Product Code: 53056
The global battery recycling market is expected to grow at a CAGR of more than 15% over the period of 2020-2025. Factors such as rising concerns over battery waste disposal and stringent government policies clubbed with the increase in usage of lithium-ion battery due to the declining lithium-ion battery prices and growing adoption of electric vehicles, are likely to drive the battery recycling market during the forecast period. The raw materials for the manufacturing of lithium-ion batteries are available at a low cost, whereas a high cost is incurred in recycling. The high cost, along with the lack of a strong supply chain and low yield related to battery recycling, is likely to restrain the growth of the battery recycling market in the coming years.
- The lead battery segment held the major market share in 2018, and it is likely to dominate the market during the forecast period.
- Advancements in battery technologies leading to the creation of technologically advanced batteries being developed by manufacturers are likely to create a massive opportunity for the battery recycling companies to invest and redirect their resources to make a breakthrough battery recycling technology.
- Europe has dominated the battery recycling market, with the majority of the demand coming from the United Kingdom, Germany, and Russia.
Key Market Trends
Lead-acid Battery to Dominate the Market
- Spent lead-acid batteries (LABs) are widely scrapped from automobiles and electric bicycles in urban areas. The reported scrap LABs are solid waste and classified as hazardous materials in many countries. Their disposal has become a significant environmental concern. Toxic substances, like lead, can leak into the environment when car batteries and other lead-acid batteries end up in the landfill.
- Recycling lead-acid batteries is a rigorous process and are necessary to ensure that the different parts are safe to reuse.
- Recycling and reuse of LABs are therefore attracting great attention from both the public and materials processing industry.
- Additionally, the depletion of high-quality lead ores resulting in rising extraction costs has become a critical challenge for the lead extractive metallurgical industry. As a result, scrap LABs have become a significant secondary lead source globally.
- Therefore, with the increase in the demand for lead-acid batteries, the manufacturing of batteries that would be disposed off and be available for the recycling process is expected to increase.
Europe to Dominate the Market
- Europe has dominated the battery recycling market in 2018 and is expected to continue its dominance in the coming years as well. In the last four years, the United Kingdom has witnessed a remarkable surge in demand for electric vehicles (EV). New registrations of plug-in-cars increased from 3500 in 2013 to more than 150,000 by 2018.
- In July 2019, Hyperdrive Innovation opened one of the largest independent battery manufacturing facilities in the United Kingdom. The company has been investing about EUR 7 million since 2014 for building this facility. This development is in line with the government's target of net-zero emissions by 2050, as well as with Jaguar Land Rover's new reinvestment in EV production in the country.
- This is expected to increase the demand for battery recycling market in the United Kingdom during the forecast period.
- Germany has remained one of the leading markets for lead-acid battery across Europe. Apart from domestic consumption, Germany remained a regional hotspot for the trade of lead-acid batteries across the world.
- Hence, the strong manufacturing sector is expected to require strong recycling battery market. Hence, the country is expected to have a decent growth for recycling battery market.
- The demand for battery cells in Europe is expected to exceed 300 GWh by 2025, owing to the rapid growth in the electrification of transportation solutions by the European car OEMs. This, in turn, is likely to drive the battery recycling market in Europe during the forecast period.
The battery recycling market is moderately fragmented. Some of the key players in this market include Accurec Recycling GmbH, Aqua Metals Inc., Battery Recycling Made Easy LLC, Battery Solutions Inc., and Call2Recycle Inc.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
- 4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
- 4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Battery Type
- 5.1.1 Lead-acid Battery
- 5.1.2 Nickel-based Battery
- 5.1.3 Lithium-based Battery
- 5.1.4 Other Battery Types
- 5.2 Geography
- 5.2.1 North America
- 5.2.2 Europe
- 5.2.3 Asia-Pacific
- 5.2.4 South America
- 5.2.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 Accurec Recycling GmbH
- 6.3.2 Aqua Metals Inc.
- 6.3.3 Battery Recycling Made Easy
- 6.3.4 Battery Solutions Inc.
- 6.3.5 Call2Recycle Inc.
- 6.3.6 Eco-Bat Technologies Ltd
- 6.3.7 Exide Technologies
- 6.3.8 Neometals Ltd
- 6.3.9 Raw Materials Company
- 6.3.10 Recupyl SAS
- 6.3.11 Recyclex
- 6.3.12 The Doe Run Resources Corporation
- 6.3.13 Umicore SA
- 6.3.14 GS Yuasa Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS