Battery Materials Recycling Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMEP1084 | Last Updated On: Jun 23 2022 | Available Formats

> Global Battery Materials Recycling Market Expected to reach a high CAGR of 17.8% By 2029: DataM Intelligence

Global Battery Materials Recycling Market is segmented By Material (Lead, Nickel, Lithium, Cobalt, Manganese, Others (iron), By End User (Automotive Industry, Building, construction industry, Aerospace industry, Consumer electronics, Others (industrial), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022-2029

Battery Materials Recycling Market Outlook

The Battery Materials Recycling Market is expected to grow at a high CAGR of 18% during the forecasting period (2022-2029). Battery recycling is the process of recycling used batteries from various sources, preventing them from going into municipal wastes and landfills for disposal. Batteries consist of several heavy metals and toxic chemicals. Therefore, disposing of them as regular trash has raised concerns about water pollution and soil contamination.

In 2020, in terms of revenue, the Europe Battery Materials Recycling Market produced the highest growth rate in the global market, and it is expected to remain under its control over the forecast period 2022-2029. The aspects such as the occurrence of a heavy consumer base and the presence of major companies in the Europe region lead to the controlling the global market. Furthermore, the speedy growth of the electric vehicle sector in the Europe region, and rules and regulations on environmental pollution are projected to produce the growth of the Europe Battery Materials Recycling Market.

Factors such as the safety of the environment, strict rules and regulations from the government, and consciousness among the people are projected to push the battery recycling market growth. Though, a few major factors hampering the global battery recycling market are inappropriate dismantling, harmful materials used in batteries in inappropriate ways, and inappropriate shredding are projected to hinder the growth of the battery recycling market throughout the forecast period

Battery Materials Recycling Market Dynamics

The growth of the global automotive market, demand for batteries from various end-user industries such as consumer electronics and the building and construction industry, and the rising environmental concerns are the major factors boosting the growth of the global battery materials recycling market. In the automotive sector, Lead-acid batteries are used in (starting-lighting-ignition) SLI systems of automobiles. In commercial applications, they are used as a backup power supply for high-end servers, personal computers, telephone exchanges, and in off-grid homes with inverters. In the building and construction industry, they are used with inverters as power backup. Lithium and silver oxide batteries are used in portable consumer instruments like calculators, iPods, digital diaries, wristwatches and stopwatches, toys, and artificial pacemakers.

The increasing applications of batteries in various industries coupled with the growth of the end-user industries is expected to augment the growth of the global battery recycling market in the future. However, high initial investments in designing the recycling processes and a lack of awareness of battery materials in developing countries might hamper the growth of the global Battery Materials Recycling market in the future.

Battery Materials Recycling Market Segment Analysis

Based on the end-user, the market is the segmented automotive industry, building and construction industry, aerospace industry, consumer electronics, packaging, and others (consumer goods).

The automotive industry is one of the dominant segments of the global market owing to the rising global automotive sales. Batteries are typically used in vehicles for SLI applications. However, electric cars which solely run on batteries are increasingly becoming popular owing to emission constraints which are expected to drive the market in the forecast period. According to the International Organization of motor vehicles manufacturers (OICA), 96.8 million vehicles were sold globally in 2017 compared to 93.9 million and 89.7 million in 2016 and 2015 respectively. Furthermore, according to the International Energy Agency, 2017 witnessed global record sales of 1.1 million electric cars. The sales of electric vehicles have increased by more than 50% in 2017 and China has accounted for nearly half of the sales. The global stock of electric vehicles surpassed 3 million in 2017. Thus, batteries are witnessing robust demand owing to their increasing applications, and their recycling is extremely critical to the environment and is anticipated to boost the global market for battery materials recycling in the forecast period.

Battery Materials Recycling Market Geographical Analysis

The Global Market is segmented into North America, Europe, Asia Pacific, South America, Middle East, and Africa. The Asia Pacific region is further segmented into the countries such as China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific. The Asia Pacific region is the dominant segment in the global market owing to the flourishing consumer electronics market, building and construction industries, automotive industries in countries such as China, India, and Japan, and the flourishing wind generation industries in the Asia Pacific region.

In 2020, in terms of revenue, the Europe Market record the highest growth rate in the global market, and it is anticipated to be constant under its dominance during the forecast period 2022-2029.

The growth in smartphone shipments on a regional basis has influenced the market scenario, with the rising sales volume of smartphones ensuring robust demand for batteries. Lithium-Ion batteries are the most widely preferred batteries in smartphones as they are a primary source of power for mobile phones. Smartphone shipments in China are rising at a healthy rate owing to the increasing population of China and widespread internet connectivity. Shipments increased from 385.3 million units to 448.5 million units in 2016 finally surging to 454.4 million units in 2017. The growing population in China coupled with rising disposable incomes the population is ensuring high demand rates for smartphones which are expected to augment the growth of the market.

Battery Materials Recycling Industry Competitive Analysis

New product launches, expansion of facilities, mergers, and acquisitions, and strategic partnerships are vital strategies adopted by most companies to contribute to the growth of the company and improve their market growth rate.

For instance, in May 2019, Volkswagen announced plans to build its first center for electric vehicle (EV) battery recycling at its facility in Salzgitter, Germany. The plant is expected to open next year, according to the company, and will be able to recycle 1,200 tons of EV batteries per year initially.

Moreover, in April 2019, Tesla announced plans in its new sustainability report to open a new battery recycling facility at its Gigafactory in Sparks, Nevada. The facility will recycle used batteries from early Tesla’s as well as extra batteries from the company's own manufacturing efforts.

Major Companies Controlling the Global Market:

Call 2 Recycle, Exide Technologies, Aqua Metals, EnerSys, G&P Batteries, Umicore, Johnson Controls, Gravita India Ltd, Teck Resources Ltd, ECOBAT, and other major players profiled in the final report.

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