Silver Paste Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
MARKET ANALYSIS
Silver paste is a conductive paste comprising of silver particles as main constituent. It is used as conductive adhesive in many applications such as paints & coatings, automotive, and electronics. The silver paste is formulated to encompass electrical conductivity, good adhesion properties, compatibility with various substrates, and the ability to tolerate high temperatures. It is widely used in the production of electronic components such as integrated circuits (ICs), printed circuit boards (PCBs) and surface-mount devices (SMDs). Silver paste is a major component in the manufacturing of solar cells, as it creates electrical contact on the cell surface, facilitating electricity transmission.
GROWTH DRIVERS AND CHALLENGES
The rising use of electronic devices across the globe has aided the silver paste market growth in the past few years. The increased utilization of electronic devices such as smartphones, laptops, tablets and wearable devices is boosting the demand for silver paste in producing electronic components. Silver paste is utilized in fabrication of PCBs to create conductive traces that connect various components on the board. It is applied using screen printing or stencil printing methods to define the required circuit pattern. Silver paste is also used in the production of sensors, electromagnetic shielding, and Radio-Frequency Identification (RFID) tags. According to Japan Electronics & Information Technology Industries Association, electronic equipment production in Japan increased, valued at US$ 8,61,985 billion in March 2022, compared to US$ 6,84,980 in February 2022. The significant growth in the production of electronic products across emerging countries worldwide is fuelling the demand for silver paste. The volatility in prices of raw materials, particularly silver, pose a challenge to the silver paste market. Silver is subject to significant price fluctuation, influenced by economic conditions, supply-demand gap, and investor purchasing behavior. Hike in the price of silver can increase the production cost of silver paste, subsequently impacting the product demand. Government policies, import/export regulations, and tax policies related to the silver industry can also impact the prices of silver, thus making the silver paste market susceptible to price fluctuation of silver.
REPORT SEGMENTATION AND SCOPE
The "Global Silver Paste Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global silver paste market trends and growth opportunities. The report aims to provide an overview of the global silver paste market with detailed market segmentation by type, application, and geography. The global silver paste market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of silver paste worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the silver paste market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the silver paste market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative silver paste market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global silver paste market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global silver paste market is segmented on the basis of type, and application. Based on type, the silver paste market is segmented as, silver glass paste, silver sintering paste, silver epoxy paste, and others. On the basis of application, the market is classified as, electronics, paints and coatings, solar energy, and others. Based on type, silver glass paste accounted for a significant silver paste market share, attributed to its broad utilization in microelectronics, high frequency circuits, sealing of electronic packages and optoelectronics. Silver epoxy paste has good adhesion properties and is generally used for bonding and electrical connections in electronic assemblies. Silver sintering paste is developed for high-temperature applications and power electronics. Based on the application industry, electronics accounted for a significant silver paste market share due to a wide range of applications such as printed circuit boards, integrated circuits, surface-mount devices, wire bonding, and die attach. Silver paste is utilized in the fabrication of thick film resistors to provide a specific level of electrical resistance in electronic circuits. Silver paste is extensively used in producing solar cells for creating electrical contacts, front side and back side contacts to facilitate efficient transmission of electricity. Silver paste also has applications in other industries such as automotive sector for production of control modules, sensors and electrical connections.
REGIONAL ANALYSIS
The report provides a detailed overview of the global silver paste market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific is estimated to account for a significant silver paste market share globally. The presence of major electronics and solar energy companies and emerging economies such as China, India, Japan, South Korea, and Taiwan, with prominent automotive manufacturing hubs is expected to boost the demand for silver paste. Asia Pacific comprises a significant consumer market with high demand for electronic devices and automobiles from countries such as China, India, and Japan. Government support and investment in Asian countries have further promoted the development of electronic industry. Europe is expected to grow considerably due to technological advancements in electronics and solar energy industries. European companies are investing significantly in the research and development of cutting-edge electronic components, semiconductor devices, and automotive technologies.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions and new product launches were found to be the major strategies adopted by the players operating in the global silver paste market.
In March 2022, DuPont Microcircuit and Components Materials announced launch of 5881 silver/silver chloride (Ag/AgCl) conductive ink/paste for healthcare applications. It has good conductivity, long term printability, and low electrode polarization properties.
In July 2021, DK Electronic Materials, a manufacturer of conductive silver paste, announced investment of US$ 192 million for the acquisition of DuPont's silver paste business.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
The COVID-19 pandemic adversely impacted the global economy and slowed the growth of various industries such as chemicals & materials, electronics, and automotive. The shutdown of multiple manufacturing plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East & Africa affected the global supply chain. This hampered the manufacturing, delivery schedules, and sales of various goods. Various companies announced possible delays in product deliveries and projected a slump in the sales of their products. In addition, travel bans imposed by countries in Europe, Asia Pacific, and North America affected business collaborations and partnership opportunities. All these factors hampered the progress of the chemicals & materials industry, along with restraining the growth of various markets related to this industry. Moreover, electronic manufacturing declined during this period due to the shortage of raw materials and a limited workforce. However, in 2021, businesses regained their production capacities as the governments of various countries eased out the previously imposed restrictions. Moreover, introducing the COVID-19 vaccine further eased the situation leading to a rise in business activities across the globe. The start of operations in the manufacturing units positively impacted the silver paste market. Further, manufacturers could overcome the demand and supply gap by operating at total capacity. Moreover, the export and import volumes in the chemicals & materials industry increased due to the relaxation of border and trade restrictions. Therefore, the silver paste market has recovered quite well from the aftermath of the pandemic and is expected to grow over the coming years.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the silver paste market include Heraeus Holding, Ferro Corporation, DuPont, Namics Corporation, Mitsuboshi Belting Ltd, Henkel AG and Co, Asahi Chemical Research Laboratory Co Ltd, Fukuda Metal Foil and Powder Co Ltd, Fujikura Kasei Co Ltd, Nippon Kokuen Group, and Suzhou Betely, among others.
REGIONAL FRAMEWORK![World Geography](https://www.theinsightpartners.com/assets/rdimages/world-geography.png)
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Silver Paste Market - By Type
1.3.2 Silver Paste Market - By Application
1.3.3 Silver Paste Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SILVER PASTE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. SILVER PASTE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SILVER PASTE MARKET - GLOBAL MARKET ANALYSIS
6.1. SILVER PASTE - GLOBAL MARKET OVERVIEW
6.2. SILVER PASTE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. SILVER PASTE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. FRONT SIDE SILVER PASTE
7.3.1. Overview
7.3.2. Front Side Silver Paste Market Forecast and Analysis
7.4. BACK SIDE SILVER PASTE
7.4.1. Overview
7.4.2. Back Side Silver Paste Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. SILVER PASTE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE
8.3.1. Overview
8.3.2. Automotive Market Forecast and Analysis
8.4. ELECTRONICS
8.4.1. Overview
8.4.2. Electronics Market Forecast and Analysis
8.5. PAINTS AND COATINGS
8.5.1. Overview
8.5.2. Paints and Coatings Market Forecast and Analysis
8.6. SOLAR ENERGY
8.6.1. Overview
8.6.2. Solar energy Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. SILVER PASTE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Silver Paste Market Overview
9.1.2 North America Silver Paste Market Forecasts and Analysis
9.1.3 North America Silver Paste Market Forecasts and Analysis - By Type
9.1.4 North America Silver Paste Market Forecasts and Analysis - By Application
9.1.5 North America Silver Paste Market Forecasts and Analysis - By Countries
9.1.5.1 United States Silver Paste Market
9.1.5.1.1 United States Silver Paste Market by Type
9.1.5.1.2 United States Silver Paste Market by Application
9.1.5.2 Canada Silver Paste Market
9.1.5.2.1 Canada Silver Paste Market by Type
9.1.5.2.2 Canada Silver Paste Market by Application
9.1.5.3 Mexico Silver Paste Market
9.1.5.3.1 Mexico Silver Paste Market by Type
9.1.5.3.2 Mexico Silver Paste Market by Application
9.2. EUROPE
9.2.1 Europe Silver Paste Market Overview
9.2.2 Europe Silver Paste Market Forecasts and Analysis
9.2.3 Europe Silver Paste Market Forecasts and Analysis - By Type
9.2.4 Europe Silver Paste Market Forecasts and Analysis - By Application
9.2.5 Europe Silver Paste Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Silver Paste Market
9.2.5.1.1 Germany Silver Paste Market by Type
9.2.5.1.2 Germany Silver Paste Market by Application
9.2.5.2 France Silver Paste Market
9.2.5.2.1 France Silver Paste Market by Type
9.2.5.2.2 France Silver Paste Market by Application
9.2.5.3 Italy Silver Paste Market
9.2.5.3.1 Italy Silver Paste Market by Type
9.2.5.3.2 Italy Silver Paste Market by Application
9.2.5.4 United Kingdom Silver Paste Market
9.2.5.4.1 United Kingdom Silver Paste Market by Type
9.2.5.4.2 United Kingdom Silver Paste Market by Application
9.2.5.5 Russia Silver Paste Market
9.2.5.5.1 Russia Silver Paste Market by Type
9.2.5.5.2 Russia Silver Paste Market by Application
9.2.5.6 Rest of Europe Silver Paste Market
9.2.5.6.1 Rest of Europe Silver Paste Market by Type
9.2.5.6.2 Rest of Europe Silver Paste Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Silver Paste Market Overview
9.3.2 Asia-Pacific Silver Paste Market Forecasts and Analysis
9.3.3 Asia-Pacific Silver Paste Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Silver Paste Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Silver Paste Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Silver Paste Market
9.3.5.1.1 Australia Silver Paste Market by Type
9.3.5.1.2 Australia Silver Paste Market by Application
9.3.5.2 China Silver Paste Market
9.3.5.2.1 China Silver Paste Market by Type
9.3.5.2.2 China Silver Paste Market by Application
9.3.5.3 India Silver Paste Market
9.3.5.3.1 India Silver Paste Market by Type
9.3.5.3.2 India Silver Paste Market by Application
9.3.5.4 Japan Silver Paste Market
9.3.5.4.1 Japan Silver Paste Market by Type
9.3.5.4.2 Japan Silver Paste Market by Application
9.3.5.5 South Korea Silver Paste Market
9.3.5.5.1 South Korea Silver Paste Market by Type
9.3.5.5.2 South Korea Silver Paste Market by Application
9.3.5.6 Rest of Asia-Pacific Silver Paste Market
9.3.5.6.1 Rest of Asia-Pacific Silver Paste Market by Type
9.3.5.6.2 Rest of Asia-Pacific Silver Paste Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Silver Paste Market Overview
9.4.2 Middle East and Africa Silver Paste Market Forecasts and Analysis
9.4.3 Middle East and Africa Silver Paste Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Silver Paste Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Silver Paste Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Silver Paste Market
9.4.5.1.1 South Africa Silver Paste Market by Type
9.4.5.1.2 South Africa Silver Paste Market by Application
9.4.5.2 Saudi Arabia Silver Paste Market
9.4.5.2.1 Saudi Arabia Silver Paste Market by Type
9.4.5.2.2 Saudi Arabia Silver Paste Market by Application
9.4.5.3 U.A.E Silver Paste Market
9.4.5.3.1 U.A.E Silver Paste Market by Type
9.4.5.3.2 U.A.E Silver Paste Market by Application
9.4.5.4 Rest of Middle East and Africa Silver Paste Market
9.4.5.4.1 Rest of Middle East and Africa Silver Paste Market by Type
9.4.5.4.2 Rest of Middle East and Africa Silver Paste Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Silver Paste Market Overview
9.5.2 South and Central America Silver Paste Market Forecasts and Analysis
9.5.3 South and Central America Silver Paste Market Forecasts and Analysis - By Type
9.5.4 South and Central America Silver Paste Market Forecasts and Analysis - By Application
9.5.5 South and Central America Silver Paste Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Silver Paste Market
9.5.5.1.1 Brazil Silver Paste Market by Type
9.5.5.1.2 Brazil Silver Paste Market by Application
9.5.5.2 Argentina Silver Paste Market
9.5.5.2.1 Argentina Silver Paste Market by Type
9.5.5.2.2 Argentina Silver Paste Market by Application
9.5.5.3 Rest of South and Central America Silver Paste Market
9.5.5.3.1 Rest of South and Central America Silver Paste Market by Type
9.5.5.3.2 Rest of South and Central America Silver Paste Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SILVER PASTE MARKET, KEY COMPANY PROFILES
11.1. HERAEUS HOLDING
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. FERRO CORPORATION
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. FUKUDA METAL FOIL AND POWDER COMPANY
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. SAMSUNG SDI CO., LTD.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. DUPONT
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. TARGRAY TECHNOLOGY INTERNATIONAL INC
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. 3M
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. JOHNSON MATTHEY
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. CEMENT MATERIAL INC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TECHINSTRO
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Heraeus Holding
2. Ferro Corporation
3. Fukuda Metal Foil and Powder Company
4. Samsung SDI Co., Ltd.
5. DuPont
6. Targray Technology International Inc
7. 3M
8. Johnson Matthey
9. Cement Material Inc
10. Techinstro
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
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Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.