Global battery recycling market is anticipated to grow at a significant CAGR of 22.4% during the forecast period (2024-2031). The ongoing researches to identify the highly effective battery recycling method in order to minimize the surging battery waste is a key factor driving the growth of the global battery recycling market. For instance, in May 2024, the U.S. Department of Energy’s (DoE) Argonne National Laboratory with Toyota Motor North America (Toyota) have joined forces to investigate developing a direct recycling process for lithium-ion batteries.
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As per a Cooperative Research Development Agreement (CRADA) signed between the two parties, the battery recycling research will be focused on cathode chemistries made of nickel, manganese, and cobalt batteries. The project is projected to deliver a net improvement in battery materials manufacturing costs, waste and carbon footprint. The research project will explore a new process for recovering critical battery materials and will be such that it can be used for end-of-life batteries as well as manufacturing scrap.
Additionally, in August 2023, the researchers at Mumbai University have developed a profitable method to recycle lithium-ion (Li-ion) batteries, commonly used in mobiles, laptops, tablets, smartwatches, and electric vehicles. The research team has developed a method to manufacture high-capacity batteries from discarded Li-ion batteries.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered-
o By Battery Type
o By Source
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Accurec Recycling GmbH, Glencore PLC, Princeton NuEnergy Inc., Li-Cycle Holdings Corp., and Recyclico Battery Materials Inc. among others.
Key questions addressed by the report.
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Battery Recycling Market Report Segment
By Battery Type
- Lithium-ion
- Lead-Acid
- Nickel-based
- Other
By Source
- Automotive
- Industrial
- Consumer Electronics
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