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According to a study, more than 3 billion batteries in the U.S., which is equivalent of 125,000 tons, are used and disposed later. These batteries contain several heavy metals and toxic chemicals. Disposal of batteries by the same process as regular trash has raised concerns over soil contamination and water pollution. However, battery recycling protects environment from heavy metal contamination. It is a recycling activity which aims to reduce the number of batteries being disposed as municipal solid waste. Used batteries are collected by Environmental Health and Safety (EH&S) for recycling. Some types of batteries recycled by EH&S include alkaline, carbon-zinc, mercury, lithium ion, nickel-cadmium (Ni-Cd), nickel metal hydride (Ni-MH), silver button, sealed lead acid (Pb) etc. Battery recycling is the best option from both economic and environmental perspective for most batteries. The global battery recycling market is estimated and forecasted in terms of revenue (USD million) generated by the global market.
The global battery recycling market is witnessing remarkable growth due to increasing demand for recycled products and materials worldwide. Furthermore, the overall market is also being propelled by stringent government regulations and depletion of earth metals. Also, surging subsidies to encourage battery recycling and growing number of hybrid and EV batteries would provide growth opportunities to this market in future. However, the global battery recycling market is hampered by safety issues related to storage and transportation of consumed batteries.
The report analyses the global battery recycling market based on chemistry, source, end use, material and geography.
Based on chemistry, the market is segmented into lead acid battery, lithium-based battery, nickel-based battery and other batteries. Among various chemicals, the lead acid batteries held the largest share of the market in 2017, due to increasing demand in a wide range of automotive and industrial applications.
Based on source, this market is segmented into automotive batteries, industrial batteries and consumer & electronic appliance batteries. Among all sources, the automotive batteries accounted for the largest share of the battery recycling market in 2017. It is an indispensable component of the powertrain of a vehicle, thus driving the segment growth.
Based on end use, the global battery recycling market is categorized into extraction of material, reuse, repackaging and second life and disposal. Among these, the extraction of material is anticipated to grow at the highest CAGR, chiefly due to the growing usage of battery recycling for material extractions.
In addition to this, based on material, this market is segmented into iron, manganese, nickel, lithium, lead, cobalt, aluminium and plastic. Among all materials, the lithium accounted for the largest share of the battery recycling market in 2017, due to widespread use globally.
By geography, the global battery recycling market is studied across the countries of key regions such as, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2017, Europe dominated the global battery recycling market. High demand of battery recycling in application such as such as automotive, industrial, and consumer & electronic appliances are fuelling the growth in Europe. Significant countries in the Europe battery recycling market are Germany, the U.K., France, Russia, and Italy. Furthermore, the North America region is expected to grow at a lucrative rate during the forecast period. The demand for battery recycling is increasing in this region, due to stringent environmental regulations for proper disposal and recycling of batteries in the economies, such as the U.S. and Canada.
Some of the key market players of the global battery recycling market include Call2recycle, Aqua Metals, Umicore, Exide Technologies, Johnson Controls, Enersys, Gravita India Limited, Teck Resources Limited, Battery Solutions, Inc., Gopher Resource, G&P Batteries, Terrapure Environmental, East Penn Manufacturing Co., Retriev Technologies Inc., COM2 Recycling Solutions, RSR Corporation, The Doe Run Company, Raw Materials Company, World Logistics Inc., Guangdong Brunp Recycling Technology Co., Ltd, Metalex Products Limited, Accurec Recycling GmbH, Tonolli Canada Ltd, Kinbursky Brothers Inc., Recupyl S.A.S and Vinton Batteries. Strategies such as product innovation and collaborations are adopted by global players as well as regional players, to maintain the product quality, thus rendering market sustainability.
The global battery recycling market is segmented based on chemistry, source, end use, material and geography. Based on chemistry, the market is segmented into lead acid battery, lithium-based battery, nickel-based battery and other batteries. Among various chemicals, the lead acid batteries held the largest share of the market in 2017, due to increasing demand in a wide range of automotive and industrial applications.
Based on source, this market is segmented into automotive batteries, industrial batteries and consumer & electronic appliance batteries. Among all sources, the automotive batteries accounted for the largest share of the battery recycling market in 2017. It is an indispensable component of the powertrain of a vehicle, thus driving the segment growth.
Based on end use, the global battery recycling market is categorized into extraction of material, reuse, repackaging and second life and disposal. Among these, the extraction of material is anticipated to grow at the highest CAGR, chiefly due to the growing usage of battery recycling for material extractions.
In addition to this, based on material, this market is segmented into iron, manganese, nickel, lithium, lead, cobalt, aluminium and plastic. Among all materials, the lithium accounted for the largest share of the battery recycling market in 2017, due to widespread use globally.
By geography, the global battery recycling market is studied across the countries of key regions such as, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2017, Europe dominated the global battery recycling market. High demand of battery recycling in application such as such as automotive, industrial, and consumer & electronic appliances are fuelling the growth in Europe.
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