Solar Panel Recycling Market Is Driven By Increased Regulation For E-waste Management

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The solar panel recycling market provides facilities for recycling of solar panels as they reach their end-of-life. Solar panels consist of glass, plastics, silicon, aluminum, copper and other rare earth materials. Recycling helps recover these valuable materials and reduce the load on landfills. The process involves dismantling and segregating the various components including photovoltaic cells, plastic frames, junction boxes, electrical connections. The glass is recovered for reuse in other manufacturing processes while the cells are processed for extracting materials like silver, gold and silicon. Developments in recycling technologies have made recovery and reuse more efficient. The recovered materials help offset costs of new material procurement. With solar power capacity addition rising globally, management of decommissioned panels is an emerging issue that recycling addresses.

The Global solar panel recycling market is estimated to be valued at US$ 298 Mn in 2024 and is expected to exhibit a CAGR of 19% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the solar panel recycling ...
... market are Reclaim PV Recycling, Silcontel, Rinovasol, RecyclePV, ECS Refining, REMA PV Systems, Dongfas Group, Rinovasol Group, Envaris, Recycle Solar Technologies Limited, Experia Solution, CCL Recycling, PV Cycle, First Solar, Reclaim PV Recycling, Silcontel, Aurora Solar Recycling, Solarcycle Recycling, and PV Recycling.

The growing demand and installation of solar panels globally is driving the need for recycling as more panels complete their lifespan. Countries worldwide are promoting solar energy capacity additions to meet renewable goals which will add to recycling volumes in future.

Stringent regulations around e-waste management and rising awareness about sustainability are pushing top solar panel producing countries to invest in local recycling infrastructure. This is expected to provide opportunities for global recycling players to expand their footprint across lucrative international markets.

Market Drivers

Increased regulation for e-waste management: Governments worldwide are enacting legislation around end-of-life disposal of electronics to promote recycling and prevent hazardous dumping. This has made recycling of decommissioned solar panels mandatory pushing up demand. For example, the European Commission's Waste Electrical and Electronic Equipment Directive makes producers responsible for financing recycling.

Geographical Regions With High Market Concentration

In terms of value, the solar panel recycling market witnesses high concentration in Western European countries like Germany, Netherlands, Belgium etc. This is because these countries have led the rooftop solar panel installation drive over last two decades and now a huge stock of end-of-life panels is available for recycling. Germany alone accounts for over 30% of global market value owing to pioneering role in solar energy and recycling policies. Other major markets include USA and Japan due to supportive policies and large installed base of both old and new solar projects. However, the upcoming expiry of performance guarantees over the next 5-10 years is expected to boost recycling volumes across newer geographies in Asia Pacific and Latin America regions.

Fastest Growing Regional Market

The Asia Pacific region, especially China, is expected to record the fastest value growth in the solar panel recycling market during the forecast period. This is because China dominates the global PV module production with over 80% share. As performance guarantees of these exported panels expire worldwide, their recycling will gain momentum. Moreover, the country is also ramping up its domestic solar capacity aggressively which will create a huge stock of end-of-life panels in future for recycling. Also, India and other Southeast Asian nations are emerging as top installation destinations for solar projects. So overall, the APAC region will witness the fastest recycling market growth on back of major production and installation activity as well as supportive policies being rolled out.

What Are The Key Data Covered In This Solar Panel Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Solar Panel's growth between 2024 and 2031.

:- Accurate calculation of the size of the Solar Panel and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Solar Panel Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Solar Panel vendors

FAQ’s

Q.1 What are the main factors influencing the Solar Panel?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Solar Panel companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Solar Panel’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)