Solar Panel Recycling Market by Product and Geography - Forecast and Analysis 2020-2024

The solar panel recycling market size has the potential to grow by USD 238.30 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (crystalline and thin-film) and geography (Europe, APAC, North America, MEA, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Canadian Solar Inc., Dynamic Lifecycle Innovations, EIKI SHOJI Co. Ltd., ENVARIS GmbH, First Solar Inc., Reiling GmbH & Co. KG, REMA System, Rinovasol Global Services BV, Targray Technology International Inc., and VEOLIA ENVIRONNEMENT SA.

Market Overview

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Market Competitive Analysis

The market is fragmented. The market players are focused on R&D activities, leading to the development of more efficient recycling techniques, thus increasing the value addition from recycled materials. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this solar panel recycling industry analysis report is designed to aid clients to identify new growth opportunities and make informed business decisions. Canadian Solar Inc., Dynamic Lifecycle Innovations, and EIKI SHOJI Co. Ltd. are some of the major market participants. Although the growth in solar PV panel installation will offer immense growth opportunities, the challenges associated with product characteristics will impede the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this solar panel recycling market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this solar panel recycling market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Canadian Solar Inc.
• Dynamic Lifecycle Innovations
• EIKI SHOJI Co. Ltd.
• ENVARIS GmbH
• First Solar Inc.
• Reiling GmbH & Co. KG
• REMA System
• Rinovasol Global Services BV
• Targray Technology International Inc.
• VEOLIA ENVIRONNEMENT SA

Solar Panel Recycling Market: Segmentation by Geography

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APAC will offer several growth opportunities to market vendors during the forecast period. Factors such as the economic and environmental benefits of solar power will significantly drive solar panel recycling market growth in this region over the forecast period.

38% of the market’s growth will originate from APAC during the forecast period. Japan and China are the key markets for solar panel recycling in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Solar Panel Recycling Market: Segmentation by Product

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Crystalline PV panels are the most widely used type of solar PV panels globally owing to their higher cell efficiencies, long panel lifetimes, and space-efficient designs. The recent developments in the recycling of crystalline PV panels will also drive the global solar panel recycling market growth by crystalline PV panels during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the solar panel recycling market size.

Solar Panel Recycling Market: Key Drivers and Trends

Government regulations for solar waste recycling will be one of the crucial factors triggering the solar panel recycling market growth during the forecast period. While solar energy is considered as green and sustainable energy, solar PV panels and other equipment produce a lot of waste at the end-of-life phase. Therefore, the disposal and recycling of solar PV panels are critical. The Directive 2012/19/EU of the European Parliament and the Council of 4^th July 2012 released a directive on WEEE. According to this, it is required that solar PV producers finance end-of-life treatment of solar PV panels sold in Europe. Similarly, in the US, end-of-life disposal of solar products, which fail the Toxicity Characteristic Leaching Procedure, is governed by Federal RCRA and state policies. Such regulations and policies ensure efficient solar panel waste management and are propelling the solar panel recycling market growth. 

The growth in solar panel recycling R&D activities is one of the key solar panel recycling market trends. Raw materials recovered from solar PV panel recycling are often not of the quality needed to achieve optimum potential value. Therefore, R&D and technological skills are necessary to enable value creation from them. For instance, in Japan, the solar PV panel recycling technology developed under NEDO in 2014 allows automatic separation of different types of panels such as c-Si, thin-film Si, and copper indium selenide. Similarly, China sponsored R&D for solar PV panel recycling technologies, under its National High-tech R&D program for PV Recycling and Safety Disposal Research. Such R&D activities are leading to the development of more efficient recycling techniques and increasing the value of recycled materials. The solar panel recycling market forecast report predicts that fueled by these factors, the market will grow at a CAGR of over 28% during the forecast period.

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Solar Panel Recycling Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive solar panel recycling market growth during the next five years
• Precise estimation of the solar panel recycling market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the solar panel recycling industry across Europe, APAC, North America, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of solar panel recycling market vendors

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