Increasing Volume of Decommissioned Pv Panels is driving the growth at a CAGR of 12.5% during the forecast period 2023 to 2030

Market Research Future (MRFR) has published on the “Global Solar Panel Recycling Market”.

The Diesel Genset Market is estimated to register a CAGR of 12.5% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global solar panel recycling market — Yingli Energy Co, Silcontel, Reclaim PV Recycling, Zorlu Holding, First Solar, Canadian Solar Inc, Rinovasol Group, Reiling GmbH & Co, Recycle PV Solar, LLC, Solon, We Recycle Solar, Cleanlites Recycling, Reclaim PV Recycling, Morgen Industries, Inc.,Silcontel Ltd, and Recycle Solar Technologies Limited

Market Highlights

The global solar panel recycling market is accounted for to register a CAGR of 12.5% during the forecast period and is estimated to reach USD 461.2 Million by 2030.

Solar panel recycling refers to the process of collecting, disassembling, and recovering valuable materials from end-of-life or decommissioned solar panels. As solar panels have a lifespan of around 25 to 30 years, proper recycling is crucial to ensure their sustainable disposal and to recover valuable resources for reuse. The recycling process typically begins with the collection of retired or damaged solar panels. These panels are then transported to recycling facilities where they undergo various stages of dismantling and sorting. The panels are carefully disassembled to separate the different components, including the glass, aluminum frame, silicon-based solar cells, and other materials. The solar panel recycling market is being driven by several factors, including the increasing use of solar energy, the growing demand for sustainable solutions, and the need to reduce waste and environmental pollution.

However, there are also some restraints that may impact the growth of the solar panel recycling market. One of the main restraints is the lack of standardization in the recycling process, which can lead to variations in the quality of recycled solar panels. This can impact the overall demand for recycled solar panels. In addition, the high cost of solar panel recycling technology and the limited availability of recycling facilities can also impact the growth of the solar panel recycling market. Companies may need to invest in new technology and infrastructure to expand their operations and meet the growing demand for recycled solar panels.

Despite these restraints, the solar panel recycling market is expected to grow in the coming years due to the increasing demand for sustainable solutions and the need to reduce waste and environmental pollution. Governments and organizations around the world are also promoting the use of renewable energy sources, which is driving the growth of the solar panel recycling market.

As the solar energy industry continues to grow, the number of decommissioned photovoltaic (PV) panels is also increasing. These panels have a limited lifespan of around 25-30 years, after which they need to be replaced. For instance, in June 2016, the International Renewable Energy Agency (IRENA) released a report that estimated the amount of waste PV panels could reach 78 million tonnes by 2050. This report highlights the urgent need for effective recycling strategies to address the growing volume of decommissioned PV panels and reduce their environmental impact. This is driving the demand for the solar panel recycling market. Recycling of PV panels involves the recovery of valuable materials such as silicon, glass, and metals like aluminium and copper, which can be reused to manufacture new solar panels or other products. The recycling process also prevents the accumulation of electronic waste and reduces the environmental impact of solar panel disposal.

Several countries have already implemented regulations that require the recycling of PV panels such as U.S. solar panel recycling program and many more are expected to follow suit. This has created opportunities for companies to enter the solar panel recycling market and develop innovative recycling technologies. As the volume of decommissioned PV panels continues to grow, the demand for solar panel recycling is expected to increase even further.

Segment Analysis

The global solar panel recycling market has been segmented based on Type, Process, and region.

The Global solar panel recycling market has been categorized Based on the type into Monocrystalline, Polycrystalline and Thin Film. The Monocrystalline segment is experiencing significant growth in the solar panel recycling industry. This growth can be attributed to the increasing adoption and market share of Monocrystalline solar panels in the photovoltaic industry. These panels are widely recognized for their high efficiency, superior performance, and sleek appearance, which has led to their dominance in the solar panel market. As more Monocrystalline solar panels are installed worldwide, a larger number of these panels reach the end of their operational life and need to be replaced or upgraded. This has resulted in a higher demand for the recycling of Monocrystalline panels compared to other panel types. The longer lifespan of Monocrystalline panels, typically around 25 to 30 years or more, contributes to this growing demand for recycling services.

The Global solar panel recycling market has been categorized based on process into Thermal, Mechanical and Laser. The Mechanical segment in solar panel recycling is experiencing significant growth. The increasing volume of end-of-life solar panels is a key driver. As the solar industry continues to expand and more panels reach their end of life, there is a higher demand for efficient and effective recycling processes. Mechanical recycling offers a viable solution for handling and processing these panels on a larger scale. Technological advancements have also played a crucial role in the growth of the Mechanical segment. Innovations in mechanical processing technologies have improved the efficiency and effectiveness of recycling operations. Automated disassembly and sorting techniques have been developed to streamline the recycling process, enabling faster and more precise material recovery.  

Access full report @ https://www.marketresearchfuture.com/reports/solar-panel-recycling-market-6701

Regional Analysis

By Region, the study segments the Global solar panel recycling market into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2022, the Europe region drove the global solar panel recycling market by holding a substantial market share with a market value. Solar panel recycling is experiencing significant growth in Europe due to various reasons. The European region has implemented stringent regulations and policies to promote sustainable waste management, including extended producer responsibility (EPR) policies for solar panel manufacturers. These regulations ensure that manufacturers are responsible for the end-of-life management of their products, including recycling and the increasing deployment of solar panels in Europe has led to a rise in the number of decommissioned panels, creating a demand for effective recycling processes. As the solar industry continues to expand, the need for proper disposal and recycling of panels becomes more critical, driving the growth of recycling infrastructure.

The North American solar panel recycling market is a growing industry focusing on reducing waste and environmental impact. The United States and Canada are the primary countries driving the growth of the North American solar panel recycling market, with several companies operating in this space. Some of the key players in the North American solar panel recycling market include First Solar, Veolia, Recycle Solar Technologies Limited and Reiling Glass Recycling.

Key Findings of the Study

• The global solar panel recycling market is expected to reach USD 461.2 Million by 2030, at a CAGR of 12.5% during the forecast period.


• The Europe region accounted for the fastest-growing global market.


• Based on type, the Monocrystalline segment was attributed to holding the largest market in 2022.


• Based on the process, the mechanical segment was attributed to holding the largest market in 2022.


• Yingli Energy Co, Silcontel, Reclaim PV Recycling, Zorlu Holding, First Solar, Canadian Solar Inc, Rinovasol Group, Reiling GmbH & Co, Recycle PV Solar, LLC, Solon, We Recycle Solar, Cleanlites Recycling, Reclaim PV Recycling, Morgen Industries, Inc.,Silcontel Ltd, and Recycle Solar Technologies Limited are the key market players.