Solar Panel Recycling Market Size, Trends, Share, Growth | Report 2022-2030
The global solar panel recycling market size was estimated at around USD 161.05 million in 2021 and it is projected to hit around USD 478.9 million by 2030, growing at a CAGR of 12.87% from 2022 to 2030.
Report Highlights
Increasing preference for renewable energy over conventional sources of energy considering the nominal ecological impact is likely to boost the market growth over the projected period.
The growing number of photovoltaic installations on account of their declining prices is likely to further enhance the demand for the recycling of solar panels. Also, the rising awareness about the cost as well as ecological benefits related to solar energy is expected to trigger the market growth. With the extensive R&D, various mechanisms and processes to carry out the active recycling of solar panels have progressed.
Moreover, several strict regulations and government certifications with regards to appropriate solar panel waste treatment and to encourage the implementation of solar energy projects are expected to drive the market. To permit supportable development, certain government authorities are also providing numerous support schemes and incentives for the effective recycling of solar panels.
The mechanical solar panel recycling process type segment led the market in 2021. The segment will retain its dominant position throughout the forecast years on account of the wide usage of this process due to its efficiency and low impact on the environment. The monocrystalline solar panels recycling accounted for the largest share of 50.5% in 2021. High-efficiency stages and longer shelf life along with space efficacy are projected to surge the demand for such panels over the upcoming years.
Europe is the leading regional market owing to the wide consumer acceptance and early product adoption across the region. Moreover, various government actions to legalize the recycling process in countries, such as the U.K. and Germany, are estimated to thrust the market growth. Certain technological advancements to boost the rate of recycling are expected to drive the product demand further.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 161.05 million |
| Revenue Forecast by 2030 | USD 478.9 million |
| Growth rate from 2022 to 2030 | CAGR of 12.87% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Process, product, shelf life, region |
| Companies Covered |
First Solar, Inc.; Echo Environmental, LLC; Silcontel Ltd.; Canadian Solar; Silrec Corp.; SunPower Corp.; Reiling GmbH & Co. KG; Trina Solar; Aurubis; Envaris; SiC Processing GmbH; Yingli Energy Co. Ltd.; Hanwha Group |
Process Insights
The mechanical process accounted for the largest revenue share of more than 59.6% in 2021 and is likely to expand further at a significant growth rate from 2022 to 2030. However, the laser process segment is estimated to register the fastest CAGR, both in terms of revenue and volume, over the forecast period. The thermal process has a limited acceptance scope but is projected to gain broader adoption during the estimated period owing to a decrease in silicon content in solar panels.
Shelf life Insights
The early loss segment accounted for over USD 105.4 million in 2021. Various government standards and regulations to encourage solar panel recycling and renewable energy projects to preserve ecological balance are expected to foster market growth throughout the forecast years. Major companies in the market are continuously determined towards technical advancements to surge the service quality and efficiency.
The degradation or early weathering of solar panels due to maintenance issues, lack of product standardization, and unfavorable weather conditions is the primary factor contributing to the larger share of the segment in the market. In terms of volume, the normal loss segment is anticipated to witness a significant in the coming years. Since solar panels’ normal shelf life is considered approximately 30 years, they will need to be condensed inactive owing to issues related to maintenance.
Product Insights
The monocrystalline solar panel recycling product type accounted for the largest revenue share of over 51.5% in 2021. Although monocrystalline panels are costly, they are extensively used on account of high heat tolerance, longer shelf life, and high efficiency. These panels are manufactured with sole crystalline silicon.
Thin film solar panels are projected to appear as the fastest-growing product segment over the projection period owed to active performance and low cost of these panels. Extensive R&D has led to the development of lightweight, low-cost thin film solar modules with properties, such as flexibility and temperature resistance. These kinds of products allow mass manufacture due to their cost efficacy.
Regional Insights
Europe accounted for the largest revenue share in 2021. It is estimated to expand further at a significant growth rate from 2022 to 2030 as the region has the maximum number of installed bases of solar farms that would lead to huge numbers of end-of-life solar panels in the upcoming years. The presence of large quantities of end-of-life solar panels is estimated to result in an increase in solar panel waste. Thus, the demand for solar panel recycling is anticipated to rise over the coming years.
In Germany, the market is set to exceed over USD 70.80 million by 2030 owing to technological advancements as well as exhaustive government regulations for waste management. The growing use of solar panels for power generation as an alternative of other non-eco-friendly sources is projected to spur the product demand over the next seven years.
The Asia Pacific is projected to be the fastest-growing regional market from 2022 to 2030. China and Japan are the major revenue generators in the APAC regional market. At present, China accounts for the maximum number of patent filings in solar panel recycling owing to growing investments in research and development of recycling technology.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Solar Panel Recycling Market
5.1. COVID-19 Landscape: Solar Panel Recycling Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Solar Panel Recycling Market, By Process
8.1. Solar Panel Recycling Market, by Process, 2022-2030
8.1.1 Thermal
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Mechanical
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Laser
8.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Solar Panel Recycling Market, By Product
9.1. Solar Panel Recycling Market, by Product, 2022-2030
9.1.1. Monocrystalline
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Polycrystalline
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Thin Film
9.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Solar Panel Recycling Market, By Shelf Life
10.1. Solar Panel Recycling Market, by Shelf Life, 2022-2030
10.1.1. Normal Loss
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Early Loss
10.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Solar Panel Recycling Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Process (2017-2030)
11.1.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Process (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.4.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Process (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Process (2017-2030)
11.2.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Process (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.4.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Process (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Process (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Process (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Process (2017-2030)
11.3.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Process (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.4.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Process (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Process (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Process (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Process (2017-2030)
11.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Process (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.4.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Process (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Process (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Process (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Process (2017-2030)
11.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Process (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.4.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Process (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Shelf Life (2017-2030)
Chapter 12. Company Profiles
12.1. First Solar Inc.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Echo Environmental, LLC
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. SILCONTEL LTD
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Canadian Solar
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Silrec Corporation.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. SunPower Corporation
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Reiling GmbH & Co. KG
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Trina Solar
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Aurubis
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Envaris
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers