Europe Solar Panel Recycling Market - By Type (Monocrystalline, Polycrystalline, Thin-Film); By Process (Thermal, Mechanical, Laser); By Country (Germany, United Kingdom, Italy, France, Spain, Belgium, Russia, The Netherlands, Rest of Europe), Trend Analy

Europe Solar Panel Recycling Market - By Type (Monocrystalline, Polycrystalline, Thin-Film); By Process (Thermal, Mechanical, Laser); By Country (Germany, United Kingdom, Italy, France, Spain, Belgium, Russia, The Netherlands, Rest of Europe), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

Europe Solar Panel Recycling Market Size Zooming at CAGR of 21% to Cross USD 227 Million by 2029

Europe solar panel recycling market is flourishing due to the increased recycling of solar panels in the region, supportive laws by the region’s governments and the European Union, and growing environmental concerns.

BlueWeave Consulting, a leading strategic consulting and market research firm, estimated the Europe Solar Panel Recycling Market size at USD 60.06 million in 2022. BlueWeave expects the Europe Solar Panel Recycling Market size to expand at a robust CAGR of 20.9% during the forecast period between 2023 and 2029, to reach USD 227.41 million by 2029. Recycling solar panels in the region plays an important role in employment generation. The financing and establishment of take back and recycling programs for solar inverters and panels has been made essential under the EU's WEEE legislation. Furthermore, the EU declared in 2020 that the ratio between solar panels nearing the end of their useful life and solar panels added will be less than 1%. But, by 2040, the percentage is projected to rise to 40%. This is expected to be one of the primary causes pushing industry to create unique and improved recycling facilities and methods. During the forecast period, these developments are projected to have a beneficial influence on the market.

Opportunity: Development of innovative recycling technologies and processes

The development of new recycling technologies and processes, such as chemical recycling and advanced sorting techniques, can play an important role in improving the efficiency and cost-effectiveness of solar panel recycling. Chemical recycling is a promising technology that involves breaking down the solar panels into their constituent materials using chemical reactions. This process can be more efficient than traditional mechanical or thermal recycling processes, and it has the potential to recover higher-quality materials that can be reused in the production of new solar panels. For instance, ReProSolar, a second initiative, received EUR 4.8 million from the EU to develop a prototype recycling plant capable of processing 5,000 tons of panels per year by 2023. ROSI, for instance, utilizes a moderate base to remove silver from cells—not by dissolving the metal, but by gently etching away the silicon around the silver wires so that the wires may be recovered whole.

Challenge: Lack of awareness and education among consumers and businesses

The lack of awareness and education among consumers and businesses about the importance of recycling solar panels can indeed hinder the development of the recycling market. Many people are not aware that solar panels contain valuable materials that can be recovered and reused, or that the improper disposal of solar panels can have negative environmental impacts. Another challenge to the development of the recycling market is the availability of cheap and easily accessible virgin materials. In some cases, it may be more cost-effective for manufacturers to use virgin materials rather than recycled materials. However, there are several factors that can influence the economic viability of recycling, including the cost of collection, transportation, and processing, as well as the market demand for recycled materials.

Segment Information

Europe Solar Panel Recycling Market - By Process

The Europe Solar Panel Recycling Market is divided into three processes such as thermal, mechanical, and laser. During the forecast period, the mechanical process will dominate the market by process. The mechanical process involves the use of crushers, shredders, and other machinery to break down and separate the materials from the solar panels. This procedure uses less energy than the thermal process and may be less expensive, but it may not be as successful in recovering high-quality materials.

Europe Solar Panel Recycling Market - By Country

Germany is the market leader in European market for Solar Panel Recycling. Germany is expected to dominate the solar panel recycling business since it controls the majority of Europe's solar PV capacity. Furthermore, the German government has set a target of increasing solar power capacity to 200GW by 2030, and it intends to raise solar tenders to 20GW in order to reach this objective. Moreover, the capacity in Germany will nearly double, growing from slightly more than 50 GW in 2020 to around 415 GW by the mid-century.

Impact of COVID-19 on Europe Solar Panel Recycling Market

The COVID-19 pandemic had an influence on the European solar panel recycling business, as well as many other industries worldwide. The pandemic disrupted global supply chains and influenced demand for solar panels, reducing the number of end-of-life panels available for recycling. The pandemic's biggest impact has been a pause in the installation of new solar panels. Lockdowns, travel restrictions, and social distancing policies have made it impossible for solar panel installers to work, causing new installations to be delayed. The delay in new installations has also slowed the replacement of older panels, implying that the amount of end-of-life panels available for recycling may be reduced.

Competitive Landscape

The Europe Solar Panel Recycling Market is highly competitive, with all the players continually competing to gain a larger market share. The key players are Sunpower Corporation, Reiling Group GmbH & Co. KG, Rosi Solar, JA Solar Co., Univergy International, Renesola, Trina Solar Co., First Solar Inc., and Experia Solution. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the Europe Solar Panel Recycling Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Europe Solar Panel Recycling Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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