Battery Material Recycling Market Analysis | 2022-2028

“The Battery Material Recycling Market was estimated at US$ 10.6 billion in 2021 and is expected to grow at a CAGR of 7.6% during 2022-2028 to reach US$ 17.77 billion in 2028”.

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Market Dynamics

Introduction

Battery recycling is a recycling process that is performed to minimize the number of batteries being disposed of as municipal solid waste, as these batteries contain various heavy metals and toxic chemicals that can contaminate the soil and cause water pollution if disposed of as regular household waste.

Market Drivers

The prime factors that are contributing to the growth of the market are-

• The growing automobile sector, escalating demand for smart devices and electronic gadgets and motor vehicle production.
• High demand for Li-ion technology in electric vehicles is expected to fuel the growth of the market.

Segments Analysis

By Material Type

“Lead is expected to hold the largest market share throughout the forecast period”.

The market is segmented into iron, manganese, nickel, lithium, cobalt, lead, electrolytes, plastics, and others. Lead is projected to account for the largest share of the market during the forecast period owing to its ease of production without causing any reduction in quality.

These are mainly extracted from car batteries, industrial forklift batteries, UPS batteries, and commercial batteries. Europe and Asia-Pacific are registered as the leading regions in lead recycling. Further, Iron was the second-most recycled material in 2019, which is mainly extracted from nickel-cadmium batteries.

On the other hand, lithium accounted for a comparatively low share of the battery materials recycling market during the forecast period owing to the low weight composition of lithium in Li-ion batteries.

By End-User Type

“Consumer goods and electronics are projected to capture a substantial share of the market throughout the forecast period”.

The market is segmented as automotive, consumer goods and electronics, building & construction, aerospace & defense, packaging, textile industry, and others. Consumer Goods and Electronics are anticipated to account for a significant share of the market during the forecast period.

Further, lead being the most recycled material in the process of battery recycling as it is reused in providing backup power in electronic equipment and automobiles for producing new batteries with high energy efficiency and reliability features is expected to fuel the segment’s growth over the forecast period.

Regional Analysis

“Asia-Pacific is anticipated to hold the largest market share during the forecast period”.

The market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is estimated to account for the largest market share, with China and India being the growth engines of the regional market during the forecast period.

Factors such as China holding the first position with growing battery production and India holding the second position with ramping battery production to meet the demand for elevating domestic motor vehicle production in the regional market are expected to accelerate the market growth over the forecast period. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.

Key Players

The following are the key players in the Battery Material Recycling Market (arranged alphabetically)

• Battery Solutions LLC
• Call2Recycle, Inc.
• ECOBAT Battery Technologies
• East Penn Manufacturing Company Inc.
• EnerSys
• Exide Industries Limited
• G&P Batteries
• Johnson Controls International plc
• Retriev Technologies Inc.
• Umicore N.V.

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

Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Research Methodology

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 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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