Global Ag Paste Market to Reach $3.5 Billion by 2026

Silver is a precious white metal that can be transformed into various forms including paste. Silver paste has applications in numerous industries, with energy and electronics being the key sectors. With lower prices and relatively lesser price volatility, silver is one of the most popular materials for electrical and thermal conductivity. As such, silver finds extensive usage in automotive, electrical & electronics, and photovoltaic (PV) industries. The electronics industry is by far the largest consumer of Ag paste, while the solar cells segment is expected to offer the highest growth opportunities owing to the increasing focus on renewable energy across the world. The increasing focus on renewable energy is driving the market for PV cells, which in turn is driving the market for Ag paste. The excellent thermal conductivity properties of silver paste make it ideal for usage in the electronics industry for the manufacture of various electronic components such as print circuit boards, conductors, and resistors among others.

Amid the COVID-19 crisis, the global market for Ag Paste estimated at US$2.2 Billion in the year 2020, is projected to reach a revised size of US$3.5 Billion by 2026, growing at a CAGR of 8.2% over the analysis period. Thermal Interface Material, one of the segments analyzed in the report, is projected to grow at a 10.4% CAGR to reach US$2.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the EMI Shielding segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 36% share of the global Ag Paste market. Thermal interface materials are the most popular as they find extensive application in the electronics, and solar cells industries.

The U.S. Market is Estimated at $458.2 Million in 2021, While China is Forecast to Reach $673.6 Million by 2026

The Ag Paste market in the U.S. is estimated at US$458.2Million in the year 2021. The country currently accounts for a 19.76% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$673.6 Million in the year 2026 trailing a CAGR of 10.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.9% and 7.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.4% CAGR while Rest of European market (as defined in the study) will reach US$745.7 Million by the end of the analysis period. Asia-Pacific region dominates market growth fueled by large concentration of electronic components and solar cells industries. The increasing industrialization in the region, coupled with investments in renewable energy, as well as the large automotive manufacturing base, are expected to offer significant growth opportunities in the region. Europe, with its focus on renewable energy, is also expected to offer significant growth opportunities for silver paste.