Solar Panel Recycling

Solar Panel Recycling

Global Solar Panel Recycling Market to Reach US$569.1 Million by 2030

The global market for Solar Panel Recycling estimated at US$255.1 Million in the year 2023, is expected to reach US$569.1 Million by 2030, growing at a CAGR of 12.1% over the analysis period 2023-2030. Monocrystalline Solar Panel Recycling, one of the segments analyzed in the report, is expected to record a 11.2% CAGR and reach US$273.1 Million by the end of the analysis period. Growth in the Polycrystalline Solar Panel Recycling segment is estimated at 11.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$66.4 Million While China is Forecast to Grow at 15.7% CAGR

The Solar Panel Recycling market in the U.S. is estimated at US$66.4 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$134.3 Million by the year 2030 trailing a CAGR of 15.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 8.3% and 10.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.4% CAGR.

Global Solar Panel Recycling Market - Key Trends and Drivers Summarized

How Is Solar Panel Recycling Supporting Sustainable Energy Management?

Solar panel recycling involves the recovery and reuse of materials from end-of-life photovoltaic (PV) panels, addressing concerns related to waste management, resource recovery, and sustainability. As the adoption of solar energy continues to grow, so does the need to manage aging and decommissioned solar panels in an environmentally responsible manner. Solar panel recycling facilities recover valuable materials like silicon, glass, aluminum, and precious metals, which can be reused in new panels or other industries. By reducing waste and promoting circular economy principles, solar panel recycling is essential for the sustainable growth of the solar energy sector.

What Are the Key Segments in the Solar Panel Recycling Market?

Major types include crystalline silicon panels and thin-film panels, with crystalline silicon panels holding the largest market share due to their widespread use and longer lifespan. Processes for recycling include mechanical recycling, thermal processing, and chemical extraction, with mechanical recycling representing a significant segment driven by its cost-effectiveness and ability to recover materials efficiently. End-users include recycling facilities, solar energy companies, and waste management firms, with recycling facilities leading the market as they process large volumes of decommissioned panels for material recovery.

How Is Solar Panel Recycling Integrated Across the Energy Sector?

In the solar energy sector, recycling facilities dismantle end-of-life panels, separating glass, aluminum, and silicon for reuse in manufacturing new panels or other products, reducing the demand for virgin materials. Solar energy companies collaborate with recyclers to manage panel decommissioning, ensuring compliance with environmental regulations and promoting sustainability goals. Waste management firms are also involved in collecting and processing decommissioned panels, contributing to efficient waste handling and resource recovery. Additionally, governments and regulatory bodies promote recycling initiatives through incentives, policies, and funding, supporting the development of advanced recycling technologies and infrastructure.

What Factors Are Driving the Growth in the Solar Panel Recycling Market?

The growth in the Solar Panel Recycling market is driven by several factors, including the increasing adoption of solar energy, which has led to a rise in decommissioned panels and waste management needs. Advancements in recycling technologies, such as automated separation and chemical extraction, have improved the efficiency and cost-effectiveness of material recovery from solar panels. The focus on circular economy practices and sustainable resource management has further fueled demand, as stakeholders aim to minimize environmental impact and maximize resource recovery. Additionally, government regulations mandating proper disposal and recycling of solar panels have contributed to market growth, ensuring compliance and promoting sustainable waste management practices.

Select Competitors (Total 34 Featured) -

• Aurubis
• Canadian Solar
• Echo Environmental, LLC
• Envaris
• First Solar Inc.
• Hanwha Group
• Reiling GmbH & Co. KG
• SiC Processing GmbH
• Silcontel Ltd.
• Silrec Corp.
• SunPower Corp.
• Trina Solar
• Yingli Energy Co. Ltd.

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