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The International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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Global Solar Panel Recycling Market Research Report:

The latest report by IMARC, titled “ Solar Panel Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

” " the global solar panel recycling market reached a value of US$ 110.4 Million in 2021. Solar panel involves the use of multiple solar cells that absorb energy from the sun to produce electricity. They are extensively utilized across multiple sectors for a vast array of applications. Since the lifespan of these panels is limited to thirty years, there has been a considerable rise in the preference for recycling and reusing the components instead of disposing of off them to reduce waste generation. Solar panel recycling is a process that involves decommissioning, collecting and sorting used components of solar panels. Its adoption prevents the release of hazardous substances from waste streams to minimize greenhouse (GHG) gas emissions of photovoltaic (PV) modules.

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Global Solar Panel Recycling Market Trends :

The global market is majorly driven by the increasing sales of solar panels on account of an enhanced focus on sustainable development. Due to the rising awareness regarding the increasing pollution levels, there has been a considerable rise in the preference for renewable energy sources, which is creating a positive outlook for the market. Moreover, strict regulations and policies implemented by the governments of numerous countries, including product stewardship and rising landfill costs, have led to the growing preference for solar panel recycling across the globe. Additionally, numerous private and public agencies are legalizing recycling processes while implementing several solar energy projects, which is anticipated to create lucrative growth opportunities for the manufacturers operating in the industry. Some of the other factors contributing to the market growth include the rising need to ensure end-of-life (EoL) management while minimizing human health risks and extensive research and development (R&D) activities conducted by key players to recover and recycle rare metal elements. On account of the aforementioned factors, the market is expected to grow at a CAGR of 18.42% during the forecast period (2022-2027).

Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).