Middle East and Africa Solar Panel Recycling Market Size (2024 - 2029)

The Middle East and Africa solar panel recycling market is poised for growth, driven by the increasing generation of solar panel waste and supportive governmental initiatives. Despite the challenges posed by the high costs of recycling compared to the economic value of recovered materials, the market has rebounded to pre-pandemic levels. The development of innovative recycling methods offers significant opportunities for market expansion. South Africa is anticipated to experience notable growth within this market during the forecast period.

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Market Size of Middle East and Africa Solar Panel Recycling Industry

Middle East and Africa Solar Panel Recycling Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 11.40 %
Market Concentration Medium

Major Players

Middle East and Africa Solar Panel Recycling Market Major Players

*Disclaimer: Major Players sorted in no particular order

MEA Solar Panel Recycling Market Analysis

The Middle East and African solar panel recycling market is expected to register a CAGR of more than 11.4% during the forecast period.

The market was negatively impacted by the COVID-19 pandemic in 2020. Presently, it has reached pre-pandemic levels.

  • Over the long term, factors such as increasing solar panel waste generation across the region, coupled with increasing focus of the respective governments and organizations on solar panel recycling through supportive initiatives, policies, and regulations, are expected to drive the market studied during the forecast period.
  • On the flip side, with recycling costing more than the economic value of the recovered materials, companies are not expected to invest in recycling activities, thereby negatively impacting the market's growth.
  • The development of new recycling methods to increase efficiency, reduce downsides, and reduce recycling costs is expected to present huge opportunities for solar panel recycling players in the coming years.
  • South Africa is expected to witness significant growth in the Middle East and African solar panel recycling market during the forecast period.

MEA Solar Panel Recycling Industry Segmentation

Solar panels contain toxic substances that can harm the environment if disposed on landfills, thus, defeating the purpose of making solar energy sustainable. Therefore, the recycling of used solar panels is necessary. The Middle East and African solar panel recycling market is segmented by process, type, and geography. By process, the market is segmented into thermal, mechanical, chemical, and other processes. By type, the market is segmented into crystalline silicon and thin film. By geography, it is segmented into South Africa, Egypt, the United Arab Emirates, and the Rest of Middle East and Africa. For each segment, the market sizing and forecasts have been done based on value (USD million).

By Process
Thermal
Mechanical
Chemical
Other Processes
By Type
Crystalline Silicon
Thin Film
By Geography
South Africa
Egypt
United Arab Emirates
Rest of Middle East and Africa
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Middle East and Africa Solar Panel Recycling Market Size Summary

The Middle East and Africa solar panel recycling market is poised for substantial growth, driven by increasing solar panel waste generation and heightened governmental and organizational focus on recycling initiatives. Despite the initial setbacks caused by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. The development of new recycling methods is anticipated to create significant opportunities for market players, although the economic viability of recycling remains a challenge due to high costs compared to the value of recovered materials. South Africa is expected to be a key growth area within the region, supported by its status as a leading solar PV market, despite current limitations in recycling infrastructure.

Crystalline silicon solar panels dominate the market, with their recycling process yielding a high percentage of reusable materials, although challenges remain in reducing impurities to enhance resale value. The recycling of glass, a major component of solar panels, is relatively low-cost and involves minimal investment, contributing to the market's growth prospects. South Africa, despite past stagnation in its solar market, is expected to emerge as a potential hub for solar waste recycling, driven by government investments in new technologies. The market is characterized by a consolidated nature, with major players like First Solar Inc., Interco Trading Inc., Trina Solar Ltd, SunPower Corporation, and Canadian Solar Inc. actively participating in the region's development.

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Middle East and Africa Solar Panel Recycling Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD Million, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Process

      1. 2.1.1 Thermal

      2. 2.1.2 Mechanical

      3. 2.1.3 Chemical

      4. 2.1.4 Other Processes

    2. 2.2 By Type

      1. 2.2.1 Crystalline Silicon

      2. 2.2.2 Thin Film

    3. 2.3 By Geography

      1. 2.3.1 South Africa

      2. 2.3.2 Egypt

      3. 2.3.3 United Arab Emirates

      4. 2.3.4 Rest of Middle East and Africa

Middle East and Africa Solar Panel Recycling Market Size FAQs

The Middle East and Africa Solar Panel Recycling Market is projected to register a CAGR of greater than 11.40% during the forecast period (2024-2029)

Canadian Solar Inc., First Solar, Inc., SunPower Corporation, Trina Solar Ltd and Interco Trading Inc. are the major companies operating in the Middle East and Africa Solar Panel Recycling Market.

Middle East and Africa Solar Panel Recycling Report Snapshots

Middle East and Africa Solar Panel Recycling Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)