Global Photovoltaic Silver Paste Market Growth 2025-2031
Description
The global Photovoltaic Silver Paste market size is predicted to grow from US$ 3098 million in 2025 to US$ 3409 million in 2031; it is expected to grow at a CAGR of 1.6% from 2025 to 2031.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
Photovoltaic Silver Paste is a type of electronic conductive paste. Generally, electronic conductive pastes primarily consist of a conductive phase, a binder phase, and a liquid carrier, which are mixed and rolled into a viscous paste. Since silver is the metal with the best conductivity and high chemical stability, about 80% of the electronic pastes on the market use silver powder as the conductive phase.
Photovoltaic Silver Paste is mainly a mixture of high-purity silver powder (conductive phase), glass oxides (binder phase), and organic resins/solvents (organic carrier), which is homogenized through stirring and triple-roll milling to form a uniform paste. In terms of cost composition, silver powder accounts for over 95% of the total cost, so the price of silver paste is highly correlated with that of silver powder.
The key players in the global PV silver paste market include Changzhou Fusion New Material Co., Ltd., Heraeus, and DK Electronic Materials (Wuxi) Co., Ltd. The top three manufacturers hold approximately 68% of the global market share. China is the largest production region, accounting for about 92% of the output. In terms of product types, front-side silver paste is the largest segment, occupying around 85% of the market, while PERC P-type solar cells dominate the downstream applications with a 78% share.
The PV silver paste market is primarily driven by the rapid expansion and technological advancements in the solar industry. Firstly, the global energy transition has accelerated the growth of PV installations, with carbon neutrality policies (such as the EU's "Fit for 55" and China's "dual-carbon" goals) boosting demand for high-efficiency solar cells, directly increasing silver paste consumption. Secondly, the rising adoption of N-type cells (e.g., TOPCon, HJT), which require more silver paste than PERC (1.5x for TOPCon, 2x for HJT), further expands market demand. Additionally, silver paste technology innovations (e.g., low-temperature paste for HJT, silver-coated copper for cost reduction) are driving product upgrades, while supply chain localization (Chinese manufacturers hold over 50% market share) is reshaping the competitive landscape.
The market is expected to witness parallel trends of "cost reduction & efficiency improvement" and "technology diversification." On one hand, cost pressures are accelerating the development of low-silver solutions (e.g., silver-coated copper, copper plating) and optimized grid designs (ultra-fine line printing, multi-busbar technology) to reduce silver consumption. On the other hand, the diversification of N-type cell technologies (TOPCon mainstreaming, HJT industrialization breakthroughs) will drive demand for specialized pastes, such as low-temperature pastes and highly conductive nano-silver materials. Furthermore, supply chain localization (China's dominance) and sustainable production (silver recycling) will become critical industry topics, while silver price volatility may hasten the commercialization of alternative technologies.
LP Information, Inc. (LPI) ' newest research report, the “Photovoltaic Silver Paste Industry Forecast” looks at past sales and reviews total world Photovoltaic Silver Paste sales in 2024, providing a comprehensive analysis by region and market sector of projected Photovoltaic Silver Paste sales for 2025 through 2031. With Photovoltaic Silver Paste sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Photovoltaic Silver Paste industry.
This Insight Report provides a comprehensive analysis of the global Photovoltaic Silver Paste landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Photovoltaic Silver Paste portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Photovoltaic Silver Paste market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Photovoltaic Silver Paste and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Photovoltaic Silver Paste.
This report presents a comprehensive overview, market shares, and growth opportunities of Photovoltaic Silver Paste market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Front Side Silver Paste
Back Side Silver Paste
Segmentation by Application:
PERC Solar Cell
BSF Solar Cell
TOPCon Solar Cell
HJT Solar Cell
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Changzhou Fusion New Material
Heraeus
DK Electronic Materials
Good-Ark
Giga Solar
Dupont
Soltrium
Wuhan Youleguang
Monocrystal
Rutech
Shanghai Transcom Scientific
Daejoo
Xi’an Chuanglian
Leed
Key Questions Addressed in this Report
What is the 10-year outlook for the global Photovoltaic Silver Paste market?
What factors are driving Photovoltaic Silver Paste market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Photovoltaic Silver Paste market opportunities vary by end market size?
How does Photovoltaic Silver Paste break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
Photovoltaic Silver Paste is a type of electronic conductive paste. Generally, electronic conductive pastes primarily consist of a conductive phase, a binder phase, and a liquid carrier, which are mixed and rolled into a viscous paste. Since silver is the metal with the best conductivity and high chemical stability, about 80% of the electronic pastes on the market use silver powder as the conductive phase.
Photovoltaic Silver Paste is mainly a mixture of high-purity silver powder (conductive phase), glass oxides (binder phase), and organic resins/solvents (organic carrier), which is homogenized through stirring and triple-roll milling to form a uniform paste. In terms of cost composition, silver powder accounts for over 95% of the total cost, so the price of silver paste is highly correlated with that of silver powder.
The key players in the global PV silver paste market include Changzhou Fusion New Material Co., Ltd., Heraeus, and DK Electronic Materials (Wuxi) Co., Ltd. The top three manufacturers hold approximately 68% of the global market share. China is the largest production region, accounting for about 92% of the output. In terms of product types, front-side silver paste is the largest segment, occupying around 85% of the market, while PERC P-type solar cells dominate the downstream applications with a 78% share.
The PV silver paste market is primarily driven by the rapid expansion and technological advancements in the solar industry. Firstly, the global energy transition has accelerated the growth of PV installations, with carbon neutrality policies (such as the EU's "Fit for 55" and China's "dual-carbon" goals) boosting demand for high-efficiency solar cells, directly increasing silver paste consumption. Secondly, the rising adoption of N-type cells (e.g., TOPCon, HJT), which require more silver paste than PERC (1.5x for TOPCon, 2x for HJT), further expands market demand. Additionally, silver paste technology innovations (e.g., low-temperature paste for HJT, silver-coated copper for cost reduction) are driving product upgrades, while supply chain localization (Chinese manufacturers hold over 50% market share) is reshaping the competitive landscape.
The market is expected to witness parallel trends of "cost reduction & efficiency improvement" and "technology diversification." On one hand, cost pressures are accelerating the development of low-silver solutions (e.g., silver-coated copper, copper plating) and optimized grid designs (ultra-fine line printing, multi-busbar technology) to reduce silver consumption. On the other hand, the diversification of N-type cell technologies (TOPCon mainstreaming, HJT industrialization breakthroughs) will drive demand for specialized pastes, such as low-temperature pastes and highly conductive nano-silver materials. Furthermore, supply chain localization (China's dominance) and sustainable production (silver recycling) will become critical industry topics, while silver price volatility may hasten the commercialization of alternative technologies.
LP Information, Inc. (LPI) ' newest research report, the “Photovoltaic Silver Paste Industry Forecast” looks at past sales and reviews total world Photovoltaic Silver Paste sales in 2024, providing a comprehensive analysis by region and market sector of projected Photovoltaic Silver Paste sales for 2025 through 2031. With Photovoltaic Silver Paste sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Photovoltaic Silver Paste industry.
This Insight Report provides a comprehensive analysis of the global Photovoltaic Silver Paste landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Photovoltaic Silver Paste portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Photovoltaic Silver Paste market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Photovoltaic Silver Paste and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Photovoltaic Silver Paste.
This report presents a comprehensive overview, market shares, and growth opportunities of Photovoltaic Silver Paste market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Front Side Silver Paste
Back Side Silver Paste
Segmentation by Application:
PERC Solar Cell
BSF Solar Cell
TOPCon Solar Cell
HJT Solar Cell
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Changzhou Fusion New Material
Heraeus
DK Electronic Materials
Good-Ark
Giga Solar
Dupont
Soltrium
Wuhan Youleguang
Monocrystal
Rutech
Shanghai Transcom Scientific
Daejoo
Xi’an Chuanglian
Leed
Key Questions Addressed in this Report
What is the 10-year outlook for the global Photovoltaic Silver Paste market?
What factors are driving Photovoltaic Silver Paste market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Photovoltaic Silver Paste market opportunities vary by end market size?
How does Photovoltaic Silver Paste break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
111 Pages
- *This is a tentative TOC and the final deliverable is subject to change.*
- 1 Scope of the Report
- 2 Executive Summary
- 3 Global by Company
- 4 World Historic Review for Photovoltaic Silver Paste by Geographic Region
- 5 Americas
- 6 APAC
- 7 Europe
- 8 Middle East & Africa
- 9 Market Drivers, Challenges and Trends
- 10 Manufacturing Cost Structure Analysis
- 11 Marketing, Distributors and Customer
- 12 World Forecast Review for Photovoltaic Silver Paste by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
Pricing
Currency Rates
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