Silver Paste Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3659
Silver Paste Market size is expected to grow at a substantial rate in the upcoming years due to its rising usage in the solar industry. The product is mainly used in the photovoltaic (PV) cells during fabrication process. Silver paste is extensively used in solar cells, automotive and electronic components to form a contact. The product offers tremendous benefits such as excellent adhesion, solderability and electrical stability over other products. Increasing efforts by governments and private sector companies in order to increase the consumption of renewable energy will drive the solar power industry demand in the upcoming years. The overall solar PV installation capacity has grown from approximately 306 GW in 2016 to around 400 GW in 2017 around the world. This trend is expected to boost up the product demand over the forecast time period.
Another key silver paste market growth enabling factor is the rising automotive industry in Asia Pacific region. Silver paste is used in various automotive applications including alarm circuits, print-based vehicle defogging systems, antennas, backlights, etc. Rising vehicle production in major countries of Asia Pacific such as China, Japan, India, etc. is likely to increase the product demand in the upcoming years.
Though silver paste offers a range of advantages, but the high price of the product is likely to hamper the market demand in the upcoming years. The high cost may shift the consumer demand to cheaper alternatives such as aluminum paste. Aluminum paste also faces price fluctuations but is available at a reasonable cost compared to silver paste. The high product price will limit the product application only to certain specific areas.
Silver paste market has been segmented based on the base resin, product, end-user industry and region. Based on the base resin, the industry has been categorized into polymer and ceramic. Among these, product types based on polymer resin are expected to grow significantly over the upcoming years.
On the basis of product, silver paste are categorized into face side and back side. Back side paste is used in the solar cell manufacturing to reduce the material consumption to a significant level. Back side paste market will grow at a significant rate over the forecast time period owing to growing usage of solar cells.
On the basis of end-user industry, the market has been segmented into automotive, electronics, paints & coatings, solar energy, and others. Other end-user industries include research & development, aerospace and defense, etc. Solar industry segment will have a significant growth in the silver paste industry in the upcoming years. Rising product demand for manufacturing of photovoltaic cells will increase the silver paste market demand in the upcoming years. Automotive industry is also expected to witness a considerable growth in the silver paste industry. The automotive manufacturers use the product for a variety of applications including tapered & laminated automotive window glass, mirrors, windshields, defrost systems, etc. Increasing vehicle production across the world will further drive the silver paste demand in the forecast time period.
Asia Pacific is likely to witness a significant growth in silver paste market owing to rising demand for the automotive and electronic industries. The product is used for a range of electronics applications including conductive stickers, electronic circuits, etc. Major countries such as China, Japan and India are expected to have significant growth in the automotive and electronics sector, which will significantly boost the market demand in the upcoming years. Europe is also expected to grow at a significant rate in the upcoming years due to increasing solar power industry in the region.
Some of the key market players of silver paste market, which include Heraeus Holding, Ferro Corporation, Samsung SDI Co., Ltd., DuPont, Johnson Matthey, Targray Technology International Inc, 3M, Cement Material Inc, Fukuda Metal Foil & Powder Company, Techinstro, Mitsuboshi Belting Ltd., Murata Manufacturing Co., Ltd, Asahi Chemical Research Lab, KYOCERA Corporation and DOWA Electronics Materials Co. Ltd.
Silver Paste Market, By Base Resin, 2014-2025 (USD Million)
- Polymer based
- Ceramic based
Silver Paste Industry, By Type, 2014-2025 (USD Million)
- Front side silver paste
- Back side silver paste
Silver Paste Market, By End-user Industry, 2014-2025 (USD Million)
- Paints & coatings
- Solar energy
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- Saudi Arabia
- South Africa
- Heraeus Holding
- Ferro Corporation
- Samsung SDI Co., Ltd.
- Johnson Matthey
- Targray Technology International Inc
- Cement Material Inc
- Fukuda Metal Foil & Powder Company
- Mitsuboshi Belting Ltd.
- Murata Manufacturing Co., Ltd.
- Asahi Chemical Research Lab
- KYOCERA Corporation
- DOWA Electronics Materials Co. Ltd
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