PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1756517
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1756517
The solar panel recycling market size is projected to grow from USD 0.46 billion in 2025 to USD 1.12 billion by 2030, registering a CAGR of 19.5% during the forecast period.
Scope of the Report | |
---|---|
Years Considered for the Study | 2021-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million/Billion) |
Segments | Type, Shelf life, Process, Material, and Region |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and South America |
Demand for solar panel recycling is spurred by various drivers, such as the high rate of solar energy installation across the globe, which leads to the generation of high quantities of end-of-life solar panels in need of environmentally friendly disposal. Concerns over electronic waste and the negative effects of harmful disposal further drive recycling efforts. Moreover, the strict government policies and regulations in Europe, North America, and Asia require the environmentally responsible waste management of solar panels, which supports recycling. Economic benefits are also important, as recoverable materials such as silicon, silver, aluminum, and glass can be reused and recycled, limiting raw material extraction.
" Polycrystalline segment to be the fastest-growing type of the solar panel recycling market in terms of value during the forecast period, (2025-2030)"
Polycrystalline solar panels is projected to be the fastest-growing type of the solar panel recycling market mainly because they are most commonly used and have a lower operational life compared to monocrystalline solar panels. Polycrystalline panels have traditionally been cheaper and less difficult to manufacture, resulting in their large-scale implementation in commercial solar installations in emerging and developed economies. Consequently, they capture a large portion of the world's installed solar capacity. However, polycrystalline panels generally have reduced efficiency and shorter lifespans than monocrystalline panels and result in earlier replacement cycles and increased volumes of waste at the end-of-life stage. It is this increasing number of retired polycrystalline panels that is driving demand for effective recycling solutions. Regulatory policies in economies such as Europe, North America, and Asia are further encouraging the recycling of older panels, especially those made from polycrystalline silicon.
"Early loss is projected to be the fastest-growing shelf life segment of the solar panel recycling market in terms of value, during the forecast period, (2025-2030)"
The early loss segment is the most rapidly growing in the solar panel recycling industry because of the increasing number of solar panels decommissioned early. The causes of early loss include defects at the manufacturing stages, low-quality materials, faulty installation, extreme weather conditions, and accidental damage during handling or maintenance. As global solar uptake gains pace, particularly in markets with ambitious deployment targets, the sheer volume of installations increases the likelihood of early failures. Panels tend to be replaced in fewer than five years of operation due to performance degradation, safety reasons, or because more efficient technology is available. This creates large quantities of solar waste earlier than expected, prompting the urgent need for proper recycling methods. Additionally, utility-scale solar projects tend to undergo partial failures wherein the defective panels are replaced in batches, adding to the early loss volume.
"Mechanical to be fastest-growing process segment of solar panel recycling market in terms of value, during the forecast period, (2025-2030)"
Mechanical recycling is the most rapidly growing segment in the solar panel recycling industry because it is cost-effective, scalable, and easy to operate. This is done through the physical dismantling of the solar panels via shredding, crushing, and sorting methods to retrieve materials like aluminum frames, glass, copper wiring, and junction boxes. In contrast to chemical or heat processes, mechanical recycling does not involve costly machinery or toxic chemicals, thus, is more economically and environmentally friendly for mass application. In addition, materials recycled through mechanical recycling, particularly aluminum and glass, can be used directly in other industries as in a circular economy. Regulations by governments and recycling requirements in regions such as Europe and North America are also driving the use of standardized, low-cost recycling technologies, such as mechanical separation. Further, improvements in automation and material sorting technologies are also increasing the recovery rates and profitability of mechanical recycling.
"Metal to be the fastest-growing material segment of the solar panel recycling market in terms of value, during the forecast period, (2025-2030)"
Metals represent the most rapidly expanding material segment of the solar panel recycling industry because they hold high economic value, strong industrial demand, and ease of recovery in comparison to other elements. Solar panels are composed of several precious metals, including aluminum, copper, and silver. Aluminum is commonly used for panel frames, copper is utilized in electrical wiring and connections, and silver is utilized in photovoltaic cells for the transmission of electricity. As the numbers of retired solar panels rise, the potential to reclaim the metals has become increasingly appealing to manufacturers and recyclers. The premium market prices for copper and silver, in particular, make their recovery economically feasible and lucrative even from the smaller amounts recovered. These metals are also crucial to various industries, such as electronics, automotive, and renewable energy, which guarantee constant demand. Technological innovations in the recycling technology are enhancing the effectiveness and accuracy of metal recovery, thus further contributing to the growth of this sector. Moreover, increasing worldwide focus on the conservation of resources and principles of circular economy are promoting the recovery and reuse of metals to avoid dependence on mining and minimize environmental deterioration.
"North America is projected to be the fastest-growing region in the solar panel recycling market in terms of value, during the forecast period, (2025-2030)"
North America, and specifically the US, is the most rapidly expanding market in solar panel recycling as a result of the synergy of very high growth rates in solar installations, developing regulatory landscapes, and increased environmental consciousness. The US has experienced exponential growth in solar capacity during the last decade on the basis of government incentives, reducing costs of photovoltaic technology, and robust corporate and consumer demand for clean energy. Consequently, considerable numbers of solar panels are reaching the end of their lifespan, leading to the urgent requirement for effective recycling mechanisms. Furthermore, the US federal government and some states have started imposing increasingly stringent regulations and policies for dealing with electronic waste, including solar panels, to reduce the negative impacts on the environment and ensure the sustainable use of resources. Extended Producer Responsibility (EPR) programs and solar panel waste landfill bans in states such as California and Washington are prompting manufacturers and installers to use recycling programs, driving further market development. Public and private investments in state-of-the-art recycling technologies are also on the rise, enhancing recovery rates of valuable materials, including silicon, glass, and metals. In addition, increased corporate and consumer focus on the circular economy and sustainability principles is spurring demand for responsible end-of-life management of solar products.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the solar panel recycling market, and information was gathered through secondary research to determine and verify the market size of several segments.
The solar panel recycling market comprises major players, such as First Solar (US), Reiling GmbH & Co. KG (Germany), The Retrofit Companies, Inc. (US), Rinovasol Global Services B. V. (Netherlands), ROSI (France), We Recycle Solar (US), SILCONTEL LTD (Israel), Etavolt Pte. Ltd. (Singapore), PV Industries (Australia), and SOLARCYCLE, Inc. (US). The study includes an in-depth competitive analysis of these key players in the solar panel recycling market, along with their company profiles, recent developments, and key market strategies adopted.
Research Coverage
This report segments the market for solar panel recycling on the basis of type, shelf life, process, material, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, and expansions associated with the market for solar panel recycling.
Key Benefits of Buying this Report
This research report focuses on various levels of analyses - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape; emerging and high-growth segments of the solar panel recycling market; high-growth regions; and market drivers, restraints, opportunities, and challenges.