Greening the Future Solar Panel Recycling's Role in the...

Greening the Future Solar Panel Recycling's Role in the Circular Economy

Posted 2023-10-31 06:03:51

Market Research Future Insights

According to MRFR analysis, Global Solar Panel Recycling market is expected to register a CAGR of ~ 12.5% from 2023 to 2030 and hold a value of over USD 461.2 Million by 2030. The global solar panel recycling market refers to the industry focused on the collection, processing, and recovery of valuable materials from end-of-life solar panels.

As the deployment of solar energy systems continues to increase worldwide, there is a growing need to manage the disposal of decommissioned or damaged solar panels in an environmentally sustainable manner.

The market for solar panel recycling has been expanding steadily due to several factors. Firstly, the increasing adoption of solar energy systems in residential, commercial, and industrial sectors has led to a rise in the number of decommissioned solar panels. Additionally, stringent regulations and environmental policies encourage proper disposal and recycling practices, further driving market growth.

Regional Analysis

North America has a mature solar panel recycling market. The United States and Canada have well-established recycling infrastructure and regulations, ensuring the safe disposal and recycling of solar panels. The region also has a strong focus on sustainability and environmental stewardship, driving the demand for solar panel recycling services.

Europe is a leading market for solar panel recycling. Countries like Germany, France, and the Netherlands have implemented strict regulations for the disposal and recycling of solar panels. The European Union's Waste Electrical and Electronic Equipment (WEEE) directive mandates the proper treatment and recycling of solar panels. The presence of well-established recycling facilities and increasing awareness about environmental issues contribute to the growth of the market in Europe.

The Asia-Pacific region is witnessing rapid growth in the solar panel recycling market. Countries like China, Japan, and India are major contributors to the market. China, being the world's largest solar panel manufacturer, has recognized the importance of recycling and has implemented policies to promote the recycling of solar panels. In Japan and India, the increasing deployment of solar panels has led to a rise in the demand for recycling services.

Market Segmentation

Global Photovoltaic panel disposal market has been segmented into Product Type, Operating Platforms.

Type Outlook : Silicon , Monocrystalline , Polycrystalline

Recycling Process : Thermal , Mechanical , Laser

Key Players

· Yingli Energy Co

· Silcontel, Reclaim PV Recycling

· Zorlu Holding

· First Solar

· Canadian Solar Inc

· Rinovasol Group

· Reiling GmbH & Co