U.K. solar panel recycling management market to register notable CAGR of 35% over 2016-2024

Imposition of strict regulations to boost effective recycling of decommissioned PV panels is likely to drive global solar panel recycling management market outlook over 2016-2024. Solar panels are witnessing heavy adoption across the globe, even in the regions where its potential was untapped, giving rise to substantial increase in solar waste volume. Average shelf life of a solar panel is around 30 years and after that they are required to be dismantled from service and discarded. With solar power existing for quite some time now, especially in developed economies, there has been an increase in the volume of decommissioned panels, evoking interest in solar panel recycling management.

Solar power generation systems have been gaining unprecedented attention as an environmentally beneficial method to solve the problem of energy crisis. Multiple countries across the world are adopting these systems for sustainable utilization of energy. Expansive proliferation of PV panels is directly expanding panel recycling management market size.

Various environment-focused organizations, such as EPA have laid down regulations referring to MSDSs (Materials Safety Data Sheets), TRI (Toxics Release Inventory), RCRA (Resource Conservations & Recovery Act), TCLP (Toxicity Characteristic Leaching Procedure) standards and HWCL (Hazardous Waste Control Law), which is further favoring industry expansion. In terms of revenue, solar panel recycling management market size is forecast to cross the USD 360 million mark by 2024.

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How is solar panel recycling management industry gaining from rapid deployment of mechanical recycling process?

Solar panel recycling processes are categorized as thermal, mechanical, and laser processes. The mechanical process is widely adopted due to its reasonable pricing. From mechanical processes, solar panel recycling management market will garner revenue of over USD 300 million through 2024.

That being said, other processes, such as thermal and laser processes have also been gaining remarkable traction. In thermal process, silicon content in the manufacturing of PV panels considerably decreases. In 2015, thermal processes segment was valued over USD 1 million.

Recently introduced laser process is a new technology and is likely to showcase considerable growth rate of around 45% over 2016-2024 owing to increasing adoption.

How will solar panel recycling management industry derive gains from regular loss?

With an average shelf-life of 30 years, solar panels that are decommissioned after completing the average span are classified under regular loss. From regular loss, solar panel recycling management industry is expected to generate profits of around $ 250 million over 2016-2024.

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However, early loss also contributes substantially to the overall share and solar panel recycling management market share from early loss is expected to witness gains at over 30% through 2024. The PV panels which decommission before the end of the average 30 years shelf life are classified as early loss. Such exponential growth in early decommissioning of solar panel can be attributed to factors such as low quality of materials used for its production, prevalence of harsh weather conditions, etc.

Which are the major regions offering lucrative growth scope for solar panel recycling management market?

In 2015, U.S. solar panel recycling management industry gained profits of around USD 5 million and is predicted to witness heightened adoption of PV panels in the coming years. Such heavy adoption can be attributed to stringent regulations towards recycling across the region.

In 2013, UK Waste Electrical and Electronic Equipment Directive introduced regulations for slashing solar waste by mandating manufacturers in the industry to take back decommissioned solar panels for recycling. In the UK, PV producers are also required to update appropriate data sought by the government and register with Producer Compliance Scheme. UK solar panel recycling management industry share is estimated to register a notable CAGR of 35% over the analysis period.

China solar panel recycling management industry size is forecast to cross the USD 50 million mark through 2024 due to initiation of recycling programs to reduce PV panel waste in the region.

Table Of Content

Chapter 1    Methodology & Scope

1.1    Research Methodology

1.1.1    Initial data exploration

1.1.2    Statistical model and forecast

1.1.3    Industry insights and validation

1.1.4    Scope and assumptions

1.2    Data Sources

1.2.1   Primary

1.2.2   Secondary

Chapter 2    Executive Summary

2.1    Solar panel recycling management industry 360⁰ synopsis, 2013 - 2024

2.1.1    Business trends

2.1.2    Process trends

2.1.3    Product trends

2.1.4    Shelf life trends

2.1.5    Regional trends

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