Solar Panel Recycling Market Report 2025 (Global Edition)

Global Solar Panel Recycling Market Report 2025 Market Size Split by Material (Glass, Plastic, Aluminum, Silicon, Metals), by Product (Silicon Based PV, Thin Film PV, Others), by Process (Thermal, Mec...

Solar Panel Recycling Market Report Description

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Competitive Landscape of the Solar Panel Recycling Market

The competitive landscape of the Solar Panel Recycling Market is characterized by a diverse range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established electronics manufacturers, specialized projector companies, and emerging start-ups aiming to disrupt the market with innovative solutions

Top Companies Market Share in Solar Panel Recycling Industry: (In no particular order of Rank)

• SILREC CORPORATION
• AURUBIS AG
• CANADIAN SOLAR
• ENVARIS GMBH
• FIRST SOLAR
• TRINA SOLAR
• SUNPOWER CORPORATION
• REILING GMBH & CO KG
• HANWHA GROUP
• ECHO ENVIRONMENTAL
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Solar Panel Recycling Market

Which Region Dominates the Solar Panel Recycling Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. This significant market share underscores the region's strong commitment to environmental sustainability and the adoption of renewable energy solutions. With the United States and Canada leading the way, North America's prominence in the market can be attributed to several factors. Firstly, stringent environmental regulations and mandates promote responsible end-of-life management practices, driving the demand for solar panel recycling services.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific stands out as the fastest-growing region in the Solar Panel Recycling Market due to several compelling reasons. Firstly, the region's rapid economic growth and urbanization have led to a significant increase in solar panel installations across residential, commercial, and industrial sectors. As countries in Asia-Pacific strive to meet their energy demands sustainably, there is a growing emphasis on renewable energy sources, including solar power, driving the demand for solar panel recycling services

The current report Scope analyzes Solar Panel Recycling Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Solar Panel Recycling Market Analysis

According to Cognitive Market Research, the global Solar Panel Recycling Market size was estimated at USD 158.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 63.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031. In North America, the Solar Panel Recycling Market exhibits a promising landscape characterized by the region's increasing adoption of solar energy as a renewable energy source underscores the importance of responsible end-of-life management for solar panels. Regional analysis reveals that the United States and Canada are the primary contributors to market growth, driven by factors such as Environmental Awareness, Regulatory Mandates, and Increasing Solar Panel Installations, which contribute to the accessibility and availability of Solar Panel Recycling products. Segmentation analysis further highlights the popularity of Material in the region, catering to different consumer preferences and requirements. The fastest-growing category in the Solar Panel Recycling Market is Silicon Based PV, including those affiliated with Thin Film PV. In conclusion, North America's Solar Panel Recycling Market is poised for substantial growth driven by the region's increasing adoption of solar energy and a growing emphasis on responsible waste management.

• According to Cognitive Market Research, the US had a major share in the Solar Panel Recycling Market with a market size of USD 49.93 million in 2024 and is projected to grow at a CAGR of 11.6% during the forecast period. This growth trajectory reflects the country's increasing emphasis on renewable energy adoption, environmental sustainability, and responsible waste management practices within the solar energy sector.
• The Canada Solar Panel Recycling Market had a market share of USD 7.59 million in 2024 and is projected to grow at a CAGR of 12.6% during the forecast period. This growth trajectory reflects the country's increasing emphasis on renewable energy adoption, environmental sustainability, and responsible waste management practices within the solar energy sector.
• The Mexico Solar Panel Recycling Market is projected to witness growth at a CAGR of 12.3% during the forecast period, with a market size of USD 5.76 million in 2024

Europe Solar Panel Recycling Market Analysis

According to Cognitive Market Research,  the global Solar Panel Recycling Market size was estimated at USD 158.2 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 47.46 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.1% from 2024 to 2031. In Europe, the Solar Panel Recycling Market presents a dynamic landscape characterized by the region's increasing adoption of solar energy as a renewable energy source, underscoring the importance of responsible end-of-life management for solar panels. Regional analysis indicates that countries like Germany, the UK, and France are the key contributors to market growth, driven by factors such as Environmental Awareness, Regulatory Mandates, and Increasing Solar Panel Installations, which contribute to the accessibility and availability of Solar Panel Recycling products. Segmentation analysis further highlights the adoption of different technologies in the region, with Glass, Silicon-Based PV, and Thermal being the dominant categories. In conclusion, Europe's Solar Panel Recycling Market is poised for substantial growth driven by the region's increasing adoption of solar energy and a growing emphasis on responsible waste management.

• The United Kingdom Solar Panel Recycling Market had a market share of USD 7.97 million in 2024 and is projected to grow at a CAGR of 12.9% during the forecast period. This growth trajectory reflects the country's increasing emphasis on renewable energy adoption, environmental sustainability, and responsible waste management practices within the solar energy sector.
• The France Solar Panel Recycling Market is projected to grow at a CAGR of 11.3% during the forecast period, reaching a market size of USD 4.37 million in 2024.
• According to Cognitive Market Research, the Germany Solar Panel Recycling Market size was valued at USD 9.40 million in 2024 and is projected to grow at a CAGR of 12.3% during the forecast period. This growth trajectory reflects the country's increasing emphasis on renewable energy adoption, environmental sustainability, and responsible waste management practices within the solar energy sector.
• The Italy Solar Panel Recycling Market is projected to grow at a CAGR of 11.5% during the forecast period, reaching a market size of USD 4.08 million in 2024.
• The Russia Solar Panel Recycling Market is projected to grow at a CAGR of 11.1% during the forecast period, reaching a market size of USD 7.36 million in 2024.
• The Spain Solar Panel Recycling Market is projected to grow at a CAGR of 11.2% during the forecast period, reaching a market size of USD 3.89 million in 2024.
• The Luxembourg Solar Panel Recycling Market is projected to witness growth at a CAGR of 12.2% during the forecast period, with a market size of USD 1.47 million in 2024.
• The Portugal Solar Panel Recycling Market is projected to grow at a CAGR of 11.9% during the forecast period, reaching a market size of USD 1.00 million in 2024.
• The Greece Solar Panel Recycling Market is projected to grow at a CAGR of 12.4% during the forecast period, reaching a market size of USD 0.57 million in 2024.
• The rest of Europe's Solar Panel Recycling Market is projected to witness growth at a CAGR of 10.8% during the forecast period, with a market size of USD 7.36 million in 2024.

Asia Pacific Solar Panel Recycling Market Analysis

According to Cognitive Market Research, the global Solar Panel Recycling Market size was estimated at USD 158.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 36.39 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.6% from 2024 to 2031. In the Asia Pacific region, the Solar Panel Recycling Market exhibits robust growth prospects driven by factors such as Environmental Awareness, Regulatory Mandates, and Increasing Solar Panel Installations, which contribute to the accessibility and availability of Solar Panel Recycling products. Regional analysis indicates that countries such as China, Japan, South Korea, and India are key contributors to market expansion, with a significant presence of technology-savvy consumers and a thriving solar industry. Segmentation analysis further highlights the adoption of different technologies in the region, with Glass, Silicon-Based PV, and Thermal being the dominant categories. In conclusion, Asia Pacific's Solar Panel Recycling Market is poised for substantial growth driven by the region's increasing adoption of solar energy and a growing emphasis on responsible waste management.

• According to Cognitive Market Research, the China Solar Panel Recycling Market size was valued at USD 16.37 million in 2024 and is projected to grow at a CAGR of 15.1% during the forecast period. This growth trajectory reflects the country's increasing emphasis on renewable energy adoption, environmental sustainability, and responsible waste management practices within the solar energy sector.
• The Japan Solar Panel Recycling Market is projected to grow at a CAGR of 14.1% during the forecast period, reaching a market size of USD 5.02 million in 2024.
• The India Solar Panel Recycling Market had a market share of USD 4.37 million in 2024 and is projected to grow at a CAGR of 17.4% during the forecast period. This growth trajectory reflects the country's increasing emphasis on renewable energy adoption, environmental sustainability, and responsible waste management practices within the solar energy sector.
• The South Korea Solar Panel Recycling Market is projected to grow at a CAGR of 14.7% during the forecast period, reaching a market size of USD 3.64 million in 2024.
• The Australia Solar Panel Recycling Market is projected to grow at a CAGR of 15.3% during the forecast period, reaching a market size of USD 1.89 million in 2024.
• The South East Asia Solar Panel Recycling Market is projected to grow at a CAGR of 16.6% during the forecast period, reaching a market size of USD 2.51 million in 2024.
• The Rest of Asia Pacific Solar Panel Recycling Market is projected to witness growth at a CAGR of 15.4%  during the forecast period with a market size of USD 2.58 million in 2024.

South America Solar Panel Recycling Market Analysis

According to Cognitive Market Research, the global Solar Panel Recycling Market size was estimated at USD 158.2 Million, out of which Latin America market of more than 5% of the global revenue with a market size of USD 7.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.0% from 2024 to 2031. In Latin America, the Solar Panel Recycling Market showcases promising growth prospects driven by factors such as Environmental Awareness, Regulatory Mandates, and Increasing Solar Panel Installations, which contribute to the accessibility and availability of Solar Panel Recycling products. Regional analysis indicates that countries like Brazil, Mexico, Argentina, and Chile are significant contributors to market growth, region's increasing adoption of solar energy as a renewable energy source underscores the importance of responsible end-of-life management for solar panels. Segmentation analysis further highlights the adoption of different technologies in the region, with Glass, Silicon-Based PV, and Thermal being the dominant categories. In conclusion, Latin America's Solar Panel Recycling Market is poised for substantial growth driven by the region's increasing adoption of solar energy and a growing emphasis on responsible waste management.

• According to Cognitive Market Research, the Brazil Solar Panel Recycling Market size was valued at USD 3.39 million in 2024 and is projected to grow at a CAGR of 13.6% during the forecast period. This growth trajectory reflects the country's increasing emphasis on renewable energy adoption, environmental sustainability, and responsible waste management practices within the solar energy sector.
• The Argentina Solar Panel Recycling Market had a market share of USD 1.33 million in 2024 and is projected to grow at a CAGR of 13.9% during the forecast period. This growth trajectory reflects the country's increasing emphasis on renewable energy adoption, environmental sustainability, and responsible waste management practices within the solar energy sector.
• The Colombia Solar Panel Recycling Market is projected to grow at a CAGR of 12.8% during the forecast period, reaching a market size of USD 0.70 million in 2024.
• The Peru Solar Panel Recycling Market is projected to grow at a CAGR of 13.2% during the forecast period, reaching a market size of USD 0.65 million in 2024.
• The Chile Solar Panel Recycling Market is projected to grow at a CAGR of 13.3% during the forecast period, reaching a market size of USD 0.57 million in 2024.
• The Rest of the Latin America Solar Panel Recycling Market is projected to witness growth at a CAGR of 12.1%  during the forecast period, with a market size of USD 1.27 million in 2024

Middle East Solar Panel Recycling Market Analysis

According to Cognitive Market Research, the global Solar Panel Recycling Market size was estimated at USD 158.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 3.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.3% from 2024 to 2031. MEA, the Solar Panel Recycling Market, showcases promising growth prospects driven by factors such as Environmental Awareness, Regulatory Mandates, and Increasing Solar Panel Installations, which contribute to the accessibility and availability of Solar Panel Recycling products. Segmentation analysis further highlights the adoption of different technologies in the region, with Glass, Silicon-Based PV, and Thermal being the dominant categories. In conclusion, Latin America's Solar Panel Recycling Market is poised for substantial growth driven by the region's increasing adoption of solar energy and a growing emphasis on responsible waste management.

• The GCC Countries Solar Panel Recycling Market is projected to witness growth at a CAGR of 14.1% during the forecast period with a market size of USD 1.35 million in 2024. This growth trajectory reflects the country's increasing emphasis on renewable energy adoption, environmental sustainability, and responsible waste management practices within the solar energy sector.
• The Egypt Solar Panel Recycling Market is projected to grow at a CAGR of 13.6% during the forecast period, reaching a market size of USD 0.33 million in 2024.
• The South Africa Solar Panel Recycling Market is projected to grow at a CAGR of 14.3% during the forecast period, reaching a market size of USD 0.50 million in 2024. This growth trajectory reflects the country's increasing emphasis on renewable energy adoption, environmental sustainability, and responsible waste management practices within the solar energy sector.
• The Turkey Solar Panel Recycling Market is projected to grow at a CAGR of 12.8% during the forecast period, reaching a market size of USD 0.27 million in 2024.
• The Nigeria Solar Panel Recycling Market is projected to grow at a CAGR of 12.4% during the forecast period, reaching a market size of USD 0.33 million in 2024.
• The Rest of the MEA Solar Panel Recycling Market is projected to witness growth at a CAGR of 12.3% during the forecast period, with a market size of USD 0.37 million in 2024

Solar Panel Recycling Market Analysis

Solar Panel Recycling Market Material Segment Analysis

According to Cognitive Market Research, the Glass type stands out as the dominating category. Solar panels typically consist of multiple layers, with tempered glass serving as the top layer to protect the photovoltaic cells from environmental elements and provide structural support. As a result, glass constitutes a significant portion of the materials used in solar panels, making it a key component for recycling. The dominance of glass in the recycling category is further reinforced by its recyclability and the high demand for recycled glass in various industries, including construction, automotive, and consumer goods. Recycling glass from decommissioned solar panels not only conserves natural resources but also reduces energy consumption and greenhouse gas emissions associated with glass production from raw materials.

Plastic type emerges as the fastest-growing category in the Solar Panel Recycling Market. While solar panels are primarily composed of materials like glass, silicon, and metals, they also contain plastic components, such as encapsulants, back sheets, and junction boxes. These plastic elements play critical roles in protecting and insulating the solar cells, ensuring their durability and performance over the panel's lifespan. As the solar industry expands, driven by environmental concerns and renewable energy targets, the volume of end-of-life solar panels containing plastic components is also growing.

• Glass
• Plastic
• Aluminum
• Silicon
• Metals

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Solar Panel Recycling Industry. Request a Free Sample PDF!

Solar Panel Recycling Market Product Segment Analysis

According to Cognitive Market Research, the dominating category is Silicon Based PV. Silicon-based PV panels represent the most widely used technology in solar panel manufacturing, accounting for a significant portion of the global solar panel market. These panels utilize silicon-based semiconductors to convert sunlight into electricity, making them highly efficient and reliable for generating solar energy. As a result of their widespread adoption, the volume of decommissioned silicon-based PV panels for recycling is substantial.

The fastest-growing category in the Solar Panel Recycling Market is Thin Film PV. Thin film solar panels are characterized by their lightweight and flexible design, making them suitable for a wide range of applications, including building-integrated photovoltaics (BIPV) and portable solar devices. While thin film technology has traditionally lagged behind silicon-based PV in efficiency, recent advancements have significantly improved its performance, driving its adoption in various solar projects. As the demand for renewable energy continues to rise, particularly in sectors like commercial and utility-scale solar installations, there is a growing interest in thin film PV technology due to its cost-effectiveness and versatility.

• Silicon Based PV
• Thin Film PV
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Solar Panel Recycling Process Segment Analysis

According to Cognitive Market Research, the dominating category is Thermal. Thermal solar panels, also known as solar thermal collectors, are designed to capture and convert sunlight into heat energy for various applications, including heating water for residential and commercial use, space heating, and industrial processes. Unlike photovoltaic (PV) solar panels, which convert sunlight directly into electricity, thermal solar panels utilize heat-absorbing materials to capture solar energy and transfer it into a fluid medium, such as water or air, for heating purposes. The dominance of the thermal category in the solar panel recycling market can be attributed to the widespread use of thermal solar technologies in a range of sectors, including residential, commercial, and industrial.

The fastest-growing category in the Solar Panel Recycling Market is Chemical. Chemical recycling involves the breakdown of solar panels into their constituent materials using various chemical processes. This category is experiencing rapid growth due to several factors driving its adoption and demand within the market. As the solar energy industry continues to expand, the volume of end-of-life solar panels reaching the end of their operational lifespan is also increasing. Chemical recycling offers an efficient and effective method for recovering valuable materials from decommissioned solar panels, including silicon, metals, and other components.

• Thermal
• Mechanical
• Chemical
• Combination
• Laser

Author's Detail

Ashwini Moharir

Research Analyst at Cognitive Market Research

LinkedIn

Profile

Enthusiastic and analytical market research professional with 2 years of hands-on experience in tracking market trends, evaluating consumer behavior, and supporting strategic decision-making. Proficient in designing surveys, conducting interviews, and synthesizing insights from both primary and secondary sources. Successfully contributed to research projects across sectors such as retail, personal care, and industrial markets. Brings a keen eye for detail, strong data interpretation skills, and a passion for uncovering what drives markets forward. Comfortable working in fast-paced environments and collaborating across departments to deliver clear, actionable findings.

Author's Conclusion