Global Solar Panel Recycling Market Grows Steadily at a CAGR of 20.75%

Introduction

A key factor driving the growth of the global solar panel recycling market is the enforcement of strict environmental regulations and Extended Producer Responsibility (EPR) policies, especially in regions such as the European Union. These regulations require the proper management, disposal, and recycling of end-of-life (EoL) photovoltaic (PV) modules, prompting manufacturers and waste management companies to invest in eco-friendly recycling infrastructure.

Additionally, the limited availability and increasing costs of essential raw materials like silver, silicon, and indium are fueling the demand for recovering these materials from retired solar panels. This need is amplified by concerns over resource sustainability and potential supply chain disruptions in the renewable energy industry. Furthermore, various governments worldwide are introducing subsidies and incentives to support recycling efforts in the solar sector, creating a favorable environment for market expansion.

Market Dynamic

Rapid growth of solar PV installations globally drives the global market

The rapid expansion of solar photovoltaic (PV) installations worldwide is emerging as a major driver for the solar panel recycling market. As nations increasingly adopt renewable energy to achieve their climate objectives, the number of installed solar panels is growing rapidly, leading to a projected surge in end-of-life (EoL) panels in the near future.

• According to the International Energy Agency (IEA), approximately 597 gigawatts (GW) of new solar capacity were added globally in 2024—a 33% increase over 2023—bringing the total installed capacity to nearly 2.5 terawatts (TW). Looking ahead, BloombergNEF forecasts that global solar installations could reach 698 GW in 2025, representing a continued, though slower, growth rate of 16% year-over-year.

This rapid acceleration in solar deployment highlights the pressing need for robust recycling infrastructure to handle upcoming waste volumes and recover valuable materials in an environmentally responsible manner.

Private-sector collaboration creates tremendous opportunities

One of the prominent growth opportunities in the global solar panel recycling market lies in the development of strategic collaborations between solar panel manufacturers and recycling companies to create closed-loop solar ecosystems. These alliances focus on optimizing material recovery and reducing environmental impact by reintroducing valuable resources from retired panels back into the manufacturing process.

• For example, in February 2024, leading solar module producer Qcells joined forces with SOLARCYCLE to recycle end-of-life solar panels. This partnership supports Qcells' growth strategy and sustainability objectives, aiming to reclaim up to 95% of materials such as aluminum, silver, copper, silicon, and low-iron glass from used panels.

These collaborative efforts not only strengthen supply chain sustainability but also support compliance with environmental regulations and corporate ESG commitments. With solar panel waste projected to rise significantly, such partnerships are poised to drive scalable and eco-friendly recycling solutions throughout the industry.

Regional Analysis

Europe is a frontrunner in the solar panel recycling market, driven by strict environmental regulations and ambitious renewable energy targets. The European Union's Waste Electrical and Electronic Equipment (WEEE) Directive mandates producers to handle the end-of-life management of solar panels, fostering a robust recycling framework. Countries like Germany and France have established dedicated recycling facilities, such as Veolia’s PV panel recycling plant in Rousset, which utilizes advanced robotic systems to recover over 95% of valuable materials.

Additionally, the EU’s Green Deal and Circular Economy Action Plan support innovation in solar waste management. Startups like SolarCycle are collaborating with energy providers to create closed-loop recycling systems. With aging solar infrastructure from early adoption in the 2000s now reaching disposal stages, Europe is witnessing rising volumes of recyclable PV modules, reinforcing its leadership in sustainable solar panel lifecycle management.

Key Highlights

• The global solar panel recycling market size was valued at USD 305.64 million in 2024 and is projected to grow from USD 369.06 million in 2025 to reach USD 1667.99 million by 2033, growing at a CAGR of 20.75% during the forecast period (2025–2033).
• By type, the global solar panel recycling market is segmented into monocrystalline, polycrystalline, and thin film. The monocrystalline segment dominated the market.
• By recycling process, the market is categorized into mechanical recycling, thermal recycling, laser recycling, and other methods. The mechanical recycling segment held the largest market share.
• By material recovered, the market includes silicon, glass, metals (silver, aluminum, copper, etc.), plastic, and other materials. The metals segment held a dominant market share.
• By shelf life, the market is divided into early loss and normal loss. The early loss segment dominated the market.
• Europe is the highest shareholder in the global market.

Competitive Players

1. First Solar
2. Veolia Environment S.A.
3. Reiling Group
4. Canadian Solar
5. Envaris GmbH
6. Silcontel Ltd.
7. Rinovasol Group
8. Cleanaway Waste Management Limited
9. Echo Environmental
10. LLC
11. ECS Refining

Recent Developments

• In May 2025- Ecoprogetti introduced a fully automated solar panel recycling line that boasts impressive recovery rates: 100% for aluminum, 99% for copper and glass, 98.5% for plastic, and 95% for silicon. This system processes up to 60 panels per hour and is designed to be energy-efficient, consuming 40% less energy than conventional methods.

Segmentation

1. By Type
   1. Monocrystalline
   2. Polycrystalline
   3. Thin Film
2. By Recycling Process:
   1. Mechanical Recycling
   2. Thermal Recycling
   3. Laser Recycling
   4. Other
3. By Material Recovered:
   1. Silicon
   2. Glass
   3. Metals (Silver, Aluminum, Copper, etc.)
   4. Plastic
   5. Other Materials
4. By Shelf Life
   1. Early Loss
   2. Normal Loss
5. By Regions
   1. North America
   2. Europe
   3. Asia-Pacific
   4. Latin America
   5. The Middle East and Africa