Indium tin oxide (ITO) is a solution of indium oxide and tin oxide which is found in a solid state. Typically, indium tin oxide has 90% of indium oxide and 10% of tin oxide by weight. When in thin layer it is colorless and transparent, while it forms a yellowish grey color when in bulk. Indium tin oxide is a member of transparent conducting oxide and is a widely used transparent conduction oxide owing to its excellent physical properties. Indium tin oxide accounted for approximately 97% of the overall market for transparent conducting oxides in 2011.
The steady growth of transparent and flexible electronics is the major factor which is propelling the growth of the global indium oxides market. However, the growing R&D in developing alternatives for indium tin oxide is acting as one of the major restraints for the market.
Asia is the leading producer and consumer of indium tin oxide due to the huge electronics market in China, Japan, and Korea. However, countries like Canada, Peru and Belgium also represent strong markets for ITO and are in the list of leading producers of ITO. Companies like Keeling Walker and Kurt J Lesker Co. among some others are the major companies operating in the global market.
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