World’s Top 40 Companies in Battery Recycling 2025 Watchlist: Statistical Report (2024–2035)
RELEASE DATE: Aug 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Battery Recycling Market Size is projected to Grow from USD 17.28 Billion in 2024 to USD 46.87 Billion by 2035, at a CAGR of 9.5% during the forecast period 2025–2035. The battery recycling market is expanding with increasing demand for electric vehicles, availability of resources, environmental issues, and regulatory policies driving sustainable activities and safe disposal of toxic materials from batteries.
Introduction
The battery recycling market refers to the collection and processing of used batteries to obtain recoverable materials while reducing environmental impact. It covers different types of batteries such as lithium-ion, lead-acid, and nickel-metal hydride (NiMH) which are widely utilized in electronics, electric vehicles (EVs) and energy storage systems. Recycling batteries offers several advantages, such as minimizing waste, conserving natural resources, and preventing pollution from harmful chemicals and heavy metals. The major drivers of market expansion are the increasing need for batteries in renewable energy storage, electric vehicles, and portable electronics. As the use of EVs and electronics grows, so does the demand for effective recycling methods. Additionally, the depletion of raw materials such as lithium, cobalt, and nickel makes recycling critical to the sustainability of the supply chain. Strengths in the market include recovering valuable metals, enabling a circular economy, and solving environmental issues. Opportunities in the market include advanced recycling technology, particularly for lithium-ion batteries. Government programs, including subsidies, awareness programs, and stringent regulations, also contribute toward strengthening the market and promoting growth.
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Battery Recycling Market Size & Statistics
- The Market Size for Battery Recycling Was Estimated to be worth USD 17.28 Billion in 2024.
- The Market Size is Going to Expand at a CAGR of 9.5% between 2025 and 2035.
- The Global Battery Recycling Market Size is anticipated to reach USD 46.87 Billion by 2035.
- Asia Pacific is expected to generate the largest demand during the forecast period in the Battery Recycling Market
- North America is expected to grow the fastest during the forecast period in the Battery Recycling Market.
Regional growth and demand
North America is expected to grow the fastest during the forecast period in the battery recycling market. North America is the most rapidly growing region across the battery recycling market, fueled by rising electric vehicle sales, robust recycling standards, and a high focus on sustainability. The U.S. is heavily investing in recycling facilities to cut down on imported material dependence and foster a circular economy.
Asia Pacific is expected to generate the largest demand during the forecast period in the battery recycling market. The Asia-Pacific dominated market in the battery recycling market due to strong battery demand in China, Japan, and South Korea. These countries are leaders in electronics production, electric vehicle usage, and technological innovation, resulting in tremendous growth in battery recycling to attain sustainability targets.
Top 10 trends in the Battery Recycling Market
- Growth of renewable energy storage
- Increase in electric vehicle (EV) adoption
- Expansion of recycling infrastructure
- High demand for lithium and cobalt
- Recycling of small-format batteries
- Stricter government regulations
- Investment in research & development
- Rise of battery management systems (BMS)
- Circular economy and sustainability focus
- Increase in cross-industry partnerships
1. Growth of renewable energy storage
The growth of renewable energy storage is fueling the need for effective battery recycling, particularly for large systems such as solar and wind power storage. With the advancement of these technologies, there is an increasing need to recycle batteries, particularly lithium-ion, to create a sustainable lifecycle, minimize the scarcity of materials, and aid in clean energy alternatives.
2. Increase in electric vehicle (EV) adoption
The increasing demand for electric vehicle (EV) adoption is essentially driving the battery recycling industry. EVs utilize lithium-ion batteries, demanding effective recycling to recover valuable materials such as lithium, cobalt, and nickel, maintain a sustainable supply chain, and reduce environmental footprint.
3. Expansion of recycling infrastructure
The development of recycling facilities is vital in managing the increasing number of used batteries, particularly from electric vehicles and electronics. Improved facilities increase the rate of recovery, minimize wastage, and provide sustainable disposal, promoting the circular economy and improving the international demand for recycled materials such as lithium and cobalt.
4. High demand for lithium and cobalt
High demand for cobalt and lithium, which are required for battery manufacturing, is propelling the market for battery recycling. Recycling these crucial metals reduces dependence on mining, provides a secure supply, mitigates environmental degradation, and promotes environmentally friendly production of batteries for electric vehicles and energy storage systems.
5. Recycling of small-format batteries
Small-format battery recycling, which includes batteries typically used in smartphones, laptops, and wearables, is increasingly significant. Specialized recycling methods are being developed to handle their complex chemistries, allowing for safe recovery of precious materials, minimizing waste, and sustaining consumer electronics practices.
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Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the battery recycling market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 20 Companies Leading the Battery Recycling Market
- Umicore
- Exide Technologies
- Redwood Materials
- Li-Cycle
- ECOBAT Logistics
- Fortum
- Veolia
- Envirostream
- Johnson Controls
- Gravita India Ltd.
- Neometals Ltd.
- ACE Green Recycling
- Ganfeng Lithium
- Sims Recycling Solutions
- Glencore
- Nexeon
- East Penn Manufacturing
- RSC Chemical Solutions
- Retriev Technologies Inc.
- American Battery Technology Company (ABTC)
1. Umicore
Headquarters: Brussels, Belgium
Umicore is a world leader in battery recycling, particularly for lithium-ion and nickel metal hydride (NiMH) batteries. Umicore recovers valuable metals such as cobalt, lithium, and nickel from demise batteries by utilizing refined pyrometallurgical and hydrometallurgical techniques. The recovered products are recycled support into the supply chain for battery production, enabling a circular economy. Umicore plays an important role in counteracting the scarcity of resources and environmental pressure by lessening the demand for virgin mining. The technical capabilities and massive recycling capacity of the company position it as an essential contributor to the sustainable battery materials business.
2. Exide Technologies
Headquarters: Milton, Georgia, United States
Exide is a global leader in secondary recycling and closed loop battery recycling. It recycles up to 99 percent of lead from used batteries, as well as plastics and sulfuric acid, minimizing landfill waste and promoting a circular economy. Through these operations, Exide reuses reclaimed material in the manufacture of new batteries, reducing dependency on virgin materials and promoting environmental sustainability in all its businesses globally.
3. Redwood Materials
Headquarters: Carson City, Nevada, USA
Redwood Materials is a pioneer in lithium-ion battery recycling and developing a circular domestic supply chain. Redwood uses sophisticated hydrometallurgical techniques to recover more than 95 percent of key materials, including lithium, cobalt, nickel, and copper, from demise batteries and production scrap. The recovered materials are purified into refined products, such as anode copper foil and cathode active materials, for reuse in US battery manufacturing. Redwood also innovates metaverse uses of its unit, Redwood Energy, which reuses batteries with capacity in modular energy storage systems or microgrids.
3. Li-Cycle
Headquarters: Toronto, Ontario, Canada
Li-Cycle is a specialized lithium-ion battery recycler utilizing its innovative Spoke & Hub Technologies. Its Spoke facilities preprocess the batteries, securely shredding and turning them into plastics, copper or aluminum, and precious black mass comprising lithium, nickel, and cobalt. The black mass is then refined in centralized Hub facilities through a hydrometallurgical (wet chemistry) process, with up to 95 percent material recovery, without intense heat smelting, and only low emissions and minimal waste.
4. ECOBAT Logistics
Headquarters: Texas, USA
ECOBAT Logistics is a specialty demise battery collection provider serving two continents, facilitating control loop management for lead-acid and lithium battery chemistries. Operated through a collection truck fleet, 11 smelters, and 65,000 battery collection sites, they facilitate effective, legally compliant recycling processes. Their capabilities cover transportation, disassembly, secure storage, hazardous handling, and material recovery, recycling materials such as lead, plastics, sulfuric acid, and black mass from lithium batteries. Ecobat's sustainability mission reaches into newly commissioned German, Arizona, and English lithium-ion recycling facilities, each with the capacity to treat 10,000 tons per year and produce vital black mass for refined material.
Are you ready to discover more about the battery recycling market?
The report provides an in-depth analysis of the leading companies operating in the global battery recycling market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Umicore
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Exide Technologies
- Redwood Materials
- Li-Cycle
- ECOBAT Logistics
- Fortum
- Veolia
- Envirostream
- Johnson Controls
- Others.
Conclusion
The battery recycling market is aimed at recovering valuable materials such as lithium, cobalt, and lead from spent batteries to minimize environmental damage and resource depletion. Prompted by the growth in EVs, renewable energy storage, and raw material shortages, it drives the circular economy. The industry leaders, such as Umicore, Redwood Materials, Exide, Li-Cycle, and ECOBAT Logistics, use modern recycling technologies such as hydrometallurgy to ensure high recovery rates. Government policies, green goals, and increasing infrastructure increase involvement, accelerating market growth and environmental stewardship.
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