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Latest TMR Report Explores Impact of COVID-19 Outbreak on Solar Panel Recycling Market

Solar Panel Recycling Market: Introduction

  • The global solar panel recycling market was valued at ~US$ 40 Mn in 2018 and is anticipated to expand at a CAGR of ~37% during the forecast period
  • Based on process, the combination segment dominated the global solar panel recycling market in 2018. It comprises combination of different processes such as thermal, chemical, and mechanical.
  • Based on product, the silicon-based PV segment constituted dominant share of the global solar panel recycling market in 2018. Silicon-based PV has large installed base; as a result, silicon-based solar PV panels are estimated to hold large share of the solar panel recycling market in the near future.
  • Based on material, the glass segment held significant share of the global solar panel recycling market in 2018. It consists of the highest share of the overall solar module and can be recycled up to 95% of the total waste.
  • The solar panel recycling market in Europe is projected to expand at a substantial pace during the forecast period, owing to high installed base of solar panels in the region

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Key Drivers of Solar Panel Recycling Market

  • Rise in number of end-of-life solar panels across the globe is anticipated to drive the solar panel recycling market during the forecast period
  • Deployment of solar photovoltaic panels has been increasing significantly. Solar photovoltaic modules have a useful lifespan of approximately 25 years to 30 years.
  • The number of photovoltaic modules that reach the end of their useful life is likely to increase substantially after the time lag of operation and decrease in efficiency, resulting in waste generation
  • Sustainable waste management provides the benefits of 3Rs: reduce, reuse, and recycle. When a product cannot be repaired or reused, recycling is the next preferable option before its disposal as waste.
  • Solar panel recycling has become an important emerging market, owing to the presence of large volume of waste photovoltaic modules

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Europe Offers Lucrative Opportunities to Solar Panel Recycling Market

  • Europe is anticipated to be a highly attractive region of the global solar panel recycling market during the forecast period. The solar panel recycling market in Europe is estimated to expand at a significant pace between 2019 and 2027, as the region has the highest installed base of solar energy. Increase in number of end-of-life solar panels is anticipated to result in a rise in solar panel waste. Thus, demand for solar panel recycling is expected to increase in Europe in the near future.

Major Developments in Solar Panel Recycling Market

  • In January 2019, The Ministry of New and Renewable Energy (MNRE), India, proposed to follow the glass recycling procedure for solar photovoltaic (PV) panels under a new framework. It is expected to be made mandatory for solar power developers. Producers would be made responsible for ensuring recycling of end-of-life glass panels as part of their extended responsibility as in the case of e-waste, which covers used lead-acid batteries, packaging materials, etc.

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Competition Landscape of Solar Panel Recycling Market

  • The global solar panel recycling market is highly consolidated. A few international players hold significant share of the global solar panel recycling market.
  • Major players operating in the global solar panel recycling market are Morgen Industries, Inc., PV Recycling, Reclaim PV Recycling, Silcontel Ltd, Reiling Glasrecycling Danmark ApS, ECS Refining LLC, Envaris, SunPower Corporation, Reclaim PV Recycling Pty Ltd, First Solar, Recycle Solar Technologies Limited, and Total Green Recycling

Global Solar Panel Recycling Market: Segmentation

Solar Panel Recycling Marketby Process

  • Thermal
  • Mechanical
  • Chemical
  • Combination
  • Laser

Solar Panel Recycling Marketby Product

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

Solar Panel Recycling Marketby Material

  • Glass
  • Plastic
  • Aluminum
  • Silicon
  • Metal

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Solar Panel Recycling Market 2020-2028 Covid-19 Updates With Key Players – Silcontel Ltd., Rinovasol Group, Reiling GmbH & Co. KG, ENVARIS GmbH

“The global Solar Panel Recycling Market report offers one by one company profiles of major vendors. It delivers an evaluation of the supply-demand ratio in each end-use market. Geographical analysis has been offered on the basis of growth outlook, market share, and key countries. Positive and negative facets associated with the consumption of Solar Panel Recycling market are provided. Pin-point analyses of industry competition dynamics have been covered to provide you a competitive edge. Likewise, the experts behind this study suggest that this well-established record is an output of high-end research initiatives and an evaluation of a series of major elements that are obtained by several tools, which gradually shape the growth in global Solar Panel Recycling market.

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In addition, new ventures with five forces analysis and SWOT analysis, expected returns, advancements, and venture attainability investigation are conducted to study the key worldwide Solar Panel Recycling market player’s growth in the business. Moreover, the report covers the assessment of regional growth, along with market scope, market size, spending data, and profit. The report forecasts high growth for the global Solar Panel Recycling market in the near future, with the forecasters stating that the absence of authorized regulations will be the key restraining factor about the growth of the Solar Panel Recycling market during the prediction period. The report contains detailed market volume with a complete regional outlook.

Market Segmentation

The market is segmented into By Process (Thermal, Mechanical, Laser), By Type (Monocrystalline, Polycrystalline, Thin Film), By Shelf life (Normal Loss, Early Loss).

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Major players operating in the global Solar Panel Recycling Market: 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, First Solar Inc.

Regional Analysis of Solar Panel Recycling Market

  • The study splits the regional landscape of the Solar Panel Recycling Market into North America (United States, Canada and Mexico), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), Europe (Germany, France, UK, Russia and Italy), South America (Brazil, Argentina, Colombia etc.), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
  • Significant data about the production capabilities alongside financial forecasts for each region is enlisted
  • The forecasted growth rate for each region listed over the mentioned timeframe is included in the study.

Competitive Scenario:

The report also includes information related to production capabilities, pricing structures, manufacturing cost details, revenue share, and gross margins of every company. Moreover, the global Solar Panel Recycling Market competitive landscape provides insights such as company overview, market potential, investment in research and development, company financials, new market initiatives, regional existence, company strengths and weaknesses, product width, and breadth, product launch, application dominance.

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Investment Feasibility In Solar Panel Recycling Market | Development Trends, Growth, Risks, Pandemic Impact, Consumers, Demand Analysis 2020-2027

Headline: Global Solar Panel Recycling Report 2020 offers the latest insights for business strategists with key players, types & applications analysis.

Industry overview, Solar Panel Recycling growth analysis & futuristic demand with revenue status is specified. The product demand, supply-demand, latest technologies, and changing business plans are analyzed. Also, the pandemic impact on different Solar Panel Recycling industry verticals and sub-segments is analyzed in this study. In-depth analysis of value chain, distributors, consumers & top companies are covered. The reshaping trends, economic impact, recovery plans, innovative technologies which can lead to Solar Panel Recycling revenue accumulation are studied.

The latest updates on Solar Panel Recycling industry trends, business plans, revenue graph, market drivers, restraints & risk analysis are provided. The competitive market view, market share, Solar Panel Recycling pricing analysis & volume analysis is conducted. The regional and country-level market bifurcation is as follows:

North America (United States, Canada, Mexico), Europe (Germany, France, UK, Spain, Italy, Russia, Netherlands, Denmark, and others), Asia-Pacific (Japan, India, China, Korea, Australia, New Zealand, Indonesia, Philippines and rest), South America (Brazil, Argentina, Chile, Colombia and rest), Middle East & Africa(Saudi Arabia, UAE, Egypt, Israel, Iran and rest)

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The top companies and their Solar Panel Recycling product profiles with the competitive landscape are as follows:

ECS Refining LLC
Reclaim PV Recycling
Canadian Solar
Envaris
Yingli Energy Co. Ltd
Rinovasol
First Solar
Silcontel
Silrec Corporation.
Reiling Group

The important product type segmentation is as follows:

Monocrystalline
Polycrystalline
Thin film

The top application/end-user analysis is shown below:

Thermal
Mechanical
Laser

The product landscape, Solar Panel Recycling volume share, revenue analysis, projected growth is analyzed. The production patterns, pricing models, application spectrum on the regional and country-level is provided. The core competencies of Solar Panel Recycling, strategic and in-depth profiling of each market segment is the specialty of Reports Check's market intelligence. The factors affecting the market growth, 6-years forecast evaluation of Solar Panel Recycling Industry, supply chain analysis, SWOT analysis, & Porter’s Five Forces analysis is covered.

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Various paid primary sources and secondary data sources are used to derive Solar Panel Recycling market insights & pricing analysis. The quantitative and qualitative inputs offered by our reports will lead to actionable business plans and Solar Panel Recycling company growth. The risk analysis and mitigation segment will help all the large, mid-size, and evolving companies in planning strategies and taking appropriate measures.

Key Highlights from Table of Contents:

  • Market introduction, overview, definition & scope
  • Research objectives, assumptions, abbreviations
  • Report description, product type, region and Solar Panel Recycling Industry split by regions & applications
  • Opportunity analysis, market size estimation and market maturity analysis
  • Industry dynamics, supply-demand side, and economic drivers
  • Restraints analysis, market opportunities, regulatory scenario, industry trends
  • Mergers & acquisitions, new product approvals, launch events, Solar Panel Recycling marketing initiatives and cost tier down analysis
  • Coronavirus impact by regions namely North America, Latin America, Europe, Asia-Pacific, Middle East & Africa
  • Market share analysis, Y-o-Y Solar Panel Recycling growth analysis from 2015-2027
  • Product type, applications, end-users, and key players classification
  • Country-level analysis, trends for each product type, application and global Solar Panel Recycling companies
  • Competitive landscape, company profiles, market share analysis, product portfolio, financial performance, recent developments & future plans
  • Forecast industry analysis stating expected revenue, market share, size, CAGR 
  • Emerging technologies and innovations in Solar Panel Recycling Industry, emerging players, product types, investment feasibility check analysis
  • Research methodology, data sources, analysts views & business plans

The joint ventures, strategic alliances in Solar Panel Recycling, mergers, and acquisitions, & new product developments are specified. The development trends, threats, opportunities, competitive landscape are vital factors analyzed. COVID-19 outbreak impact, market status, emerging market players, and the latest developments in this industry are analyzed. The consumption value, profit margins, price patterns, stakeholders, & investors are specified.

The R&D status, prevailing trends, top challenges, revenue graph, Solar Panel Recycling industry landscape view is provided. The product terrain analysis, current market scenario, and the business sphere is covered. By topography, consumption value, price patterns, stakeholders, and investors will lead to well-informed decisions.

The factors affecting Solar Panel Recycling industry growth, various tools used in market size valuation and volume analysis are specified. The forecast prospects, pre and post-COVID-19 market scenario, top geographies, business strategies are covered. Diverse research methodology and trusted reliable data sources are implied for accurate market numbers.

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Solar Panel Recycling Market (Covid-19 Impact) In-depth Industry Size, Analysis, Growth, Opportunity and Forecast

The rising adoption of solar energy and increasing government initiatives for the same are the most significant reasons behind the need for photovoltaic (PV) panel recycling. From $80.7 million in 2017, the solar panel recycling market is projected to grow to $269.8 million by 2023. It is also being expected that during 2018–2023 (forecast period), the market would experience a CAGR of 22.0%. After the completion of their lifecycle, the PV modules and panels are disintegrated into their individual constituents —aluminum, silicon, synthetic materials,and other metals.

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On the basis of technology, the market is categorized into mechanical, thermal, and laser, among which the mechanical category led the market in 2017, with an over 55.0% value share. This is attributed to the fact that this separation method is environment-friendly as well as quite efficient. During it, auxiliary parts, such as the junction box, cables,and frame, are manually separated, the glass laminate is shredded, and the copper strings are detached via sorting.

 

Based on type, thin-film, monocrystalline, and polycrystalline are the threesolar panel recycling market divisions. Among these, monocrystalline was the largest division in 2017, with a value share of over 50.0%, owing to the greater efficiency,superiormaterial grade,relatively higher space efficiency,longer shelf life,and excellent heat resistance of such PV modules. During the forecast period, the highest value CAGR, of 29.7%, is expected to be displayed by the thin-film category, as such panels are lightweight and flexible, which is resulting in their rapid adoption.

 

The most important growth driver for the solar panel recycling market is the rapid shift to alternative sources of energy from fossil fuels. As fossil fuels burn, they release greenhouse gases, which lead to air pollution. Additionally, with overexploitation, the prices of crude oil and coal are rapidly increasing. To deal with such issues, the use of renewable energy is being strongly encouraged across the world. Thus, with the increasing installation rate of PV modules to generate electricity, the waste create by these is also rising.

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Additionally, with technological advancements, the purchase cost of PV modules is decreasing, which is another reason behind their rising adoption. As per YellowLite and the Solar Energy Industries Association (SEIA), a decrease in hardware cost and focus on keeping the of pre- and post-construction expenses to the minimum led to an 70% slump in the cost of solar energy between 2010 and 2017. As a result, the bids for solar plant installation, during power auctions, are becoming smaller, thereby allowing an increasing number of commercial and residential users to adopt solar power.

 

As the e-waste generated by PV module piles up, so does the danger of it causing skin irritation, lung cancer, and other serious issues. This is leading to the implementation of sustainability targets, thereby driving the solar panel recycling market advance. For instance, the European Waste Electrical and Electronic Equipment (WEEE) Directive suggests efficient methods to recycle and reuse this e-waste. In several countries, the onus of recycling the panels have been given to their manufacturers.

 

Across the world, Europe generated over 40.0% revenue in the market in 2017, as a result of the strict regulations imposed by the government to ensure the same. During the forecast period, North America would observe rapid progress, as a result of the rising investments in research and development to come up with more-efficient ways to accomplish the process and surging installation of PV modules, as a result of strict regulations and supportive policies. Within the region, the solar panel market in the U.S. is predicted to grow faster.

 

Hence, as an even larger number of PV modules come to the end of their service life, companies offering recycling services would continue to prosper.