글로벌 태양광 패널 재활용 시장 – 2023-2030

Overview
Global Solar Panel Recycling Market reached US$ 155.5 million in 2022 and is expected to reach US$ 419.6 million by 2030, growing with a CAGR of 13.3% during the forecast period 2023-2030.
The solar panel recycling market is experiencing significant growth globally driven by the increasing installation of photovoltaic technology and the growing push towards sustainable waste management. Rapid expansion of PV market globally, the management of end-of-life PV modules has become a crucial issue for maintaining the positive environmental impacts of this clean energy source.
Furthermore, the PV modules having an approximate lifespan of 30 years, the rise in PV deployment lead to projected increase in the number of modules reaching their end of useful life. A report by the International Energy Agency Photovoltaic Power Systems Programme (IEA PVPS) and the International Renewable Energy Agency estimated that waste PV modules globally could account to 1.7–8.0 million tons cumulatively by 2030 and 60-78 million tons cumulatively by 2050.
In addition, the solar panel recycling market is witnessing a focus on the principles of reduce, reuse and recycle, with recycling emerging as a vital option to manage the growing volume of waste PV modules sustainably. Asia-Pacific is largest growing region in the solar panel recycling market which is driven by the rapid expansion of solar power capacity in the region. As renewable energy takes substantial stage in the global energy sector, Asia-Pacific is supposed to witness significant growth in photovoltaic systems.
Further decreasing costs of PV technology as per analysts projecting costs as low as US$ 0.42 per watt by 2050, have increased construction activity across Asian countries. Also, China and Vietnam are the major nations in this solar revolution, with China expected to add over 300 GW of solar capacity by 2021. As part of the global solar power capacity expansion, Asia is playing a major role and this growth will create a substantial market for solar panel recycling.
Dynamics
Growing Importance of Solar Panel Recycling
The solar panel recycling market is expected to be driven with a focus on addressing the increasing volume of end-of-life PV modules globally. According to IEA PVSP report, under a regular loss scenario, an estimated 1.7 million tons of PV module waste are expected by 2030 and around 60 million tons are anticipated by 2050. In an early loss scenario, these numbers could increase to 8 million tons by 2030 and 78 million tons by 2050.
France collected 4,905 tons of PV waste in 2019, marking significant growth from previous years. Nonprofit organization Soren manages PV module waste in France, including collection and recycling. New PV recycling facilities were launched in 2021, with more expected in 2022. Also, Australia has introduced mandatory regulations in the state of Victoria and Japan has published guidelines for proper end-of-life treatment.
Furthermore, Various U.S. states have introduced regulations to encourage PV module recycling capacity expansion. For instance, First Solar which is the world's largest PV recycler, has a recycling capacity of 150 metric tons per day for its thin-film CdTe PV modules. With state-level regulations, there is no federal regulation specific to PV waste management in U.S. The need for sustainable PV waste management is becoming more critical as the solar industry expands.
Government Initiatives
The solar panel recycling market is expected to be driven with the government policies and initiatives. The major growth of solar energy in U.S. made an increasing volume of end-of-life solar panels. Government policies recognize the potential for recovering valuable materials from end-of-life solar panels. The recycling of panels decreases the pressure on landfills and also creates job opportunities in the recycling sector.
International Renewable Energy Agency projected that by 2030, the combined value of recovered raw materials from end-of-life panels globally will be about US$ 450 million which is equal to the cost of raw materials needed to produce approximately 60 million new panels. Furthermore, both the EU and India have set ambitious renewable energy targets with the focus on substantial capacities for solar energy.
India, for instance, aims to install 60 GW of ground solar systems and 40 GW of rooftop solar by 2022, with a total renewable energy capacity target of 450 GW by 2030. The targets drive the growth of the solar energy sector which leads to an increase in end-of-life solar panels that need recycling.
High Costs and Insufficient Recycling Capacity for Growing Waste
The solar panel recycling market is impacted by the increasing capacity for recycling solar panels and the market is not prepared to handle the expected surge in waste as more panels reach the end of their lifespan. It is the major challenge as because of the lack of infrastructure. The financial incentive to invest in solar panel recycling has historically been weak. While panels contain small amounts of valuable materials like silver, they are predominantly made of low-value glass. It makes recycling less economically attractive.
Furthermore, according to IEEFA the cost of recycling a single solar panel is estimated to be between US$ 20 and US US$30, significantly higher than the cost of sending it to a landfill, which is only US$ 1 to US$ US$2 . It cost disparity discourages recycling efforts. Also, collecting and transporting solar panels to recycling facilities can be costly, especially if the panels are widely dispersed across various locations. The transportation costs contribute to the overall expense of recycling.
Segment Analysis
The global solar panel recycling market is segmented based on process, panel and region.
Mechanical Recycling Dominates Solar Panel Recycling
Mechanical solar panel recycling holds the largest segment in the recycling process. Advanced mechanical recycling methods can recover up to 99% of raw materials at an impressive rate of one solar panel per 40 seconds. Current methods, like First Solar's recycling process, are capable of reusing approximately 90% of the semiconductor material and 90% of the glass in its modules. However, access to these facilities remains limited for most solar customers at this time.
An Italian consortium, La Mia Energia, has developed a PV module recycling process known as the Photo Voltaic Panel Mobile Recycling Device, which boasts an impressive recovery rate of nearly 99% of raw materials. The key feature of this technique is its remarkable speed, taking just about 40 seconds to fully recycle a standard panel, depending on its size and the conditions at the recycling site.This process distinguishes itself from conventional thermo-Laser panel recycling methods by employing a series of patented mechanical steps.
Geographical Penetration
Asia-Pacific Leads Solar Panel Recycling Market Growth
Asia-Pacific is the largest region in solar panel recycling market, driven by the rapid expansion is expected to lead to a substantial increase in the decommissioning of aging equipment. It is estimated that China will dumps approximately 250 GW of solar panels and 280 GW of wind turbines by 2040, necessitating effective recycling solutions. As China leads the way in adopting these recycling measures, it sets an example for other Asia-Pacific countries to follow, driving growth in the solar panel recycling market across the region.
Furthermore, India's Ministry of New and Renewable Energy has taken significant steps by including solar modules and solar cells under the e-Waste Management Rules 2022. It move imposes responsibilities on producers for managing and recycling solar industry waste. Such regulations are expected to increase awareness and encourage the recycling of solar panels throughout their lifecycle. The industry has the potential to become a "Sunrise" sector, with estimates suggesting that the solar waste recycling business could surpass US$ 15 billion by the middle of the century. It growth could also contribute to the generation of more than 600 GW of green energy.
Competitive Landscape
The major global players in the market include Recycle Solar Technologies, Silcontel, First Solar, Veolia, Reclaim PV, Echo Environmental, Silicontel ltd, Cleanlites , Rinovasol Group, SMA Solar Technology
COVID-19 Impact Analysis
COVID-19 pandemic made a major impact on the solar panel recycling market. As a result of the pandemic, many solar panel recycling facilities have been forced to downsize their operations and lay off key employees. In addition, the restrictions on travel and movement due to the pandemic have disrupted the international supply chain of materials and other necessary components for solar panel recycling.
It caused a shortage of materials and components, resulting in increased costs. Furthermore, the economic crisis caused by the pandemic has decreased the demand for solar panel recycling materials, affecting the industry's profitability and sustainability. The reduced demand for recycled material has caused an increase in the volume of solar panels going to landfill, resulting in an increase in environmental strain and pollution.
Russia-Ukraine War Impact
The war between Russia and Ukraine had a big impact on the recycling of solar panels. It caused a lot of problems like economic issues and disruptions in how things are made and traded in both countries. Because of this, fewer solar panels were recycled and the major players in the region have seeing other alternatives.
One of the key repercussions of this conflict was a decline in the demand for materials essential in the manufacturing of solar panels. The economic activity in the region slowed down, causing a decreased need for these materials. It economic downturn made it increasingly challenging for solar panel manufacturers to obtain the necessary resources, resulting in higher production costs for new panels. The elevated production costs further strained the solar panel recycling market.
By Process
• Mechanical
• Laser
• Thermal
By Panel
• Monocrystalline Silicon
• Polycrystalline
• Thin-Film
• Amorphous
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe
• South America
o Brazil
o Argentina
o Rest of South America
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
Key Developments
• In June 2022, a new startup called Solarcycle secured US$ 6.6 million in venture capital funding for its ambitious goal of recycling 95% of high-value content from solar panels. It development comes as U.S. solar industry is expected to resume its rapid installation of solar panels, aligning with the Biden administration's target to transition the nation's electrical grid to 100 percent renewable power by 2035.
• In July 2023, Japanese conglomerate Marubeni Corporation and Osaka-based industrial group Hamada jointly established Rexia Corporation, a company dedicated to providing solar panel recycling and reuse services in Japan. Rexia's services encompass the sale, purchase and disposal of used solar panels, with the aim of diverting materials from landfills and extending the lifespan of older panels.
• In July 2023, the research team at UNSW Sydney has developed a new and environmentally friendly solar panel recycling process that significantly improves the recovery of valuable silver and other materials from photovoltaic (PV) panels. It patented sieving process aims to address the growing problem of PV waste and the need for more efficient recycling methods.
Why Purchase the Report?
• To visualize the global solar panel recycling market segmentation based on process, panel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of solar panel recycling market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global solar panel recycling market report would provide approximately 53 tables, 48 figures and 182 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies