NEW YORK, Sept. 8, 2021 /PRNewswire/ — Findings from Market Research Store report “Ag Paste Market – By Product Type (Back Side Ag Paste, Front Side Ag Paste), By Base Resin (Ceramic based, and Polymer based), By End User (Automotive, R&D. Electronics, Solar energy, Paints & coatings, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global demand for Ag Paste market in 2019 was approximately USD 2,600 Million. The market is anticipated to grow at a CAGR of 10% and is anticipated to reach around USD 5,000 Million by 2026.
Owing to increasing use in the solar industry, the Ag Paste Market is expected to expand at a significant pace in the coming years. During the fabrication of photovoltaic (PV) cells, the product is primarily used. To shape a bond, silver paste is widely used in solar cells, automobiles, and electronic components. In comparison to other materials, the product has excellent electrical stability solderability and adhesion. In the coming years, the solar power industry will be driven by increased efforts by governments and private sector companies to increase renewable energy use. Silver paste printing technology is also used in the manufacture of environmentally friendly RFID tags. The electronic label industry, which is used in logistics, clothing, anti-counterfeiting, and unmanned retail, has expanded rapidly in recent years and now exceeds USD 40 billion.
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The automotive industry’s extensive use of AG paste for defogging systems, antennae, and warning circuits is propelling AG paste’s market development. On the other hand, the availability of low-cost substitutes such as copper and aluminum has a negative effect on EMI shielding, even though they do not equal the quality of AG paste. The Ag paste market is growing due to rising demand from PV capacity advancement in the solar industry. The use of Ag paste in the production of multilayer ceramic capacitors, resistors, adhesives, and a variety of other electrical components is propelling the market forward.
Significant growth in the automotive and electronics sectors is anticipated in major countries such as China, Japan, and India, which will significantly boost consumer demand in the coming years. Due to the region’s growing solar power industry, Europe is expected to expand at a significant pace in the coming years. Due to growing demand in the automotive and electronic industries, the silver paste market in the Asia Pacific is expected to rise significantly. The substance can be used for conductive stickers, electronic circuits, and other electronics applications.
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On the basis of product type, the market is bifurcated into back side ag paste and front side ag paste. The back side ag paste holds the maximum share as it helps in reducing the overall cost along and helps in maintaining excellent performance and can be considered to be a reliable factor further producing high yields and lowering the manufacturing costs. They are also considered in providing excellent solderability with high adhesion strength. As this paste is majorly used in solar cell manufacturing and the surging need for renewable energy sources across the globe has led to an upsurge in the demand for solar cells, thus stimulating the growth of the ag paste market. On the basis of the base resin, the market is segmented into ceramic-based and polymer-based. The polymer-based resin holds the largest market share as this material offers the best combination of cost and conductivity and can be easily used on rigid substrates. It also provides good adhesion properties along with faster evaporation solvents. Based on end-user segmentation, the market is divided into automotive, r&d, electronics, solar energy, paints & coatings, and others. The ag paste industry is expected to develop significantly in the automotive industry as this paste is used in a range of applications for carmakers, including tapered and laminated automotive window glass, mirrors, windshields, defrost systems, and so on. In the forecast timeframe, rising car production around the world would boost demand for silver paste.
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Prominent players in the Ag Paste market are Fukuda Metal Foil & Powder Company, Heraeus Holding, Johnson Matthey, Ferro Corporation, DOWA Electronics Materials Co. Ltd., Samsung SDI Co., Ltd., KYOCERA Corporation, DuPont, Asahi Chemical Research Lab, Targray Technology International Inc, Murata Manufacturing Co., Ltd, 3M, Mitsuboshi Belting Ltd., Techinstro, and Cement Material Inc among others. The aforementioned companies’ primary strategy for market growth is to invest in the research and production of new prescription products.
In February 2017, Monocrystal introduced the MY-555 back-side ag paste for Passivated Emitter Rear Contact (PERC) solar cells, which saves money. MY-555 was created specifically to satisfy the need for a commodity that has a good combination of silver content and paste use. MY-555 was created specifically for PERC solar cells as a low-cost substitute metallization paste with a good combination of silver content and paste use. MY-555 has a 55 percent silver content and a 6% lower intake per wafer, resulting in a 10-15% lower total cost of ownership. MY-555 is said to provide up to a 50% increase in adhesion, resulting in higher output yields and improved cell and module reliability.
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This report segments the Ag Paste market as follows:
Global Ag Paste Market: By Product Type Based Segmentation Analysis:
- Back Side Ag Paste
- Front Side Ag Paste
Global Ag Paste Market: By Base Resin Segmentation Analysis
- Ceramic based
- Polymer based
Global Ag Paste Market: By Base Resin Segmentation Analysis
- Solar energy
- Paints & coatings
Global Ag Paste Market: Regional Segmentation Analysis
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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