hydrometallurgical processes for indium recovery

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7️⃣ 4. Teck Resources

Headquarters: Vancouver, Canada
Key Offering: Primary Indium, Zinc-Indium Concentrates

Teck Resources is a diversified mining company and one of North America’s primary indium producers. Through its Trail Operations in British Columbia, Teck recovers indium from zinc processing, supplying the North American market with high-quality primary indium. The company has invested significantly in improving indium recovery rates through advanced metallurgical processes.

Sustainability Initiatives:

• Implementation of proprietary indium recovery technology increasing yields by 15-20%

• Commitment to responsible mining practices and environmental stewardship

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6️⃣ 5. Asahi Holdings

Headquarters: Tokyo, Japan
Key Offering: Recycled Indium, Precious Metal Refining Services

Asahi Holdings specializes in the recycling of precious and rare metals, with indium being a significant focus area. The company operates advanced recycling facilities that process electronic waste, recovering indium from LCD panels and other high-tech components. Asahi’s expertise in urban mining contributes significantly to Japan’s circular economy for critical metals.

Sustainability Initiatives:

• Advanced indium recovery from end-of-life flat panel displays

• Partnerships with electronics manufacturers for closed-loop recycling programs

Download FREE Sample Report: Indium Market – View in Detailed Research Report

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5️⃣ 6. PPM Pure Metals GmbH

Headquarters: Langelsheim, Germany
Key Offering: Ultra-Pure Indium (7N), Specialty Alloys, Semiconductor Grade Materials

PPM Pure Metals is a German specialist in high-purity metals, including indium products for the most demanding applications. The company produces indium with purity levels up to 99.99999% (7N) for semiconductor, photonics, and quantum computing applications. PPM’s focus on ultra-high purity positions it as a key supplier for advanced technology sectors.

Sustainability Initiatives:

• Development of energy-efficient purification processes for high-purity indium

• Recycling programs for indium-containing manufacturing waste

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4️⃣ 7. Zhuzhou Smelter Group

Headquarters: Zhuzhou, China
Key Offering: Primary Indium, ITO Materials, Indium Alloys

Zhuzhou Smelter Group is one of China’s leading non-ferrous metal producers and a major indium supplier. The company benefits from China’s extensive zinc mining operations, which provide a steady stream of indium-bearing concentrates. Zhuzhou’s integrated production capabilities make it a crucial player in supplying the domestic Chinese electronics market.

Sustainability Initiatives:

• Investment in cleaner production technologies for indium refining

• Development of recycling capabilities for indium-containing materials

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3️⃣ 8. Nyrstar

Headquarters: Budel-Dorplein, Netherlands
Key Offering: Primary Indium, Zinc Co-products

Nyrstar is a global multi-metals business with significant indium production capabilities across its zinc smelting operations. The company produces indium as a byproduct from its facilities in Europe and Australia, supplying both regional and international markets. Nyrstar’s diverse asset base provides geographic diversification in indium supply.

Sustainability Initiatives:

• Implementation of improved indium recovery processes at smelting operations

• Focus on reducing the environmental footprint of metal production

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2️⃣ 9. YoungPoong

Headquarters: Seoul, South Korea
Key Offering: Refined Indium, Zinc Concentrates

YoungPoong is a major South Korean non-ferrous metal company with substantial indium production capacity. The company’s zinc smelting operations generate significant indium co-product, which is refined to high purity levels for electronics applications. YoungPoong’s strategic location in South Korea positions it well to serve the country’s massive display manufacturing industry.

Sustainability Initiatives:

• Development of advanced indium separation and purification technologies

• Investment in recycling infrastructure for metal recovery

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1️⃣ 10. Indium Corporation

Headquarters: Clinton, New York, USA
Key Offering: Specialty Indium Alloys, Solders, Thermal Interface Materials

Indium Corporation is a leading manufacturer of indium-based specialty products, including solders, alloys, and thermal interface materials. While not a primary producer, the company is a major processor and fabricator of indium products for electronics assembly, semiconductor packaging, and thermal management applications. Their technical expertise in indium applications drives innovation across multiple industries.

Sustainability Initiatives:

• Development of lead-free indium-containing solders for electronics

• Recycling programs for indium-containing manufacturing scrap

Get Full Report Here: Indium Market – View in Detailed Research Report

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🌍 Outlook: The Future of Indium Is Sustainable and High-Tech

The indium market is undergoing a significant transformation. While primary production from zinc processing continues to dominate supply, the industry is increasingly focusing on recycling technologies, supply chain resilience, and developing alternative materials to address indium’s criticality and price volatility.

📈 Key Trends Shaping the Market:

• Rapid expansion of indium recycling from end-of-life electronics and manufacturing waste

• Development of ITO-alternative materials for specific display applications

• Growing demand for high-purity indium in semiconductor and quantum computing applications

• Strategic partnerships between indium producers and electronics manufacturers for supply chain security

Get Full Report Here: Indium Market – View in Detailed Research Report

The companies listed above are not only supplying critical materials for global electronics—they’re driving the sustainable transformation of the high-tech materials industry.