Summary
Triton’s report suggests that the Latin America solar panel recycling market is set to progress at a CAGR of 13.24% during the forecasted phase 2024-2032.
The solar panel recycling market in Latin America is slowly gaining momentum as the region’s solar capacity continues to expand. In Brazil, companies like SunR are taking the lead in recycling efforts. As per industry sources, SunR has already processed over 30 tons of solar panels and anticipates managing another 125 tons in the near future. This indicates a growing need for recycling technologies. Current efforts focus mainly on recycling damaged or faulty panels. The lack of specific regulations for solar panel recycling is a challenge, though existing waste policies are starting to cover solar panel waste.
The countries reviewed in this region include Brazil, Mexico, and Rest of Latin America.
Brazil leads with major market share, accumulating around $3.1 million in 2023
• While Brazil currently lacks specific legislation dedicated solely to solar panel recycling, the National Policy for Solid Waste (PNRS) and related decrees provide a legal framework that includes solar panels under broader electronic waste regulations.
• This policy supports reverse logistics, a key method of ensuring that used panels are collected, transported, and properly processed.
• Additionally, Brazil’s general recycling infrastructure has weaknesses, including insufficient public investment and challenges in waste separation practices. Addressing these challenges will be crucial to ensure the expansion of the solar panel recycling market.
Market Forecast for Mexico
With Mexico’s increasing investment in renewable energy, particularly solar power, the demand for sustainable end-of-life management of solar panels is becoming more pressing. The country has a large solar power capacity driven by government incentives like the Energy Transition Law, which promotes renewable energy use. Initiatives such as the development of specialized recycling facilities and research on improving recycling processes are emerging. For example, Mexico’s National Institute for Electricity and Clean Energies (INEEL) has been researching methods to enhance the recycling of photovoltaic (PV) panels, aiming to recover valuable materials like silicon, glass, and metals. As these efforts progress, the scope of the solar panel recycling market is expected to expand.
The market is branched into process, end-user, shelf life, and technology. In terms of process, it is divided into thermal & chemical, mechanical, and laser.
Thermal and chemical processes play a vital role in recovering valuable materials from end-of-life solar panels. Thermal processes, such as pyrolysis, involve heating the panels at high temperatures in the absence of oxygen to break down the materials without combustion. This method helps in recovering metals like aluminum and glass, while reducing the size of waste. Chemical processes, on the other hand, involve the use of solvents or acids to dissolve and separate the various components of a panel, particularly the recovery of valuable semiconductors like silicon and silver. Combining these processes effectively can enhance material recovery rates, making solar panel recycling more efficient.
Contender Analysis in the Solar Panel Recycling Market:
Reiling Group focuses on the collection and recovery of recyclable materials, prioritizing environmental sustainability and contributing to climate protection efforts. Its recycling operations span materials such as glass, plastic, wood, and photovoltaic modules, working in collaboration with various sectors, including trade, industry, commerce, municipalities, and dual recycling systems. As a comprehensive service provider, Reiling Group manages every stage of the process, from collection and transportation to processing, while delivering high-quality recycled materials.
Other notable companies offering solutions in the market include Silrec Corporation, Canadian Solar, Hanwha Group, and Echo Environmental.
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Table of Contents
TABLE OF CONTENTS
1. LATIN AMERICA SOLAR PANEL RECYCLING MARKET – SUMMARY
2. INDUSTRY OUTLOOK
2.1. PORTER’S FIVE FORCES ANALYSIS
2.1.1. THREAT OF NEW ENTRANTS
2.1.2. THREAT OF SUBSTITUTES
2.1.3. BARGAINING POWER OF BUYERS
2.1.4. BARGAINING POWER OF SUPPLIERS
2.1.5. THREAT OF COMPETITIVE RIVALRY
2.2. MARKET MATURITY ANALYSIS
2.3. SUPPLY CHAIN ANALYSIS
2.3.1. RAW MATERIALS
2.3.2. MANUFACTURERS
2.3.3. DISTRIBUTORS
2.3.4. RETAILERS/ONLINE SALES
2.3.5. END-USER
2.4. REGULATORY FRAMEWORK
2.5. KEY BUYING IMPACT ANALYSIS
2.5.1. COST
2.5.2. USABILITY
2.5.3. AVAILABILITY
2.6. KEY MARKET STRATEGIES
2.6.1. COLLABORATIONS
2.6.2. PRODUCT LAUNCHES
2.6.3. ACQUISITIONS
2.6.4. BUSINESS DIVESTITURES & EXPANSIONS
2.7. MARKET DRIVERS
2.7.1. INCREASING DEMAND FOR RECYCLED MATERIALS FUELED BY ENVIRONMENTAL AWARENESS AND COST EFFICIENCY
2.7.2. INCREASING VOLUME OF DECOMMISSIONED SOLAR PANELS
2.8. MARKET CHALLENGES
2.8.1. UNDERDEVELOPED RECYCLING TECHNOLOGIES
2.8.2. INFRASTRUCTURE LIMITATIONS
2.8.3. HIGH TRANSPORTATION COSTS
2.9. MARKET OPPORTUNITY
2.9.1. EMERGING TECHNOLOGIES IMPROVING EFFICIENCY AND SUSTAINABILITY
2.10. ANALYST PERSPECTIVE
3. LATIN AMERICA SOLAR PANEL RECYCLING MARKET – BY PROCESS
3.1. THERMAL & CHEMICAL
3.2. MECHANICAL
3.3. LASER
4. LATIN AMERICA SOLAR PANEL RECYCLING MARKET – BY SHELF LIFE
4.1. EARLY LOSS
4.2. NORMAL LOSS
5. LATIN AMERICA SOLAR PANEL RECYCLING MARKET – BY TECHNOLOGY
5.1. SILICON-BASED (C-SI))
5.1.1. MONOCRYSTALLINE
5.1.2. POLYCRYSTALLINE
5.2. THIN-FILM BASED
5.2.1. CADMIUM TELLURIDE (CDTE)
5.2.2. COPPER INDIUM GALLIUM (DI)SELENIDE (CIGS)
5.3. OTHER TECHNOLOGIES
6. LATIN AMERICA SOLAR PANEL RECYCLING MARKET – BY END-USER
6.1. RESIDENTIAL
6.2. COMMERCIAL/INDUSTRIAL
6.3. UTILITY
7. LATIN AMERICA SOLAR PANEL RECYCLING MARKET – BY COUNTRY OUTLOOK
7.1. LATIN AMERICA
7.1.1. COUNTRY ANALYSIS
7.1.1.1. BRAZIL
7.1.1.1.1. BRAZIL SOLAR PANEL RECYCLING MARKET FORECAST & PROSPECTS
7.1.1.2. MEXICO
7.1.1.2.1. MEXICO SOLAR PANEL RECYCLING MARKET FORECAST & PROSPECTS
7.1.1.3. REST OF LATIN AMERICA
7.1.1.3.1. REST OF LATIN AMERICA SOLAR PANEL RECYCLING MARKET FORECAST & PROSPECTS
8. COMPETITIVE LANDSCAPE
8.1. SHARP CORPORATION
8.1.1. OVERVIEW
8.1.2. PORTFOLIO
8.1.3. KEY STRENGTHS
8.1.4. KEY CHALLENGE
8.2. SUNPOWER CORPORATION
8.2.1. OVERVIEW
8.2.2. PORTFOLIO
8.2.3. KEY STRENGTHS
8.2.4. KEY CHALLENGE
8.3. SILREC CORPORATION
8.3.1. OVERVIEW
8.3.2. PORTFOLIO
8.3.3. KEY STRENGTH
8.3.4. KEY CHALLENGE
8.4. CANADIAN SOLAR
8.4.1. OVERVIEW
8.4.2. PORTFOLIO
8.4.3. KEY STRENGTHS
8.4.4. KEY CHALLENGE
8.5. HANWHA GROUP
8.5.1. OVERVIEW
8.5.2. PORTFOLIO
8.5.3. KEY STRENGTHS
8.5.4. KEY CHALLENGES
8.6. GREENBRILLIANCE LLC
8.6.1. OVERVIEW
8.6.2. PORTFOLIO
8.6.3. KEY STRENGTHS
8.6.4. KEY CHALLENGE
8.7. AURUBIS AG
8.7.1. OVERVIEW
8.7.2. PORTFOLIO
8.7.3. KEY STRENGTHS
8.7.4. KEY CHALLENGES
8.8. REILING GROUP
8.8.1. OVERVIEW
8.8.2. PORTFOLIO
8.8.3. KEY STRENGTHS
8.8.4. KEY CHALLENGES
8.9. ECHO ENVIRONMENTAL
8.9.1. OVERVIEW
8.9.2. PORTFOLIO
8.9.3. KEY STRENGTHS
8.9.4. KEY CHALLENGES
8.10. FIRST SOLAR INC
8.10.1. OVERVIEW
8.10.2. PORTFOLIO
8.10.3. KEY STRENGTHS
8.10.4. KEY CHALLENGE
9. RESEARCH METHODOLOGY & SCOPE
9.1. RESEARCH SCOPE & DELIVERABLES
9.2. SOURCES OF DATA
9.3. RESEARCH METHODOLOGY
LIST OF TABLES
TABLE 1: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
TABLE 2: REGULATORY FRAMEWORK
TABLE 3: LIST OF COLLABORATIONS
TABLE 4: LIST OF PRODUCT LAUNCHES
TABLE 5: LIST OF ACQUISITIONS
TABLE 6: LIST OF BUSINESS DIVESTITURES & EXPANSIONS
TABLE 7: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY PROCESS, 2024-2032 (IN $ MILLION)
TABLE 8: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY SHELF LIFE, 2024-2032 (IN $ MILLION)
TABLE 9: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY TECHNOLOGY, 2024-2032 (IN $ MILLION)
TABLE 10: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY SILICON-BASED (C-SI), 2024-2032 (IN $ MILLION)
TABLE 11: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY THIN-FILM BASED, 2024-2032 (IN $ MILLION)
TABLE 12: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY END-USER, 2024-2032 (IN $ MILLION)
TABLE 13: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
LIST OF FIGURES
FIGURE 1: MARKET MATURITY ANALYSIS
FIGURE 2: SUPPLY CHAIN ANALYSIS
FIGURE 3: KEY BUYING IMPACT ANALYSIS
FIGURE 4: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY PROCESS, 2023 & 2032 (IN %)
FIGURE 5: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY THERMAL & CHEMICAL, 2024-2032 (IN $ MILLION)
FIGURE 6: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY MECHANICAL, 2024-2032 (IN $ MILLION)
FIGURE 7: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY LASER, 2024-2032 (IN $ MILLION)
FIGURE 8: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY SHELF LIFE, 2023 & 2032 (IN %)
FIGURE 9: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY EARLY LOSS, 2024-2032 (IN $ MILLION)
FIGURE 10: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY NORMAL LOSS, 2024-2032 (IN $ MILLION)
FIGURE 11: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY TECHNOLOGY, 2023 & 2032 (IN %)
FIGURE 12: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY SILICON-BASED (C-SI), 2024-2032 (IN $ MILLION)
FIGURE 13: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY SILICON-BASED (C-SI), 2023 & 2032 (IN %)
FIGURE 14: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY MONOCRYSTALLINE, 2024-2032 (IN $ MILLION)
FIGURE 15: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY POLYCRYSTALLINE, 2024-2032 (IN $ MILLION)
FIGURE 16: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY THIN-FILM BASED, 2024-2032 (IN $ MILLION)
FIGURE 17: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY THIN-FILM BASED, 2023 & 2032 (IN %)
FIGURE 18: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY CADMIUM TELLURIDE (CDTE), 2024-2032 (IN $ MILLION)
FIGURE 19: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY COPPER INDIUM GALLIUM (DI)SELENIDE (CIGS), 2024-2032 (IN $ MILLION)
FIGURE 20: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY OTHER TECHNOLOGIES, 2024-2032 (IN $ MILLION)
FIGURE 21: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY END-USER, 2023 & 2032 (IN %)
FIGURE 22: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY RESIDENTIAL, 2024-2032 (IN $ MILLION)
FIGURE 23: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY COMMERCIAL/INDUSTRIAL, 2024-2032 (IN $ MILLION)
FIGURE 24: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY UTILITY, 2024-2032 (IN $ MILLION)
FIGURE 25: LATIN AMERICA SOLAR PANEL RECYCLING MARKET, BY COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 26: BRAZIL SOLAR PANEL RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 27: MEXICO SOLAR PANEL RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 28: REST OF LATIN AMERICA SOLAR PANEL RECYCLING MARKET 2024-2032 (IN $ MILLION)
