Conductive Silver Paste Market

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Conductive Silver Paste Market, By Type,
Competitive Market Share Forecast, 2020-2026
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Industry Trends Forecast Report 2027 A study
recently conducted by the strategic consulting
and market research firm BlueWeave
Consulting revealed that the global conductive
silver paste market reached USD 7.1billion in
2020. The market is further projected to reach
USD 13.3 billion by 2027. The data generated by
the study reveals that the market is further
expected to grow at a CAGR of 9.9 during
2021-2027(forecast period).Conductive silver
paste's chemical properties have proved crucial
to the growth of demand for such substances
around the world. Chemical properties such as
thermal management and higher electrical
conductivity, along with the possibility of
corrections at room temperature, coupled with
reduction capabilities of skinning and odor are
some of the major factors driving the growth of
the conductive silver paste market.
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Growth drivers Increasing growth of renewable
energy sources (Solar Energy) According to the
latest estimates released from the Government of
India, India has been able to increase its solar
power capacity by over five times during the last
five years from 6.7 GW to 40 GW in March 2021.
Due to India's outstanding performance in the
renewable energy country attractiveness index,
demand for solar panels in India has been
boosted, increasing the prospects for the market.
Conductive silver paste (Ag paste) materials
provide higher yields and outputs for solar PV
cell manufacturers, which is augmenting the
demand for such pastes.
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Restraints Price fluctuation high cost The
conductive silver paste may have various
advantages when it comes to its thermal and
conductivity properties. However, the rising
prices of the product are impeding the growth of
the global conductive silver paste market. The
rising silver trading prices are expected to stay
put for the upcoming years, thereby hampering the
growth of the market. Moreover, renewable energy
is still too expensive for some of the developing
countries, which makes it an expensive affair. It
thus renders the use of the conductive silver
paste to be less-useful in those areas.
Additionally, the rising demand for substitutes,
like aluminum paste, is holding the market
back.The Aluminum paste is also subject to price
fluctuations, but it is available at a reasonable
cost compared to silver paste.
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Impact of COVID-19 The global economy took a toll
when the pandemic hit the world. As a result, the
governments of different countrieshad to impose
nationwide lockdowns to prevent the virus from
spreading. Thus, in order to put an end to the
spread of the virus, factories and manufacturers
had to shut down their operations. Because of the
shutdown, the supply chain was disrupted, which
ultimately led to a decline in industries that
used silver paste as a raw material. Further, the
companies had to contend with a reduced supply of
conductive silver paste, which further hindered
growth. Nevertheless, vaccine rollouts are
encouraging some consumers to boost their
spending on electronics, which may boost the
production capacities of manufacturers.
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Global Conductive Silver Paste Market Regional
Insights Based on region, the global conductive
silver paste market is segmented into North
America, Europe, Asia Pacific, Latin America, and
the Middle East and Africa. Among these regions,
North America presently holds the biggest share
in the conductive silver paste market. North
America has some of the highest smart phone
penetration rates in the world. According to
World Bank estimates, the United States has over
134 mobile cellular subscriptions per 100 people,
demonstrating that the region is a great market
for electronic devices. Also, the advent of the
IoT in the automotive industry will enhance
requirements for the ICs used in vehicles.
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Global Castor Oil and Derivatives Market
Regional Insights Some of the key players in the
global conductive silver paste market include
Toyo Ink Co Ltd., Nordson Corporation,Henkel AG
Co. KGaA, Nippon Kokuen Group, Asahi Chemical
Research Laboratory Co., Ltd, Taiwan Ostor
Corporation, Heraeus Holding, DK Electronic
Materials,Daikin Chemical Co. Ltd., Kaken Tech
Co. Ltd., American Elements, Fujifilm Holdings
Corporation, DuPont de Nemours, Inc., and other
prominent players. Sample Copy
https//www.blueweaveconsulting.com/report/global
-conductive-silver-paste-market/report-sample
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