India solar cullet Market Size, Share, Competitive Landscape and Trend Analysis Report, by Source, By Separation Process and By Application : Global Opportunity Analysis And Industry Forecast, 2023-2032

India Solar Cullet Market  Outlook - 2023

The India solar cullet market was valued for $0.2 million in 2022 and is estimated to reach $1.9 million by 2032, exhibiting a CAGR of 24.9% from 2023 to 2032.

Solar cullet refers to small pieces of broken or waste photovoltaic (PV) glass. It typically refers to the glass that has been broken or discarded from solar panel or solar collectors. It can be recycled and used as a raw material in the production of new glass products. By using solar cullet in the production process, energy and resources can be saved, as less raw materials are needed and the melting temperature can be reduced. The use of solar cullet is an important aspect of glass recycling and sustainability efforts. 

Solar panels are made up of several components, including aluminum, silicon, glass, and other materials that can have a negative impact on the environment if not disposed properly. Recycling of these panels can prevent them from ending up in landfills and leaching potentially harmful substances into soil. These factors altogether have boosted the solar panel recycling activities.

Moreover, the Indian government has set up various laws and regulations to support the recycling of solar panels. For instance, India’s E-Waste (Management and Handling) Rules, 2011 promotes recycling and/or reuse of useful material from e-waste, thereby reducing the hazardous wastes disposal. This has led the manufacturers, dealers, refurbishers, and collectors to become more linear toward recycling of solar panels, wherein solar cullet is separated for reuse purposes. This factor may act as one of the key drivers responsible for the growth of the solar cullet market. Moreover, recycling/reusing of solar cullet can have economic benefits.

Recovering cullet from damaged or broken solar panels or solar collectors can reduce the need for new glass, which in turn, is expected to reduce the overall production cost of solar products manufacturers. This factor may boost the growth of the solar cullet market during the forecast period.  However, India does not have a comprehensive recycling framework in place for solar cullet.

Although, there are some initiatives and policies that are being developed to address this issue. For instance, the National Renewable Energy Act launched by the Indian Ministry of New and Renewable Energy (MNRE) that includes collection and recycling of solar panels and its materials at the end of their useful life. Despite these initiatives, there are still challenges in implementing a comprehensive solar cullet recycling framework in India. This factor may restrain the growth of the India solar cullet market during the forecast period.  

On the contrary, India has enacted laws related to e-waste management practices that has made some progress in enhancing photovoltaic (PV) waste management practices. Moreover, India is among the largest markets for solar power in the world and the country has set up ambitious targets for the deployment of solar energy. As a result, the amount of solar cullet generated in India is expected to increase significantly. To address this, Indian government has issued guidelines for the handling and disposal of solar PV panels. The adoption of these guidelines is expected to augment the solar cullet recycling activities in the country, thus, creating remunerative opportunities for the solar cullet market in India.  

The India solar cullet market is segmented on the basis of source, separation process, and application. On the basis of source, the market is categorized into solar panels and solar collectors. On the basis of separation process, it is divided into thermal, mechanical, and chemical. By application, the market is classified into aggregate replacement, abrasives, fiberglass insulation, and others.  

India Solar Cullet Market, by Source

In 2022, the solar panel segment was the largest revenue generator, and is anticipated to grow at a CAGR of 25.4% during the forecast period. The Indian government has implemented several policies and incentives to promote the use of solar energy. For instance, the government has set a target of installing 175 GW of renewable energy capacity by 2022, which includes a significant portion of solar energy. This may surge the availability of solar cullet obtained from damaged or broken solar panels. In addition, the government offers various subsidies, tax incentives, and low-interest loans to encourage the adoption of solar energy. Moreover, recycling process helps to reduce waste and conserve resources by reusing the materials from old solar panels. It helps to reduce the environmental impact of solar panel production by reducing the amount of new materials that need to be mined or manufactured. This factor may further augment the growth of the solar cullet market obtained from solar panels.  

India Solar Cullet Market, by Separation Process 

By separation process, the thermal segment dominated the global market in 2022, and is anticipated to grow at a CAGR of 24.9% during forecast period. The thermal process is an effective and environmentally-friendly way to separate the glass from solar panels, and it is widely used in the recycling of solar panels that are not in use. This factor is the major key market trend responsible for the growth of the solar cullet market for thermal process. Furthermore, there are certain advantages associated with the use of thermal process for removing glass materials from solar equipment such as high recovery rate, energy efficiency, versatility, and cost-effectiveness that have made the recyclers to use thermal process for separating glass from various solar equipment.

India Solar Cullet Market, by Application

By application, the aggregate replacement segment is projected to grow at the highest CAGR of 25.6% during the forecast period and accounted for 43.1% of India solar cullet market share in 2022. The use of solar cullet as an aggregate replacement can provide various benefits, such as reducing the demand for natural aggregates, diverting waste from landfills, and providing a sustainable alternative for waste glass.

These factors have surged the utilization of solar cullet for aggregate replacement applications; thus, boosting the market growth. Furthermore, using solar cullet in aggregate replacement offers numerous advantages such as cost savings, its lightweight, high quality, and good material performance, which in turn, fosters the use of solar cullet for aggregate replacement purposes. 

The India solar cullet market profiles leading players that include M I R Enterprises, Ventura International Pvt. Ltd., Malik Enterprises, Global recyclers, Ambedkar Glass Cullet Enterprises, Inba Exims, Jumbo Solar, Poseidon Solar Services Pvt. Ltd., Earth Sense Recycle Pvt. Ltd., and First Solar, Inc.  

The India solar cullet market report provides in-depth competitive analysis as well as profiles of these major players.  

Report Key Highlighters

• The report provides competitive dynamics by evaluating business segments, product portfolios, target market revenue, geographical presence and key strategic developments by prominent manufacturers.
• The India solar cullet market is consolidated in nature among prominent companies such as M I R Enterprises, Ventura International Pvt. Ltd., Malik Enterprises, Global recyclers, Ambedkar Glass Cullet Enterprises, Inba Exims, Jumbo Solar, Poseidon Solar Services Pvt. Ltd., Earth Sense Recycle Pvt. Ltd., and First Solar, Inc.
• The study contains qualitative information such as the market dynamics (drivers, restraints, challenges, and opportunities), key regulation analysis, pricing analysis, and Porter’s Five Force Analysis across India.
• Latest trends in India solar cullet market such as capacity of recyclers, availability of solar cullet across various solar parks, recycle ratio, regulatory guidelines, and government initiatives are analyzed.
• More than 2,700 solar cullet-related product literatures, industry releases, annual reports, and other such documents of key industry participants along with authentic industry journals and government websites have been reviewed for generating high-value industry insights for India solar cullet market.

Key benefits for stakeholders

• Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• It outlines the current organic chemicals market trends and future estimations from 2022 to 2032 to understand the prevailing opportunities and potential investment pockets.
• The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
• The profiles of key players and their key strategic developments are enlisted in the report.

Impact Of Covid-19 On The India Solar Cullet Market

• The India solar cullet market was negatively impacted due to the wake of the COVID-19 pandemic owing to its dependence on glass manufacturing, solar abrasive manufacturing, and other industrial sectors. The pandemic caused disruptions to global supply chains, including those for solar scrap materials.
• However, key regulations imposed by the Indian government such as E-waste (Management and Handling) rules have led the agencies using solar panels in bulk amount become more linear toward recycling activities. This factor is anticipated to create new investment opportunities for the India solar cullet market during the forecast period.