Silver Inks & Pastes Market - Forecast(2024 - 2030)

Silver Inks & Pastes Market Overview

The Silver Inks & Pastes Market size is estimated to reach US$3.9 billion by 2027 after growing at a CAGR of around 4.2% from 2022 to 2027. The Silver Inks & Pastes are an excellent conductor of electricity. The silver ink comprises of conductive material, thermoplastic binder such as polyvinyl pyrrolidone, and solvent such as methyl ethyl ketone, formic acid, ethyl alcohol, and sodium borohydride. The Silver Inks & Pastes have major applications in printed electronic devices, screen printing, RFID, solar cells, and others. The high demand of Silver Inks & Pastes for printing application in the electronics sector is driving the Silver Inks & Pastes Market. Furthermore, the increasing application in the automotive, photovoltaics, and other end-use industries will offer major growth in the Silver Inks & Pastes industry during the forecast period.

Silver Inks & Pastes Market COVID-19 Impact

The Silver Inks & Pastes Market was affected by the covid-19 outbreak. The disruptions in production, disrupted supply chain, shipments delay, and others led to major impact in the market. The Silver Inks & Pastes have growing application in the electronics industry. The electronics sector faced major disruptions and logistics disturbances, along with delay in distribution and manufacturing activities. Moreover, the shortages in raw material for production and shutdown led to disrupted supply and declining demand in the initial pandemic phase. According to the International Data Corporation (IDC), the spending on PCs saw a decline of 7.9%, 14.6% decline in tablets, and 14.0% decline in mobile phones in US for April-May 2020. The declining demand in the electronics sector led to a major fall in the application of Silver Inks & Pastes in PCBs, RFID, printing, and others. Thus, the Silver Inks & Pastes Market experienced shutdown and restricted growth in the pandemic

Report Coverage

The “Silver Inks & Pastes Market Report: – Forecast (2022-2027)” by IndustryARC covers an in-depth analysis of the following segments of the Silver Inks & Pastes industry.

Key Takeaways

• The Silver Inks & Pastes Market size will grow due to rising demand in applications such as printed circuit boards, flexible circuit, PV panels, biosensors, e-textiles, and others during the forecast period.
• The Asia Pacific region held the largest market share in the Silver Inks & Pastes industry due to adoption of latest technologies and establishing production base for Silver Inks & Pastes, along with flourishing electronics and photovoltaics sector.
• The Silver Inks & Pastes have rising application in the printed circuit boards (PCB) owing to superior thermal and electrical conductivity, lightweight and economical costs features.

Figure: Asia Pacific Silver Inks & Pastes Market Revenue, 2021-2027 (US$ Billion)

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Silver Inks & Pastes Market Segment Analysis – By Application

By application, the printed circuit board (PCB) segment accounted for the largest share in the Silver Inks & Pastes Market and is expected to grow with a CAGR of around 4.5% during the forecast period. The Silver Inks & Pastes have major application in the printed circuit boards owing to high electrical conductivity, thermal conductivity, lightweight, and strong adhesion properties. The high demand of printed circuit boards in electronics such as smartphone, touch screens, computers, TV, and others is propelling the growth in the market. The silver pastes and inks which comprises of solvents such as ethyl alcohol, formic acid, and others, binder such as polyvinyl pyrrolidone, and others are used in PCBs fabrication and provides economical costs in the circuit printing in various electronics devices. According to the Institute for Printed Circuits (IPC), the total North American PCB shipments showed a rise of 12.8% in February 2022 compared to the same month in the previous year. Furthermore, the growing production in printed circuit boards is booting the demand of Silver Inks & Pastes in the market. Thus, with rising application in PCB for electronic sector, the Silver Inks & Pastes industry will grow in the coming years.

Silver Inks & Pastes Market Segment Analysis – By End-Use Industry

By end-use industry, the electronics segment held the largest Silver Inks & Pastes Market share and is expected to grow with a CAGR of 3.7% during the forecast period. The Silver Inks & Pastes have major application in the electronic industry for various consumer electronic devices, printed electronics, and other electrical components. This is due to its superior properties such as electrical and thermal conductivity, lightweight, and strong adhesion. Furthermore, rise in production of consumer electronics owing to increasing demand of computer, smartphone, and other devices during the work from home culture in pandemic is propelling the growth in the Silver Inks & Pastes Market. According to the Consumer Technology Association (CTA), the smartphones shipment generated revenue of USD 61 billion and smart home appliances generated USD 15 billion in 2021 in the US. Thus, with growing demand in consumer electronics, printed electronic, and others in the electronics industry, the global silver ink and pastes market will experience major growth during the forecast period.

Silver Inks & Pastes Market Segment Analysis – By Geography

By geography, Asia Pacific is the fastest-growing region in the Silver Inks & Pastes market and is projected to grow with a CAGR of 5.2% during the forecast period. The growth of Silver Inks & Pastes industry in this region is influenced by its high demand in photovoltaics, electronics, automotive, and end-use industries. The Silver Inks & Pastes are used in solar cells, PV panels, and others. Moreover, the rapid growth in the photovoltaics and solar power technology in countries such as India, China, and others is driving the market. According to the International Renewable Energy Agency (IRENA), the total solar capacity saw a major expansion in Asia with 78 GW in 2020, with major capacity increase in the China with 49 GW. Furthermore, increasing production in electronics and automotive such as for smartphones, RFID tags, 3D printing, and others is boosting the growth prospects for Silver Inks & Pastes Market in the APAC region. Thus, the Silver Inks & Pastes Market is expected to grow rapidly during the forecast period.

Silver Inks & Pastes Market Drivers

Growing demand in the photovoltaics application

The Silver Inks & Pastes have rising demand in the photovoltaics sector. The silver pastes are used in solar cells, printing, PV panels, and others owing to superior features such as high thermal and electrical conductivity, stability, and adhesion. Furthermore, the rising emphasis on solar power and photovoltaics technologies across the globe is driving the Silver Inks & Pastes Market. According to the International Energy Agency (IEA), the power generation from the solar PV showed a rise of 23% in 2020 with a record of 156 TWh. Thus, the growing demand and production in the photovoltaics sector is offering high growth in the Silver Inks & Pastes Market.

Increasing demand from electronics sector

The demand of Silver Inks & Pastes in the electronics sector for flexible and printed electronic sector is growing. The Silver Inks & Pastes are composed of binder such as polyvinyl pyrrolidone, and solvents such as methyl ethyl ketone, formic acid, ethyl alcohol, sodium borohydride, and others. The silver pastes and inks offer high electrical conductivity in circuit printing application. Furthermore, the adoption of flexible electronics and printed electronics is driving the Silver Inks & Pastes Market. According to the Indian Brand Equity Foundation (IBEF), the sales of consumer electronics in India saw an increase of 8% in October 2020. Thus, the development and rising demand of silver pastes and inks in electronics is offering major growth opportunities in the market.

Silver Inks & Pastes Market Challenges

Volatility in the silver prices

The Silver Inks & Pastes have growing application across various end-use industries. However, the Silver Inks & Pastes Market faces major challenge due to volatile prices of silver, which is used in making pastes and inks. The fluctuation in the prices affects the production and consumption of the conductive inks and pastes. For instances, the British Broadcasting Corporation (BBC) on February 2021 reported an increase in silver prices by 10% reaching a 5- month high of USD 950 per kg. Thus, with fluctuation in silver prices, the cost of inks and pastes are influenced, thereby leading to a growth slowdown or production challenge in the market.

Silver Inks & Pastes Industry Outlook

The Silver Inks & Pastes top 10 companies include:

1. Vorbeck Materials Corporation
2. Heraeus Holding GmbH
3. Johnson Matthey plc
4. Sun Chemical Corporation
5. Applied Ink Solution
6. DuPont
7. Henkel AG
8. NovaCentrix
9. Intrinsiq Materials
10. Creative Materials Inc.

Recent Developments

• In August 2021, the DuPont sold its silver paste business, Solamet to the Chinese based silver paste manufacturing firm, Jiangsu Suote Electronic Materials. The acquainted of Solamet will provide industrial resources and capital and innovation in metal paste products.
• ·In June 2021, the Heraeus photovoltaics introduced various advanced metallization pastes, which included SOL 8 Series silver paste with the aim to offer top-notch performance and efficiency.
• In May 2021, the DuPont launched the DuPont DA510 advanced pressure sintering silver paste, which is designed for the semiconductor die attach and offers enhanced reliability and productivity in power module assembly process.

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