According to the latest report by IMARC Group, titled “Battery Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global during 2015-2020. Battery recycling is the process of recycling and reusing batteries to reduce the material waste generated from the industries. Batteries contain heavy metals and toxic chemicals that can contaminate soil and water upon inappropriate dumping. Some of the most common recycled battery types include nickel-cadmium (Ni-Cd), lead-acid, nickel-metal hydride (Ni-MH), lithium-ion (Li-ion) and nickel-zinc (Ni-Zn). The recycling process involves collecting, sorting, crushing and sieving metals from plastic, followed by hydro-metallurgical and pyro-metallurgical processes to neutralize and reuse the acid to produce new batteries.
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Market Trends:
The escalating demand for hybrid and electric vehicles (EVs) across the world is primarily driving the market for battery recycling. This has significantly augmented the demand for several compounds, such as cobalt and lithium, which are used in the ignition system of automobiles. Additionally, the limited availability of raw materials to manufacture lithium-ion batteries has further promoted the recycling of discarded batteries. Moreover, the implementation of stringent government regulations to reduce environmental hazards associated with the disposal of batteries is also providing a boost to the market. Besides this, the increasing utilization of recycled batteries in the manufacturing of various consumer electronics, such as smartphones, laptops, power tools, remote controls, etc., is projected to further drive the market growth in the coming years. Looking forward, IMARC Group expects the global battery recycling market to grow at a CAGR of 6.4% during 2021-2026.
Market Analysis and Segmentation:
Breakup by Type:
- Lead-acid Batteries
- Nickel-based Batteries
- Lithium-based Batteries
- Others
Breakup by Source:
- Industrial
- Automotive
- Consumer Products
- Electronic Appliances
- Others
Breakup by End-Use:
- Reuse
- Repackaging
- Extraction
- Others
Breakup by Material:
- Manganese
- Iron
- Lithium
- Nickel
- Cobalt
- Lead
- Aluminium
- Others
Competitive Landscape with key players:
- Accurec Recycling GmbH
- Aqua Metals
- Battery Solutions
- Call2recycle Inc.
- Eco-Bat Technologies
- Enersys
- Exide Technologies
- & P. Batteries Limited
- Gravita India Limited
- Johnson Controls
- Retriev Technologies Inc.
- Umicore
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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