We use cookies for a better user experience. Read our Privacy Policy

I Agree

Battery Recycling Market to Reach Valuation of US$ 12.1 Bn by 2031: Transparency Market Research

Chemicals And Materials |

Battery Recycling Market: Introduction

The global battery recycling market was valued at US$ 4.2 Bn in 2020 and is anticipated to expand at a CAGR of 10% during the forecast period. Based on battery chemistry, the lead-acid segment held the dominant share of the global battery recycling market in 2020. Secondary lead obtained from recycling is of high quality and low cost.

In terms of spent battery source, the automotive segment accounted for major share of the global battery recycling market in 2020. Increase in demand for automobiles, especially electric vehicles, across the globe is anticipated to boost the automotive segment of the battery recycling market during the forecast period.

Based on end-use, the extraction of materials segment constituted major share of the global battery recycling market in 2020. This can be ascribed to benefits of extraction of materials from used batteries, as extracted materials can once again be used as raw materials for various products (including batteries).

The battery recycling market in Asia Pacific is likely to expand at a rapid pace during the forecast period, owing to high investments in the automobile sector in countries such as China and India.

Battery Recycling Market: Dynamics

Lead acid batteries are one of the most prominent battery types to be recycled. The extracted lead from the recycling procedure can be reused as a raw material in the production process of batteries. Furthermore, secondary lead production is a major source of lead metal production across the globe. In addition, it helps in protecting the environment from the harm caused due to the hazardous nature of lead. Thus, demand for secondary lead has been rising, thus contributing to the growth of the battery recycling market.

Many players in the battery recycling market are also striving to expand their recycling capacities. For instance, Attero, an e-waste recycling firm, has invested significantly in expanding its present lithium-ion battery recycling capacity by 11 times. Such developments bring extensive growth prospects for the battery recycling market.

Battery Recycling Market: Prominent Regions

Asia Pacific dominated the global battery recycling market in 2020. The dominance of Asia Pacific can be ascribed to the increase in demand for motor vehicles in the region, owing to the rise in the per capita income. Approximately 11 million passenger light commercial vehicles were sold in Asia Pacific in 2020.

China accounted for a leading share of the battery recycling market in Asia Pacific in 2020. This was primarily ascribed to the introduction of stringent regulations for setting up recycling facilities for batteries of electric cars. In 2020, the Chinese Ministry issued provisional regulations mandating manufacturers of electric vehicles to set up a network for the collection and recycling of used batteries.

In terms of market share, Europe follows Asia Pacific in the global battery recycling market. Enactment of stringent government regulations to minimize environmental impact is a key factor boosting the battery recycling market in the region. Furthermore, rise in awareness about the benefits associated with battery recycling is expected to propel the battery recycling market in Europe.

Battery Recycling Market: Key Players

The global battery recycling market is dominated by several mid & large size players operating across the globe. Prominent players functioning in the global battery recycling market are Johnson Controls International PLC, Battery Solutions LLC, East Penn Manufacturing Company, G&P Batteries, Retriev Technologies Inc., EnerSys, Umicore N.V., Exide Technologies, LI-CYCLE CORP., American Manganese Inc., Kinsbursky Bros. Supply, Inc., Call2Recycle, Inc., Gravita India Ltd., and uRecycle.

Global Battery Recycling Market: Segmentation

Battery Recycling Market, by Battery Chemistry

  • Lithium-ion
  • Lead-acid
  • Nickel-cadmium
  • Others

Battery Recycling Market, by Spent Battery Source

  • Automotive
  • Electronic Appliances
  • Others

Battery Recycling Market, by End-use

  • Extraction of Materials
  • Disposal
  • Repackaging, Reuse, and Second Life

Battery Recycling Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

About Chemicals & Materials Industry at Transparency Market Research

In-depth insights and expert analysis of the chemicals & materials sector provided by our reports is well grounded. Experts dive deep into product innovations and novel applications, along with changing consumer preferences in the progressing chemicals & materials industry. A detailed discussion on environmental implications of the chemicals & materials sector and how development of bio-based and renewable chemicals are setting new trends substantiate us to be the choice of established and new vendors.

Our league of pundits can take your business to the next level. Connect to know more

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact

90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com/

Copyright © Transparency Market Research, Inc. All Rights reserved