CIGS PV will rapidly penetrate the market for conventional PV panels, BIPV and portable PV, driving growth in demand for indium, according to a recent market report by industry analyst firm NanoMarkets.
Existing alternative indium alloys such as ITO will continue to be widely used in a-Si, DSC and OPV PV.
The report provides eight-year projections (both volume and value) of the amount of indium consumed by application and type of material, and identifies opportunities for the indium industry as well as where indium-based materials are being supplanted.
ITO inks are losing market share to transparent conducting nanomaterial inks, but commercialization of CIGS inks may recover some market share for the rare metal.
NanoMarkets expects use of InP to increase as the PV industry pursues next-generation technologies. The alloy uses very large quantities of indium per unit of cell area, but is currently expensive and rarely used outside of the aerospace industry.
Read the report here.