Market overview
In the year 2020 the global battery recycling market was valued at $11.1 billion and was expected to reach $66.6 billion by 2030 at a CAGR of 19.5% from 2021 to 2030. Battery recycling is referred as the collection of lithium-ion batteries through various sources consisting of automotive, industrial, consumer and electronic appliances and recovery of metals through recycling processes. The global market estimation includes revenue that is reported by selling these recovered metals or elements, whether that goes for battery recycling or other application usages. The global pandemic covid-19 had a negative impact on the battery recycling market. This allotted a temporary ban on the import and export and transportation activities; therefore, it disrupted the supply chain and battery demand from automotive and consumer electronics manufacturers. The global battery recycling market covers in-depth information of the major industry participants. Some of the key players in the market are LI-CYCLE CORP., Accurec Recycling GmbH, Battery Solutions, Redwood Materials, Inc., Glencore International, Retriev Technologies, Umicore, Enersys, AkkuSer Oy, and Duesenfeld GmbH. Other key players in the value chain of the market include Neometals Ltd., Primobius, Green Li-ion Pvt., Ltd., SungEel MCC Americas, Redux GmbH, and others.
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Market segments
The battery recycling market is segmented into following components:-
By Chemistry
· Lead-Acid Based Battery
· Lithium-Ion Based Battery
· Nickel-Based Battery
· Other Battery Types
By Source
· Automotive Batteries
· Industrial Batteries
· Consumer & Electronic Appliance Batteries
By Application
· Transportation
· Consumer Electronics
· Industrial
· Others
Regional analysis
The Asia Pacific region will be seen as the leading market during the estimated period with the highest predicted CAGR. The rise in the demand for electric vehicles and increasing environmental regulations will be the main cause for the growth of the Asia Pacific market. This market will be driven by China, South Korea, Japan, and India.
Europe is a nation that always dominates the global market, and its majority demand comes from countries like the United Kingdom, Germany, and Russia.
Across Europe, the market leader position for the lead-acid battery has been kept by Germany. Besides domestic consumption, Germany has always remained as a regional hotspot for lead-acid batteries all over the world.
In an environment-friendly region like Europe, the demand for battery cells is expected to exceed 300 GWh by 2026. The growth was caused by the development in the electrification of transportation solutions payable to the European cars. This situation will provide a massive boost to the market in Europe during the estimated period.
Key Players
Call2Recycle, Inc. (US), Battery Solutions, LLC (US), Exide Technologies (US), Umicore (Belgium), Exide Industries Ltd. (India), Contemporary Amperex Technology Co. Ltd. (CATL) (China), GEM Co., Ltd. (China), EnerSys (US), Johnson Controls International plc (US), Aqua Metals, Inc. (US), Retriev Technologies Inc. (US), Gravita India Limited (India), ECOBAT Logistics (UK), Fortum Oyj (Finland), Teck Resources Limited (Canada), American Manganese Inc. (Canada), Glencore International AG (Switzerland), TES-AMM Singapore Pte Ltd (Singapore), RSR Corporation (US), COM2 Recycling Solutions (US), East Penn Manufacturing Company, Inc. (US), The Doe Run Company (US), Raw Materials Company Inc. (RMC) (Canada), Neometals Ltd (Australia), Terrapure Environmental (Canada), Gopher Resource LLC (US).
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Industry news
The growing focus on lithium-ion battery recycling & increasing government norms for battery disposal and recycling is putting a positive impact and is estimated to grow between 2021-2028.
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