SILVER PASTE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
The global silver paste market is estimated to be valued at USD 3.49 Bn in 2024 and is expected to reach USD 4.79 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031. The global silver paste market has been growing steadily over the past few years owing to the increasing demand for silver paste from various end-use industries such as solar photovoltaics, electronics, and automotive. Silver paste finds widespread application in the manufacturing of solar cells as it helps conduct electricity and raise cell efficiency. It is also used in the electronics industry for developing electrical contacts in printed circuit boards, switches, connectors, and various other components. Rising sales of consumer electronics coupled with growing adoption of electric vehicles around the world has augmented the need for silver paste substantially. However, fluctuations in raw material prices and availability remain a major challenge for manufacturers. But ongoing technical advancements to enhance conductivity and reduce paste usage are expected to present new opportunities for market growth in the coming years.
Market Dynamics
The key factors driving the global silver paste market include rapidly expanding solar photovoltaics industry, growing electronics sector, and rising electric vehicle production. Surging deployment of solar panels for power generation along with various government initiatives to promote renewable energy has stimulated the demand for silver paste from solar cell manufacturers. In addition, proliferating sales of smartphones, laptops, IoT devices, and other consumer electronics have bolstered the market. Innovation and technological progressions to develop more efficient electronic components have further augmented market growth. However, volatility in silver prices poses a major challenge as it increases production costs for manufacturers. Moreover, availability issues due to geopolitical tensions can restrain market expansion. On the flip side, ongoing R&D to enhance paste conductivity and reduce consumption presents new opportunities.
Key Features of the Study
- This report provides in-depth analysis of the global silver paste market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global silver paste market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Heraeus Holding GmbH, DuPont de Nemours, Inc., Mitsubishi Materials Corporation, Johnson Matthey PLC, Taiyo Holdings Company, Ltd., Cermet Group, Daejoo Electronic Materials Co., Ltd., Giga Solar Materials Corp., Sun Chemical Corporation, and Agfa-Gevaert Group
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global silver paste market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global silver paste market
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Silver Paste Market' - Global forecast to 2031
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