Battery Recycling Market Report

Market Analysis

• The battery recycling market size was valued at USD 2.6 billion in 2024. The market is expected to reach USD 3.6 billion in 2025, up 38.8% than the value in 2024.
• During the forecast period of 2025-2032, the battery recycling market is expected to grow at a CAGR of 37.9% to reach USD 35 billion in 2032.
• During 2025-2032, the battery recycling industry is expected to generate a cumulative sales opportunity of USD 118 billion.

Battery Recycling Market Statistics

Have a look at the sales opportunities presented by the battery recycling market in terms of growth, market forecast and segment opportunities.

Market Dynamics

Introduction:

What is Battery Recycling?

Battery recycling is the process of collecting and reprocessing used or spent batteries to recover valuable materials like lithium, cobalt, nickel, and lead. These materials can then be reused in the production of new batteries or other products. Recycling helps reduce environmental pollution, conserves natural resources, and supports the sustainable management of battery waste, especially with the growing use of electric vehicles and electronic devices.

Market Drivers:

Rising Demand for Electric Vehicles (EVs)

The rising demand for electric vehicles (EVs) is a key driver of the battery recycling market. According to various sources, the global EV production is expected to surpass 20 million units by 2025, increasing the volume of end-of-life lithium-ion batteries. These batteries are rich in critical minerals such as lithium, cobalt, and nickel, resources that are not only costly to extract but also finite in availability. Through recycling, these valuable materials can be efficiently recovered, minimizing dependence on raw material mining, mitigating environmental impact, and reducing overall battery production costs. As the EV industry moves toward circular practices, battery recycling plays a vital role in ensuring long-term sustainability and supply chain resilience.

Market Challenges:

High Cost and Limited Infrastructure for Battery Recycling

One of the major challenges facing the battery recycling market is the high cost and limited availability of specialized recycling infrastructure. The complex and hazardous nature of lithium-ion battery disassembly requires advanced technologies, skilled labor, and strict safety protocols, all of which drive up operational expenses. Additionally, the lack of widespread collection and processing facilities, especially in emerging economies, restricts the scalability and accessibility of efficient battery recycling practices.

Market Opportunities:

Growing Adoption of Renewable Energy Sources

The growing adoption of renewable energy sources such as solar and wind is creating a significant opportunity for the battery recycling market. As grid-scale and residential energy storage systems increasingly rely on lithium-ion batteries for storing intermittent renewable power, the volume of deployed batteries is rising rapidly. Over time, these energy storage batteries reach end-of-life, contributing to battery waste. Recycling them enables the recovery of critical materials, supports sustainable energy infrastructure, and helps meet the material demands of expanding clean energy storage systems, positioning battery recycling as a vital link in the renewable energy value chain.

Market Segments' Analysis

By Type Type

“Lead Acid dominates the market and is anticipated to experience the fastest growth during the forecast period.”

• Based on chemistry type, the lead-acid segment held the largest market share and is expected to grow at a significant CAGR during the forecast period.
• Lead-acid batteries are more suitable for recycling than other types due to their high content of reusable lead and plastic components.
• Recycling companies collect spent batteries from consumers for recovery and reuse. These batteries are first broken down, with the plastic materials sent to recyclers, where they are processed and reshaped through extrusion.

By Application Type

“Transportation segment is anticipated to grow at the highest CAGR during the forecast period.”

• Based on application type analysis, the Battery Recycling market is segmented into Transportation, Consumer Electronics, and Industrial segments. Out of which, the transportation industry makes extensive use of lithium-ion, lead-acid, and nickel metal-hydride batteries.
• The rapid rise of the electric vehicle market is adding to the volume of spent lithium-ion batteries, further increasing demand for efficient and sustainable recycling solutions in the transportation industry.

Regional Analysis

“Asia-Pacific is expected to lead the Battery Recycling Market during the forecast period.”

• Asia Pacific is home to major battery manufacturers and automotive markets, especially in countries like China, Japan, South Korea, and India. This results in a large volume of battery usage and subsequent end-of-life battery generation.
• Supportive government initiatives, including strict regulations on battery disposal and incentives for recycling infrastructure development, are driving the growth of the market in this region.

Key Players

Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the battery recycling market -  

• Call2Recycle
• Exide Technologies
• Gravita India Ltd.
• Glencore
• Cirba Solutions
• American Battery Technology Company
• Gopher Resource
• East Penn Manufacturing Co.
• Aqua Metals

Note: The above list does not necessarily include all the top players in the market.

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Recent Developments/Mergers & Acquisitions:

• In February 2024, Cirba Solutions and EcoPro entered into a Memorandum of Understanding (MoU) to enhance lithium-ion battery recycling. This partnership is significant amid the rising demand for battery materials and the growing emphasis on clean energy production in the United States.
• In April 2023, Cirba Solutions signed a Memorandum of Understanding (MoU) with Honda to collect, process, and return recycled battery materials, which will be reused as raw materials in Honda’s battery supply chain for future electric vehicle (EV) batteries.
• In February 2023, Contemporary Amperex Technology Co., Limited, Mercedes-Benz, and GEM Co., Ltd. signed a Memorandum of Understanding to recycle cobalt, nickel, manganese, and lithium from Mercedes-Benz’s spent EV batteries and convert them into battery cathode materials.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The global battery recycling market is segmented into the following categories. 

Global Battery Recycling Market, by Chemistry Type

• Lithium-ion
• Lead Acid
• Nickel

Global Battery Recycling Market, by Application Type

• Transportation
• Consumer Electronics
• Industrial

Global Battery Recycling Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, Italy, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s global battery recycling market realities and future market possibilities for the forecast period.

• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 2.6 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respected clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

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