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
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Browse Research PR: http://www.transparencymarketresearch.com/pressrelease/ag-paste-market.htm
Browse Other Related Market Research Reports:
- Solder Paste Market: http://www.transparencymarketresearch.com/solder-paste-market.html
- EMI Shielding Materials Market: http://www.transparencymarketresearch.com/emi-shielding-materials-market.html
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.
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SOURCE Transparency Market Research