Top 4 Factors Outlining Battery Materials Recycling Market Trends

Reports estimate that the global battery materials recycling market could cross USD 40 billion in terms of the annual valuation by the year 2025, powered by constant technological advances.

Wide-ranging applications across communication, entertainment, and information technology industry are driving new developments in the global battery materials recycling industry.

Improved purchasing power of consumers worldwide has created a demand for smart devices and electronic products.

Increased use of tablets, laptops, sensors, and smartphones and the thrust for premium electronic gadgets has propelled the need for energy-efficient power storage solutions across the globe.

Let’s now understand how the industry will evovlve over the next few years and take a look at some of the key upcoming trends in recycling of battery materials.

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Emerging opportunities with fast growing EV adoption

Trends in the battery material recycling are being influenced by ongoing developments in the global automobile sector. These trends will further evolve with the widespread adoption of electric vehicles to reduce the CO2 levels.

In the year 2020, the worldwide electric vehicle sales stood at 3.1 million. Strict government policies encouraging more and more people towards greener mobility indicate that these numbers will only grow in the future, creating new growth opportunities for the battery materials recycling market.

Backed by the growing adoption of electric vehicles worldwide, li-ion batteries are likely to follow an upward trend with a considerable growth in production capacity.

Favorable regulatory framework promoting battery recycling

Shifting focus towards cleaner solutions among automakers in Asia Pacific countries such as India, China, and Japan has supported the growth in battery materials recycling market over the years. The regional auto industry has experienced a significant boom in recent years with improvement in purchasing power and the subsequent rise in automobile production.

India, for instance, has emerged among the largest automotive sales nation with an approximate sales figure of 3.8 million units in the year 2019 owing to the rising middle class and young population across the country. The other regions with high growth potential in the the battery materials recycling industry include North America due to the stringent policies established by the government to recycle dead batteries.

For example, in the U.S., federal law mentions that used batteries such as nickel-cadmium and lead cadmium and lead batteries will be managed as Universal waste. This rule restricts the consumers from disposing of the dead batteries and indicates that these batteries should be recycled.

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Lead remains among the most recycled battery materials

With respect to the type of materials, lead has emerged as the most recycled battery material responsible for more than 50% share, when compared to other materials like nickel, iron, cobalt, lithium, and iron.

The high rate of recycling of lead is supplemented by paltry loss of quality during the process of recycling. The material may be re-melted any number of times and the end product is indistinguishable from primary lead which is produced from ore once a thorough treatment is done.

Additionally, the recycling of lead positively contributes to the environment as the process is energy efficient, and reduced the dispersal of lead in the environment, and conserves mineral resources for the coming times.

Rising efforts by industry player to expand operation

The global battery materials recycling market is competitive with many small and large industry players seeking to expand their operations to meet the growing industry demands. These companies are entering into mergers, acquisitions, and inking alliances to expand their operations across borders.

For instance, in September 2020, Ecobat Battery Technologies stepped foot in the Northern Ireland region with the acquisition of Easystart Ireland. Such efforts will promote the availability and push the scope of battery materials recycling market in the coming times. Some of the notable industry players include Aqua Metals, Johnson Controls, Battery Solutions, and Umicore, to name a few.

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The high cost linked to the recycling of certain batteries such as silver-oxide, lithium-ion, alkaline batteries may adversely affect the growth in the global battery materials recycling market. The cost of recycling lithium is high when compared to the lithium produced from brine-based process.

However, the aforementioned companies are constantly working on developing novel technologies in order to cut recycling costs, which will foster battery market recycling market trends.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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