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IntroductionGlobal Solar Cell Metal Paste Market
The whole world is looking forward to an alternative renewable energy source, and solar energy has the potential to fulfill the energy need. The common people welcome any process which can increase efficient energy production. Solar cell paste printed on the surface of solar cells which helps to collect the produced electricity and transport it out. The paste can be divided into rear side silver paste, front side solver paste and aluminum paste. The front paste collects the electric energy produced by cell while the rear paste helps to transmit the energy to the system. The paste improves the efficiency of the solar cell. This paste contributes around 30-40% of the total manufacturing cost of a solar cell.
According to the forecast, China is leading the Solar Cell Metal Paste Market in terms of production accounting 62% of the total global production. China is leading the consumer market too, responsible for 55% of global consumption. The growing concern over environmental protection is ensuring the market growth in the forecast period. The industry growth is helping to create a lot of job opportunity for the youth in the region. As a result, the government of developing countries like India and China is promoting investment and the use of solar panel to their respective citizens.
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Market Segmentation of Solar Cell Metal Paste Industry
The Solar Cell Metal Paste Market can be segmented into Types, Application, and Regions.
Based on Type, the market can be segmented into Front Side Ag Paste, Rear Side Ag Paste, Rear Side Al Paste, and others.
Front side silver paste is in great demand due to high efficiency and expected to lead the market in terms of market share.
By Application, the Solar Cell Metal Paste Market can be segmented into Monocrystalline Silicon Solar Cell, Multicrystalline Silicon Solar Cell, and others.
Monocrystalline Silicon Solar Cell is anticipated to lead the industry during the forecast period.
Geographical Market Segmentation of Solar Cell Metal Paste Industry
The geographical market segmentation of Solar Cell Metal Paste Market includes different countries and regions. They are North America, the USA, Mexico, Canada, Latin America, Brazil, Latin America, Europe, Spain, Italy, Germany, France, the UK, Rest of Europe, Asia Pacific, Japan, India, ASEAN, China, Rest of Asia Pacific, the Middle East and African region, GCC, South Africa and Rest of the Middle East and African countries.
The North American region shows a satisfactory growth rate owing to the use of advanced technology. The growing adaptation of solar cell metal paste in Europe ensures the market to grow. Due to the presence of developing and energy-hungry countries like China and India, the Indo Pacific is expected to show a solid growth rate.
Recent News from Solar Cell Metal Paste Industry
The Indian government-owned Bharat Electronics Limited is planning to facilitate mass production of monocrystalline solar cells in India. The company seeks bidders for the procurement of nearly eight lakhs of the solar cell in the next couple of years. All the solar cells and parts like metal paste will be manufactured within the country under the Make in India program.
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Name: Norah Trent
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Organization: WISE GUY RESEARCH CONSULTANTS PVT LTD
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