Published: Apr-2021 | Format: PDF | Market Research Store | Number of pages: 165 | Code: MRS - 828576
According to the report published by Market Research Store, global demand for the Ag Paste Market was estimated at approximately USD 2,600 Million in 2019 and is anticipated to generate revenue of around USD 5,000 Million by end of 2026, growing at a CAGR of around 10% between 2020 and 2026.
Global Ag Paste Market: Overview
Silver paste is naturally extremely conductive. It is mostly used in science and industry, but it is primarily of commercial quality. This paste is made up of a special blend of compounds that have been formulated to form an electrically conductive glue. It's represented by the letter (Ag), which stands for silver's molecular or linear formula. The conductive paste has a concentration of more than 75%, while the silver polish has a purity of 99.98%. It is both electrically and thermally conductive. The silver paste has strong adhesion to every surface, so it sticks to it easily. Due to the volatile solvent origin, it soon becomes dry. It's represented by (Ag), which is the silver's molecular or linear formula. The conductive paste has a concentration of more than 75%, while the silver polish has a purity of 99.98%. It is both electrically and thermally conductive. The silver paste has strong adhesion to every surface, so it sticks to it easily. Due to the volatile solvent origin, it soon becomes dry. It is a key component in the production of printable silver conductive ink, which is primarily used in PCBs. The viscosity of the conductive paste can be customized according to the applications since it easily dissolves in thinner or solvent. It is generally more conductive than most conductive paints.
Global Ag Paste Market: Growth Factors
The Ag Paste Market is anticipated to grow at a rapid rate in the coming years, owing to increased use in the solar industry. The substance is mainly used in the manufacturing of photovoltaic (PV) cells. Silver paste is commonly used in solar panels, cars, and electrical components to form bonds. The component has superior electrical stability, solderability, and adhesion as compared to other materials. Increased investments by governments and private sector firms to expand renewable energy use will propel the solar power industry in the coming years. Environmentally safe RFID tags are also printed using silver paste printing technology. In recent years, the electronic mark market, which is used in logistics, clothes, anti-counterfeiting, and unmanned retail, has grown exponentially and now exceeds USD 40 billion.
Global Ag Paste Market: Segmentation
The market is divided into back side ag paste and front side ag paste based on product type. Backside ag paste has the highest market share because it tends to lower overall costs while ensuring superior results. It can be considered a reliable factor in achieving high yields and decreasing manufacturing costs. They are often taken into account when it comes to having excellent solderability and adhesion power. Since this paste is primarily used in the manufacture of solar cells, and the growing need for renewable energy sources around the world has resulted in an increase in demand for solar cells, the ag paste market is anticipated to expand in the coming years. The market is divided into ceramic-based and polymer-based segments based on the base resin. The polymer-based resin has the highest market share because it has the greatest cost-to-conductivity ratio and can be readily applied to solid substrates. It also has stronger adhesion properties and solvents that evaporate faster. The industry is categorized into automobiles, research and development, electronics, renewable energy, paints and coatings, and others based on end-user segmentation. Since this paste is used in a variety of applications for carmakers, such as tapered and laminated automotive window glass, mirrors, windshields, defrost systems, and so on, the ag paste industry is expected to grow significantly in the automotive industry. Increasing global auto production is expected to fuel demand for silver paste in the projected timeframe.
Global Ag Paste Market: Regional Analysis
In major countries of the Asia Pacific region including China, Japan, and India, substantial growth in the automobile and electronics sectors is anticipated, boosting market demand in the coming years. Conductive stickers, electrical circuits, and other electronics applications will all benefit from the material. For the forecast era, the Asia Pacific Region's demand for Ag paste is projected to be boosted by rising solar energy demand and strong subsidies from local government bodies in China, India, and Japan. Europe is projected to develop rapidly in the coming years, thanks to the region's flourishing solar power industry.
Global Ag Paste Market: Competitive Players
The major players dominating the global Ag Paste Market in terms of revenue and development 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, Cement Material Inc, and Others. These major companies have used a variety of tactics to gain a reputable foothold in the global economy, including negotiating deals, shares, contracts, alliances, joint ventures, new product releases, collaborations, and mergers and acquisitions. Monocrystal launched the MY-555 back-side ag paste for Passivated Emitter Rear Contact (PERC) solar cells in February 2017, which is cost-effective. MY-555 was developed primarily to meet the need for a product with a strong mix of silver content and paste use. MY-555 was developed especially for PERC solar cells as a low-cost metallization paste with a strong combination of silver content and paste use. MY-555 has a silver volume of 55 percent and a lower consumption per wafer of 6%, resulting in a 10-15% lower average cost of ownership. MY-555 is said to increase adhesion by up to 50%, resulting in better performance yields and increased cell and module reliability.
Ag Paste Market: Regional Segment Analysis