Continuous advancements in the chemistries of silver (Ag) paste have led to expanding the avenue for companies in the AG paste market. Ag paste have been used extensively in making electronic and electrical components, automobiles, and solar cells. The commercialization of PV cells has been a powerful force in spurring the sales of Ag paste products among industrial buyers. Advances in chemistries of Ag paste has led to its use growing in numerous key markets. A recent case in point is the use of Ag paste as a conductive stretchable paste in making stretchable electronics.
A robust fillip to the demand in the market is likely to come from the electrical and electronics industry. Market Insights on Ag Paste asserts that a sizable chunk of revenues will come from the burgeoning shipping of electronic components and consumer devices. Ag paste has application in fabricating a wide range of components including multilayer ceramic capacitors, and adhesives.
Ag paste manufacturers have benefitted from the rise in demand for Ag paste in the manufacturing sector for a wide range of electrical components. Use of Ag paste in multilayer ceramic capacitors has also risen in order to meet the demand in various end-use industries. Substantial avenues for electronics come from the automotive sector. In the sector, Ag paste has been extensively used in making printed circuit boards of defogging systems of vehicles. Rise in manufacturing of vehicles to meet the demand for consumers in developing economies is a key trend in the Ag paste market.
Production of Solar Power Generation Spurring Application of Ag Paste
Market survey on Ag paste has found that the thermal interface material has been found to be a crucial component in photo-voltaic cells. A great deal of the momentum has come rise in production of solar cells in various parts of the world to meet renewable energy needs. Research report on Ag paste finds that the application is expected to spiral to touch new levels. This in large part is underpinned on the focus of PV cell manufacturers on boosting the yield and attain high outout in solar power production. They are highly compatible with Si-wafers.
Ag paste has been used as rear side materials in monocrystalline and multi-crystalline solar cells. In recent years, Ag paste has been used as metallization pastes of different types to meet customized needs of businesses in PV cell manufacturing. On the other hand, research report on Ag paste finds that the use of Ag paste in the EMI shielding is expected to lose some sheen.
Some of the key players in the Ag paste market are Heraeus Holding, Henkel AG & Company KGaA, Cermet Materials, Inc., AG PRO TECHNOLOGY CORP, Johnson Matthey, Metalor Technologies International SA, DuPont, and 3M.
Demand for AG Paste in Various Applications in Emerging Economies Drives Asia Pacific
The various key regional markets are Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Of these, Asia Pacific held the major share in 2015. The growth has been fuelled by rise in demand in multiple applications in emerging economies. Key to the growth avenues are the spiralling sales of Ag paste among businesses in India and China to meet the demands in the electrical and electronics manufacturing. In coming year, the demand is expected to rise in Asia Pacific. This can be ascribed to the presence of large untapped avenue waiting to be exploited. A recently emerging demand for AG paste has come from many businesses engaged in producing stretchable electronics. In such components, Ag paste is used in making of recoverable wiring and reliable bonding.
North America and Europe have been promising regional markets for quite some time until 2016, after which demand for Ag paste in solar cells has declined significantly in these regions.
This review is based on Transparency Market Research’s report, titled “Ag Paste Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024.”
This report segments the global Ag paste market as follows:
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