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 (2024–2029). This significant growth is fueled by the escalating demand for transparent conductive films in smartphones, tablets, flat-panel displays, and the expanding thin-film photovoltaic industry.

As the electronics and renewable energy sectors advance toward smarter, more efficient devices, the spotlight is on the key material suppliers who are driving innovation in high-performance sputtering targets. In this blog, we profile the Top 10 Companies in the High Purity ITO Target Industry—a mix of global chemical giants, specialized material suppliers, and technology pioneers shaping the future of transparent conductive oxides.

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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🔟 1. Mitsui Kinzoku

Headquarters: Tokyo, Japan
Key Offering: High-purity ITO Targets (5N, 6N, 7N), Sputtering Targets for FPDs

Mitsui Kinzoku (Mitsui Mining & Smelting Co., Ltd.) is a leading global supplier of high-purity metals and advanced materials. Their ITO target division is renowned for its consistent quality and high-performance products, which are critical for manufacturing large-area flat panel displays and touch sensors used by major electronics brands.

Innovation Initiatives:

• Development of high-density, fine-grained ITO targets for superior film uniformity

• Investment in recycling technologies to secure a stable indium supply chain

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

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 Indium, Specialty Metals

JX Nippon Mining & Metals is a powerhouse in the non-ferrous metal industry, with a strong foothold in the high-purity ITO target market. The company’s vertically integrated operations, from mining to advanced material processing, ensure a reliable supply of high-quality targets for the global electronics supply chain.

Innovation Initiatives:

• Pioneering large-size ITO targets for Gen 10.5 and larger LCD panels

• Advanced bonding technology for improved target utilization and longevity

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8️⃣ 3. Tosoh Corporation

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

Tosoh Corporation is a leading chemical and specialty material company with a significant presence in the high-purity ITO target segment. Their expertise in fine ceramics and advanced materials translates into ITO targets that offer exceptional electrical and optical properties for demanding applications.

Innovation Initiatives:

• Focus on 6N and 7N purity grades for high-end display applications

• Development of low-resistivity ITO films for flexible electronics

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7️⃣ 4. Vital Materials

Headquarters: Guangzhou, China
Key Offering: ITO Targets, Sputtering Targets, High-Purity Metals

Vital Materials is a key Chinese player in the high-purity materials market, supplying ITO targets to both domestic and international display and touch panel manufacturers. The company benefits from China’s growing dominance in the flat panel display industry.

Innovation Initiatives:

• Expansion of production capacity to meet rising domestic demand

• Investment in R&D for cost-effective manufacturing processes

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6️⃣ 5. Kurt J. Lesker Company (KJLC)

Headquarters: Pittsburgh, Pennsylvania, USA
Key Offering: ITO Targets, Sputtering Systems, Thin-Film Deposition Materials

The Kurt J. Lesker Company is a global leader in vacuum technology and thin-film deposition materials. As a major distributor and manufacturer of high-purity ITO targets, KJLC serves a diverse customer base in research, development, and industrial production.

Innovation Initiatives:

• Custom target fabrication for specialized R&D applications

• Integration of sputtering targets with deposition system solutions

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5️⃣ 6. American Elements

Headquarters: Los Angeles, California, USA
Key Offering: Nanoscale ITO Powders, High-Purity ITO Targets, Advanced Materials

American Elements is a global manufacturer and distributor of engineered and advanced materials. The company offers a wide range of ITO products, including sputtering targets in various purities and formulations tailored for specific optical and electrical performance requirements.

Innovation Initiatives:

• Development of nano-structured ITO for enhanced conductivity

• Supply chain diversification for critical raw materials

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4️⃣ 7. Stanford Advanced Materials (SAM)

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

Stanford Advanced Materials specializes in supplying high-purity metals, alloys, and ceramics for research and industrial applications. SAM is a reliable source for high-quality ITO targets, serving the semiconductor, display, and optical coating industries worldwide.

Innovation Initiatives:

• Focus on high-density targets to minimize nodule formation during sputtering

• Expansion of product portfolio to include alternative TCO materials

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3️⃣ 8. Guangxi Crystal Union Photoelectric Materials

Headquarters: Guigang, Guangxi, China
Key Offering: ITO Targets, ITO Powders, Transparent Conductive Materials

As a specialized manufacturer based in China, Guangxi Crystal Union Photoelectric Materials is strategically positioned to serve the world’s largest display manufacturing hub. The company focuses on the production of ITO targets and related precursor materials.

Innovation Initiatives:

• Leveraging proximity to indium production sources for cost advantage

• Scaling production to support China’s display industry growth

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2️⃣ 9. Fujian Acetron New Materials Co., Ltd.

Headquarters: Sanming, Fujian, China
Key Offering: ITO Targets, Sputtering Targets, Advanced Ceramics

Fujian Acetron is a rising Chinese manufacturer of advanced materials, including high-purity ITO targets. The company is expanding its market presence by catering to the growing domestic demand for display and touch panel components.

Innovation Initiatives:

• Investment in advanced sintering and processing equipment

• Development of custom ITO formulations for specific customer applications

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1️⃣ 10. Umicore

Headquarters: Brussels, Belgium
Key Offering: High-Purity ITO Targets, Thin-Film Solutions, Precious Metals

Umicore is a global materials technology and recycling group. Its thin-film products division supplies high-performance ITO targets to the display, photovoltaics, and architectural glass industries, with a strong emphasis on sustainability and closed-loop material cycles.

Innovation Initiatives:

• Leadership in indium recycling from end-of-life displays

• Development of sustainable sourcing practices for critical raw materials

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 Smarter and More Efficient

The high purity ITO target market is undergoing a significant transformation. While traditional display applications continue to drive volume, the industry is investing heavily in advanced material formulations, larger target sizes, and sustainable manufacturing processes to meet the evolving needs of next-generation electronics.

📈 Key Trends Shaping the Market:

• Rising demand for larger ITO targets to accommodate Gen 10.5+ LCD and OLED panel production

• Growing adoption of ITO in thin-film photovoltaics and smart windows

• Increasing focus on recycling and sustainable indium sourcing to mitigate supply chain risks

• R&D into ITO alternatives and composite materials for flexible and wearable electronics

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

The companies listed above are not only supplying critical materials for modern electronics—they’re pioneering the advanced material solutions that will power the displays and solar panels of tomorrow.