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Solar Panel Recycling Market: Introduction
- The global solar panel recycling market was valued at ~US $ 40 Mn in 2018 and is expected to expand to a CAGR of ~ 37% during the forecast period
- Based on the process, the combination segment dominated the global solar panel recycling market in 2018. It includes the combination of different processes such as thermal, chemical and mechanical.
- By product, the silicon-based photovoltaic segment was the dominant share of the global solar panel recycling market in 2018. Silicon-based photovoltaic energy has a large installed base; As a result, silicon-based photovoltaic solar panels are estimated to have a large share in the solar panel recycling market in the near future.
- Based on the material, the glass segment had a significant share of the global solar panel recycling market in 2018. It consists of most of the solar module in general and can be recycled up to 95% of total waste.
- The solar panel recycling market in Europe is projected to expand at a substantial rate over the forecast period, due to the high installed base of solar panels in the region.
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Key Drivers of Solar Panel Recycling Market
- The increase in the number of end-of-life solar panels worldwide is anticipated to drive the solar panel recycling market over the forecast period.
- The deployment of photovoltaic solar panels has increased significantly. Photovoltaic solar modules have a useful life of approximately 25 to 30 years.
- The number of PV modules reaching the end of their useful life is likely to increase substantially after the lapse of operating time and decrease in efficiency, resulting in the generation of waste.
- Sustainable waste management provides the benefits of the 3Rs: reduce, reuse and recycle. When a product cannot be repaired or reused, recycling is the next preferable option before disposal as waste.
- Solar panel recycling has become a major emerging market, due to the presence of a large volume of waste photovoltaic modules
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Europe offers lucrative opportunities to the solar panel recycling market
- Europe is expected to be a very attractive region of the global solar panel recycling market during the forecast period. The solar panel recycling market in Europe is estimated to expand at a significant rate between 2019 and 2027, as the region has the largest installed base of solar energy. The increase in the number of solar panels at the end of their useful life is expected to result in an increase in waste from solar panels. Therefore, the demand for recycling solar panels is expected to increase in Europe in the near future.
Main developments in the solar panel recycling market
- In January 2019, The Ministry of New and Renewable Energy (MNRE), India, proposed to follow the glass recycling procedure for solar photovoltaic (PV) panels under a new framework. It is expected to be mandatory for solar energy developers. Producers would be responsible for ensuring end-of-life glass panel recycling as part of their extended liability, as in the case of e-waste, which covers used lead-acid batteries, packaging materials, etc.
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Solar Panel Recycling Market Competition Overview
- The world market for recycling solar panels is very consolidated. Some international players have a significant share in the global solar panel recycling market.
- The main players operating in the global solar panel recycling market are Morgen Industries, Inc., PV Recycling, Reclaim PV Recycling, Silcontel Ltd, Reiling Glasrecycling Danmark ApS, ECS Refining LLC, Envaris, SunPower Corporation, Reclaim PV Recycling Pty Ltd, First Solar, Recycle Solar Technologies Limited and Total Green Recycling
Global Solar Panel Recycling Market: Segmentation
Solar Panel Recycling Market, by process
- Thermal
- Mechanic
- Chemical
- Combination
- To be
Solar Panel Recycling Market, by Product
- Silicon-based PV
- Thin film PV
- Others (including amorphous silicon)
Solar Panel Recycling Market, by Material
- Glass
- The plastic
- Aluminum
- Silicon
- Metal
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