Research Nester has released a report titled “Solar Cell Paste Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the solar cell paste market in terms of market segmentation by type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The solar cell paste market is segmented by application into monocrystalline and polycrystalline solar cell, out of which, the polycrystalline solar cell segment is anticipated to hold largest market share on account of lower cost of polycrystalline solar cells and their lower efficiency rates, as compared to other solar cells. Implementation of solar cell pastes helps to increase the efficiency rates in polycrystalline solar cells, which is anticipate to fuel the growth of the market in the segment.
The solar cell paste market is anticipated to record a significant CAGR during the forecast period, i.e. 2019-2027. Growing global solar cell market coupled with the increasing need for generation of electricity from solar PV, to meet the goals of the Sustainable Development Scenario (SDS) of the International Energy Agency (IEA) is estimated to promote the demand for global solar cell paste market throughout the forecast period. The IEA stated in one of their statistical report that solar PV generation increased 31% in the year 2018 from the year 2017. Additionally, it represented the largest absolute generation growth of around +136TWh of all renewable technologies.
Regionally, the solar cell paste market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia-Pacific is expected to have largest market share on the back of presence of nations, such as China, who have highest solar electricity production capacity, which is anticipated to raise the demand for consumption of more solar panels in the region. Additionally, presence of numerous solar panel manufacturers is also anticipated to boost the growth of the market in the region. The statistics by U.S. Energy Information Administration (EIA), stated that China had the highest solar electricity generation in the world in the year 2016, where it generated total solar electricity of 75.3 billion kilowatthours.
Escalating Demand For Clean And Environmental Friendly Energy Sources
The goal 7 of the United Nations (UN) Sustainable Development Goals, envisioned for 2030, states to ensure access to affordable, reliable, sustainable and modern energy for all.
There is a growing concern amongst nations around the globe for the depletion of natural resources. Generation of electricity from traditional resources, such as oil, coal and others, and the exploitation of limited natural resources, is contributing to the global awareness towards shifting trends for clean and environmental friendly energy sources, such as, hydroelectricity and solar electricity.
Owing to such factors, nations across the globe are focusing towards increasing the generation of solar electricity by expanding existing solar power grids, deployment of new solar power grids, and by providing subsidy for implementation of solar power panels to produce electricity, and thereby meet the SDS goals envisioned by IEA.
Increasing investments in generation of solar power electricity by nations is anticipated to raise the demand for generation of more number of solar panels by solar panel manufacturers, which is also anticipated to raise the demand for solar cell pastes market over the forecast period.
Additionally, rising need for increasing the efficiency of photovoltaic cells, so as to increase the power generation capacity of solar power grids, is also estimated to boost the growth of the market.
However, concerns for high manufacturing costs of solar pastes, which is anticipated to raise the product cost of solar panels, and thereby affect the sales of both solar panels and solar cell pastes, is expected to operate as key restraints to the growth of the solar cell paste market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the solar cell paste market, which includes company profiling of DuPont (NYSE: DD), Heraeus Holding, NORITAKE CO., LIMITED (TYO: 5331), Giga Solar Materials Corp., NAMICS, Targray Technology International Inc., Daejoo Electronic Materials Co. Ltd. (KOSDAQ: 078600), SAMSUNG SDI Co. Ltd. (KRX: 006400), ANP Co. Ltd., and TOYO Aluminium K.K. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the solar cell paste market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.