Kenneth Research published a report titled “Solar Panel Recycling Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the global solar panel recycling market in terms of market segmentation by process, type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Kenneth Research projected the revenue growth of the global solar panel recycling market to be between ~ USD 140 million in 2022 and ~ USD 479 million in 2035. This expansion of the market should happen primarily as a result of the growing need for solar energy generation for its sustainability, and the awareness about clean energy usage. Further, the market growth would be fueled by the increasing solar panel wastes in landfills, the ease of developing new solar panels from old ones, the need to reduce carbon footing, and considerable investments in energy production.
The global solar panel recycling market is segmented by type into crystalline silicon and thin film. Between these, the crystalline silicon segment should hold a larger market share in the forecast period as a result of its sufficient use in standalone photovoltaic (PV) systems and favorable government regulations. At the same time, growth at the CAGR of ~13% could be observable in the global solar panel recycling market.
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa constitute the regional divisions of the global solar panel recycling market. The market in Europe is expected to show the most significant growth in the forecast period boosted by an expansive consumer base, favorable government rules, and the presence of leading businesses in the market.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Potential Danger of the Landfilling of Old Photovoltaic (PV) Panels to Positively Influence Market Growth
The waste from old solar panels that would be disposed of in landfills by 2050 is projected to be more than 79 million metric tons. It is the greater expenses associated with the recycling of solar panels that lead to such disposal of them. In the landfills as the toxic materials in the solar panels, including lead and cadmium break down they leach out into the soil creating potential hazards to the soil and environment. The global solar panel recycling market is expected to grow as the world look for safer ways to deal with solar panel waste.
However, high expenses of recycling, weak government regulations, and insufficient recycling infrastructure to operate as key restraints to the growth of the global solar panel recycling market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global solar panel recycling market which includes company profiling of First Solar, Inc., SILCONTEL LTD, Canadian Solar Solutions Incorporated, SunPower Corporation, Trina Solar Co.,Ltd, Aurubis AG, Hanwha Group, Envaris GmbH, Reclaim PV Recycling Pty Ltd, Reiling GmbH & Co. KG, and other. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global solar panel recycling market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Kenneth Research is a leading service provider for strategic market research analysis and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.
