The market share of backside silver paste is low, and PERC batteries are its main demand end.

Photovoltaic silver paste is the core auxiliary material for preparing photovoltaic cells. According to the location used, it can be divided into two types: front silver paste and back silver paste. Backside silver paste refers to the photovoltaic silver paste used on the backside of photovoltaic cells to play an adhesion role. The silver paste on the back needs to have the advantages of strong adhesion and good drought resistance, and PERC batteries are its end products.

Backside silver paste is a subdivided product of photovoltaic silver paste. As the market demand for photovoltaic silver paste grows, the development speed of the backside silver paste industry continues to accelerate. In 2022, my country’s backside silver paste consumption will reach 751.2 tons, accounting for nearly 30% of the total photovoltaic silver paste consumption. Compared with front-side silver paste, back-side silver paste has a smaller application range and a lower market share. It is expected that in the future, as photovoltaic cell technology continues to make breakthroughs, front-side silver paste will still dominate my country’s photovoltaic silver paste market, which will bring challenges to the development of the back-side silver paste industry.

Silver powder is the main raw material of photovoltaic silver paste and accounts for the main production cost. For a long time, due to factors such as high technical barriers, my country has been highly dependent on the import of silver powder, which has driven the cost of photovoltaic silver paste production to continue to increase. The silver content plays a decisive role in the market price of photovoltaic silver paste. Compared with the front silver paste, the silver content of the back silver paste is lower, less than 70%, so the price is relatively low. According to the “2023-2028 China Backside Silver Paste Industry Market In-depth Research and Development Prospects Forecast Report” shows that the price of back silver paste in my country will reach 3,100 yuan/kg in 2022, which is 60% of the price of front silver paste.

The backside silver paste is mainly used in the production of PERC batteries. PERC cells are the mainstream product of photovoltaic cells in my country, accounting for nearly 60% of the market. PERC cells, also known as emitter and back passivation cells, have the advantages of high power generation, high photoelectric conversion efficiency, and low production cost. They are widely used in urban power stations and commercial power stations. In 2022, my country’s PERC battery production capacity will reach 171.2GW, a year-on-year increase of 28.9%. As the development of downstream industries accelerates, my country’s backside silver paste market space is expected to be further expanded.

In terms of market competition, with the improvement of technological maturity, the localization process of my country’s backside silver paste market continues to accelerate. Continental Electronics, Guangda Electronics, Youle Optoelectronics, Zhengneng Electronics, Ruxing Technology, etc. are the main manufacturers of backside silver paste in my country. Ruxing Technology’s main products include aluminum paste for PERC batteries, back electrode paste for PERC batteries, aluminum paste for XBC batteries, aluminum paste for crystalline silicon solar cells, etc. and its preparation method” and many other backside silver paste invention patents.

Industry analysts said that backside silver paste is a subdivided product of photovoltaic silver paste and is widely used in the production process of PERC cells. At present, my country’s backside silver paste market demand is weak, and frontside silver paste still occupies a dominant position in the photovoltaic silver paste market. Local companies urgently need to increase research on the performance and application of backside silver paste to drive further expansion of its market space.