Battery Recycling Market by Type, Material, Recycling Process, Application

List of Tables

[186 Pages Report] The Battery Recycling Market size was estimated at USD 22.62 billion in 2023 and expected to reach USD 24.66 billion in 2024, at a CAGR 9.51% to reach USD 42.72 billion by 2030.

Battery recycling consists of collecting, processing, and recreating batteries to recover valuable materials, includinguding lead, lithium, nickel, and cobalt, while ensuring the safe disposal of non-recoverable components. Battery recycling serves a dual role in environmental stewardship by reducing pollution and material waste and resource conservation by reusing materials instead of depleting natural resources. Battery recycling applications span various industries, including automotive, industrial, and consumer electronics. The end-use of recycled batteries primarily focuses on sectors transitioning towards green energy solutions, such as the electric vehicle industry, renewable energy storage systems, and portable electronic manufacturing. Stringent waste management regulations and the constant push for sustainable practices drive the demand for battery recycling. The continuous growth of industries reliant on batteries, such as electric vehicles and consumer electronics, propels the need for battery recycling services. Technical challenges in recycling certain materials, such as lithium and cobalt, hamper the market's growth. Rising research into novel recycling methods that offer higher efficiency and material recovery is expected to create opportunities for market growth. Additionally, developing a closed-loop supply chain in battery manufacturing presents opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 22.62 billion
Estimated Year [2024]	USD 24.66 billion
Forecast Year [2030]	USD 42.72 billion
CAGR (%)	9.51%

Type: Growing investments for lithium-based battery recycling

Lead-acid batteries are ubiquitous in automobiles for starting, lighting, and ignition (SLI) applications. Due to their high reliability, long service life, and cost-effectiveness, they remain the preferred choice for backup power supplies and energy storage in uninterruptible power sources (UPS) and telecom installations. Recycling is essential for lead-acid batteries due to lead's environmental and health hazards and the economic value of recovered lead and plastics. Lithium-based batteries, predominantly lithium-ion, are popular in portable electronics, electric automobiles, and renewable energy storage systems owing to their energy density and long lifespan. However, the need for their recycling has escalated with the growing concern over the scarcity of critical metals, including cobalt and lithium, alongside sustainability issues in their supply chain. Nickel-based batteries, including nickel-cadmium (Ni-Cd) and Nickel-Metal Hydride (Ni-MH), are critical for various industrial applications and certain hybrid vehicles. Recycling these batteries is crucial due to the toxic nature of cadmium and the high value of nickel content.

Application: Rising potential of battery recycling across the automotive industry with the adoption of EVs and related policy drives

The expansion of the automotive industry with the rapid shifts towards electric vehicles (EVs), the need for efficient and sustainable recycling of spent lithium-ion batteries is paramount. The end-of-life disposal of these batteries presents an environmental challenge and a valuable opportunity to recover critical materials, including lithium, nickel, and cobalt. Consumer electronics, including laptops, smartphones, and tablets, depend on batteries that require proper end-of-life management. The focus is on recovering valuable materials and preventing toxic substances from entering landfills. The rapid growth in adopting such systems drives the need for battery recycling in energy storage, including grid storage and renewable energy systems. The large-scale batteries used in these applications are typically designed for longevity. The emphasis in this segment is on recycling large-format lithium-ion and lead-acid batteries while maintaining a high standard for environmental protection. The industrial segment includes batteries for industrial purposes such as forklifts, backup power, and heavy machinery. Recycling needs for industrial batteries focus on safety due to the scale and potential hazards involved, compliance with strict regulations, and recovery of materials for reuse in manufacturing new industrial batteries.

Regional Insights

The Americas has shown growing concern towards safe battery disposal, as evidenced by the establishing of federal and state regulations. The need for battery recycling in the Americas is driven by the high adoption rates of electronic gadgets and electric vehicles (EVs). Customer behavior indicates a preference for convenient and sustainable disposal methods. Investments in battery recycling start-ups and R&D initiatives are burgeoning, with companies actively patenting efficient recycling technologies. Rising environmental concerns and constant expansion of the end-use sector are creating a platform for the growth of the battery recycling market in South America. EU countries put a strong focus on sustainability and circular economy principles, making battery recycling a priority. Regulations, including the EU Battery Directive, have propelled significant research and investment into advanced recycling methods. Consumer needs are driven by environmental awareness and the push towards electric mobility. In the Middle East and Africa, the market for battery recycling is emerging with the establishment of formal recycling sectors and government initiatives to manage industrial waste. Asia-Pacific, being a global manufacturing hub, generates a massive amount of battery waste. Government-led policies have been instated to cope, leading to a robust battery recycling infrastructure.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Battery Recycling Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Battery Recycling Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Battery Recycling Market, highlighting leading vendors and their innovative profiles. These include Aqua Metals, Inc., Battery Recycling Made Easy, Battery Solutions LLC, Call2Recycle, Inc., COM2 Recycling Solutions, Contemporary Amperex Technology Co. Ltd., DOE Run Company, East Penn Manufacturing Company, Eco Recycling Ltd, Ecobat Technologies, EnerSys, Exide Industries Limited, Fortum Oyj, Gem Co., Ltd., Glencore PLC, Gopher Resources LLC, Gravita India Limited, Green Technologies Group Ltd., Guangdong Brunp recycling Technology Co., Ltd, Johnson Controls International, Lithion Recycling Inc., NeoMetals Ltd., Onto Technology, LLC, Raw Materials Company, RecycLiCo Battery Materials Inc, Shenzhen Melasta Battery Co., Ltd, Tata Chemicals Limited, Terrapure Environmental, TES Group, Umicore N.V., and Veolia Environnement SA.

Market Segmentation & Coverage

This research report categorizes the Battery Recycling Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Lead-acid Battery
- Lithium-based Battery
- Nickel-based Battery

Material
- Electrolyte
- Metals
- Plastics

Recycling Process
- Hydrometallurgical Recycling
- Mechanical Recycling
- Pyrometallurgical Recycling

Application
- Automotive
- Consumer Electronic
- Energy Storage
- Industrial

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Battery Recycling Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Battery Recycling Market?

3. What are the technology trends and regulatory frameworks in the Battery Recycling Market?

4. What is the market share of the leading vendors in the Battery Recycling Market?

5. Which modes and strategic moves are suitable for entering the Battery Recycling Market?

Product Code: MRR-437D4595838E

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising availability of scrap batteries with the proliferation of electronic vehicles (EVs)
  - 5.1.1.2. Increase in demand for recycled products as a source of raw materials
  - 5.1.1.3. Stringent waste management regulations and the constant push for sustainable practices across industries
- 5.1.2. Restraints
  - 5.1.2.1. High cost of collection and separation of battery materials
- 5.1.3. Opportunities
  - 5.1.3.1. Continuous innovations in the recycling process that reduce costs or enhance the purity of recycled materials
  - 5.1.3.2. Government support for the establishment and adoption of battery recycling technologies
- 5.1.4. Challenges
  - 5.1.4.1. Complexity related to the safe disposal of material from scrap batteries
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing investments for lithium-based battery recycling
- 5.2.2. Application: Rising potential of battery recycling across the automotive industry with the adoption of EVs and related policy drives
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Battery Recycling Market, by Type

6.1. Introduction
6.2. Lead-acid Battery
6.3. Lithium-based Battery
6.4. Nickel-based Battery

7. Battery Recycling Market, by Material

7.1. Introduction
7.2. Electrolyte
7.3. Metals
7.4. Plastics

8. Battery Recycling Market, by Recycling Process

8.1. Introduction
8.2. Hydrometallurgical Recycling
8.3. Mechanical Recycling
8.4. Pyrometallurgical Recycling

9. Battery Recycling Market, by Application

9.1. Introduction
9.2. Automotive
9.3. Consumer Electronic
9.4. Energy Storage
9.5. Industrial

10. Americas Battery Recycling Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Battery Recycling Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Battery Recycling Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Ascend Elements Opens North America's Largest Electric Vehicle Battery Recycling Facility in Georgia
- 13.3.2. Electronics firm Sonid Acquires Young Han Metal to Establish Lithium-Ion Battery Recycling Business
- 13.3.3. StraightUp Resources Inc. Completes Acquisition of Quebec Lithium Project and Battery Recycling Technology Company
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio