Solar Panel Recycling Market Share, Size, Trends, Industry Analysis Report, By Type (Silicon, Monocrystalline, Polycrystalline, Thin-film); By Process; By Shelf Life; By Region; Segment Forecast, 2023- 2032

Solar Panel Recycling Market Share, Size, Trends, Industry Analysis Report, By Type (Silicon, Monocrystalline, Polycrystalline, Thin-film); By Process; By Shelf Life; By Region; Segment Forecast, 2023- 2032

The global solar panel recycling market size is expected treach USD 477.74 million by 2032, according ta new study by Polaris Market Research. The report “Solar Panel Recycling Market Share, Size, Trends, Industry Analysis Report, By Type (Silicon, Monocrystalline, Polycrystalline, Thin-film); By Process; By Shelf Life; By Region; Segment Forecast, 2023-2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

Recycling the waste from solar panels that have reached the end of their useful lives can help trecover valuable resources and create jobs. The International Renewable Energy Agency estimates, by 2030, the value of clean energy raw materials from panels will be about USD 450 million globally. This is equal tthe price of raw materials required tproduce about 60 million new panels today. Recycling solar panels instead of dumping them in landfills saves landfill space and maximizes the value of the raw materials.

India currently does not have any system tmanage solar waste. Considering the country's solar target of 280 GW, by 2030, it is adopting a solar waste management policy. As per the “National Solar Energy Federation” of India, SolarPower Europe & the PVCycle, funded by the EU in India & the Union Ministry of New and Renewable Energy, could produce around 34,600 tonnes of solar waste in the country, by 2030. This will further create a wide range of opportunities for the expansion of the market.

Government regulations are influencing the growth of the market. This includes the implementation of waste management and recycling regulations, as well as financial incentives and subsidies for companies involved in the recycling of solar panels. California and Washington have developed regulations for extended producer responsibility (EPR). Manufacturers of the PV modules alscontribute tthe recycling of such modules that are sold in at ncost tthe consumer.

Furthermore, the Australian federal government has addressed the issue and allocated a $2 million grant as a part of the National Product Stewardship Investment Fund for the creation and implementation of an industry-led product stewardship programme for PV systems. This will further propel the demand and growth for solar panel recycling in the upcoming years.

Solar Panel Recycling Market Report Highlights

Silicon segment is anticipated tgrow at a higher rate owing tthe increasing demand for solar energy and the need taddress the environmental and health concerns associated with the disposal of PV panels.

Mechanical segment accounted for the higher growth rate owing tthe development of new mechanical recycling technologies and processes.

Early Loss segment is projected texperience a significant growth rate due tthe growing need for sustainable and responsible recycling solutions for the increasing number of decommissioned solar panels.

North America is expected tgrow at a significant growth rate owing tthe stringent regulations by the government in this region.

Gobal players include First Solar, EchEnvironmental, Silcontel, Canadian Solar, Silrec, SunPower, Reiling GmbH, Trina Solar, Aurubis, Envaris, SiC Processing, Yingli Energy, & Hanwha Group.

Polaris Market Research has segmented the solar panel recycling market report based on type, process, shelf life, and region:

Solar Panel Recycling, Type Outlook (Revenue - USD Million, 2019 - 2032)

Silicon

Monocrystalline

Polycrystalline

Thin-film

Solar Panel Recycling, Process Outlook (Revenue - USD Million, 2019 - 2032)

Thermal

Mechanical

Laser

Solar Panel Recycling, Shelf Life Outlook (Revenue - USD Million, 2019 - 2032)

Normal Loss

Early Loss

Solar Panel Recycling, Regional Outlook (Revenue - USD Million, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa