Silver Ink & Paste Market by Application (Photovoltaic, Display, Lighting, RFID, Thick Film, Sensor) and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity 2019-2024

Silver is most widely used conductive material because of its high electrical conductivity. Silver inks and pastes have been used for photovoltaics (PV), light emitting diodes (LEDs), sensors, displays, membrane touch switches, printed batteries, RFID antennae and other printed electronic applications. The analysts forecast the global silver ink & paste market to exhibit a CAGR of 4.4% during the period 2019 2024. The report covers the present scenario and the growth prospects of the global silver ink & paste for 2019 2024. To calculate the market size, the report considers the silver ink & paste sales volume and revenue.

Growth in the market can be attributed to several critical factors such as strong demand from the end-use industries. Possesses certain inherent advantages such as better electrical conductivity and strong resistance to oxidation. Conductive silver ink products find use in markets such as medical devices, consumer electronics, and alternative energy solutions. The products also find applications in polymer thick-film circuitry, EMI, and RFI shielding of polyimide flexible circuits, membrane switches, and coatings for tantalum capacitors. The inks are used on various substrates such as Mylar, Kapton, polycarbonate, Glass, Polyester, Polyimide, Teflon and Silicone Surfaces, and ITO-coated Surfaces. The developing, as well as the developed nations, has been witnessing an increase in consumption of various electronic devices. As such devices depend on Integrated Chipsets (IC) to coordinate and assist machines, the raw material plays a crucial role in preserving that efficiency. Silver is one of the best electrical conductivity materials, and its properties have been demonstrated in the production of printed circuit boards, switches, and television screens, among other things. The conductive silver paste comes equipped with easier solderability, which helps in holding the substrates in their place. Moreover, conductive silver paste is used to remove heat from electronics. Technological advancements have led to the increase in heat dissipation requirements, supporting the growth of the global market for conductive silver paste. The silver conductive paste is a highly conductible substance in nature. Also known as conductive paint across varied industries, the substance is commonly used in research and industries. The paste is made from a combination of various compounds developed to further create electrically conductive glue. This substance is used for converting a nonconductive surface into a conductive one. It is denoted by the molecular formula of silver, which is Ag. The silver concentration in the conductive paste is over 75%, whereas the purity of the silver paint is around 99.98%. Silver paste has a high adhesion or bond to any surface, which allows it to adhere to any surface. It catalyzes the production of printable silver conductive ink, which is utilized in the production of printed circuit boards (PCBs).

Asia-Pacific region dominates the demand for silver inks. It can be attributed to the rising demand for silver inks due to the rapid economic growth of the developing economies, and the rising disposable income in the region contributes to market growth. Government bodies  have introduced environmental rules to promote manufacturing by upgrading them with lighter new materials to reduce the number of heavy items used in any product. The consumer behavior for compact and light materials  in the automotive industry has boosted the market for silver ink. Innovation in fields such as back windshield application industry. Europe has a substantial market share. Growing concerns about high carbon emissions have placed government entities at risk of transitioning to cleaner energy alternatives. This, has resulted in higher investments for solar photovoltaic systems, contributing to demand growth in this area. Due to the availability of alternative products, Middle East and Africa are expected to face slow growth. In many applications, carbon particles are favored, as they deliver appropriate technical capabilities at a cheap price. Latin America is seeing relatively slow growth due to the lack of manufacturing base in the region. 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. Additionally, the compositions of the paste consist of a series of screen printable silver conductors for multi-crystalline and monocrystalline solar cells, which helps achieve higher power generation. It is thus contributing to the growth of the global silver conductive paste market.

The conductive silver ink and 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 aluminium paste, is holding the market back. The Aluminium paste is also subject to price fluctuations, but it is available at a reasonable cost compared to silver paste. Thus, the high product price limits the product's application to some areas. These factors are expected to hamper the growth of conductive silver paste during the forecast period.

Impact of COVID-19
The global economy took a toll when the pandemic hit the world. As a result, the governments of different countries had 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. It is thus expected to increase the production of conductive silver paste globally

The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: regional markets, and application.

Geographically, the global silver ink & paste market is segmented into North America, Asia Pacific, Europe, Middle East & Africa and South America. This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub segments from 2019 to 2024.
North America (U.S., Canada, Mexico, etc.)
Asia Pacific (China, Japan, India, Korea, Australia, Indonesia, Taiwan, Thailand, etc.)
Europe (Germany, UK, France, Italy, Russia, Spain, etc.)
Middle East & Africa (Turkey, Saudi Arabia, Iran, Egypt, Nigeria, UAE, Israel, South Africa, etc.)
South America (Brazil, Argentina, Colombia, Chile, Venezuela, Peru, etc.)

Based on application, the silver ink & paste market is segmented into:
Photovoltaic
Display
Lighting
RFID
Thick Film
Sensor

The report also includes a discussion of the key vendors operating in this market. Some of the leading players in the global silver ink & paste market are:
ANP Co., Ltd.
Applied Nanotech, Inc.
Arraycom (India) Limited
Creative Materials Inc.
Daicel Corporation
Daiken Chemical Co., Ltd.
DOWA Electronics Materials Co., Ltd.
E. I. du Pont de Nemours and Company
Ferro Corporation
Fujikura Kasei Co,. Ltd.
Harima Chemicals, Inc.
Heraeus Holding GmbH
Johnson Matthey Plc
Megami Ink Mfg. Co., Ltd.
Novacentrix Corp.
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Objective of the study:
To analyze and forecast the market size of global silver ink & paste market.
To classify and forecast global silver ink & paste market based on region, and application.
To identify drivers and challenges for global silver ink & paste market.
To examine competitive developments such as expansions, mergers & acquisitions, etc., in global silver ink & paste market.
To conduct pricing analysis for global silver ink & paste market.
To identify and analyze the profile of leading players operating in global silver ink & paste market.

The report is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. Key target audience are:
Manufacturers of silver ink & paste
Raw material suppliers
Market research and consulting firms
Government bodies such as regulating authorities and policy makers
Organizations, forums and alliances related to silver ink & paste

The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with silver ink & paste suppliers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, and proprietary databases.

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Manmayi Raval

Research Consultant

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