North America Solar Panel Recycling Market Growth Prospects 2024-2032

North America Solar Panel Recycling Market Growth Prospects 2024-2032

Triton’s research suggests that the Middle East and Africa solar panel recycling market is estimated to register growth at a CAGR of 14.62% during the forecast period 2024-2032.

The solar panel recycling market in the Middle East and Africa is gradually gaining momentum as solar energy capacity expands. This growth is supported by government policies that promote renewable energy and the increasing competitiveness of solar photovoltaic (PV) technology. In particular, the Middle East and North Africa (MENA) region is experiencing accelerated solar capacity growth due to its favorable policy environment and cost advantages, making solar PV an attractive energy source.

However, the region faces challenges, including a lack of existing recycling infrastructure and the economic feasibility of large-scale recycling efforts. Governments will need to implement more targeted policies and invest in recycling technologies to support sustainable solar expansion.

The countries included in this region are UAE, Israel, South Africa, Saudi Arabia, and Rest of Middle East & Africa.

The United Arab Emirates leads the regional market, gaining around $2.64 million in 2023

The UAE is expected to significantly increase its solar energy production, aiming to generate around 25% of its electricity from solar by 2050, as per industry sources.

The Emirates Waste to Energy Company is developing a pioneering project in Sharjah, which involves installing solar panels on capped landfills, contributing up to 120 MW of renewable energy. This initiative helps generate clean energy and aligns with the country’s push toward sustainability by addressing waste management and recycling.

This surge in solar capacity will eventually generate large volumes of decommissioned solar panels that need to be recycled, driving the solar panel recycling market growth.

Market Forecast for South Africa

The solar panel recycling market in South Africa is growing as the country expands its use of renewable energy to reduce carbon emissions. With the rapid installation of solar photovoltaic (PV) systems, concerns about the end-of-life management of solar panels have grown. The market for solar panel recycling is still in its infancy but has significant potential as these systems age. To support this, the government has introduced several initiatives. For instance, the Extended Producer Responsibility (EPR) regulations, introduced in 2021, require manufacturers to manage the life cycle of products, including solar panels, by promoting reuse and recycling. These policies are set to create lucrative opportunities for contenders in the solar panel recycling market.

The market is divided into end-user, shelf life, technology, and process. The end-user segment includes commercial/industrial, utility, and residential.

As businesses and industries increasingly transition to renewable energy sources to reduce operational costs and meet sustainability goals, the installation of solar panels has surged. This has led to a growing demand for solar panel recycling as older panels reach the end of their life cycle or are replaced with more efficient technologies. Companies in the commercial/industrial segment are motivated by environmental regulations, corporate social responsibility (CSR), and cost-saving opportunities associated with reclaiming valuable materials like silicon, silver, and aluminum from decommissioned panels.

Contender Analysis in the Solar Panel Recycling Market:

Silrec Corporation specializes in supplying products and services to the semiconductor and solar industries. Its clientele includes semiconductor manufacturers, equipment producers, solar wafer makers, research institutions, and optical product manufacturers. Silrec also provides specialized services such as testing low-resistivity silicon using advanced equipment and removing quartz from silicon pot scrap, ensuring only trace amounts remain.

Other major firms thriving in the market are Sharp Corporation, Canadian Solar, Aurubis AG, Reiling Group, and Echo Environmental.

NORTH AMERICA SOLAR PANEL RECYCLING MARKET 2024-2032.pdf