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Rising Demand for Renewable Energy Generates Notable Demand Avenues in Solar Panel Recycling Market: TMR

• The solar panel recycling market is foreseen to gain an output of ~894,000tons by end of 2027. It is expected to gather the valuation of ~US$ 600 Mn by 2027 end.
• Europe is one of the prominent regions driving growth of the solar panel recycling market.

Transparency Market Research, New York: Photovoltaic (PV) technology is one of the widely utilized technologies used to alleviate the impact of climate change as well as to improve the energy security. Generally, solar panels can work with good efficiency for around 20–25 years. After that, they are replaced with new ones. The photovoltaic modules hold heavy metal in them. Therefore, instead of sending to landfills, they are recycled. This scenario shows the potential for the growth of the solar panel recycling market in the years ahead.

The solar panel recycling market is all set to show growth at a substantial CAGR of ~37% in the tenure of 2019 to 2027. Major players are expected to concentrate on their business expansion in Europe. Key reason attributed to this scenario is the presence of dependable recycling infrastructure in the region.

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Key Findings of Solar Panel Recycling Market Report

• The solar panel recycling market is foreseen to grow at a CAGR of 37% during the tenure of 2019 to 2027.
• The market will gather the valuation of value of ~US$ 600 Mn by 2027 end.
• It is predicted to gain an output of ~894,000tons by end of 2027.
• Among all products, silicon-based products are expected to show prominent revenue generation opportunities in the years ahead.
• On regional front, Asia Pacific accounted for noteworthy market share in 2018.
• Europe is expected to show remarkable expansion opportunities in the market during forecast period of 2019 to 2027.
• The nature of solar panel recycling market is extremely consolidated.

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Solar Panel Recycling Market: Key Driving Factors and Promising Avenues

• In recent period, there is remarkable growth in demand for renewable energy in the power generation mix. Key reasons attributed to this scenario are growing awareness about the impact of climate change and increased need for fossil fuel conservation.
• Increased worldwide population, growth of the industrial sector, and rising infrastructure development activities are highlighting increased demand for electricity. As a result, major countries from all across the word are increasing their capabilities to generate electricity. Many companies are strengthening the capacity of their present plants or installing new plants. These moves are helping them to cater to the towering need of electricity.
• Companies are growing interest in the development of cost-effective renewable energy generation sources owing to strict government policies related to greenhouse gas emission.
• Thus, rise in demand for electricity across the globe is expected to provide new opportunities in the global solar panel recycling market during the tenure of 2019 to 2027.

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Solar Panel Recycling Market: Competitive Assessment

Major players in the global solar panel recycling market are growing focus on research activities. The main motive of these moves is to find out innovative and cost-effective ways for the recycling process of solar panels. This aside, many vendors are collaborating with research institutes to accelerate these research activities. All these moves are helping industry leaders maintain their prominent position in the global solar panel recycling market.

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The list of key players in the global solar panel recycling market comprises following names: PV Recycling, Morgen Industries, Inc., Silcontel Ltd, Reclaim PV Recycling, ECS Refining LLC, Envaris, SunPower Corporation, Total Green Recycling, and Recycle Solar Technologies Limited.

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The Solar Panel Recycling Market can be segmented as follows:

Process

• Thermal
• Mechanical
• Chemical
• Combination
• Laser

Material

• Glass
• Plastic
• Aluminum
• Silicon
• Metal

Product

• Silicon-based PV
• Thin Film PV
• Others (including Amorphous Silicon)

Region

• North America
• Europe
• Latin America
• Asia Pacific
• Middle East & Africa

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