Global Ag Paste Market Expected to Reach US$ 4.5 Bn by 2024: Demand for Photovoltaic Cells Bodes Well, Report by TMR

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Transparency Market Research

14 Feb, 2017, 13:30 GMT

ALBANY, New York, February 14, 2017 /PRNewswire/ --

Transparency Market Research has published a new market report titled "Ag Paste Market by Application Type (Thermal Interface Material, EMI Shielding Material) - Global Industry Analysis Size Share Growth Trends and Forecast 2016-2024". According to the report, the Ag paste market was valued at US$ 1.8 Bn in 2015 and is anticipated to reach US$ 4.5 Bn by 2024, expanding at a CAGR of 10.0% between 2016 and 2024.

Transparency Market Research observes that the global Ag paste market is moderately fragmented. The market currently faces threat from cheaper substitutes that are being developed by competitors. However, if players can cater to the soaring demand for Ag paste in the solar industry, they can overcome the hurdles to book whopping profits. Currently, the players are focused on expanding their geographical reach by making long-term supply agreements with buyers. The leading players in the global market are Johnson Matthey, Metalor, Dupont, and Heraeus Holding.

Asia Pacific to Dominate Global Market as it Acquires 56.8% Share by 2024 

In terms of geography, the global Ag paste market is segmented into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. The report points out that Asia Pacific dominated the global market 2015. The demand for Ag paste in Asia Pacific will be attributable to the emergence of the solar industry. The subsequent demand for photovoltaic solar cells is expected have a positive reflection on the overall market.

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The application of Ag paste is seen in thermal interface material and EMI shielding. Of these, the thermal interface material segment is projected to dominate the global market throughout the forecast period. By the end of the forecast period, this segment is estimated to hold a share of 76.7% in the overall market. The mounting demand for photovoltaic solar cells in the developing countries is expected to boost the thermal interface material segment.

Demand for Renewable Energy Contributes to Soaring Revenue of Global Market 

Nations across the globe are striving to find sustainable energy solutions to reduce the impact of global warming by cutting down on carbon emissions. This has triggered a mammoth demand for renewable energy around the world, thereby fuelling the need for solar energy. All of these factors put together have led to the emergence of the solar industry and in turn, the demand for photovoltaic (PV) cells. As solar capacities increase, the demand PV cells will also spike, which, in turn, will augment the uptake of Ag paste. The report also states the burgeoning automobile sector is likely to increase the demand for Ag paste as it will be extensively used in in printed circuits of defogging systems, antennae, and alarm circuits. The increasing expenditure on electrical and electronic appliances is also expected to ensure rising demand for Ag paste in the near future.

Availability of Cheaper Alternatives to Restrain Growth of Overall Market 

The global Ag paste market is expected to face a few challenges such as availability of cheaper substitutes. The cheaper alternatives include carbon nano materials, aluminum, and copper. The market is also likely to be restrained by varying purity of silver that is used for manufacturing Ag paste. Furthermore, the volatile prices of silver are also likely to create a negative impact on the global market in the near future.

This report segments the global Ag paste market as follows:

Ag Paste Market - Application Analysis 

  • Thermal Interface Material
  • EMI Shielding

Ag paste Market - Regional Analysis 

North America 

  • U.S.
  • Rest of North America

Europe 

  • U.K.
  • Spain
  • France      
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific 

  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific

Latin America 

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA) 

  • GCC
  • South Africa
  • Rest of MEA

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About TMR 

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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SOURCE Transparency Market Research