Solar panel recycling market is anticipated to grow at a significant CAGR of 14.3% during the forecast period (2024-2031). The market growth is attributed to the increasing adoption of silicon-based PV solar panels containing silicon solar cells resulting in increased demand for solar panel recyclings globally. According to the American Chemical Society, in May 2022, More than 90.0% of photovoltaic (PV) panels rely on crystalline silicon and have a life span of about 30 years. Forecasts suggest that 8.0 million metric tons of these panels will have reached the end of their working lives by 2030, a tally that is projected to reach 80.0 million tons by 2050.
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Innovations in solar PV panel recycling are developing rapidly owing to the demand for sustainability and advances in technology. These inventive procedures, which make use of robotics and automation, make it possible to disassemble panels quickly and effectively, separating and recovering precious materials like silicon wafers, metals, and glass. This method is in line with the circular economy’s tenets since it reduces waste and makes it easier to reuse and repurpose components. Moreover, chemical recycling solutions are growing more and more common as a viable method of disassembling solar PV panels into their parts. Valuable components like silicon and silver can be extracted by dissolving encapsulating materials using solvent-based methods and chemical baths.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Solar Panel Recycling Market by Material
- Glass
- Plastic
- Aluminum
- Silicon
- Metals
Global Solar Panel Recycling Market by Product
- Silicon Based PV
- Thin Film PV
Global Solar Panel Recycling Market by Process
- Thermal
- Mechanical
- Chemical
- Combination
- Laser
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East & Africa
Company Profiles
- Aerisoul Metal & Energy Corp.
- Cleanlites Recycling
- Creative Energies
- Cyber Computer Recycling & Disposal PTY. LTD
- Eiki Shoji Co., Ltd.
- Elecsome
- Envaris GmbH
- GCL Technology
- INTERCO TRADING, INC.
- PV CYCLE
- Recycle1234
- Reiling GmbH & Co. KG
- Rinovasol Global Services B.V.
- SILCONTEL Ltd.
- Silrec Corp.
- Sinopower Holding (Hong Kong) Co. Ltd.
- Sinovoltaics Group Ltd.
- SOLARCYLE, Inc.
- We Recycle Solar
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global solar panel recycling market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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