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1. The mounting PV installation rates on account of dripping prices is expected to further augment the demand for solar panels. Also, the growing awareness among the users regarding the cost as well as environmental benefits associated with solar energy is likely to actuate the market demand. With the extensive research and development underway, various novel processes and mechanisms to carry out effective recycling of solar panels have evolved.
2. In terms of value, the market is expected to record a CAGR of 22.1% from 2017 to 2025 on account of increasing adoption and government regulations on solar module recycling. In terms of revenue, thin film panel segment is expected to denote a CAGR of 25.9% from 2017 to 2025 owing to high flexibility and low-cost advantages offered by the panels relative to other segments.
3. Europe was valued at USD 28.3 million in 2016 and is expected to witness significant demand over the period of forecast considering the growing government regulations in light of sustainability concerns.
4. Key participants include Yingli Energy Co. Ltd; First Solar; Canadian Solar; Envaris; ECS Refining LLC; Rinovasol; Reclaim PV Recycling; Silcontel; Reiling Group; and Silrec Corporation. The companies are focused on extensive innovation and enhancing their service quality to maintain their standing in the market.
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