Solar Waste Recycling Market size is estimated to record appreciable growth between 2022 and 2028. This is because numerous solar cell manufacturers are bound by law for fulfilling recycling standards and specific legal requirements for ensuring that solar panels do not become a burden to the environment. Several photovoltaic producers have, therefore, entered into collaborations with regulatory bodies for devising advanced methods for the recycling of different types of solar panels and associated wastes.
Based on type, the crystalline silicon segment is anticipated to register considerable expansion through 2028. This rise is attributed to the availability of different recycling procedures including the use of leaching agents, high-temperature processes, or a combination of both. Additionally, a number of studies are being conducted for developing new ways of recycling crystalline silicon-based PV panels. For instance, one of the studies is focused on the usage of electrostatic separator post mechanical milling for segregating the waste of silicon-based PV modules.
By process, the thermal segment is expected to account for a substantial share in the solar waste recycling market up to 2028. The process is centered on using reactions at a molecular level for the separation of ingredients in a solar panel as against mechanical recycling, which is limited by the physical separation of the different components. This has escalated the adoption of thermal/chemical processes by numerous companies for applications such as the extraction of tiny silver wires that carry electricity via silicon cells.
Considering the regional landscape, the Europe solar waste recycling market value is projected to foresee lucrative growth over the forecast period. This expansion is impelled by the surging advocation of renewable energy technologies such as solar photovoltaic panels and wind turbines for Europe’s transition to climate neutrality. The regional growth is being propelled by the adoption of circular economy approaches such as the upgradation and repair of equipment and the recycling of end-of-life infrastructure.
Major solar panel recycling companies include REMA PV Systems, Silcontel, Envaris, ECS Refining, Energy Corporations, Canadian Solar Incorporations, First Solar, Eiki Shoji, Yingli, and others. These companies are focused on the adoption of strategic initiatives such as mergers, acquisitions, product developments, partnerships, and collaborations for consolidating their position in the solar waste recycling market.
Some of the instances have been mentioned below:
The COVID-19 pandemic exposed the renewables sector to new risks, depending on the technology used. The imposition of lockdown measures and social distancing guidelines amid the pandemic have led to delays in project construction and triggered supply chain disruption, leading to a direct impact on the commissioning of biofuel facilities, renewable electricity projects, and renewable heat investments. This has temporarily impacted the solar waste recycling industry owing to the reduced demand for PV panels. However, constant efforts towards economic revival are expected to drive market expansion.