Battery Recycling Market

Global Battery Recycling Market is valued at USD 17.6 Billion in 2020 and is expected to reach USD 27.89 Billion by 2027 with a CAGR of 6.8% over the forecast period. 

Global Battery Recycling Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2021-2028- Increasing adoption of electric vehicles, rising demand for recycled products, and growing environmental awareness are some of the major factors driving the growth of the Global Battery Recycling Market. 

Scope of Global Battery Recycling Market Report- 

Battery recycling is an effective way to recycle and reuse batteries to reduce hazardous waste. Battery recycling is a reusing movement that aims to decrease the number of batteries being disposed of as municipal solid waste. Batteries contain various heavy metals and harmful chemicals and discarding them by a similar process as normal household waste has risen worries over soil contamination and water contamination. Recycling has less of an environmental impact than mining virgin materials. Direct recycling can reduce energy consumption and emissions. Numerous urban communities offer battery recycling services for lead-acid batteries. In certain locales, including U.S. and Canadian regions, a refundable deposit is paid on batteries. This encourages the reusing of old batteries rather than the abandonment or disposal of household waste. Organizations that sell new vehicle batteries may likewise gather used batteries for recycling. 

The Covid-19 pandemic has shown a negative impact on the growth of the global battery recycling market. The outbreak of the Covid-19 led to a temporary ban on import, export, manufacturing & processing activities in various industries which reduced the demand for various automotive & non-automotive batteries. Due to pandemics, problems such as labor shortages, unavailability of raw materials, instability in world trade, and subsequent market ecosystem delays in product establishment have proved to be significant barriers to industry adaptation. Delayed projects push up prices which further hinders the market growth.

Global Battery Recycling Market Segmentation:- 

The global battery recycling market is segmented on the basis of the chemistry, battery source, end-user, and region & country level. On the basis of chemistry, the global battery recycling market is segmented into lead-acid, lithium-ion, nickel-cadmium, and others. By battery source, the global market is segmented into electronic appliances, automotive, and others. By end-user, the market is segmented into the extraction of materials, repackaging, disposal, reuse, and second life. 

By Chemistry: 

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

By Battery Source: 

• Electronic Appliances
• Automotive 
• Others 

By End-Use: 

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

Battery Recycling Companies

Some major key players for the global battery recycling market report cover prominent players like

• Exide Technologies
• Umicore
• Exide Industries Ltd.
• Contemporary Amperex Technology Co. Ltd.
• GEM Co., Ltd.
• EnerSys
• Aqua Metals, Inc.
• Retriev Technologies Inc.
• Battery Solutions, LLC
• Call2Recycle, Inc.
• Johnson Controls International plc
• Others.

Recent Developments

News- Mercedes-Benz to Build its Own Battery Recycling Plant in Southern Germany 

On March 11th, 2022; Mercedes-Benz started to fabricate its own battery recycling plant in Germany. Along with technology partner Primobius and an eminent research institute, the pilot project is planned to begin in 2023. Mercedes-Benz is investing a double-digit million euro sum in research and development, as well as in the development of the CO2- neutral pilot plant at the Mercedes-Benz area in Kuppenheim in southern Germany. The pilot plant is supposed to have a yearly limit of 2,500 tons. The recovered materials will be fed back into the recycling circle to create in excess of 50,000 battery modules for new Mercedes-EQ models. 

Ford, Volvo Join Redwood Materials Has Launched the Free EV Battery Recycling Program in California 

On February 17th, 2022; the startup, founded by Redwood Materials, former Tesla CTO JB Strobel, launched an EV battery recycling program in California with opening partners Ford& Volvo as pressure mounts on source material for the electric vehicle. 

Hydrovolt Launched Europe’s Largest EV Battery Recycling Plant 

On May 18th, 2021; Hydrovolt launched Europe's biggest EV battery recycling plant. Hydrovolt's plant is at present Europe's biggest electric vehicle battery recycling plant with a yearly limit of 12,000 tons of battery packs, which is what could be compared to 25,000 electric vehicle batteries. It's supposed to be adequate to recycle the entirety of the Norwegian finish-of-life battery market. 

Increasing Adoption of Electric Vehicles, Rising Demand for Recycled Products, and Growing Environment Awareness are Some of the Major Factors Driving the Market Growth  

One of the major factors driving the growth of the battery recycling market is the increasing adoption of electric vehicles. Electric vehicles (EVs) are automobiles that run totally or partially on electricity. Disposing of electric vehicle batteries is expensive, especially if the waste contains valuable materials. Recycling is an opportunity to reduce life cycle costs by retrieving high-value materials and avoiding hazardous waste disposal costs. Recycling EV batteries also helps in the recovery of metals cobalt, lithium, nickel, and others, which can be used to make new batteries, save resources and increase production costs. For instance; according to International Energy Agency (IEA); in 2021, sales of electric vehicles (EVs) doubled from the earlier year to another record of 6.6 million. Almost 10% of worldwide vehicle deals were electric in 2021. This brought the all-out number of electric vehicles on the world's streets to around 16.5 million, triple the sum in 2018.

In addition, the rising demand for recycled products is also boosting the growth of the battery recycling market. Battery recycling is an effective way to recycle and reuse batteries to reduce hazardous waste. Recycling has less of an environmental impact than mining virgin materials. The recycling of used electric batteries has enormous potential and offers strong economic benefits. Similarly, recycling batteries can prevent the potential danger of heavy metals and toxic chemicals being released into the atmosphere. For instance; according to Roland Berger, by 2030, 1.7 million tons of batteries will be recycled, an estimated 250 thousand tons of active substances such as nickel, cobalt, manganese, and lithium. Therefore, increasing demand for recycled products is expected to fuel the market growth over the forecast period.

Moreover, the growing environmental awareness is also fostering the market growth. Although the production of batteries is a relatively inexpensive process compared to recycling, the overall negative environmental impact of their production is leading the government to resort to recycling projects. To facilitate market players, the government has introduced favourable rules and policies that will further increase global market share in the coming years.

However, the high cost associated with battery recycling is may hinder the growth of the global battery recycling market. In spite of that, increasing demand and production of hybrid vehicles and electric vehicles may create more opportunities for the further growth of the market. 

North America Expected to Capture a Major Share in the Global Battery Recycling Market 

Geographically, North America is expected to capture a major share in the global battery recycling market within the forecast period due to the growing demand for electric vehicles, rising demand for lithium-ion batteries, and rise in battery recycling activities in the region. Increasing growing demand for electric vehicles is driving the growth of the market. The increase in sales of electric vehicles has led to an increase in the number of lithium-ion batteries in the market. For instance; according to the international council on clean transportation; the electric vehicle market in the United States has grown from a few thousand vehicles in 2010 to 315,000 vehicles sold annually from 2018 to 2020. The growing demand for lithium-ion batteries in electric vehicles and portable devices, with their high efficiency, long life, and low maintenance, is expected to have a positive impact on the demand for recycled products. For instance; as per the news published on January 20th, 2019; DOE launched a li-ion battery recycling prize & related R&D center.

The Asia Pacific the fastest-growing region in the global battery recycling market due to the increasing adoption of lithium-ion batteries, and the presence of key players in this region. For instance; as per the news published; on September 6th, 2019; Tata Chemicals launched a Li-ion battery recycling plant for commercial recovery of cathode activity material from spent batteries.

Report Analysis	Details
Historical data	2018 - 20201
Forecast Period	2022 - 2028
Market Size in 2021:	USD 17.6 Billion
Base year considered	2021
Forecast Period CAGR %:	6.8%
Market Size Expected in 2028:	USD 27.89 Billion
Tables, Charts & Figures:	175
Pages	200
Battery Recycling Companies	Exide Technologies, Umicore, Exide Industries Ltd., Contemporary Amperex Technology Co. Ltd., GEM Co., Ltd., EnerSys, Aqua Metals, Inc., Retriev Technologies Inc., Battery Solutions, LLC, Call2Recycle, Inc., Johnson Controls International plc, and others.
Segments Covered	By Chemistry, By Battery Source, By End-Use
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits of Global Battery Recycling Market Report– 

• Global Battery Recycling Market report covers in-depth historical and forecasts analysis 
• Global Battery Recycling Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country levels. 
• Global Battery Recycling Market report helps to identify opportunities in the marketplace.
• Global Battery Recycling Market report covers extensive analysis of emerging trends and the competitive landscape.