What is Battery Materials Recycling Market?
Batteries contain materials such as chemicals and heavy metals. Battery material recycling refers to the process of recycling the battery material from the various sources such as automotive, electronics and preventing this battery material from being disposed of as solid waste. Market players are focusing on the technological advancement to improve the battery recycling system which will be propelling the market growth. For instance, according to the study published by Advanced Energy Materials researches are focusing on the development of the recycling system which will use less energy and based on the principle of collecting cathode particles from used lithium-ion batteries. Further, growth in automotive and consumer electronics industry expected to drive the growth of battery material recycling market over the forecasted period.
Highlights from Battery Materials Recycling Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Battery Solutions LLC (United States), Call2Recycle, Inc. (United States), Exide Technologies (United States), Retriev Technologies, Inc. (United States), Tesla (United States), East Penn Manufacturing Company (United States), EnerSys (United States), G & P Batteries (United Kingdom), Gravita India Ltd. (India), Johnson Controls, Inc. (United States), Guangdong Brunp Recycling Technology Co., Ltd. (China), Redwood Materials (United States), Tata Chemicals (India), BASF SE (Germany), GEM Co., Ltd. (China), Li-Cycle Corp. (Canada), INMETCO (United States), Fenix Battery Recycling (United Kingdom), ERASTEEL (France), American Battery Technology Company (United States), Umicore N.V. (Belgium), Glencore (Switzerland), Zhejiang Huayou Cobalt (China), SungEel HiTech. Co., Ltd. (South Korea), Posco Hy Clean Metal (South Korea), DOWA ECO-SYSTEM Co.,Ltd. (Japan), Sumitomo Metal Mining Co., Ltd. (Japan) and Envirostream Australia Pty Ltd (Australia) |
CAGR | 8.27% |
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Battery Materials Recycling market throughout the forecasted period.
Battery Solutions LLC (United States), Call2Recycle, Inc. (United States), Exide Technologies (United States), Retriev Technologies, Inc. (United States), Tesla (United States), East Penn Manufacturing Company (United States), EnerSys (United States), G & P Batteries (United Kingdom), Gravita India Ltd. (India), Johnson Controls, Inc. (United States), Guangdong Brunp Recycling Technology Co., Ltd. (China), Redwood Materials (United States), Tata Chemicals (India), BASF SE (Germany), GEM Co., Ltd. (China), Li-Cycle Corp. (Canada), INMETCO (United States), Fenix Battery Recycling (United Kingdom), ERASTEEL (France), American Battery Technology Company (United States), Umicore N.V. (Belgium), Glencore (Switzerland), Zhejiang Huayou Cobalt (China), SungEel HiTech. Co., Ltd. (South Korea), Posco Hy Clean Metal (South Korea), DOWA ECO-SYSTEM Co.,Ltd. (Japan), Sumitomo Metal Mining Co., Ltd. (Japan) and Envirostream Australia Pty Ltd (Australia) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Fortum (Finland), Terrapure Environmental (Canada), Hydrovolt AS (Norway) and Gopher Resource (United States). Battery Materials Recycling Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Extraction of Material, Repackaging Reuse and Second Life and Disposal |
Battery Chemistry | Lithium-Ion {Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Manganese Oxide(LMO), Lithium Nickel Manganese Cobalt Oxide (NMC), Lithium Nickel Cobalt Aluminium Oxide (NCA), Lithium Titanate (LTO)},Lead-Acid,Nickel Cadmium,Nickel Metal Hydride |
Material | Iron,Manganese,Nickel,Lithium,Cobalt,Lead,Electrolytes,Plastics |
Methods | Direct,Pyrometallurgical,Hydrometallurgical,Electrochemical Extraction,Others |
On the basis of geography, the market of Battery Materials Recycling has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Southeast Asia, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Belgium, Switzerland, Finland, Norway, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Material Recycling From the Lithium-Ion Batteries and Emphasizing On Development of the Advance Battery Recycling System
Market Growth Drivers:
Increasing Demand for Recycled Material and Products and Rising Environmental Concerns Regarding Used Batteries
Challenges:
Lack of Awareness about the Battery Material Recycling
Restraints:
Stringent Government Regulations Regarding Battery Disposal and Issues Related With Storage and Transportation
Opportunities:
Growing Transportation and Automotive Industry and Increasing Demand from the Developing Economies
Key Target Audience
Battery Manufacturers, Potential Investors, Technology Providers, Government Bodies, Business Research and Consulting Service Providers and Others
16th April 2019, Tesla, automotive and energy company at its Nevada gigafactory has developed a battery recycling system to maximize the recovery of critical battery materials such as cobalt and lithium.
“In the United States., federal law requires, with certain exceptions, used nickel cadmium (Ni-Cd) and lead (Pb) batteries to be managed as Universal Waste (40 CFR Part 273). The Universal Waste Rule prohibits handlers (e.g., contractors) from disposing of waste Ni-Cd and Pb batteries and further indicates that these batteries must be sent for recycling.”