The Global Indium Oxide Powder Market was valued at USD 162 Million in 2025 and is projected to reach USD 244 Million by 2034, growing at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period (2025–2034). This growth is driven by the relentless demand for high-performance electronics, the expansion of the Indium Tin Oxide (ITO) segment for displays and touch panels, and the emergence of new applications in wearable devices and energy-saving glass.

As the electronics industry advances toward smarter, more transparent, and flexible components, the focus intensifies on the material suppliers that provide the essential high-purity powders. In this blog, we profile the Top 10 Companies in the Indium Oxide Powder Industry—a blend of global material science leaders, specialized chemical producers, and regional powerhouses that are foundational to the global supply chain.

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🔟 1. Indium Corporation

Headquarters: Clinton, New York, USA
Key Offering: High-Purity Indium Oxide Powders (4N, 5N), ITO Sputtering Targets

Indium Corporation is a globally recognized leader in indium and tin specialty products. With over 85 years of expertise, it is a primary supplier of ultra-high-purity indium oxide powders critical for manufacturing ITO sputtering targets used in flat-panel displays, touchscreens, and photovoltaics. The company operates extensive refining and manufacturing facilities worldwide.

Product Innovation & Specialization:

• Leading producer of 5N (99.999%) purity indium oxide for advanced optoelectronics

• Comprehensive technical support and R&D for customized powder morphologies

• Strong focus on supply chain reliability and traceability

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Indium Oxide Powder Market – View in Detailed Research Report

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9️⃣ 2. Vital Materials Co., Ltd.

Headquarters: Shenzhen, Guangdong, China
Key Offering: Indium Metal, Indium Oxide Powder, ITO Targets

Vital Materials is one of the world’s largest integrated producers of indium and related materials. Leveraging its strong upstream position in indium metal production, the company is a dominant force in supplying high-purity indium oxide powder, particularly within the Asia-Pacific region. Its vertical integration provides a significant advantage in cost stability and volume supply for the display industry.

Product Innovation & Specialization:

• Vertically integrated from indium mining and refining to powder production

• Major supplier to leading LCD and OLED panel manufacturers

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8️⃣ 3. Mitsui Mining & Smelting Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: High-Purity Indium Oxide, ITO Powders and Targets

Mitsui Mining & Smelting is a major Japanese multinational with a strong presence in advanced materials. The company’s electronics materials division produces high-grade indium oxide powders renowned for their consistency and quality, catering to the stringent requirements of the Japanese and Korean electronics industries.

Product Innovation & Specialization:

• Development of fine and nano-sized powders for high-density ITO targets

• Focus on advanced manufacturing processes for superior sintering performance

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7️⃣ 4. Dowa Holdings Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Electronic Grade Indium Oxide, ITO Sputtering Targets

Dowa Holdings is a key Japanese supplier of non-ferrous metals and advanced materials. Its electronics materials business is a critical source of high-purity indium oxide for the global market, with a strong reputation for technical excellence and product reliability in semiconductor and display applications.

Product Innovation & Specialization:

• Expertise in controlling particle size distribution for optimal sputtering performance

• Active in developing materials for next-generation transparent electronics

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

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6️⃣ 5. Korea Zinc Co., Ltd.

Headquarters: Seoul, South Korea
Key Offering: Indium Metal, Indium Oxide Powders

As one of the world’s largest zinc smelters, Korea Zinc is a significant producer of indium, a by-product of its zinc refining operations. The company supplies high-purity indium metal and oxide powders, playing a crucial role in feeding the robust South Korean display and electronics manufacturing sector.

Product Innovation & Specialization:

• Major upstream supplier with consistent indium output

• Strategic partnerships with domestic ITO target and panel makers

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5️⃣ 6. Nippon Rare Metal, Inc.

Headquarters: Tokyo, Japan
Key Offering: Ultra-High Purity Indium Oxide (6N), Specialty Chemical Forms

Nippon Rare Metal specializes in producing ultra-high-purity metals and compounds for the most demanding semiconductor and research applications. The company is a noted supplier of indium oxide powders with purities up to 6N (99.9999%), serving niche markets where exceptional quality is paramount.

Product Innovation & Specialization:

• Focus on 6N purity grades for advanced R&D and semiconductor processes

• Custom synthesis capabilities for specific research and development needs

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4️⃣ 7. Zhuzhou Keneng New Material Co., Ltd.

Headquarters: Zhuzhou, Hunan, China
Key Offering: Indium Oxide Powder, ITO Powder, Sputtering Targets

Zhuzhou Keneng is a prominent Chinese manufacturer focused on advanced electronic materials. The company produces a range of indium oxide powders and is a key domestic supplier for the Chinese display industry, benefiting from proximity to major manufacturing hubs.

Product Innovation & Specialization:

• Strong presence in the cost-competitive Chinese market

• Continuous improvement in powder production to meet evolving industry standards

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3️⃣ 8. Guangxi Crystal Union Photoelectric Materials Co., Ltd.

Headquarters: Guigang, Guangxi, China
Key Offering: Indium Oxide, ITO Powder and Targets

Located in a region rich in indium resources, Guangxi Crystal Union is a significant player in China’s indium oxide supply chain. The company specializes in producing photoelectric materials and serves both domestic and international customers in the display and glass coating industries.

Product Innovation & Specialization:

• Leverages geographic advantage near indium production sources

• Focus on scaling production to meet growing domestic demand

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2️⃣ 9. American Elements

Headquarters: Los Angeles, California, USA
Key Offering: Indium Oxide (Various Purities, Nanoscale Powders)

American Elements is a global manufacturer and distributor of engineered and advanced materials. The company supplies a wide array of indium oxide powder grades, including nanoscale materials, to a diverse customer base in research, development, and specialty manufacturing across North America and Europe.

Product Innovation & Specialization:

• Extensive catalog of purity grades and particle sizes for R&D

• Supplier to academic institutions, national labs, and tech startups

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1️⃣ 10. Lorad Chemical Corporation

Headquarters: Waltham, Massachusetts, USA
Key Offering: High-Purity Indium Oxide, Custom Ceramic Powders

Lorad Chemical Corporation is a specialized manufacturer of high-purity metal oxides and ceramic powders. The company produces electronic-grade indium oxide with a focus on consistent quality and suitability for demanding applications in thin-film deposition and specialty ceramics.

Product Innovation & Specialization:

• Emphasis on batch-to-batch consistency for industrial customers

• Capabilities for producing custom formulations and specifications

Read Full Report:
Indium Oxide Powder Market – View in Detailed Research Report

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🌍 Outlook: The Future of Indium Oxide Powder Is High-Purity and Application-Led

The indium oxide powder market is evolving dynamically. While traditional display applications continue to drive volume, the industry is increasingly focused on developing specialized high-purity and nanoscale powders for next-generation electronics, enhancing production efficiency, and mitigating supply chain risks.

📈 Key Trends Shaping the Market:

• Accelerating demand for 4N and 5N purity powders from the flexible and wearable electronics sector

• Intensifying R&D into indium recycling technologies to create a more circular economy

• Growing application frontiers in smart glass, thin-film photovoltaics, and gas sensors

• Strategic efforts by manufacturers to reduce indium consumption per unit and improve material utilization rates

Read Full Report:
Indium Oxide Powder Market – View in Detailed Research Report

The companies listed above are not only supplying a critical material—they are enabling the technological evolution of modern electronics.