Battery Materials Recycling Market will surpass USD 40 billion by 2025; according to a new research report.
Flourishing demand for electronic gadgets and smart devices with the robust growth across communication, entertainment, and information technology sectors is the major factor driving battery materials recycling market. Growing adoption of energy efficient devices such as laptops, tablets, sensors, smart phones requires batteries for power generation and the thrust for premium electronic gadgets has escalated the manufacturing of batteries which in turn is uplifting the overall market. Asian countries like Singapore, Japan, Taiwan, China and South Korea are the key influencer of electronics market, this is attributed to technological advancements and increasing economic growth of nations.
The high cost associated with recycling of certain batteries like lithium ion, silver-oxide, alkaline batteries might hamper battery materials recycling market in 2025 as lithium recycling costs multiple times the cost of lithium produced from brine-based process. Despite lithium being 100% recyclable, it is re used only in non-automotive purposes like in construction or sold directly in the open market. In addition, high CO2 emissions during production and disposal stage shall restrain the market growth for example, energy input and carbon dioxide emission per 1kWh of battery is around 360 Mcal/kWh and 75kg-CO2/kWh, respectively for Nickel metal hydride.
Lead has emerged as the most recycled battery material accounting for over 50% as compared to other materials like iron, nickel, cobalt, plastic, lithium etc. The high recycling rates of lead is supported by paltry loss of quality during recycling process, as lead can be re-melted any number of times and the final product is indistinguishable from primary lead produced from ore provided proper treatment process is done. Also, lead recycling has a positive contribution towards environment because of the process being energy efficient, it reduces dispersal of lead in the environment and conserves mineral resources for the future.
Battery material recycling market is hugely influenced by growing automotive industry across the globe supported by the rising wave for electric vehicle that is reshaping the global automobile sector. The worldwide electric vehicle sales were 1.1 million in 2017 and is even expecting a higher growth rate in future due to stringent government policies to shift towards a greener environment. Strengthened by the growth of EVs worldwide, lithium ion batteries are expected to follow an uplifting manufacturing trend with production capacity growing from 131 GWh in 2019 to 400 GWh by 2021 which in turn will trigger the demand for recycling of such batteries.
Supported by a flourishing automobile sector in emerging Asian countries like China, India and Japan Asia pacific has emerged as the highest growth market for battery material recycling. India has registered itself as the fourth largest automobile sales country with sales figure of 4.02 million in 2017 due increasing middle class and young population in the country. The other regions seeking a high growth potential for battery materials recycling market is North America which is completely attributable strict government regulations related to recycling of dead batteries. For instance, In USA, federal law sates that used batteries like nickel cadmium and lead batteries will be managed as Universal waste (40 CFR Part 273). The rule prohibits consumers from disposing dead batteries and indicates that these batteries must undergo recycling.
Battery material recycling market is highly competitive with the presence of several small- and large-scale players in market. Few players engaged in the business of battery recycling are Johnson controls, Aqua Metals, G&P Batteries, Battery solutions, Eco-Bat technologies, Umicore etc. Aqua Metals has reinvented its lead recycling process with AquaRefining technology for smelter less recycling of lead batteries.
Recycling battery material market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2014 to 2025, for the following segments:
Battery Materials Recycling Market, By Material
Battery Materials Recycling Market, By End User
- ·Consumer goods & electronics
- ·Building & construction
- ·Aerospace & defense
- ·Textile industry
The above information is provided on a regional and country basis for the following:
- ·North America
- ·Asia Pacific
- ·Latin America
- ·Middle East & Africa