Battery Recycling Market: Current Analysis and Forecast (2021-2027)

The global battery recycling market was stood around US$17 billion in 2020 and is expected to showcase the growth rate of more than 6% during the forecast period (2021-2027). With increasing demand of batteries, the concern among environmental bodies is growing to make batteries sustainable after its end life. Moreover, in many countries, it is illegal to dispose the batteries in the trash as batteries consist of corrosive materials and heavy metals that can contaminate the environment. Therefore, recycling of batteries is required to make battery industry value chain profitable and eco-friendly. However, currently, only a very limited number of batteries are recycled. For instance, in Australia, only 2-3% of li-ion batteries are collected and sent for recycling whereas in European union and the US, the recycling rate of li-ion batteries are below 5%. Currently, companies are mainly focusing on increasing production of batteries, increase battery longevity and charge capacity, and simultaneously reducing the cost of batteries and not in advancing the recycling process. Therefore, a great number of unrecycled batteries went through a high-temperature melting-and-extraction, or smelting, process. These processes are energy intensive and requires large capital and advance equipment’s. However, these processes are not capable of recovering all valuable materials therefore a proper recycling value chain is a need for a sustainable development.

Similar to most of the industry, COVID-19 had the negative impact on the battery recycling market. Since, recycling of batteries requires a fully efficient supply chain which had been disrupted in the light of COVID-19. Further, in order to curtail the spread of disease, government across the globe, had taken several stringent measures like lockdown which has resulted in the factory shutdown or operating with reduced number of manpower thus resulted in the low productivity. Further, collection of battery is the first step of battery recycling process, however, due to the agitation of disease, consumers are not willing to go outside, which has affected the collection of batteries as well.
Insights Presented in the Report
“Amongst chemistry, lead-acid category dominated the market in 2020.”
Based on chemistry, the market is categorized into lead-acid, lithium-based, nickel-based, and others. Among these, lead-acid battery held the dominating share in the market. The market of lead-acid battery is matured and has well-established supply chain owing to which recycling companies are mainly engage in the recycling of lead-acid battery. Further, cost-effectiveness and high recyclable rates are some of other key attributable factors for its largest market share.
“Amongst source, automotive category dominated the market in 2020.”
Based on source, the market is categorized into automotive, industrial, consumer & electronics, and others. Among these, automotive held the considerable market share in 2020 owing to large and growing demand of automobiles and shorter average life of automotive batteries. Further, increasing adoption of electric vehicle would also increase the recycle activity in the industry.
“Asia-Pacific is likely to showcase robust growth during the forecast period”
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. Asia-Pacific is likely showcase significant growth during the forecast period owing to increasing sales of consumer electronics, growing automotive sector, rising investment in the recycling activities, and growing adoption of e-mobility. Some of the major companies profiled in the report includes Call2Recycle Inc., Battery Solutions LLC, Exide Technologies, Researchercore N.V., Exide Industries Ltd., Contemporary Amperex Technology Co. Ltd., Gem Co. Ltd., Enersys, Johnson Controls International plc, and Aqua Metals Inc.
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