The global battery recycling market is anticipated to grow at a CAGR of nearly 10.0% during the forecast period (2022-2028). The major factor expected to drive the market growth is the increasing government regulations for battery disposal and recycling, environmental safety, and awareness among people related to the environment and the benefit of a clean environment. In addition, the growing demand for recycled products and recovery of valuable metals, the rising popularity of electric vehicles (EVs), and the growing Focus on lithium-ion battery recycling will further drive the market growth during the forecast period. For instance, in May 2021, POSCO announced the agreement with Huayou Cobalt to set up a new plant for lithium-ion battery recycling in Jeonnam Province, South Korea. The capacity expected is 10,000 metric tons per year, and the plant’s construction has already begun and serviceable within two years. The company also added that the battery scraps will be imported from Europe and recycled in their facility.
Some major players in the market include Call2Recycle, Inc., Accurec Recycling GmbH, and Aqua Metals, Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in January 2019, Call2Recycle, Inc. announced a partnership with CellBlock Fire Containment Systems (US) to expand its safe battery collection, handling, and transportation. The agreement includes a complete range of battery protection solutions such as consumer mail-back solutions, hazardous material drums, fire suppression pillows and blankets, and damaged lithium-based battery kits. Furthermore, in June 2021, GEM Co., Ltd. announced an investment of nearly $47.3 million to recover nickel and cobalt material (precursor materials) from an existing plant for battery recycling in the Hubei province of China. The company wants to triple its annual precursor production to 100,000 metric tons per year by 2025.
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Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Chemistry Type
By Source
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Top Major Key Players:
Call2Recycle, Inc., Accurec Recycling GmbH, and Aqua Metals, 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?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
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Global Battery Recycling Market Report by Segment
By Chemistry Type
Lead-Acid Based Battery
Lithium-Ion Based Battery
Nickel-Based Battery
Other Battery Type
By Source
Automotive Batteries
Industrial Batteries
Consumer & Electronic Appliance Batteries
By Application
Transportation
Consumer Electronics
Industrial
Others
