Europe Solar Panel Recycling Market Share, Trends, Revenue, Challenges, Growth Drivers, CAGR Status and Business Opportunities Till 2033


Europe Solar Panel Recycling Market Share, Trends, Revenue, Challenges, Growth Drivers, CAGR Status and Business Opportunities Till 2033: SPER Market Research

 Category : Power & Energy

 Published: Jun-2024
 Author: SPER Analyst

Europe Solar Panel Recycling Market is projected to be worth USD 395.35 million by 2033 and is anticipated to surge at a CAGR of 19.81%.

Photovoltaic (PV) panels that have reached the end of their useful life are collected and reprocessed in order to recover valuable materials and minimize waste. This process is commonly referred to as solar panel recycling. The problem of what to deal with outdated or broken solar panels is getting worse as solar energy gets more and more common. There are various procedures involved in recycling solar panels. Initially, the panels are gathered and brought to a facility for recycling. The glass, aluminum, and silicon components are then segregated and shipped to the appropriate recycling streams when the panels are removed. Furthermore, it is possible to recover and repurpose the metals and other materials found in the panels, like copper and silver.

Europe Solar Panel Recycling Market Driving Factors and Challenges

Driving Factors: The market for recycled solar panels is experiencing rapid growth, mainly due to the expected significant rise in waste from solar panels as the initial generations of PV systems near the end of their operational life, which is generally 25 to 30 years. The need for renewable energy sources to fight climate change has led to a notable global boom in solar installations during the early 2000s. As a result, the number of solar panels that are no longer in use is expected to increase significantly as these early installations age, necessitating the urgent need for efficient recycling methods. 

Challenges: The economic feasibility and cost-effectiveness of the recycling process are two significant barriers affecting the worldwide market for recycled solar panels. Even while recycling old solar panels is becoming more and more important, the financial difficulties involved in these activities might seriously limit industry expansion. Approximately 75% of the weight of solar panels is made up of glass; the other elements include polymers, aluminum, rare materials like indium, and valuable metals like silver. The potential profit from selling the recovered elements is frequently outweighed by the expense of collecting and processing these commodities, particularly the smaller amounts of valuable and rare metals. This large upfront cost may discourage new competitors from entering the industry. 

Impact of COVID-19 on Europe Solar Panel Recycling Market

Like many other industries worldwide, the solar panel recycling sector in Europe was impacted by the COVID-19 pandemic. There may be fewer end-of-life panels available for recycling than anticipated as a result of the slowdown in new installations and the replacement of older panels. The recycling procedure itself was impacted by the pandemic as well. In order to safeguard employees against COVID-19 infection, several recycling plants were forced to put new safety precautions in place. These included limiting the number of workers on site and enacting social distancing measures. These actions raised the cost of recycling and caused delays in the recycling process.

Europe Solar Panel Recycling Market Key Players:

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Experia Solution, First Solar Inc., JA Solar Co., Reiling Group GmbH & Co. KG, Rosi Solar, Renesola, Sunpower Corporation, Trina Solar Co., Univergy Intenational.

Europe Solar Panel Recycling Market Segmentation:

By Type: Based on the Types, Europe Solar Panel Recycling Market is segmented as; Monocrystalline, Polycrystalline, Thin-Film

By Process: Based on the Process, Europe Solar Panel Recycling Market is segmented as; Thermal, Mechanical, Laser

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. 

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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