Solar Panel Recycling Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Solar Panel Recycling Market Share and the market is segmented by process (thermal, mechanical, and laser), type (crystalline silicon and thin film), and geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa).

Solar Panel Recycling Market Size

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Solar Panel Recycling Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR > 18.00 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration High

Major Players

Solar Panel Recycling Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Solar Panel Recycling Market Analysis

The global solar power recycling market is expected to register a CAGR of more than 18% during 2020-2025. Factors, such as rising environmental concerns and government policies for safe disposal of solar panels, are expected to be major factors driving the market. However, lack of general awareness and interest in the developing nations of the Asia-Pacific region are expected to restrain the market's growth.

The crystalline silicon segment is expected to dominate the market for solar panel recycling, due to higher number of installations, globally.

The aging older installations are expected to act as an opportunity for the solar panel recycling market.

The Asia-Pacific region is expected to be the largest and the fastest growing market, owing to the largest share in terms of solar power generation and the presence of manufacturing and technology hubs, such as China and Japan.

Solar Panel Recycling Market Trends

This section covers the major market trends shaping the Solar Panel Recycling Market according to our research experts:

Crystalline Silicon to Dominate the Market

Globally, solar power generation increased from 33.7 TWh in 2010 to 584.6 in 2018, and it is expected to witness a significant growth over the forecast period. Out of this, over 90% of the installations are of crystalline silicon type.

These modules are built using crystalline silicon solar cells, which are developed using the microelectronics technology. The two types of crystalline silicon solar cells used in crystalline silicon photovoltaic are monocrystalline silicon and polycrystalline silicon.

In the European Union, the legislation (Directive 2002/96/EC on WEEE) was formulated to create collection schemes where consumers return their used waste equipment free of charge. The directive is aimed at increasing the recycling and/or re-use of such products. The target set by the directive includes the collection of 4 kilograms of such waste per year per inhabitant for waste electrical and electronic equipment (WEEE) from households.

China started the PV recycling and safety disposal research program. Moreover, the country drafted various rules and regulations for solar panel recycling.

The above-mentioned factors are expected to drive the demand for solar panel recycling over the study period.

Solar Panel Recycling Market : Installed Solar PV Capacity Share (%), by Type, Global, 2019

Asia-Pacific to Dominate the Market Growth

The Asia-Pacific region is expected to witness the fastest growth rate in the solar panel recycling market, with China being the largest market.

With the rising pollution concerns and industrialization, especially in Asia-Pacific, the regional solar power generation capacities gained considerable momentum.

The Chinese solar power market is expected to dominate, in terms of utility, and the country is seeking to boost the demand for rooftop solar installations. The electricity market has been deregulated in the country, and distribution-grid-connected (DGC) generators were allowed to sell the power directly to the commercial and industrial consumers.

Countries, such as China and India, are some of the major solar power generating countries in the region, along with a large amount of installations for solar panels.

China manufactures over 45% of the solar panels, globally. Furthermore, the solar panel recycling market is gaining momentum, owing to the older and aging installed infrastructure.

Owing to the above-mentioned factors, the demand for solar panel recycling has been increasing over the study period.

Solar Panel Recycling Market: Growth Rate by Region, 2020-2025

Solar Panel Recycling Industry Overview

The global solar panel recycling market is fragmented due to the presence of numerous players. Some of the major companies include Trina Solar, Sharp Corporation, First Solar, JA Solar Co., Ltd, Canadian Solar Inc., and Renesola, among others

Solar Panel Recycling Market Leaders

  1. Trina Solar

  2. Sharp Corporation

  3. First Solar Inc.

  4. Sunpower Corporation

  5. Reiling Group

*Disclaimer: Major Players sorted in no particular order

Solar Panel Recycling Market Concentration
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Solar Panel Recycling Market Report - Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry


    1. 5.1 Process

      1. 5.1.1 Thermal

      2. 5.1.2 Mechanical

      3. 5.1.3 Laser

    2. 5.2 Type

      1. 5.2.1 Crystalline Silicon

      2. 5.2.2 Thin Film

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 South America

      5. 5.3.5 Middle East & Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Canadian Solar Inc.

      2. 6.3.2 First Solar Inc.

      3. 6.3.3 Hanwha Group Co. Ltd

      4. 6.3.4 JA Solar Co. Ltd

      5. 6.3.5 Reclaim PV Recycling Pty Ltd

      6. 6.3.6 Reiling Group

      7. 6.3.7 Renesola

      8. 6.3.8 Sharp Corporation

      9. 6.3.9 SunPower Corporation

      10. 6.3.10 Trina Solar

      11. 6.3.11 Yingli Energy Co. Ltd

    4. *List Not Exhaustive

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Solar Panel Recycling Industry Segmentation

The solar panel recycling market report includes:

Crystalline Silicon
Thin Film
North America
South America
Middle East & Africa
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Solar Panel Recycling Market Research FAQs

The Solar Panel Recycling Market is projected to register a CAGR of greater than 18% during the forecast period (2024-2029)

Trina Solar , Sharp Corporation , First Solar Inc., Sunpower Corporation and Reiling Group are the major companies operating in the Solar Panel Recycling Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Europe accounts for the largest market share in Solar Panel Recycling Market.

The report covers the Solar Panel Recycling Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Solar Panel Recycling Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The crystalline silicon type segment holds the maximum share of the Solar Panel Recycling Market.

Solar Panel Recycling Industry Report

The global solar panel recycling market is witnessing significant growth, propelled by the surge in solar energy adoption and the imperative for sustainable waste management. Dominated by thermal and mechanical processes for their material recovery efficiency, the market sees crystalline silicon panels leading due to their prevalence and superior efficiency. Europe stands out for its rigorous environmental laws and renewable energy emphasis. Challenges like insufficient recycling infrastructure and lack of regulatory support persist, yet the sector is on the brink of expansion, driven by initiatives to minimize carbon footprints and escalate renewable energy investments. Innovations in recycling technology and heightened awareness of solar waste's environmental impact promise substantial growth opportunities. Mordor Intelligence™ Industry Reports highlight the market's dynamic expansion, offering insights into share, size, revenue growth, and a forecast outlook. For a comprehensive understanding, access a free report PDF download, encapsulating the market's historical and projected performance.

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Solar Panel Recycling Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)