Solar Panel Recycling Market: Expected to Register a CAGR of 28.2% During 2019-2025: Energias Market Research

NEW YORK, Dec. 19, 2019 /PRNewswire/ -- The global solar panel recycling market is expected to witness a CAGR of 28.2% from 2019 to 2025 to reach USD 98.4 million by the year 2025. Increased research & development, technological advancements, and initiatives taken by governments are expected drive the market growth over the forecast period. Additionally, rapidly growing solar industry is expected to propel the market growth in the coming years.

Solar energy has been incorporated extensively into the existing energy mix over the past decade. Solar panels employed on buildings (BIPV), ground-mounted or floating solar panels have an average expected lifetime of 30 years. These panels often contain cadmium, lead, and several toxic chemicals. Therefore, it is essential to recycle or remove these toxic elements from the environment to prevent hazardous altercations.

Key findings from the report:

• The global solar panel recycling market is expected to witness a CAGR of 28.2% during the forecast period (2019-2025) to reach USD 98.4 million by the year 2025.
• By End-Of Life, Early-loss segment held the major share of the market in the year 2018 and the trend is likely to continue over the forecast period. Factors attributed to the growth of this segment are poor planning and bad support constructions resulting in infant-stage failures. 
• Europe held the major share of the market in 2018, and the trend is likely to continue over the forecast period (2019-2025).
• Asia Pacific is anticipated to experience the fastest growth during the forecast period and is expected to hold the major share of the market in the year 2030.
• In July 2018, Veolia opened the first European plant dedicated entirely to recycling PV panels. Prior to specialized plants, PV recycling industry typically treated modules within existing recycling glass or metal plants.
• Currently, China accounts for the most number of patent filings in solar panel recycling technology. This can be owed to increasing investments in R&D of recycling technology due to expected waste from installations.
• Some of the key companies operating in the market include First Solar; Echo Environmental; Silicontel Ltd; Canadian Solar Inc.; Silrec Corporation; Beijing Super Silicon Materials Recycling Co., Ltd.; Suzhou Huizhijie Photovoltaic Technology Co.Ltd.; Shanghai Yuzong Photovoltaic Technology Co. Ltd.; SunPower Corporation; Reiling GmbH & Co. KG; Trina Solar; Aurubis; Envaris; SiC Processing GmbH; Yingli Energy Co. Ltd.;  and Hanwha Group among others.

Browse full research report with TOC on "Global Solar Panel Recycling Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2019-2025" at: https://www.energiasmarketresearch.com/global-solar-panel-recycling-market-report/

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The report segments solar panel recycling market based on technology, end-of-life, process, recycling management, and region.

By Technology

• Silicon-Based
• Monocrystalline
• Poly- or multicrystalline
• Others (Ribbon, a-Si)
• Thin-film based
• Copper indium gallium (di)selenide (CIGS)
• Cadmium telluride (CdTe)
• Others
• Organic PV/dye-sensitized cells (OPV)
• Crystalline silicon (advanced c-Si)
• Concentrating solar PV (CPV)

By End-Of-Life

• Regular-Loss
• Early-Loss

By Process

• Thermal
• Laser
• Mechanical

By Recycling Management

• Producer
• Specialized waste disposal companies
• Municipality

By Region

• North America
• Europe
• Asia-Pacific (APAC)
• Central and South America
• Middle East and Africa

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SOURCE Energias Market Research