International – The global solar panel recycling market will be worth over US$ 384 million by 2025, new data by Grand View Research suggests. The mono-crystalline solar panels represented some 51% of the global solar panel recycling market in 2016.
In terms of value, the market is expected to record a compound annual growth rate of 22.1% from 2017 to 2025.
This is mostly thanks to increasing adoption and government regulations on solar module recycling.
In terms of revenue, thin film panel segment is expected to denote a compound annual growth rate of 25.9% from 2017 to 2025. Driving factors are high flexibility and low-cost advantages offered by the panels relative to other segments.
The report concludes that Europe is the ‘leading market’ for solar panel recycling. Here, this sector was valued at US$ 28.3 million last year. Europe is expected to witness ‘significant demand’ in the years ahead considering the growing government regulations in light of sustainability concerns.
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