PUBLISHER: QYResearch | PRODUCT CODE: 1862338
PUBLISHER: QYResearch | PRODUCT CODE: 1862338
The global market for Indium Gallium Zinc Oxide (IGZO) was estimated to be worth US$ 161 million in 2024 and is forecast to a readjusted size of US$ 313 million by 2031 with a CAGR of 10.1% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Indium Gallium Zinc Oxide (IGZO) cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
Indium Gallium Zinc Oxide (IGZO) is an amorphous metal oxide semiconductor material composed of the oxides of three metallic elements: indium (In), gallium (Ga), and zinc (Zn). Its chemical formula is typically represented as In2O3*Ga2O3*ZnO, and it exhibits high electron mobility (approximately 10-30 cm2/V*s, which is 20-30 times that of amorphous silicon), high transparency (visible light transmittance >85%), and low power consumption. IGZO is primarily used as the channel layer material in thin-film transistors (TFTs), particularly in the display panel sector, where it significantly enhances screen resolution, refresh rate, and energy efficiency while supporting flexible display technologies (such as rollable or foldable screens).
Global sales of indium gallium zinc oxide reached 145 tons in 2024, with an average price of USD 1,108 per Kg.
Driving factors
Display technology upgrades: The demand for high-resolution, low-power screens is surging in smartphones, in-vehicle displays, and AR/VR devices. For example, the Apple iPad Air and Apple Watch adopt IGZO technology, reducing power consumption by 57% compared to previous generations.
OLED and Micro LED Synergy: IGZO serves as the drive circuit material for OLED panels, improving light emission uniformity and reducing costs; simultaneously, IGZO-based mass transfer technology for Micro LED drives its adoption in high-end displays.
Policy Support: China has included indium in the "Strategic Minerals Directory," promoting the domestic production of IGZO target materials (e.g., Longhua Technology has become the sole domestic supplier).
Challenges
Indium resource scarcity: 90% of global indium relies on zinc ore by-products, and China's export quotas are being reduced (limited to 30% of annual production starting in 2024), which may increase raw material costs.
Technological competition: Low-temperature polysilicon (LTPS) and two-dimensional semiconductors (such as molybdenum disulfide) pose a substitution threat to IGZO in certain applications.
As a core material for display technology, IGZO will benefit significantly from the growing demand for high resolution, flexibility, and low power consumption. Despite challenges such as indium resource constraints and technological competition, its expanding applications in emerging fields like AR/VR, automotive displays, and Micro LED, coupled with the rise of China's supply chain, will drive continued market expansion.
This report aims to provide a comprehensive presentation of the global market for Indium Gallium Zinc Oxide (IGZO), focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Indium Gallium Zinc Oxide (IGZO) by region & country, by Type, and by Application.
The Indium Gallium Zinc Oxide (IGZO) market size, estimations, and forecasts are provided in terms of sales volume (K MT) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Indium Gallium Zinc Oxide (IGZO).
Market Segmentation
By Company
Segment by Type
Segment by Application
By Region
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Indium Gallium Zinc Oxide (IGZO) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Indium Gallium Zinc Oxide (IGZO) in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Indium Gallium Zinc Oxide (IGZO) in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.