Global PV Recycling Market Strategic Research Report

Scope of the Report

The global PV Recycling market size is predicted to grow from US$ 74.7 million in 2025 to US$ 598 million in 2032; it is expected to grow at a CAGR of 35.3% from 2026 to 2032.

With the rapid development of photovoltaic power generation, the recycling and reuse of used photovoltaic modules has emerged. Crystalline silicon photovoltaic modules are generally divided into monocrystalline and polycrystalline silicon modules. Monocrystalline silicon modules have the most mature technology and the highest conversion efficiency. The main structure of a photovoltaic module can be divided into five parts: metal frame, tempered glass, crystalline silicon wafer, backsheet, and EVA. The structure and weight ratio of each component show that glass accounts for 68% of the total module mass, aluminum frame accounts for over 17%, and silicon wafer accounts for 3.46%, totaling over 88%. In terms of the recoverable value of the materials that make up crystalline silicon photovoltaic modules, silicon, glass, copper, silver, and aluminum have the highest recycling value. The modules contain a wealth of potentially reusable resources. The aluminum frame, silver grid wire, tin-copper wire, and glass can be processed into industrial products. Rare metals such as steel, gallium, germanium, and tellurium in the crystalline silicon panel can be recycled and used in the production of new equipment. Therefore, the proper recycling of photovoltaic modules not only conserves resources and reduces the extraction of primary resources, but also provides substantial economic returns. Photovoltaic modules within crystalline silicon cells exhibit a sandwich structure, requiring separation and extraction processes to truly recycle and reuse decommissioned modules. Currently, the mainstream technologies for recycling used photovoltaic modules can be categorized into three main types: thermal treatment, physical methods, and chemical methods. Physical treatment involves mechanized, large-scale, and efficient processing of photovoltaic modules through crushing and cutting. The resulting products often form a mixture. Thermal treatment effectively removes ethylene-vinyl acetate copolymer (EVA), but this also involves the release of olefins, alkanes, and some harmful metals into the gas phase. Recovering valuable metal elements and silicon from photovoltaic modules requires chemical extraction and refining, often using reagents such as HF and HNO₃ to extract silicon and valuable metal elements. A comprehensive module recycling process can be constructed by combining these various methods.

According to the "China Carbon Neutrality by 2060 Research Report" released by the Global Energy Interconnection Development and Cooperation Organization, China's installed photovoltaic capacity will reach 1.5 billion kilowatts by 2035. At the same time, the annual retirement of photovoltaic capacity will reach 110 million kilowatts, corresponding to approximately 1.05 million tons of scrapped photovoltaic modules. Faced with the impending wave of photovoltaic module obsolescence, several viable photovoltaic module recycling technologies have been developed both domestically and internationally. However, China's recycling scale is currently relatively small, and a corresponding industrial chain has yet to be established. To achieve efficient, low-energy, and low-cost recycling and gain greater market competitiveness, in addition to developing advanced processes and equipment, policy support from relevant national and industry organizations is crucial for the early stages of industrial development in the photovoltaic module recycling industry. By 2030, the global total of retired photovoltaic modules will reach 8 million tons, with China's cumulative retired photovoltaic module volume expected to reach 1.5 million tons. Recyclable components such as aluminum frames, tempered glass, crystalline silicon cells, backsheets, and EVA encapsulant film account for over 90% of these retired photovoltaic modules. In 2025, China will begin to produce large quantities of retired photovoltaic modules; after 2030, the amount of discarded photovoltaic modules will reach a peak, reaching about 18GW, or about 1.4 million tons of waste. This will bring about a huge market for photovoltaic recycling.

This report presents a comprehensive overview of the global PV Recycling market, covering market size and forecast, segmentation by product type and application, competitive landscape, leading players and regional and country-level outlook.

Segment by Type

• Single Crystal Components
• Polycrystalline Components
• Thin film components

Segment by Application

• Component Reuse
• Material Recycling

Who Can Use This Report?

This report is written for decision-makers who need a clear, data-backed view of the global PV Recycling market:

• Manufacturers, suppliers and solution providers benchmarking their position and planning product, capacity and go-to-market strategy
• Distributors, channel partners and end users in Component Reuse, Material Recycling evaluating demand and sourcing options
• Investors, financial analysts and consultants assessing growth opportunities, competitive dynamics and M&A potential
• Government agencies, industry associations and research institutions tracking industry developments and policy impact