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Global Solar Cell Metal Paste Market to Top USD 8.50 Billion by 2026
Global Solar Cell Metal Paste Market
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Solar cell metal paste is advanced solar cell materials that are printed on the surface of the solar cells. This paste is used to form a pattern of grid lines on the solar cells and transport electricity produced by solar cells. Solar cell metal paste or photovoltaic (PV) metallization pastes significantly increases the efficiency of the and power output of the solar cells. The material used for making the metal paste is usually silver or aluminum. The metal paste is printed on the solar cell in a single print or double print format. Double print technology delivers more efficiency of a solar cell as compared to single print technology.
Rising solar cell production is anticipated to drive the market. The global photovoltaic cell market is expected to reach a valuation of 4.7 Billion USD in 2025 from 1.9 Billion USD in 2015. Annual market growth of 10% is expected in the global photovoltaic cell market. Solar cell metal paste delivers noteworthy performance to cost ratio and currently, there are no substitutes in the market. Hence the market is expected to grow along with the global photovoltaic cell market. However, the metal paste made is usually made from silver and due to the high price of silver the production cost of solar cell metal paste increases. Nonetheless, manufacturers are investing significantly in the R&D of solar cell metal paste to reduce the amount of silver used by developing technology to produce fine prints of metal paste on the solar cell.
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The global solar cell metal paste market is divided into segments based on type and application. The solar cell metal paste can be used on the front or rear side of the solar cell. Silver paste is used usually on the front side of the solar cell to form a grid network. The rear side is of the solar cell is printed with silver or aluminum paste. Silver has good electrical conductivity and hence is used majorly for the solar cell metal paste. The solar metal paste is mainly applied to monocrystalline and multi-crystalline solar cells. The monocrystalline solar cell is the oldest and most developed among all types of solar cells. The multi-crystalline solar cell is a comparatively new technology and was previously thought to be inferior to technology. However, due to its low cost of production along with slightly low efficiency than the monocrystalline solar cell, it is dominant technology amongst residential use.
North America and Europe have the highest concentration of the world's large enterprises. However, companies from China are also penetrating the market. China has its presence in the supply chain of not only tier 2 and tier 3 companies, but also in tier 1 companies. Companies from the regions apart from North America and Europe are also investing heavily in R&D of solar cell metal paste.
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The major players of solar cell metal paste market are DuPont, Samsung SDI, Toyo Aluminium K.K., Noritake, DongjinSemichem, AG PRO, Daejoo Electronic Materials, Hoyi Technology, LEED Electronic Ink, Heraeus, Giga Solar, Monocrystal, Namics, EXOJET Technology Corporation, TTMC, Rutech, Tehsun, Xi'an Hongxing Electronic Paste, and Others.
This report segments the solar cell metal paste market as follows:
Global Solar Cell Metal Paste Market: By Type Segmentation Analysis
Front Side Ag Paste
Rear Side Ag Paste
Rear Side Al Paste
Others
Global Solar Cell Metal Paste Market: By Application Segmentation Analysis
Multicrystalline Silicon Solar Cell
Monocrystalline Silicon Solar Cell
Others
Global Solar Cell Metal Paste Market: Regional Segmentation Analysis
North America
The U.S.
Canada
Europe
Germany
The UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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