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Global Solar Panel Recycling Market to Grow at a CAGR of 19.5% During 2024-2032, Aided by the Rapid Adoption of Solar Panels Across Industries

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Global Solar Panel Recycling Market Size, Share, Forecast: By Process: Thermal, Mechanical, Laser; By Type: Crystalline Silicon, Thin Film; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; 2024-2032

Global Solar Panel Recycling Market Outlook

The global solar panel recycling market is expected to grow in the forecast period of 2024-2032 at a CAGR of 19.5%.

Global Solar Panel Recycling Market

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Asia Pacific Market to Witness Healthy Growth Over the Forecast Period

The Asia Pacific region is expected to witness healthy growth in the coming years. India, China, and Japan make up for a considerable share of solar power generation in the region, and have a large amount of installation of solar panels. China and Japan are the major markets for solar panel recycling in the region, owing to the presence of manufacturing and technology hubs.

China has a substantial amount of patent filing due to huge investment in the research and development activities pertaining to recycling technology. Further, Europe is a significant market for solar panel recycling. The region has large quantities of end-of-life solar panels resulting in an increase in solar panel waste. Thus, increasing the demand for solar panel recycling.

Solar Panel Recycling: Market Segmentation

Solar panel is made up of photo-voltaic cells mounted in a framework for installation. Solar panels generate direct current electricity using sunlight as a medium of energy. Silicon panels are often crushed or shredded, and sent to different recycling processes depending on the type of material. In some cases, panels undergo a similar process of separation of components, but then have to go through a chemical separation process known as delamination to remove the polymer layer from the glass and semiconductor material.

Global Solar Panel Recycling Market by Segment

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The major process of solar panel recycling are:

Thermal
Mechanical
Laser

The market can be broadly categorised on the basis of its types into:

Crystalline Silicon
Thin Film

The EMR report looks into the regional markets of solar panel recycling like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Solar Panel Recycling Market by Region

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Technological Advancement in the Industry to Boost the Market Growth

Technological advancement in the industry, along with the cost-effectiveness of the product has increased the demand for solar panels. The prices of solar panels are declining, causing an increase in the number of installations of solar photovoltaic modules. The degradation of solar panels is responsible for the need to recycle the solar panels. This can happen due to maintenance issues, lack of product standardisation, and unfavourable weather conditions, among others. Growing awareness of customers' consciousness about renewable resources and sustainable living is driving the growth of solar panel recycling industry.

Nature is degrading at a very fast rate leading to an energy crisis. Decrease in conventional sources like nuclear energy, fossil fuels, boosts the growth of the industry. The government is providing various initiatives to promote the use of solar panels such as giving subsidies, which is beneficial for both, environment as well as users. Numerous countries are heavily investing in the research and development sector of renewable resources to combat the waste generated at the end of life of the photovoltaic modules. However, Covid-19 had negatively impacted the growth of solar panel recycling industry as industries are working on low capacities because the manufacturing and construction work halted. But with the lifting of restrictions and lockdowns, things are getting back to normal, and the demand for solar panel recycling is expected to rise in future.

Key Industry Players in the Global Solar Panel Recycling Market

The report presents a detailed analysis of the following key players in the global solar panel recycling market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

Canadian Solar, Inc.
First Solar, Inc.
Hanwha Group
JA Solar Co. Ltd.
SunPower Corporation
Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Scope of the Report	Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment: Process Type Region
Breakup by Process	Thermal Mechanical Laser
Breakup by Type	Crystalline Silicon Thin Film
Breakup by Region	North America United States of America Canada Europe United Kingdom Germany France Italy Others Asia Pacific China Japan India ASEAN Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa Saudi Arabia United Arab Emirates Nigeria South Africa Others
Market Dynamics	SWOT Analysis Porter's Five Forces Analysis Key Indicators for Demand Key Indicators for Price
Competitive Landscape	Market Structure Company Profiles Company Overview Product Portfolio Demographic Reach and Achievements Certifications
Companies Covered	Canadian Solar, Inc. First Solar, Inc. Hanwha Group JA Solar Co. Ltd. SunPower Corporation Others
Report Price and Purchase Option	Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format	Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Snapshot
   6.1   Global
   6.2   Regional
7   Opportunities and Challenges in the Market
8   Global Solar Panel Recycling Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Solar Panel Recycling Historical Market (2018-2023)
   8.3   Global Solar Panel Recycling Market Forecast (2024-2032)
   8.4   Global Solar Panel Recycling Market by Process
       8.4.1   Thermal
           8.4.1.1 Historical Trend (2018-2023)
           8.4.1.2 Forecast Trend (2024-2032)
       8.4.2   Mechanical
           8.4.2.1 Historical Trend (2018-2023)
           8.4.2.2 Forecast Trend (2024-2032)
       8.4.3   Laser
           8.4.3.1 Historical Trend (2018-2023)
           8.4.3.2 Forecast Trend (2024-2032)
   8.5   Global Solar Panel Recycling Market by Type
       8.5.1   Crystalline Silicon
           8.5.1.1 Historical Trend (2018-2023)
           8.5.1.2 Forecast Trend (2024-2032)
       8.5.2   Thin Film
           8.5.2.1 Historical Trend (2018-2023)
           8.5.2.2 Forecast Trend (2024-2032)
   8.6   Global Solar Panel Recycling Market by Region
       8.6.1   North America
           8.6.1.1 Historical Trend (2018-2023)
           8.6.1.2 Forecast Trend (2024-2032)
       8.6.2   Europe
           8.6.2.1 Historical Trend (2018-2023)
           8.6.2.2 Forecast Trend (2024-2032)
       8.6.3   Asia Pacific
           8.6.3.1 Historical Trend (2018-2023)
           8.6.3.2 Forecast Trend (2024-2032)
       8.6.4   Latin America
           8.6.4.1 Historical Trend (2018-2023)
           8.6.4.2 Forecast Trend (2024-2032)
       8.6.5   Middle East and Africa
           8.6.5.1 Historical Trend (2018-2023)
           8.6.5.2 Forecast Trend (2024-2032)
9   North America Solar Panel Recycling Market Analysis
   9.1   United States of America
       9.1.1 Historical Trend (2018-2023)
       9.1.2 Forecast Trend (2024-2032)
   9.2   Canada
       9.2.1 Historical Trend (2018-2023)
       9.2.2 Forecast Trend (2024-2032)
10   Europe Solar Panel Recycling Market Analysis
   10.1   United Kingdom
       10.1.1 Historical Trend (2018-2023)
       10.1.2 Forecast Trend (2024-2032)
   10.2   Germany
       10.2.1 Historical Trend (2018-2023)
       10.2.2 Forecast Trend (2024-2032)
   10.3   France
       10.3.1 Historical Trend (2018-2023)
       10.3.2 Forecast Trend (2024-2032)
   10.4   Italy
       10.4.1 Historical Trend (2018-2023)
       10.4.2 Forecast Trend (2024-2032)
   10.5   Others
11   Asia Pacific Solar Panel Recycling Market Analysis
   11.1   China
       11.1.1 Historical Trend (2018-2023)
       11.1.2 Forecast Trend (2024-2032)
   11.2   Japan
       11.2.1 Historical Trend (2018-2023)
       11.2.2 Forecast Trend (2024-2032)
   11.3   India
       11.3.1 Historical Trend (2018-2023)
       11.3.2 Forecast Trend (2024-2032)
   11.4   ASEAN
       11.4.1 Historical Trend (2018-2023)
       11.4.2 Forecast Trend (2024-2032)
   11.5   Australia
       11.5.1 Historical Trend (2018-2023)
       11.5.2 Forecast Trend (2024-2032)
   11.6   Others
12   Latin America Solar Panel Recycling Market Analysis
   12.1   Brazil
       12.1.1 Historical Trend (2018-2023)
       12.1.2 Forecast Trend (2024-2032)
   12.2   Argentina
       12.2.1 Historical Trend (2018-2023)
       12.2.2 Forecast Trend (2024-2032)
   12.3   Mexico
       12.3.1 Historical Trend (2018-2023)
       12.3.2 Forecast Trend (2024-2032)
   12.4   Others
13   Middle East and Africa Solar Panel Recycling Market Analysis
   13.1   Saudi Arabia
       13.1.1 Historical Trend (2018-2023)
       13.1.2 Forecast Trend (2024-2032)
   13.2   United Arab Emirates
       13.2.1 Historical Trend (2018-2023)
       13.2.2 Forecast Trend (2024-2032)
   13.3   Nigeria
       13.3.1 Historical Trend (2018-2023)
       13.3.2 Forecast Trend (2024-2032)
   13.4   South Africa
       13.4.1 Historical Trend (2018-2023)
       13.4.2 Forecast Trend (2024-2032)
   13.5   Others
14   Market Dynamics
   14.1   SWOT Analysis
       14.1.1   Strengths
       14.1.2   Weaknesses
       14.1.3   Opportunities
       14.1.4   Threats
   14.2   Porter’s Five Forces Analysis
       14.2.1   Supplier’s Power
       14.2.2   Buyer’s Power
       14.2.3   Threat of New Entrants
       14.2.4   Degree of Rivalry
       14.2.5   Threat of Substitutes
   14.3   Key Indicators for Demand
   14.4   Key Indicators for Price
15   Value Chain Analysis
16   Competitive Landscape
   16.1   Market Structure
   16.2   Company Profiles
       16.2.1   Canadian Solar, Inc.
           16.2.1.1   Company Overview
           16.2.1.2   Product Portfolio
           16.2.1.3   Demographic Reach and Achievements
           16.2.1.4   Certifications
       16.2.2   First Solar, Inc.
           16.2.2.1   Company Overview
           16.2.2.2   Product Portfolio
           16.2.2.3   Demographic Reach and Achievements
           16.2.2.4   Certifications
       16.2.3   Hanwha Group
           16.2.3.1   Company Overview
           16.2.3.2   Product Portfolio
           16.2.3.3   Demographic Reach and Achievements
           16.2.3.4   Certifications
       16.2.4   JA Solar Co. Ltd.
           16.2.4.1   Company Overview
           16.2.4.2   Product Portfolio
           16.2.4.3   Demographic Reach and Achievements
           16.2.4.4   Certifications
       16.2.5   SunPower Corporation
           16.2.5.1   Company Overview
           16.2.5.2   Product Portfolio
           16.2.5.3   Demographic Reach and Achievements
           16.2.5.4   Certifications
       16.2.6   Others
17   Key Trends and Developments in the Market

List of Key Figures and Tables

1.   Global Solar Panel Recycling Market: Key Industry Highlights, 2018 and 2032
2.   Global Solar Panel Recycling Historical Market: Breakup by Process (USD Million), 2018-2023
3.   Global Solar Panel Recycling Market Forecast: Breakup by Process (USD Million), 2024-2032
4.   Global Solar Panel Recycling Historical Market: Breakup by Type (USD Million), 2018-2023
5.   Global Solar Panel Recycling Market Forecast: Breakup by Type (USD Million), 2024-2032
6.   Global Solar Panel Recycling Historical Market: Breakup by Region (USD Million), 2018-2023
7.   Global Solar Panel Recycling Market Forecast: Breakup by Region (USD Million), 2024-2032
8.   North America Global Solar Panel Recycling Historical Market: Breakup by Country (USD Million), 2018-2023
9.   North America Global Solar Panel Recycling Market Forecast: Breakup by Country (USD Million), 2024-2032
10.   Europe Global Solar Panel Recycling Historical Market: Breakup by Country (USD Million), 2018-2023
11.   Europe Global Solar Panel Recycling Market Forecast: Breakup by Country (USD Million), 2024-2032
12.   Asia Pacific Global Solar Panel Recycling Historical Market: Breakup by Country (USD Million), 2018-2023
13.   Asia Pacific Global Solar Panel Recycling Market Forecast: Breakup by Country (USD Million), 2024-2032
14.   Latin America Global Solar Panel Recycling Historical Market: Breakup by Country (USD Million), 2018-2023
15.   Latin America Global Solar Panel Recycling Market Forecast: Breakup by Country (USD Million), 2024-2032
16.   Middle East and Africa Global Solar Panel Recycling Historical Market: Breakup by Country (USD Million), 2018-2023
17.   Middle East and Africa Global Solar Panel Recycling Market Forecast: Breakup by Country (USD Million), 2024-2032
18.   Global Solar Panel Recycling Market Structure

Key Questions Answered in the Report

What is the growth rate of the global solar panel recycling market?

The global solar panel recycling market is projected to grow at a CAGR of 19.5% between 2024 and 2032.

What are the major market drivers?

The major drivers of the market include the increasing installation of solar panels due to favourable government initiatives and surging R&D activities in recycling technology by key players.

What are the key trends of the market?

Technological advancements and innovations and the increasing requirement for renewable energy generation are the key trends guiding the market growth.

What are the major regional markets of solar panel recycling, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major segments based on processes of solar panel recycling considered in the market report?

Thermal, mechanical, and laser are the major segments based on processes of solar panel recycling considered in the market report.

What are the significant types of solar panel recycling included in the market report?

The significant solar panel recycling types included in the market report are crystalline silicon and thin film.

Who are the key market players, according to the report?

The major solar panel recycling market players include Canadian Solar, Inc., First Solar, Inc., Hanwha Group, JA Solar Co. Ltd., and SunPower Corporation, among others.

Analyst Review

The global solar panel recycling market is driven by the increasing adoption of renewable energy sources. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 19.5%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its process, the solar panel recycling industry can be segmented into thermal, mechanical, and laser. On the basis of types, the market is divided into crystalline silicon and thin film. The major regional markets for solar panel recycling are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Canadian Solar, Inc., First Solar, Inc., Hanwha Group, JA Solar Co. Ltd., and SunPower Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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