Solar Panel Recycling Market (Type - Thin Film, Monocrystalline, and Polycrystalline; Process - Mechanical, Laser, and Thermal; Shelf Life - Normal Loss, and Early Loss): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

Solar Panel Recycling Market (Type - Thin Film, Monocrystalline, and Polycrystalline; Process - Mechanical, Laser, and Thermal; Shelf Life - Normal Loss, and Early Loss): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

Report Code: EIM0095 Category: Energy, Mining and Infrastructure Published: July, 2021

A recent report published by Infinium Global Research on the solar panel recycling market provides in-depth analysis of segments and sub-segments in the global as well as regional solar panel recycling market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional solar panel recycling market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global solar panel recycling market. According to the report, the global solar panel recycling market is projected to grow at a CAGR of 24% over the forecast period of 2021-2027.

Market Insight

The solar panel market has grown considerably in the last ten years. With the increasing number of solar panels being sold and installed worldwide each year, solar panels are ending up in the waste stream. Recycling solar panel is the most sustainable solution in which solar panels can be handled at the end of their useful life. It is processed from an environmental, social impact perspective as well as in terms of resource and economic efficiency. The solar panels recycling industry involves many different activities, from decommissioning of the solar panels to the collection, sorting, and recycling of solar panels. There are a limited number of companies that focus entirely on solar panel recycling.

The solar panel recycling market was valued at around approx. 75 million in 2021 and is expected to reach upto USD 270 million in 2027 with a CAGR of 24% during the forecast period. The factors such as rising environmental concerns and government policies for the safe disposal of solar panels are driving the demand for the solar panel recycling market. The solar panel producers are bound by law to accomplish specific legal requirements and recycling standards in order to make sure that solar panels do not become a burden to the environment. Furthermore, Government authorities across the globe have issued regulations on the installation of solar power that is when technologies to recycle solar panels started emerging. It is crucial for the government to initiate a holistic policy framework for handling the waste from clean energy technologies, highlighting the liability of different stakeholders, and creating an enabling environment to implement the same. However, a lack of general awareness and interest in the developing nations of the Asia-Pacific region is expected to restrain the market’s growth. Moreover, the aging older installations are expected to provide growth opportunities to the market players. The outbreak of COVID-19 has resulted in a slowdown of the global solar panel recycling market. China with the highest number of Photovoltaic installations as well as production of solar PV panels is also suffered owing to the pandemic. Strict travel restrictions implemented across the countries have now paused projects under construction, impacting the movement of workers and suppliers traveling to service sites.

Among the geographies, Europe dominated the global solar panel recycling market followed by North America. The growth of the European region is due to the favorable government initiatives and increasing awareness regarding environmental conservation. The Asia Pacific solar panel recycling market is one of the fastest-growing sectors around the world. However, the region could be drowning in hazardous waste in the coming decades without concrete laws that ensure the recycling of decommissioned panels. Japan was the only Asian country that has made efforts to encourage solar panels recycling, subsidizing recycling equipment, although it has not mandated solar panels waste recycling.

Segment Covered

The report on the global solar panel recycling market covers segments such as type, process, and shelf life. On the basis of type, the sub-markets include thin film, monocrystalline, and polycrystalline. On the basis of process, the sub-markets include mechanical, laser, and thermal. On the basis of shelf life, the sub-markets include normal loss, and early loss.

Solar Panel Recycling Market

Companies Profiled:

The report provides profiles of the companies in the market such as Silrec Corporation, Envaris, Silcontel, Rinovasol, First Solar Inc., Reiling Group, Yingli Energy Co. Ltd., ECS Refining LLC, Canadian Solar, Inc., and Reclaim PV Recycling.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of solar panel recycling market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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