Global Solar Electrically Conductive Adhesive Market Size, Trends & Growth Opportunity, By Chemistry (Silicones, Acrylics, Epoxy, Bismaleimides, Butyl and Hybrid Solution), By Application (solar panels and solar cells), By Material (Ethyl Vinyl Acetate (EVA), Fluoropolymers and others), By Region and Forecast 2022-2027.
Solar Electrically Conductive Adhesive Market
Solar Electrically Conductive Adhesive Market was valued at USD 170.45 in 2021 which expected to reach USD 293.5 by 2027 at a CAGR 7.04%.
To connect electronic and electrical components, electrically conductive adhesives are used. These adhesives assist in completing the circuit and preserving its conductivity. Additionally, solar cells and panels employ these adhesives. The inclusion of filler components in electrically conductive adhesives is principally responsible for their characteristics including low shrinkage, moisture resistance, and strong bonding.
Market Drivers: The market for solar electrically conductive adhesives is primarily driven by improved performance features and decreased assembly costs.
Adhesives for solar panels reduce the cost of assembly. They also assist in achieving goals for production in high volumes. For instance, the cost of material and assembly for renewable energy sources like solar panels is today very high. Cost-saving measures are predicted in the upcoming years as a result of rising solar panel production volumes and automated adhesive assembly. As a result, electrically conductive adhesives are required for the manufacturing and installation procedures in the solar industry.
Additionally, adhesives serve to fully remove the stress points that are caused by mechanical fasteners like screws and U-bolts by taking their place as the preferred method of attachment. In addition to offering the solar panel long-lasting protection, durability, and structural strength, they also stand out for their outstanding thermal & electrical management and resistance to UV radiation. In light of this, two major reasons driving the market for solar panel adhesives are enhanced performance characteristics & decreased assembly costs.
Market Challenges: The market expansion may be constrained by strict rules regarding the use of VOCs in electrically conductive adhesives.
The market's expansion is being held back by strict laws regarding the use of volatile organic compounds (VOCs) in the production of electrically conductive adhesive. Due to technical advancements, the market is experiencing difficulties. In many situations, shorter leads could cause temperature-sensitive components to malfunction. To avoid this, electrical components should be assembled after soldering. Due to increased production costs and the lengthened manufacturing process, this, on the other hand, reduces productivity. During the projection period, it is anticipated that growing concern over the emission of volatile organic compounds (VOCs) will restrain market expansion. VOCs are released during the production of electronics adhesives, raising potential risks to human health and the environment. The main causes of smog and ozone production at low atmospheric levels are VOCs.
Market Opportunities: Growing demand for renewable energy is anticipated to result in market expansion.
Solar energy, which accounts for a sizable share of renewable energy sources, is expanding due to its reputation as one of the cleanest sources of electricity. The rising use of solar energy will ultimately assist the global spread of solar electrically conductive adhesives. The fastest yearly growth rate since the 1970s is predicted by the International Energy Agency (IEA), who predicts that the output of renewable energy will increase by more than 8% in 2021 to reach 8 300 TWh.
Additionally, solar PV and wind energy are anticipated to account for two-thirds of the growth in renewable energy. The US, the EU, and India will likely generate the majority of the additional renewable electricity produced globally in 2021, with China coming in second. Furthermore, despite the pandemic, the use of renewable energy increased by 3% in 2020. The decline in demand for all other fuels was a factor in the increase in demand. The primary factor driving the gain was an increase of about 7% in the production of electricity from renewable sources. Long-term contracts, priority access to the grid, and ongoing construction of new plants all helped the expansion of renewable energy in spite of declining electricity demand, supply chain challenges, and construction delays in many parts of the world.
As a result, from 27% in 2019 to 29% in 2020, renewable energy contributed to the production of power globally. The growing potential for the use of solar electrically conductive adhesives will be directly impacted by all of these factors.
Impact of COVID-19 on Market
The astonishing effects of the COVID-19 epidemic have affected each and every one of us. Protective measures like mass shutdowns and physical seclusion, while important, have completely transformed our everyday life into what can occasionally feel like a bizarre nightmare. The number of deaths worldwide is horrifying. The COVID-19 outbreak is still growing and has a detrimental effect on people, communities, and businesses every day. And this was also true of the market for electrically conductive adhesives for solar panels. The market for solar electrically conductive adhesives is one of many areas where the COVID-19 outbreak is providing serious challenges to the adhesives and sealants sector.
The supply of raw materials for the manufacture of Solar Electrically Conductive Adhesives has been considerably impeded due to the global lockdown and shipping halt brought on by COVID-19.
Solar Electrically Conductive Adhesive Market, By Chemistry
Solar Electrically Conductive Adhesives is segmented by chemistry which includes Silicones, Acrylics, Epoxy, Bismaleimides, Butyl and Hybrid Solutions. The Market for Epoxy is expected to dominate the segment owing to its efficient and long-lasting results in connecting the solar panels with its substrates and other materials.
Solar Electrically Conductive Adhesive Market, By Application
Solar Electrically Conductive Adhesives can further be segmented by application and that includes solar panels and solar cells. 
Solar Electrically Conductive Adhesive Market. By Materials
By materials the Solar Electrically Conductive Adhesives market is segmented into Ethyl Vinyl Acetate (EVA), Fluoropolymers and others.
Solar Electrically Conductive Adhesive Market, By Region
Due to the region's growing solar power industry, Asia-Pacific is predicted to rule the market during the analysis period. This region is predicted to experience a significant growth in product demand as a result of favourable government activities implemented to improve the installed capacity of solar panels in the area. The markets for solar electrically conducting adhesives are expected to expand significantly in North America, Europe, and the Middle East & Africa throughout the analysis period.
Recent Developments:
Heraeus Holding debuted its most recent SOL966X line of high-performance, high-efficiency metallization pastes in June 2019 at the 13th annual SNEC PV Power Expo. This series includes the SOL9661B for high efficiency PERC solar cells, the SOL9662B for double printing, and the SOL9661B2 for solar cells with "double passivation." The business also maintains expanding its product line beyond paste to include essential module products for manufacturers, which can help them reduce costs and increase efficiency. Hecaro, a newly developed electrically conductive adhesive with remarkable dependability and module-level TUV certification, was also introduced by the company.
Key Players
Key players are listed in this report such as Permabond LLC, Henkel, 3M, Panacol, Daejoo Electronic Materials Co Ltd, Threebond, Delo, Heraeus Holding, Teamtechnik, Parker Hannifin Corp, Etc.
Market Taxonomy
By Chemistry
•        Silicones
•        Acrylics
•        Epoxy
•        Bismaleimides
•        Butyl
•        Hybrid Solutions
By Application
•        Solar Cells
•        Solar Panels
By Material
•        Fluoropolymers
•        Ethylene vinyl acetate
•        Others
By Region
•        North America
•        Latin America
•        Europe
•        Asia Pacific
•        Middle East & Africa

Global Solar Electrically Conductive Adhesive Market TOC:
1 Introduction        
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Solar Electrically Conductive Adhesive Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Solar Electrically Conductive Adhesive Market, By Chemistry
5.1 Y-o-Y Growth Comparison, By Chemistry 
5.2 Global Solar Electrically Conductive Adhesive Market Share Analysis, By Chemistry 
5.3 Global Solar Electrically Conductive Adhesive Market Size and Forecast, By Chemistry
5.3.1 Silicones
5.3.2. Acrylics
5.3.3. Epoxy
5.3.4. Bismaleimides
5.3.5. Butyl
5.3.6. Hybrid Solutions
6 Global Solar Electrically Conductive Adhesive Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Solar Electrically Conductive Adhesive Market Share Analysis, By Application
6.3 Global Solar Electrically Conductive Adhesive Market Size and Forecast, By Application
6.3.1 Solar Cells
6.3.2 Solar Panels
7 Global Solar Electrically Conductive Adhesive Market, By Material
7.1 Y-o-Y Growth Comparison, By Material
7.2 Global Solar Electrically Conductive Adhesive Market Share Analysis, By Material
7.3 Global Solar Electrically Conductive Adhesive Market Size and Forecast, By Material
7.3. 1 Fluoropolymers
7.3.2. Ethylene vinyl acetate
7.3.3. Others
8Global Solar Electrically Conductive Adhesive Market, By Region
8.1 Global Solar Electrically Conductive Adhesive Market Share Analysis, By Region
8.2 Global Solar Electrically Conductive Adhesive Market Share Analysis, By Region
8.3 Global Solar Electrically Conductive Adhesive Market Size and Forecast, By Region
9 North America Solar Electrically Conductive Adhesive Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Solar Electrically Conductive Adhesive Market Share Analysis, By Chemistry
9.3 North America Solar Electrically Conductive Adhesive Market Size and Forecast, By Application
9.4 North America Solar Electrically Conductive Adhesive Market Size and Forecast, By Material
9.5 North America Solar Electrically Conductive Adhesive Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10EuropeSolar Electrically Conductive Adhesive Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Solar Electrically Conductive Adhesive Market Share Analysis, By Chemistry
10.3 Europe Solar Electrically Conductive Adhesive Market Size and Forecast, By Application 
10.4 Europe Solar Electrically Conductive Adhesive Market Size and Forecast, By Material
10.5 Europe Solar Electrically Conductive Adhesive Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.54. Rest of Europe
11Asia Pacific Solar Electrically Conductive Adhesive Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Solar Electrically Conductive Adhesive Market Share Analysis, By Chemistry 
11.3 Asia Pacific Solar Electrically Conductive Adhesive Market Size and Forecast, By Application 
11.4 Asia Pacific Solar Electrically Conductive Adhesive Market Size and Forecast, By Material
11.5 Asia Pacific Solar Electrically Conductive Adhesive Market Size and Forecast, By Country
11.5.1 China        
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12Latin America Solar Electrically Conductive Adhesive Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Solar Electrically Conductive Adhesive Market Share Analysis, By Chemistry 
12.3 Latin America Solar Electrically Conductive Adhesive Market Size and Forecast, By Application 
12.4 Latin America Solar Electrically Conductive Adhesive Market Size and Forecast, By Material
12.5 Latin America Solar Electrically Conductive Adhesive Market Size and Forecast, Country
13Middle East Solar Electrically Conductive Adhesive Market Analysis and Forecast (2022-2027)
13.1 Introduction
 13.2 Middle East Solar Electrically Conductive Adhesive Market Share Analysis, By Chemistry 
13.3 Middle East Solar Electrically Conductive Adhesive Market Size and Forecast, By Application 
13.4 Middle East Solar Electrically Conductive Adhesive Market Size and Forecast, By Material
13.5 Middle East Solar Electrically Conductive Adhesive Market Size and Forecast, By Country
14Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15Company Profiles
15.1 Permabond LLC
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategi
15.2. Henkel
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. 3M
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Panacol
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Daejoo Electronic Materials Co Ltd
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Threebond
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Delo
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies        
15.8 Heraeus Holding
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Teamtechnik
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Parker Hannifin Corp
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies