Global and China ITO Targets Industry Chain Report, 2019-2025
Featured by good electrical conductivity and transparency, ITO targets are widely applied to fields of LCD, flat-panel display, plasma display, touch screen, electronic paper, OLED, solar cell, antistatic coating film, and transparent EMI shielding conductive film.
Global ITO technology is primarily monopolized by few enterprises including JX Nippon Mining & Metals, Mitsui Mining, Tosoh, Samsung and Heraeus. Of which, the former three totally occupy about 65% of global ITO market. In 2018, global ITO targets output hit 2.5 kt, and is estimated to annually grow by 5% by 2025.
There are over 20 ITO targets enterprises in China. After more than decade’s research, Chinese enterprises made a breakthrough in targets technology and gradually shortened gap with Japanese and Korean counterparts. Currently, with gradual expansion in medium and low-end market (like touch screen market), domestic ITO targets begin to enter high-end TEF industry for testing. However, it is still a challenge to realize domestication due to low product level, high cost control pressure and low profit margin.
Compared to supply end, demand of ITO targets from downstream market is strong, especially driven by the development of OLED and touch screen, the figure exceeded 1kt in 2018. While half of them were imported and mainly applied to the production of high-end products.
In recent ten years, with the development of LCD industry and emerging of touch input electronic products like PDA and e-book, especially the development of OLED and other display devices, ITO targets manufacturing technique and equipment are required to meet new and higher requirements. For instance, demand of ITO targets for high-end TFT-LCD display panels will further increase. In Jun. 2018, Vital Materials Co., Ltd. successfully rolled out self-developed G11 ITO rotating targets.
As of industry chain, indium serves as the main raw material of ITO targets, 80% of it is used to manufacture ITO targets, and reserves of indium resource in China share 50% of the global total. Based on the demand of ITO targets (as the main downstream industry of indium), it could be estimated that total annual demand of ITO targets in Mainland China and Taiwan is 600t, taking up 52% of annual ITO usage in the world, while annual demand of ITO targets in Korea and Japan is 570t, occupying 48% of world's total.
In recent years, indium supply and demand in China is basically balanced. In 2018, consumption of defined indium (including targets) in China reached about 150 tons. Zhuzhou Smelter Group Co., Ltd. is the largest indium manufacturer in China. In the future, demand of indium will grow at a rate of about 5% due to the emerging of 5G, smart manufacturing, digital economy industries and new technology revolutions.
Global and China ITO Targets Industry Chain Report 2019-2025 focuses on the following:
Global ITO targets market supply & demand and competition;
Technical status, market supply & demand, competitive landscape, key projects, substitute products and development trend of ITO targets industry in China;
Global and Chinese indium market supply & demand, import & export, and price;
Global and Chinese tin market supply & demand, import & export, and price;
ITO targets downstream industries (LCD, touch panel, solar cell, LED/OLED) status and demand;
8 global and 15 Chinese ITO targets enterprises, including operation status, ITO targets business and development strategy.
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