Press release
Solar Panel Recycling Market Revenue, Opportunity, Segment and Key Trends to 2023
In terms of value, mechanical process held the largest share in the solar panel recycling market during the historical period and is estimated to contribute more than 55.0% share to the market in 2017. This can be attributed to the fact that the process is highly efficient and environmentally safe.
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During the forecast period, thin-film PV recycling is expected to be the fastest-growing category in the solar panel recycling market, with a CAGR of 29.7% in value terms. The advantageous properties of thin-film solar panels, such as flexibility, light weight, and temperature resistance, are expected to drive their recycling market in the coming years.
In terms of revenue, the early-loss shelf life category of solar panels is estimated to contribute more than 80.0% share to the solar panel recycling market in 2017. This can be attributed to the increased use of these panels for recycling purposes due to factors such as exposure to harsh weather conditions and lack of routine maintenance.
During the forecast period, the solar panel recycling market is projected to witness the fastest growth in terms of value in APAC. Growing environment sustainability concerns and cost advantage of solar panel recycling in emerging economies, such as China and India, are expected to foster the market growth in APAC in the coming years.
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Growing energy crisis, high rate of carbon emissions, and increasing concerns for environmental protection have stimulated the need for sustainable power generation, globally. The growing number of pacts and initiatives related to the implementation of solar energy projects, across the world, is the main factor supporting the increased installation of solar panels or PV modules, which, in turn, is driving the solar panel recycling market.
Some of the major players operating in the global solar panel recycling market are Silcontel Ltd., Rinovasol Group, Reiling GmbH & Co. KG, ENVARIS GmbH, ECS Refining LLC, Reclaim PV Recycling Pty. Ltd., Silrec Corporation, Canadian Solar Inc., Yingli Green Energy Holding Company Limited, and First Solar Inc.
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