As the signs of climate change become more and more prevalent with each passing year and the pollution levels soar all over the world due to the extensive usage of fossil fuels for power generation, the popularity of renewable energy sources grows rapidly across the world. Moreover, the increasing energy crisis in several countries and the mushrooming rate of toxic carbon emissions into the atmosphere are propelling the requirement for eco-friendly power production methods across the globe.

As these wastes contain environmentally toxic substances, they contribute heavily toward the environmental degradation. This makes the recycling of solar panels very necessary for mitigating the emission of toxic substances and maintaining the planet’s ecological balance. Due to these factors, the demand for solar panel recycling is growing rapidly which is, in turn, fueling the expansion of the global solar panel recycling market. Laser, mechanical, and thermal processes are the main methods by which solar panels are recycled.

Out of these, the demand for mechanical recycling processes was found to be the highest during the last few years. Moreover, the popularity of these processes is predicted to soar all over the world in the coming years, on account of their environment-friendly and economical nature. Depending on solar panel type, the solar panel recycling market is classified into polycrystalline, thin film, and monocrystalline categories. Out of these, the monocrystalline category is currently registering the highest growth in the market.

This is because of the high consumer preference for monocrystalline solar panels over the others, on account of the several beneficial traits of these panels such as their high efficiency, excellent grade material, higher space efficiency, high heat resistance, and longer shelf life. When shelf life is taken into consideration, the market for solar panel recycling is divided into early loss and normal loss categories. Between these, the early-loss shelf life category recorded higher growth in the market in the past.

Therefore, it can be said with full certainty that the demand for solar panel recycling will surge all over the world in the future years, mainly because of the rising usage of solar panels for power generation and the growing requirement for sustainable and environment-friendly power production methods.