Conductive Silver Paste Market size is estimated to reach $13 billion by 2030, growing at a CAGR of 9.0% during the forecast period 2023-2030. A conductive adhesive with silver nanoparticles as its principal component is called conductive silver paste. The market is anticipated to increase as a result of rising demand for conductive adhesives in electronics and the expansion of 5G communication infrastructure. Additionally, the rising usage of renewable energy is anticipated to fuel market expansion. The demand for conductive silver paste in industries such as automotive, electronics, and solar energy., which is driving the demand for conductive silver paste Market.
Additionally, the conductive silver paste is widely used in end-user industries such as automotive. The silver paste used as a conductive material is used to create electrical circuits on many auto parts. Sensors, switches, control modules, and other electronic components all have these circuits. Electrical lines can be created with the paste straight onto surfaces, flexible substrates, and even circuit boards. According to the Society of Indian Automobile Manufacturers, the industry produced 2,59,31,867 vehicles between April 2022 and March 2023, including passenger cars, trucks, three-wheelers, two-wheelers, and quadricycles which is driving the demand for conductive silver paste market.
Conductive Silver Paste Market- Report Coverage:
The “Conductive Silver Paste Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Conductive Silver Paste Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
● As the COVID-19 epidemic spread across the globe, the global economy was negatively impacted. As a result, many nations had to enact nationwide lockdowns to stop the virus from spreading. In order to curb the virus's spread, companies and manufacturers had to halt their operations. The shutdown hindered the supply chain, reducing the number of sectors that used silver paste as a raw material. The enterprises also had to deal with a supply of silver paste that was less conductive, which prevented future growth. However, some people are spending more on electronics in response to the introduction of vaccinations, which could increase the production capabilities of firms. As a result, it is projected that manufacturing of conductive silver paste would increase.
● The invasion of Ukraine by Russia in 2022 caused global disruptions in the markets. The conflict between Russia and Ukraine has an effect on international trade and supply chains, and it may have an impact on the cost and availability of raw materials, including those required for the production of conductive silver paste. Any interruption to these supply could have an impact on the market for silver paste since Ukraine is known to be a large source of several metals, including silver.
Furthermore, conflicts and geopolitical unrest result in modifications to international trade regulations, tariffs, and export limitations. These modifications have an impact on the availability and price of conductive silver paste on the world market.
● Key Takeaways:
● Highest Share of North America Region
Geographically, in the global Conductive Silver Paste Market share, North America is analyzed to grow with the highest CAGR of 31% during the forecast period 2023-2030. The region has the highest rate of electronic device use. The World Bank estimates that there are about 134 mobile cellular subscriptions registered in the United States for every 100 inhabitants. Additionally, the IoT's integration into products will increase demand for automotive ICs in the future years. In addition, applying silver paste to ICs helps to lower the heat. During the projection period, the conductive silver paste market would expand more quickly due to this attribute of the product.
Sintering Segment to Register the Fastest Growth
In the Conductive Silver Paste Market Analysis, the Sintering segment is estimated to grow with the highest CAGR of 10.1% during the forecast period 2023-2030. Solar cells, printed circuit boards, capacitors, conductive adhesives, and other products are made with
sintered conductive silver paste. The paste can be spread without changing the deposition and is employed across a variety of high-metal-loading applications. For strong joints to develop on Leadframes, IPM pads, and DBCs, pastes must be sintered. In contrast to polymer types, this approach promotes bond formation, improves solderability, and expands the market for conductive silver paste globally.
● Solar Energy Sector is the Fastest Growing Segment in the Market
According to the Conductive Silver Paste Market the Solar Energy segment is estimated to grow with the highest CAGR of 10.8% during the forecast period 2023-2030. The research, development, and demonstration projects seek to advance domestic solar manufacturing, promote solar panel recycling, and create new solar technologies that are created in the United States.
According to the U.S. Department of Energy (DOE) 2023, The Biden-Harris Administration's targets of a 100% clean electricity grid by 2035 and net-zero carbon emissions by 2050 must be met, and this requires accelerating solar energy manufacture, production, adoption, and integration across America. owing to the fact that silver is a crucial component in the creation of solar PV panels, the expansion of the silver paste sector is a result of the increased demand for solar energy.
● Renewable Energy Sources are Expanding, Especially Solar Energy.
Energy is one of the most essential building blocks for human progress, and as such, it plays a crucial role in deciding how any nation's economy develops. The energy industry has grown quickly in an effort to fulfill the demands of a developing country. It is crucial to remember that human use greatly depletes non-renewable resources, yet ongoing processes that produce renewable resources allow for endless human exploitation.
According to Ministry of New and Renewable Energy 52 solar parks with a combined capacity of 37.92 GW in 14 states have received approval in 2021. Solar parks offer a plug-and-play concept for solar power developers by providing essential infrastructure, such as land, power evacuation facilities, road connectivity, water facility, etc. Which is anticipated to driving the demand for conductive silver paste market.
● Growing Need for Conductive Adhesives in the Electronics Industry
The consumption of numerous electronic devices has increased in both developing and developed countries. In order to coordinate and help machines, these gadgets rely on
Integrated Chipsets (IC), therefore the raw material is essential to maintaining that efficiency. The substrates are held firmly in place owing to the better solderability of the conductive silver paste.
According to IPC International Inc, sales in the North American PCB Industry rose by 6.7%. The development of printed circuit boards, switches, and television screens, among other things, is evidence of silver's abilities as one of the best electrical conductivity materials. In addition, conductive silver paste is employed to cool electronics. The demand for heat dissipation has increased due to technological developments, which has supported the expansion of the global market for conductive silver paste.
● Price Volatility and Rising Costs Acts as a Major Market Challenge.
The thermal and conductivity effects of the conductive silver paste may differ. The market for conductive silver paste is expanding globally, but this growth is being constrained by the product's rising costs. The market's expansion will be hampered by the rising expenses of trading silver, which are expected to remain unchanged for the foreseeable future. Furthermore, several developing nations still find renewable energy to be too pricey, making it overpriced. Therefore, it makes using the conductive silver paste less beneficial in certain places.
The demand is also maintained by the growing need for alternatives like aluminum paste. Although there are price swings for aluminum paste, it is still reasonably priced compared to silver paste. As a result, a product's application in certain niche markets is determined by its high price. During the projected period, these traits are anticipated to restrain the development of conductive silver paste.
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Conductive Silver Paste Market. The top 10 companies in this industry are listed below:
1. Dycotec Materials Ltd (Dycotec)
2. Kyoto Elex Co ltd (Kyoto)
3. Nordson Corporation (Nordson)
4. Nippon Kokuen Group (Nippon)
5. Taiwan Ostor Corporation (Taiwan Ostor Corporation)
6. Daiken Chemical Group (Daiken Chemical)
7. KAKEN TECH Co Ltd (TK Paste)
8. Heraeus company (Heraeus)
9. American Elements (American Elements)
10. Shanghai Daejoo (Shanghai Daejoo
Scope of Report:
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