February 26, 2020
According to the research report titled ‘Battery Materials Recycling Market Size By Material (Iron, Manganese, Nickel, Lithium, Cobalt, Lead, Electrolytes, Plastics), By End Users (Automotive, Consumer Goods & Electronics, Building & Construction, Aerospace & Defense, Packaging, Textile Industry), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global battery materials recycling market is expected to exceed USD 40 billion by the year 2025.
According to the report, rapid expansion of information technology, entertainment, and communication sectors along with burgeoning demand for smart devices and electronic gadgets are major factors driving the battery materials recycling market growth. There has been an increase in adoption rates of energy efficient devices such as smart phones, sensors, tablets, and laptops that need battery as a power source. This has enhanced the production rate of batteries which in turn is aiding the market expansion.
Growing economy and technological advancements in Asian countries such as South Korea, China, Taiwan, Japan, and Singapore are also stimulating the industry outlook. However, escalating recycling cost of alkaline, silver-oxide, and lithium-ion batteries may hinder the market growth. Moreover, high CO2 emissions during production and disposal stages of batteries may further inhibit the battery materials recycling market expansion.
As per material type, the report states that the lead recycling market segment presently holds 50% share in the overall market. Factors such as minimal loss of quality during recycling process, along with environment friendly nature and energy efficient properties of lead batteries are fueling the segmental growth.
Citing end-use, battery materials recycling market from automotive industry is presumed to expand significantly during the estimated timeframe. Increasing production of electric vehicles and favorable government regulations which promote adoption of green technology are prime factors facilitating the business scenario.
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As per regional analysis, Asia-Pacific battery materials recycling industry will witness lucrative growth by the year 2025, primarily driven by booming automobile sector in Japan, India, and China. On the other hand, battery materials recycling market in North America is poised to amass substantial growth during 2019-2025, owing to strict government regulations regarding recycling of dead batteries.
The prominent companies operating in the battery materials recycling market are RSR Corporation, Terrapure Environmental, Gopher Resource, Aqua Metals, Gravita India Ltd., Call2Recycle, Inc., EnerSys, Exide Industries, Umicore N.V., Retriev Technologies, Inc., G&P Batteries, Eco Bat Technologies, East Penn Manufacturing Co., Battery Solutions LLC, and Johnson Controls International Plc.
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