Global Battery Recycling Market Size, Share, and COVID-19 Impact Analysis, By Battery Type (Lead Acid Battery, Nickel Cadmium Battery, Nickel Metal Hydride Battery, Lithium-Ion Battery, Other Battery Types), By Battery Recycling (Extraction of Materials, Reuse, Repackaging & Second Life, Disposal, Others), By Application (Industrial, Consumer & Electronic Appliance, Automotive & Transportation, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030Industry: Energy & Power
Global Battery Recycling Market Insights Forecasts to 2030
- The Global Battery Recycling Market Size was valued at USD 13.09 Billion in 2021
- The Worldwide Market is Growing at a CAGR of 9.74% from 2022 to 2030
- The Worldwide Battery Recycling Market is expected to reach USD 41.08 Billion by 2030
- Europe is expected to Grow the fastest during the forecast period
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The Global Battery Recycling Market is expected to reach USD 41.08 Billion by 2030, at a CAGR of 9.74% during the forecast period 2022 to 2030.
The goal of battery recycling is to reduce the volume of batteries discarded as municipal solid waste. Batteries contain several environmental contaminants and heavy metals, thus discarding of them in the same manner as other home waste has sparked worries about contamination of the environment and water. Batteries must be recycled because of waste management requirements and environmental concerns. As the public's knowledge of environmental issues grows, more emphasis is being placed on sustainable resource management. All sorts of batteries, whether lead acid or lithium-ion, are surely subject to the public's growing concern about the potentially dangerous properties of metals and other compounds.
Lithium-ion batteries typically contain valuable metals such as high-grade copper and aluminum, as well as cobalt, nickel, and rare earths. Recycling procedures for lithium batteries are required to avert future shortages of cobalt, nickel, and lithium and to enable a sustainable life cycle of these technologies. Despite their low energy content, one of the advantages of lead-acid batteries is their recycling potential. Around 90% of a lead-acid battery can be recycled and repurposed to make new batteries. Consumers who purchase lead-acid batteries may be asked to pay a core fee to help pay for recycling; however, small-format lithium-ion batteries do not have a core price. For instance, the EPA claimed on its website in October 2020, without providing a source of the number, that "In 2018, the projected amount of recycled battery lead was around 99 percent," hinting that industry sources were probably involved.
This research report categorizes the market for Global Battery Recycling Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Battery Recycling Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Global Battery Recycling Market.
Global Battery Recycling Market Report Coverage
|Market Size in 2021:||USD 13.09 Billion|
|Forecast Period 2021-2030 CAGR:||9.74%|
|2030 Value Projection:||USD 41.08 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||100|
|Segments covered:||By Battery Type, By Battery Recycling, By Application, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Raw Materials Company Inc., Retriev Technologies Inc., American Manganese Inc., Contemporary Amperex Technology Co., ACCUREC-Recycling GmbH, Glencore, Call2Recycle, Inc., Envirostream Australia Pty Ltd, Neometals Ltd., Exide Technologies, Battery Solutions, LLC, Li-Cycle Corp., ECOBAT Logistics, Johnson Controls International plc, EnerSys, Fortum Oyj, Aqua Metals, Inc.,Cirba Solutions, Gravita India Ltd., TES-AMM Singapore Pte Ltd, Umicore, Duesenfeld, OnTo Technology LLC, East Penn Manufacturing Company|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Electric vehicle demand is expected to expand as infrastructure and technology improve in Europe and North America's industrialized economies. Aesthetic battery design, battery installation accessibility, and the supply of protective layers to decrease the risk of fire and short circuiting are expected to pave the way for new growth prospects in the global market.
The global market for recycling batteries is expected to grow due to reasons such as strict government regulations, environmental safety, and public awareness. Furthermore, owing to growing populations, demand for primary materials such as lead and lithium is predicted to increase in the years to come. Recycling used materials is essential for preserving natural resources and reducing our environmental impact. Lead acid batteries are one of the most recycled products in the world, accounting for more than 85% of global lead usage and having a high recycling rate all over the world.
In recent years, there has been a tremendous increase in demand for electronic equipment. Rechargeable batteries used in portable electronics typically have a lifespan of two to five years, depending on their size and type of battery. Numerous mobile phone manufacturers have begun to recycle batteries. As a result, the increased demand for portable electronic devices is expected to generate enormous potential for the battery recycling market over the forecasting period.
Nevertheless, inadequate segregation of hazardous compounds used in batteries, improper dismantling, and inappropriate disintegration are likely to restrain the growth of the battery recycling market during the period of forecasting. Transporting used or abandoned vehicle batteries by train, plane, or truck, on the other hand, is dangerous due to the existence of flammable, explosive, corrosive, or radioactive materials that could cause severe accidents and environmental damage. These limitations are expected to limit the scope of the automotive battery recycling market in the coming years.
- In 2021, the lithium-ion battery segment is witnessing significant CAGR growth over the forecast period
On the basis of battery type, the Global Battery Recycling Market is segmented into lead acid battery, nickel cadmium battery, nickel metal hydride battery, lithium-ion battery, and other battery types. Among these, the lithium-ion battery is expected to increase at a significant CAGR during the forecast period. The rising usage of lithium-based batteries in applications such as electronic appliances, transportation, and others is one of the key factors impacting this segment's growth. As the adoption of appliances powered by lithium-ion batteries grows, the amount of obsolete lithium-ion batteries that previously powered gadgets is expected to explode. A lithium-ion battery cell's components can currently be recovered in levels ranging from 25% to 96%.
- In 2021, the extraction of materials segment is dominating the market over the forecast period
On the basis of battery recycling, the Global Battery Recycling Market is segmented into extraction of materials, reuse, repackaging & second Life, disposal, and others. Among these, the extraction of materials segment is expected to rise at a substantial CAGR over the forecast period as a result of increased attempts by government and non-government organizations to develop power from renewable sources facilities. The increased use of battery-powered electric vehicles as an alternative to conventional fuel-powered vehicles is a primary factor driving this segment's growth. Rising knowledge about environmental pollution has also increased demand for the extraction of primary materials used to create batteries, such as lithium, zinc, lithium cobalt oxide, manganese, and others, resulting in an increase in demand for battery-powered electric vehicles.
- In 2021, the automotive & transportation segment is dominating the market with the largest market share of 58% over the forecast period
Based on the vehicle type, the Global Battery Recycling Market is segmented into industrial, consumer & electronic appliance, automotive & transportation, and others. Among these, the automotive & transportation segment is dominating the market with the largest market share of 58% over the forecast period owing to the recent advancements in technological functionalities of the automotive industry. The development of novel features in automotive, such as décor, cutting-edge gadgets, vehicle infotainment, Internet of Things (IoT), advanced driver assistance, and Artificial Intelligence (AI)-based amenities, including detectors as well as a variety of automated features and functionality, has led to an increasing market for high-end power sources and batteries with high energy density that can handle excessive heat and last longer.
Regional Segment Analysis of the Battery Recycling Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific is dominating the market with the largest market share of 44%.
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Asia Pacific, with a 44% market share, is expected to remain the industry's leading region during the projection period. The increasing number of government policy measures implemented by industrialised nations in this region to introduce electric vehicles is a crucial element driving the battery recycling market growth. Furthermore, the growing popularity of electric vehicles creates a sizable market opportunity for the manufacture of various types of rechargeable batteries and battery management technologies which regulate voltage, exposing the battery recycling business to a wide number of potential investors. Also, a growing population of environmentally concerned people is driving increasing demand for electric vehicles in this region.
Europe is expected to grow the fastest during the forecast period owing to the burgeoning start-ups in the battery recycling industry. Several gigafactories for battery recycling have recently been developed in the region by European corporations. Furthermore, increased demand for electric vehicles in this region has generated a substantial potential for market participants to invest in high-tech batteries with excellent lifespan and efficiency.
The report offers the appropriate analysis of the key organizations/companies involved within the Global Battery Recycling Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players
- Raw Materials Company Inc.
- Retriev Technologies Inc.
- American Manganese Inc.
- Contemporary Amperex Technology Co.
- ACCUREC-Recycling GmbH
- Call2Recycle, Inc.
- Envirostream Australia Pty Ltd
- Neometals Ltd.
- Exide Technologies
- Battery Solutions, LLC
- Li-Cycle Corp.
- ECOBAT Logistics
- Johnson Controls International plc
- Fortum Oyj
- Aqua Metals, Inc.
- Cirba Solutions
- Gravita India Ltd.
- TES-AMM Singapore Pte Ltd
- OnTo Technology LLC
- East Penn Manufacturing Company
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In December 2022, Umicore and Nano One® Materials Corp. have signed a Joint Development Agreement on cathode active materials (CAM) production process innovations for lithium-ion batteries. Umicore will examine Nano One's patented M2CAM® One-Pot process technology with the purpose of integrating it with Umicore's own process technology for the production of high nickel NMC (nickel, manganese, cobalt) CAM under the terms of the agreement. This initiative aims to use their respective technology and know-how to boost throughput rate while lowering CAM production costs and environmental footprint.
- In August 2021, Johnson Matthey and OnTo Technologies, a provider of sophisticated battery recycling solutions, have agreed to scale up OnTo's proprietary technology for the direct recycling of lithiumion battery trash. The companies will work with the UK Battery Industrialisation Centre (UKBIC), a recently completed national scale-up facility for battery manufacturing in Coventry.
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the Global Battery Recycling Market based on the below-mentioned segments:
Global Battery Recycling Market, By Battery Type
- Lead Acid Battery
- Nickel Cadmium Battery
- Nickel Metal Hydride Battery
- Lithium-Ion Battery
- Other Battery
Global Battery Recycling Market, By Battery Recycling
- Extraction of Materials
- Repackaging & Second Life
Global Battery Recycling Market, By Application
- Consumer & Electronic Appliance
- Automotive & Transportation
Global Battery Recycling Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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