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Bullion World | Issue 10 | February 2022

                                                                               In the back-side, silver paste
                                                                               industry, Dupont, Giga Solar,
                                                                               and Heraeus are the top three
                                                                               manufacturers. Other key players
                                                                               in this segment are Daejoo,
                                                                               Monocrystal, AgPro, Dongjin,
                                                                               Cermet, Exojet, Wuhan Youleguang,
                                                                               EGing, Rutech, Xian Chuanglian and
                                                                               Leed.


                                                                               Solar energy potential in India
                                                                               •   National Solar Mission,
                                             Key application/uses of silver
                                                                                  launched on 11th January 2010,
                                             paste
                                                                                  targeted the development and
                SILVER                       •   Renewable industry- Solar        deployment of 20 GW solar
                                                                                  power by 2022. The target
                                                power generation (the silver      was later revised on 17/6/2015
                 STORY                          paste is screen printed on silica   from 20 GW to 100 GW. Based
                                                wafer on the front side).
                                                                                  on land availability and solar
                                                                                  radiation, the potential for
                                             •   Automobile industry- again,      solar power in the country is
                                                screen printed on the glass to    estimated to be around 750 GW.
                                                impart defogging properties.
                                                (typical silver loading 60 – 88%   As of 31-08-2020, the total solar
          What is                               by weight).                    power capacity installed in the

          silver paste?                        •   Paints industry: One of     country stands at 37,999 MW.[1]


                                                the recent developments is     [1]Source: https://mnre.gov.in/the-
          Silver paste[1] is a conductive       Antimicrobial coatings using   ministry/physical-progress
          paste formulation that consists       silver powder and silver ions.
          of silver, glass frit and an organic   Recently U.S. EPA regulations in   •   During the beginning of 2020
          medium. Glass frit and organic        40 CFR 152.25 have approved       tenders for around 22,839
          medium facilitate the adhesion and    the use of silver powder for      MW were in pipeline for which
          application onto the target substrate,   manufacturing antimicrobial    LoI(Letter of Interest) has been
          which is a silica wafer in case of    coatings. This regulation will    issued but not commissioned
          solar cells and glass in case of an   help industry players introduce   and for around 28,578 MW
          automobile. Screen printing is the    silver powders into their product   tender issued but LoI yet to be
          technology used to apply the silver   portfolios and provide targeted   issued.
          paste on the substrate as it is cost-  solutions to the construction
          effective and can be done on a large   and healthcare industry, likely to   Status of Domestic Cell and
          scale.                                boost demand for silver powder.   Module production

                                                                               •   Domestic solar cell
          Silver is the most preferred as it has   Silver paste for solar PV modules  manufacturing capacity of
          (a) the highest electrical conductivity,  Silver paste is the second-largest   around 3100 MW with about 16
          (b) high oxidation resistance (an   cost item in a solar PV module after   players, most players are having
          essential factor as the substrate   silicon wafer. At the global level, the   a manufacturing capability of
          is fired to 600 to 700 degrees     PV metallization silver paste market   100 MW. The challenge with
          post screen printing and (c) high   is estimated at around USD 3.4      manufacturing cells domestically
          resistance to acid (important for   billion during 2017 is projected to   is the vast infrastructure
          automobile applications).          grow to USD 4.7 billion by 2025.     costs. Manufacturing cells is




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