According to IMARC Group’s latest report, titled “Solar Panel Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global solar panel recycling market size reached US$ 110.4 Million in 2021. Solar panel recycling is the process of collecting, decommissioning and sorting solar panels to reduce waste generation. It also prevents the release of hazardous substances from waste streams and lessens the greenhouse (GHG) gas emissions of photovoltaic (PV) modules. Recently, there has been rapid adoption of the solar panel recycling process as it purifies recovered materials to use in new panels or other components like glass foam.
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The increasing demand for renewable or sustainable energy sources due to the growing awareness among individuals about the benefits offered them represents the primary factor escalating the need for solar panel recycling. This method also lowers the overall cost of new panels and prevents human health risks. As a result, governing authorities of numerous countries are authorizing solar panel recycling processes and implementing various solar energy projects. Furthermore, with the rising environmental concerns, such as the degradation and early weathering of solar panels, several companies are determined toward technical advancements to enhance efficiency and service quality. Moreover, the growing usage of solar panels for power generation as an alternative to non-eco-friendly sources, and extensive investments in research and development (R&D) activities to advance recycling technology are also expected to provide a positive outlook to the market. Looking forward, IMARC Group expects the solar panel recycling market to reach US$ 302.9 Million by 2027, exhibiting a growth rate (CAGR) of 18.42% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Canadian Solar.
- Echo Environmental LLC (Envela Corporation)
- Envaris GmbH
- First Solar Inc.
- Hanwha Group
- Reclaim PV Recycling Pty Ltd
- Reiling GmbH & Co. KG
- SILCONTEL LTD
- Silrec Corporation
- SunPower Corporation (Total SE)
- Total Green Recycling
- Trina Solar.
Breakup by Process:
Breakup by Type:
- Crystalline Silicon
- Thin Film
Breakup by Material:
Breakup by Shelf Life:
- Normal Loss
- Early Loss
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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