Solar Cell Paste Market 2017 Analysis for Global and China

Solar cell paste, an electronic paste for the production of crystalline silicon solar cell, consists of frontside Ag paste, backside Al paste, and backside Ag paste, and accounts for about 20% of solar cell costs, serving as key fundamental material in photovoltaic industry.

Being a kind of clean, stable and renewable energy, solar energy is one of the best approaches to solve energy shortage and environmental pollution. Against the background of global energy conservation and emission reduction, governments around the world have enacted a host of incentive policies to promote the development of PV industry, driving rapid growth in demand for solar cell. In 2014, global cumulative installed PV capacity approximated 184.6GW, registering a high CAGR of 45% over the past five years.

The consumption of solar cell paste in solar cell is relatively fixed, and growth in solar cell output directly spurs demand for solar cell paste. In 2014, global demand for solar cell paste reached around 18,000 tons, supplied mainly by U.S. DuPont, German Heraeus, and Taiwanese Giga Solar Materials, which took a combined market share of roughly 90%.

China is a nation with a large PV industry, with solar module output standing at about 30GW in 2014, making up more than 60% of the global total, creating theoretical solar cell paste demand of over 11,000 tons. However, as some companies directly imported solar cell or had Taiwanese firms manufacture solar cell, China’s actual demand for solar cell paste is lower than theoretical amount.

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China started late in solar cell paste industry, technologically lagging far behind large international companies. At present, among all solar cell paste products in China, localization rate of Al paste is as high as 90%, with Guangzhou Ruxing Technology Development Co., Ltd occupying over 50% of the domestic market; Ag paste relies...