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ENERGY & POWER

Solar Panel Recycling Market Segmentation By Type (Monocrystalline, & Polycrystalline, Thin Film & Others); By Process (Thermal, Mechanical, Laser); By Shelf Life (Normal Loss, Early Loss); By End Users (Manufacturers and Government Authorities) – Global Demand Analysis & Opportunity Outlook 2027

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Introduction to Solar Panels

Growing energy crisis, high carbon emissions and increased environmental concerns has led to the implementation of solar panels for energy generation. Solar panels are systems that generate electricity from solar energy for both residential and commercial purposes. These are made up of glass, aluminum, synthetic materials, silicon and other metals which are estimated to contribute to large amount of waste after the completion of solar panels’ lifecycle, further leading to environmental degradation.

Solar panel recycling is the processing of systems or panels to obtain the parts that can be reused in the manufacturing of other products. It is a complex task as they contain certain metals which must be separated before, for proper recycling. Solar panel recycling has environmental and economic benefits.

Market Size and Forecast

The global solar panel recycling market is estimated to cross USD 325 million by 2027 on the back of growing adoption of solar power energy generation methods backed by favoring government regulations around the world. The market is anticipated to record a CAGR of around 21.4% over the forecast period i.e. 2019-2027. The market is segmented by shelf life into normal and early loss segments, out of which, the early loss segment is anticipated to witness significant growth in upcoming years owing to significant presence of products with less shelf life in the market. Additionally, the degradation of solar panels due to maintenance issues, unfavorable weather conditions and lack of standardization are some of the factors supporting the growth of this segment in the market.

The market is further segmented by process into thermal, mechanical and laser processes; by type into monocrystalline, polycrystalline, thin film and others, out of which,  monocrystalline segment is influencing the growth of the market on account of its practical features like greater efficiency, superior grade material, longer shelf life and excellent heat resistance.

Companies in this market are focusing on untapped countries and regions in order to expand their operations. In addition, new manufacturers are also entering the market owing to the potential growth prospects pertaining to solar panels and increasing initiatives to recycle PV panels. CLICK TO DOWNLOAD FREE SAMPLE

United States Canada Solar Panel Recycling Market Size

Growth Drivers

Growing Environmental Concerns

The solar panels are expected to contribute to large amount of waste after completing their expected lifecycle of around 30 years, which is further expected to raise environmental concerns around the globe. According to IRENA (International Renewable Energy Agency), the total amount of PV panel waste around the globe is estimated to be 78 million tonnes by 2050. This is expected to contribute to pollution with waste released through landfill among other forms of reducing waste, driving many countries to work towards recovery and recycling PV panels. The adoption of effective waste regulations and growing investments related to recycling PV solar panels is expected to boost the growth of the market in future.

Favorable Government Regulations

Several laws and regulations, such as the European Waste Electrical and Electronic Equipment (WEEE) Directive, have laid out effective ways of managing waste related to solar panels. These regulations are proposed by governing bodies of various countries to encourage green projects. Additionally, government support in the form of subsidies and tax benefit to the service providers is one the major factors that are boosting the growth of the market.

Restraints

High Investment and Lack of Skills

The research and development activities pertaining to solar panel recycling involves huge investment. Additionally, there are lack of skills and infrastructure required for recycling PV panels. These factors are anticipated to dampen the growth of the market over the forecast period.

Market Segmentation

Our-in depth analysis of the solar panel recycling market includes the following segments:

By Type

  • Monocrystalline
  • Polycrystalline
  • Thin Film
  • Others

By Process

  • Thermal
  • Mechanical
  • Laser

By Shelf-Life

  • Normal Loss
  • Early Loss

By End Users

  • Manufacturers
  • Government Authorities

By Region

On the basis of regional analysis, the solar panel recycling market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

The market in North America is anticipated to witness significant growth during the forecast period owing to the increasing use of solar panels coupled with stringent recycling regulations across the region. The growing adoption of solar panels in emerging economies, such as, India & China is expected to create new growth opportunities for market players in upcoming years. These factors are estimated to boost the growth of the market in Asia-Pacific region.

The solar panel recycling market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC,  Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Top Featured Companies Dominating the Market:

  • Silcontel Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Rinovasol Group
  • Reiling GmbH & Co. KG
  • ENVARIS GmbH
  • ECS Refining LLC
  • Reclaim PV Recycling Pty Ltd.
  • Silrec Corporation
  • Yingli Green Energy Holding Company Ltd.

 

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