rising popularity of solar panels in the residential, commercial, and industrial sectors is expected to drive market revenue growth during the forecast period
The global Solar Waste Recycling Market size was USD 300 Billion in 2022 and is expected to reach USD 1,011 Billion in 2032, and register a rapid revenue CAGR of 20.5% during the forecast period.
Rising demand for green energy sources and increasing number of solar panel installations around the world are major factors driving market revenue growth. Efficient and affordable recycling solutions are becoming more necessary as the usage of solar panels rises to reduce environmental contamination brought on by the disposal of used solar panels.
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Major Companies:
- First Solar Recycling LLC
- Reiling Glass Recycling GmbH & Co. KG
- Envaris
- SolarTech Universal LLC
- SunPower Corporation
- ReSolar
- WeRecycle Solar
- Recycle PV Solar
- Cleanlites Recycling Inc.
- Rinovasol Group
Key questions addressed in the report:
- What is the expected market size of the global Solar Waste Recycling market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Solar Waste Recycling market?
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Strategic Development:
- In 2021, First Solar Recycling LLC announced that it had signed an agreement with Veolia North America to recycle its solar modules. Under the agreement, Veolia North America will process First Solar’s decommissioned solar modules at its recycling facilities in Ohio and California. The partnership aims to recover 90% of the materials in First Solar’s modules, with the goal of achieving a zero-waste-to-landfill recycling process.
- In 2020, SunPower Corporation announced that it had launched a new recycling program for its solar panels. The program aims to recover more than 90% of the materials in SunPower’s solar panels, including silicon, aluminum, glass, and copper. The company has partnered with several recyclers to ensure that the materials are recycled responsibly.
- In 2020, Envaris announced that it had developed a new recycling technology that can recover up to 95% of the materials in solar panels. The technology uses a low-energy, low-temperature process that can recover the materials without causing any harm to the environment.
Solar Waste Recycling Market Segmentation:
By Panel Type Outlook:
- Monocrystalline
- Polycrystalline
- Thin Film
By Process Outlook:
- Mechanical
- Chemical
- Thermal
By Shelf Life Outlook:
- Short-term
- Long-term
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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