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Pulished Date October, 2020
ID: 10344
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Solar Panel Recycling Market Segmentation by process (Mechanical and Laser), product (Monocrystalline Solar Panel, Thin Film) and Region - Industry Forecast to 2025

Pulished: October, 2020
ID: 10344
Pages: 175

Solar Panel Recycling Market size, share, growth Analysis:

Solar energy, in particular photovoltaic (PV) technology, currently has a market share of 23% in the global renewable energy market. The size of the global solar panel recycling market was valued at $ 350 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 13.2% from 2020 to 2025 due to growing preference for renewable energy sources and strict environmental standards. Continued profitable technical advancements will drive solar panel adoption, which in turn will improve market prospects.Solar energy has been widely integrated into the existing energy mix over the last decade. Solar panels used in buildings, terrestrial or floating solar panels have an expected average life of 30 years. These panels often contain cadmium, lead, and various toxic chemicals. Therefore, it is essential to recycle or eliminate these toxic elements from the environment to avoid dangerous altercations. According to recent studies, the world's installed solar capacity has increased from 227 GW in 2016 to 500 GW in 2020. Falling prices for solar panels and support for government policies and initiatives for cleaner, more reliable sources of electricity and reliable. Affordable prices are dramatically driving solar panel adoption around the world.

Higher numbers of end-of-life solar panels are creating a demand for recycling activities in the United States. Therefore, companies in the solar panel recycling market are focusing on value recovery opportunities in the United States. As such, the market is expected to reach a value of $ 600 million by the end of 2025. There is growing demand for the purpose of solar panel management in the United States. Also, California had taken the lead to head solar power generation in the country in 2019. For this reason, companies in the solar panel recycling market are redoubling their efforts to manage and recycle the waste generated by solar panels at the end of their useful life. The prolonged period of technology development and policy management associated with panels has led to an increase in solar panel recycling activities in the U.S. The growth of the world population, the expansion of the industrial sector, and the rise in business infrastructure development stimulates demand for solar panel recycling.

Solar Panel Recycling Market Recent Developments:

French water and waste group Veolia has launched what it claims to be the first solar panel recycling plant in Europe and aims to build more as thousands of tons of aging solar panels are expected to end their lives in the coming years.

Impact of Covid 19 on Solar Panel Recycling:

The COVID-19 (coronavirus) outbreak has caused a slowdown in the global solar panel recycling market. China, with the largest number of photovoltaic installations, as well as the production of photovoltaic solar panels has been the source for this pandemic. This phenomenon is expected to affect the global solar supply chain. However, the COVID-19 outbreak has crippled electricity demand and production, which could slow the growth of the Chinese solar panel recycling market. Additionally, the country is experiencing a wave of low-capacity additions due to the suspension of manufacturing and construction jobs. As such, it is estimated that the solar panel recycling market will reach a production of around 894,000 tons in 2025. Therefore, companies in the market landscape are considering other supply routes to stay afloat in the business.

Solar Panel Recycling Market Drivers:

Solar panels have a useful life of 20 to 25 years, they must be replaced after that. Photovoltaic modules carry heavy metals and therefore cannot be dumped in landfills. Therefore, the solar panel recycling market offers significant potential. The solar panel can be disassembled into different components and can be recycled by various processes, such as mechanical, thermal, chemical, laser, and combination. Therefore, the increase in solid waste is expected to boost the global solar panel recycling market. Solar energy is inexpensive and environmentally friendly. As a result, the demand for solar energy is increasing around the world. There are new methods that accelerate recycling rates, while companies can collaborate with researchers to gain a competitive advantage in the market landscape.

Solar Panel Recycling Market Restraints:

Lack of awareness and general interest in developing countries in the Asia-Pacific region is expected to hold back market growth. The expense of recycling is higher than that of the landfill and the value of recovered materials is less than the original, so interest in recycling is limited. Recycling solar panels is still very expensive, researchers are experimenting with new recycling methods. Solar panel waste is likely to generate 210 times more toxic waste per unit of energy when compared to nuclear power plants. The waste contains silicon, cadmium, lead, and other toxic chemicals (including carcinogens) that cannot be removed without breaking the entire panel.




Market Size Available

2019 – 2025

Base Year


Forecast Period

2020 - 2025



Segments Covered

By Product, Type, By Application and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa



Market Leaders Profiled

First Solar, Echo Environmental, Silicontel Ltd, Canadian Solar Inc., Silrec Corporation, Beijing Super Silicon Materials Recycling Co., Ltd., Suzhou Huizhijie Photovoltaic Technology Co.Ltd., Shanghai Yuzong Photovoltaic Technology Co. Ltd., SunPower Corporation, Reiling GmbH & Co. KG, Trina Solar, Aurubis, Envaris, SiC Processing GmbH, Yingli Energy Co. Ltd., and Hanwha Group, among others


Solar Panel Recycling Market


Solar Panel Recycling Market Segmentation:

Based on process, the mechanical process accounted for the largest revenue share of over 57% in 2019 and is expected to continue to develop at a noteworthy growth rate from 2020 to 2025. However, the laser process segment is expected to record the fastest CAGR Both in terms of revenue and volume, during the forecast period it is expected to promote market growth throughout the forecast years.

Based on product, the monocrystalline solar panel recycling type is expected to generate the highest revenue share of over 60% in 2020. These panels are made with unique crystalline silicon. Thin film solar panels are expected to emerge as the fastest growing product segment during the projection period due to the active performance and low cost of these panels.

Solar Panel Recycling Market Regional Analysis:

Research and development on solar panel recycling is mainly carried out in Germany, France, Italy, Japan and the United States of America. Most efforts in this regions focus on solar panels to recover and recycle silicon and rare metal elements. Europe accounted for the majority of revenues in 2019. It is estimated that it will continue to develop at a significant growth rate from 2020 to 2025, as the region has the maximum number of installed bases of solar parks, which would lead to a grand finale of the life. Solar panels in the coming years. In Germany, the market is expected to exceed $ 70.0 million by 2025 due to technological advances and comprehensive government waste management regulations. Asia-Pacific is expected to be the fastest growing regional market from 2020 to 2025. China and Japan are the main revenue generators in the APAC market. At present, China has the highest number of solar panel recycling patent applications due to the increasing investment in recycling technology research and development.

Competitive Landscape:             

First Solar, recently broadcasted its commitment to power all of its global solar photovoltaic (PV) manufacturing operations with renewable energy by 2028. As part of an interim target, the company has committed to convert its facilities in the United States to carbon-free electricity by 2025.

Key Players:

Some of the key companies operating in the market include First Solar, Echo Environmental, Silicontel Ltd, Canadian Solar Inc., Silrec Corporation, Beijing Super Silicon Materials Recycling Co., Ltd., Suzhou Huizhijie Photovoltaic Technology Co.Ltd., Shanghai Yuzong Photovoltaic Technology Co. Ltd., SunPower Corporation, Reiling GmbH & Co. KG, Trina Solar, Aurubis, Envaris, SiC Processing GmbH, Yingli Energy Co. Ltd., and Hanwha Group, among others

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 Solar Panel Recycling Market, By Process                    

                             6.1.1 Mechanical           

                             6.1.2 Laser        

                             6.1.3 Market Size Estimations & Forecasts (2019-2024) 

                             6.1.4 Y-o-Y Growth Rate Analysis            

                             6.1.5 Market Attractiveness Index          

              6.2 Solar Panel Recycling Market, By Product                   

                             6.2.1 Monocrystalline Solar Panel          

                             6.2.2 Thin Film 

                             6.2.3 Market Size Estimations & Forecasts (2019-2024) 

                             6.2.4 Y-o-Y Growth Rate Analysis            

                             6.2.5 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            



                             7.2.2 By Process             

                             7.2.3 By Product             

              7.3 Europe                      

                             7.3.1 By Country            






                                  Rest of Europe

                             7.3.2 By Process             

                             7.3.3 By Product             

              7.4 Asia Pacific                

                             7.4.1 By Country            




                                  South Korea

                                  South East Asia

                                  Australia & NZ

                                  Rest of Asia-Pacific

                             7.4.2 By Process             

                             7.4.3 By Product             

              7.5 Latin America                         

                             7.5.1 By Country            




                                  Rest of Latin America

                             7.5.2 By Process             

                             7.5.3 By Product             

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                  Middle East


                             7.6.2 By Process             

                             7.6.3 By Product             

8. Key Player Analysis                                

              8.1 First Solar                  

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 Echo Environmental                            

              8.3 Silicontel Ltd                           

              8.4 Canadian Solar Inc                

              8.5 Silrec Corporation                 

              8.6 Aurubis                     

              8.7 Hanwha Group                      

              8.8 SunPower Corporation                       

              8.9 Reiling GmbH & Co. KG                       

              8.10 Trina Solar              

9. Market Outlook & Investment Opportunities                             


              List of Tables                   

              List of Figures                 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  • Global Solar Panel Recycling Market By Region, From 2020-2025 ( USD Billion )
  • Global Solar Panel Recycling Market By Process, From 2020-2025 ( USD Billion )
  • Global Mechanical Market By Region, From 2020-2025 ( USD Billion )
  • Global Laser Market By Region, From 2020-2025 ( USD Billion )
  • Global Solar Panel Recycling Market By Product, From 2020-2025 ( USD Billion )
  • Global Monocrystalline Solar Panel Market By Region, From 2020-2025 ( USD Billion )
  • Global Thin Film Market By Region, From 2020-2025 ( USD Billion )

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