This report is a detailed analysis of the global solar panel recycling industry. It examines process categories, key drivers, emerging trends and major players in each category and provides market estimates. The report also analyses the companies and regions and highlights and elaborates on the influence of government regulations, current technology and economic factors in this marketplace. It also provides the facts, figures and statistics required to evaluate stable market aspects and the industry’s current trends and projections. The report also focuses on market analyses through different viewpoints such as ESG (Economical, social and governance) analysis, patent analysis, and emerging trends.
The global solar panel recycling industry scope is as follows:
- By Process (Chemical, Thermal and Laser)
- By Technology (Silicon-based (c-Si), Thin-film and Other)
- By Shelf-life (Regular Loss and Early Loss)
All market data are expressed in current U.S. dollars.
Report Includes
- 21 data tables and 63 additional tables
- A comprehensive overview and an up-to-date analysis of the global solar panel recycling market
- Analyses of the global market trends, with market revenue (sales figures) for 2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Discussion of the market growth drivers, opportunities and restraints in the solar panel recycling industry, along with the regulatory dynamics, manufacturing trends, upcoming technologies, and future trends & innovations
- Estimation of the actual market size and revenue forecast for global solar panel recycling market in USD million values, and corresponding market share analysis based on the process, technology, shelf life, and region
- Review of the industry supply chain analysis for solar panel recycling market providing a systematic study of key intermediaries involved, with emphasis on manufacturers, suppliers, and major type of end users of these products
- A look at the environmental, social, and governance (ESG) standards in solar panel recycling industry and recent ESG specific developments in global market
- Review of the key patent grants and recent patent applications on solar panel recycling, with emphasis on emerging technologies and new developments within the marketplace
- Updated information on recent merger and acquisition (M&A) activities, venture fundings, and other impactful growth strategies in the global solar panel recycling market
- Identification of the key players operating in the market, and analysis of their competitive landscape based on recent developments, segmental revenues, and operational integration
- Company profiles of major players within the industry, including Aurubis AG, First Solar, Trina Solar, Reclaim PV Recycling, and Veolia Environnement S.A.
Table of Contents
Executive Summary
The world's solar energy generation capacity has been growing at an average of 22% since 2021 and is estimated to grow by ~25% by 2028. Solar energy makes up over 3% of the global electricity mix, and the world’s energy systems are making more space for renewable energy. Solar photovoltaic (PV) capacity grew more than 750-fold in just two decades in this energy transition. As per the International Energy Agency (IEA), the global PV capacity grew from 1.4 GW (Gigawatt) in 2000 to 760 GW in 2020.
Furthermore, in just two years after astonishing growth, the global PV capacity exceeded new heights of 1 TW (Terawatt) and reached about 1.2TW by the end of 2022. China dominated the industry with the largest installed capacity in both types, new and cumulative, with its cumulative installed capacity reaching more than 400 GW. Following China, countries with a significant share in PV installations are the U.S., Japan, Germany, India, Australia, Italy, Brazil, the Netherlands, and South Korea.
The renewable energy market continues to expand, and recycling processes will play an increasingly important role. An astounding growth of the solar industry brought in a high number of panel installations, which started to take off in the 2000s, and with a lifespan of around 25 years of solar panels - countries are now approaching the first big wave of discarded solar panels. Solar panel recycling is still at an early stage and a young industry, as most of the current solar capacity has been added within the past ten years. The long life of solar panels provides an opportunity for innovation and growth in the panel recycling market.
Current PV waste volumes remain low as modules have a lifetime of ~30 years. However, as global PV deployment continues to grow and more modules reach the end of their useful life over the next 10-20 years, PV waste will increase nearly 40-fold by 2030. Leading solar markets such as China, the US, Germany, Japan and India are expected to witness a massive pile-up of projected PV waste streams. The market value of recyclable materials generated from solar panels is estimated at $2.7 billion by 2030 from $170 million in 2022. Hence, a lucrative economic opportunity to create employment and a new industry from scrap panels. The solar panel recycling industry requires immense support from the
government in terms of funded projects, research and development, subsidies, and public awareness.
The market for solar panel recycling is expected to grow at an estimated 36.8% compound annual growth rate (CAGR) globally from 2023 through 2028, fueled by increasing solar panel installations, supportive government policies for the safe disposal of solar panels and rising environmental concerns. The global market for solar panel recycling will reach $1.7 billion in 2028. Among all the regions, the Asia-Pacific region is and will remain the largest market for solar panel recycling by 2028. The current market share of the APAC region is over 36.7%, followed by Europe at 31.2% and North America at 20.5%. The same trend is expected to continue into the year 2028, with some minor distribution percentage changes among the different regions.
In terms of process, the thermal segment is the largest segment of the solar panel recycling industry, comprising 58.4% of the market, followed by chemical with a 27.6% share in 2022. Based on technology, the market is segmented into various categories such as silicon-based, thin-films and others. These segments have been explained in detail in the report; among these segments, silicon-based segments held over 69.9% of the market share in 2022.
Companies Mentioned
- Aerisoul Metal & Energy Corp. S.R.O.
- Aurubis AG
- Cascade Eco Minerals LLC
- First Solar
- Nth Cycle Inc.
- Reclaim Pv Recycling
- Rosi Solar
- Solarcycle Inc.
- The Retrofit Companies Inc.
- Trina Solar Co. Ltd.
- Veolia Environnement S.A.
- We Recycle Solar, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 146 |
| Published | August 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 0.36 Billion |
| Forecasted Market Value ( USD | $ 1.72 Billion |
| Compound Annual Growth Rate | 36.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
