Battery recycling Market growth over 25 Billion Dollars by 2026 | Planet Market Reports

Battery Recycling Market Research Growth:

The worldwide market for Battery Recycling is expected to grow at a CAGR of roughly X.X% over the next ten years, will reach XX.XX million US$ in 2023, from XX.XX million US$ in 2013, according to a new comprehensive Market Reports study conducted by Planet Market Reports

The global battery recycling market has nowhere near lost its steam. The industry was valued at around USD 10 Billion last year, according to new figures published by Planet Market Reports. This booming industry will see another peak in the years ahead, with analysts predicting a compound annual growth rate of 11% between now and 2026.

In terms of battery chemistry, lead-acid was the dominant segment in 2017, accounting for more than 45% share in terms of value. It is expected to remain the leading battery type during the forecast period. However, the lithium-ion battery chemistry segment is anticipated to expand at a ‘very fast pace’ during the next couple of years.

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Battery recycling is the process of recycling used batteries from various sources, preventing them from going into municipal wastes and landfills for disposal. Almost all household batteries, battery packs from mobile phones, power tools, laptops & remote control units, and car batteries can be recycled. Batteries comprise several toxic and hazardous metals and heavy metals such as lead, mercury, nickel, and cadmium. These can contaminate soil or underground and surface water resources if they go into landfills. Upon incineration, batteries release these metals into the environment along with the ash formed during the process. Battery recycling prevents the degradation of the environment and potential health hazards caused by disposed of batteries. Batteries are manufactured from various chemical compositions and materials. Each type of battery has a different process of recycling. As a result, the sorting of batteries based on their chemical composition becomes an important aspect for battery recycling.

Batteries can potentially pose threat to the environment and human health. Raw materials used in the manufacture of batteries such as mercury, lead, nickel, and cadmium pose a high threat to human life and the environment. Improper disposal of used batteries into landfills can leach these heavy metals to the soil, contaminating not only underground water and surface water sources but also causing soil contamination. The battery manufacturing industry has identified these potential environmental hazards caused by improper disposal and has taken initiatives to recycle used batteries. Several nonprofit and government organizations have also taken steps to increase awareness about the harmful effects of unsafe battery disposal and benefits of battery recycling. They have collaborated with several automotive companies and service providers for the same. Thus, an increase in environmental concerns is expected to be a key driver of the market.

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The commercial value of raw materials used for manufacturing batteries is high. These raw materials are non-renewable and can be recycled an indefinite number of times. Materials obtained from the battery recycling process such as lead, zinc, cadmium, steel, carbon, and plastic can again be used as raw materials in the battery manufacturing process. Thus, battery recycling can reduce the mining of valuable and non-renewable metals, and heavy metals and can prevent them from becoming scarce. Materials obtained from battery recycling are also economical compared to their fresh counterparts. Using these can make manufacturing processes more economical and environment-friendly. Increase in demand for portable electronics such as laptops, smartphones, tablets, and digital cameras is also expected to drive the battery recycling market due to the rise in demand for batteries in these electronic products. These products depend on batteries for power supply. Increase in usage of these products is anticipated to eventually boost the usage of batteries. Portable electronics products have a lifecycle of around two to five years. Thus, batteries used in these products are rendered unusable after the expiry of the lifecycle of these products. This is estimated to create significant demand for battery recycling in the near future.

Firstly, the report provides a basic overview of the industry including its definition, applications and manufacturing technology. Then, the report explores the international and Chinese major industry players in detail. In this part, the report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for each company. Through the statistical analysis, the report depicts the global and Chinese total market of Battery Recycling industry including capacity, production, production value, cost/profit, supply/demand and Chinese import/export.

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The total market is further divided by company, by country, and by application/type for the competitive landscape analysis. The report then estimates 2018-2023 market development trends of Battery Recycling industry. Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out. In the end, the report makes some important proposals for a new project of Battery Recycling Industry before evaluating its feasibility. Overall, the report provides an in-depth insight of 2013-2023 global and Chinese Battery Recycling industry covering all important parameters.

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