2026年中国光伏用银行业产业链、发展背景、需求量、价格走势及发展展望：全球光伏领域白银需求量约6086吨，价格上涨将推动“去银化”节奏加速[图]

Core Viewpoint - Silver is a key material for photovoltaic (PV) cell metallization, primarily used to produce conductive silver paste, which is essential for collecting and exporting current in solar cells. The demand for silver in the PV industry is rapidly increasing, with projections indicating a significant rise in demand by 2024, despite a slight decline expected in 2025 due to the acceleration of "de-silverization" processes in the industry [1][8][12]. Group 1: Silver's Role in Photovoltaic Industry - Silver is crucial for the production of conductive silver paste used in PV cells, providing advantages such as chemical stability and compatibility with established manufacturing processes [3][5]. - The global demand for silver in the PV sector was 2,330 tons in 2019, accounting for 7.4% of total silver demand, and is expected to rise to 6,147 tons by 2024, representing 17.0% of total demand [8][9]. - China is the largest producer and installer of PV systems, with its silver demand in the PV sector projected to reach nearly 5,700 tons in 2024, making up over 92% of global demand [9]. Group 2: Price Trends and Market Dynamics - Since the fourth quarter of 2025, silver prices have surged, with the London spot price reaching a high of $95.41 per ounce by January 22, 2026, marking a 33% increase from December 2025 [10][11]. - The price increase is attributed to a supply-demand imbalance, heightened industrial demand, and increased market interest in silver as a safe-haven asset amid geopolitical risks [10][12]. - The rising silver prices are impacting the manufacturing costs of solar cells and components, leading to increased cost pressures for downstream companies [11]. Group 3: Future Outlook and De-silverization Trends - The trend of "de-silverization" is accelerating in the PV industry, with companies exploring alternative materials and technologies to reduce silver usage due to rising costs [12][13]. - The silver consumption per cell is expected to decrease significantly, with projections indicating a peak in silver demand for PV applications in 2024, followed by a slight decline in subsequent years due to technological advancements and slower growth in the PV sector [12][13].