Prepaid Battery Recycling Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Prepaid Battery Recycling Market: Introduction

Battery recycling process can be defined as a reprocessing practice aimed to reduce the number of batteries being disposed as municipal solid waste
These batteries contain several poisonous chemicals and heavy metals. Disposal of these batteries as regular trash deteriorates the ground water and causes contamination of the soil.
Battery recycling units sort batteries according to their type, chemistry, and size. They provide end-of-life management of batteries, from collection to recycling, in a compliant manner with respect to the environmental regulations.
Prepaid battery recycling can be considered a prepaid service, wherein scrap batteries are recycled in prepaid recycling facilities. By-products derived from the battery recycling process are further utilized in different industries such as electric vehicles and mobile phone manufacturing.

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Key Drivers of Prepaid Battery Recycling Market

Lead acid batteries have been accounting for major share of the prepaid battery recycling market since the last few years. More than 50% of the lead supply comes from recycled batteries. Automotive industries have contributed significantly to the battery recycling market, as lead is used in a number of car components including lead wheel weights, solder in electronics, and lead car batteries. Thus, an increase in quantity of lead is expected to be required due to the growth of the automobile sector. This is anticipated to drive the prepaid battery recycling market.

The global drive to replace existing petrol and diesel vehicles with new electric vehicles (EV) has been experiencing significant growth since the last few years. According to a Canada-based battery recycling startup Li-Cycle, the transition toward electric vehicle could leave 11 million tons of spent lithium-ion batteries for recycling by the end of 2030. This is estimated to create ample opportunities for new entrants in the prepaid battery recycling market.

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Restraints of Prepaid Battery Recycling Market

Many underdeveloped countries have opened dedicated recycling units of late. This has limited the supply of batteries for prepaid recycling in developed countries.
Unorganized recycling of batteries through manual labor, lack of usage of personal protective equipment (PPE) while carrying lead, and lack of awareness about disposal methods are expected to hinder the prepaid battery recycling market

Major Developments

On November 07, 2019, TES, an electronic waste recycling company operating in Singapore, opened two new battery recycling units. According to the company, these units are expected to offer the highest commodity recovery rates in the recycling industry for lithium, cobalt, copper and aluminum.
On March 2019, Volkswagen announced that it is opening a new pilot recycling project near its global headquarters in Wolfsburg, Germany. The project will start by end of year 2020. The company also revealed that the plant intake would be around 1,200 tons of used automotive lithium ion battery packs a year. Volkswagen aims to recycle almost 97% of all the raw materials used in the battery packs over the next 10 years. This move is anticipate to help the company drive the sale its new EVs.

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Key Players Operating in Prepaid Battery Recycling Market

Major players operating in the global prepaid battery recycling market include:

Veolia
Battery Solutions
Umicore
uRecycle
Retriev Technologies
Gravita India Ltd.
Exide Technologies
East Penn Manufacturing
ENERSYS
COM2 Recycling Solutions
ENGITEC TECHNOLOGIES
Vinton Batteries
The Doe Run Company
Johnson Controls

Global Prepaid Battery Recycling Market, by Product type

Lead Acid
Lithium Ion
Nickel Cadmium
Nickel-Metal Hydride
Others

Global Prepaid Battery Recycling Market, by Application

Material Extraction
Reuse or Second Life
Disposal
Others

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