Umicore, Ecobat, LLC, Glencore plc, Li-Cycle Corporation, American Battery Technology Company (ABTC), East Penn Manufacturing, RecycLiCo Battery Materials Inc., Ganfeng Lithium Group Co., Ltd, Exide Industries Limited, and EnerSys, among others, are the key players in global market for battery recycling.
The global battery recycling market attained a value of USD 11.34 billion in 2022. The market is further expected to grow at a CAGR of 7.80% between 2023 and 2028 to reach a value of USD 17.8 billion by 2028. As per the analysis by Expert Market Research, the market is expected to be driven by increasing environmental consciousness and growing demand for consumer electronics.
Recycling batteries is the process of reusing, reprocessing, or safely discarding batteries in order to reduce battery waste and keep batteries from becoming material waste. Different battery types can be recycled using various techniques. The most typical recycling process for lithium-ion batteries is collection, sorting, and melting. The primary goal of battery recycling is to safeguard the environment from potentially dangerous gases and materials that may leak from a battery as it degrades.
Greater sustainability is provided through battery recycling, which is a major development in the battery recycling market. There is less need to mine new resources to make new batteries due to recycling as existing resources can be re-used. This method prevents natural resources from being exhausted, which is a significant market-driving factor for battery recycling.
The demand for various battery-powered consumer products, including electronic bikes, electric wheelchairs, and micro hybrid vehicles, among others, is significantly increasing the demand for battery recycling. A stronger supply chain is being created by technology advancements targeted at increasing the maturity and complexity of batteries to lower production costs.
Globally, there is a growing emphasis on lowering the amount of waste that is disposed of in landfills due to growing environmental concerns. More countries are promoting adequate battery recycling because it helps prevent used batteries from ending up in landfills, thus aiding the battery recycling market size.
Due to the rising need for lead-acid and lithium-ion batteries in a variety of consumer electronics, the consumer electronics sector is a significant application for battery recycling. The battery recycling market is being supported by the rising demand for downstream consumer electronics products including battery-operated toys, headphones, and other items like handheld power tools.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Umicore is a market-leading provider of circular materials technology with deep knowledge in metallurgy, chemistry, and material science. The majority of Umicore's revenue comes from clean technologies, such as catalysts for pollution control, components for rechargeable batteries, and recycling, which is also allocated a significant amount of the company's research and development resources. Together, the company's three primary areas of focus—Catalysis, Energy and Surface Technologies, and Recycling—address the global megatrends. Cutting-edge innovation, application know-how, and unwavering ambition are combined by the professionals in every area of the business to produce material-based solutions that promote sustainable living throughout the world.
|Headquarters:||Texas, United States|
Ecobat, one of the largest battery recyclers in the world, satisfies critical energy storage demands by making the battery industry safer and more environmentally friendly for a circular energy economy. The company uses cutting-edge technology and its extensive network of facilities and service partners to create new products that satisfy the expanding market demand for more dependable and efficient energy storage solutions.
Glencore is a multinational and diversified natural resource firm that produces, processes, sources, stores, refines, transports, finances, and supplies commodities globally. The company produces and markets a variety of mineral products. Operations of Glencore include processing, storage, and transportation of energy, agricultural products, metals, and minerals. Its network comprises of more than 90 offices spread over more than 50 nations.
Li-Cycle, with its headquarters in Canada, recycles lithium-ion batteries. It is on a quest to use its trademark Spoke & Hub Technologies to create a secondary supply of vital battery components while offering a customer-centric end-of-life solution for lithium-ion batteries. Rechargeable lithium-ion batteries are increasingly used to power automobiles, energy storage systems, consumer electronics, and other commercial and domestic appliances. For each of its clients' battery recycling needs, the company offers solutions that are focused on them as the customer.
|Headquarters:||Nevada, United States|
American Battery Technology Company works to develop primary mineral resources for use in batteries that power electric vehicles, consumer electronics, grid storage applications, and tools. It does this by promoting environmentally friendly and morally upright sourcing of necessary battery materials through lithium-ion battery recycling, battery metal extraction technologies, and primary mineral resource development. The company is well-positioned to provide low-cost, low-environmental impact, and domestically sourced battery metals through its three divisions; lithium-ion battery recycling, primary resources development, and primary battery metal extraction technology.
|Headquarters:||Pennsylvania, United States|
East Penn Manufacturing is a family-owned business that runs one of the biggest single-site manufacturing plants for lead-acid batteries and accessories. They also have numerous activities, buildings, and clients all over the world in addition to a sizable distribution network across North America. More than 515 different battery types for automobiles, boats, motorcycles, forklifts, and other vehicles are developed and produced by East Penn using the principles of a circular economy. It provides businesses and communities with reliable stationary backup systems to supply supplementary battery power.
RecycLiCo Battery Materials (formerly American Manganese Inc.), which specialises in battery recycling and upcycling, created the RecycLiCo patented battery recycling method. The RecycLiCo process is a closed-loop, hydrometallurgical method that extracts lithium, cobalt, nickel, and manganese almost entirely from the waste of lithium-ion batteries. RecycLiCo produces useful lithium-ion battery materials from waste with little negative environmental effects.
|Headquarters:||Jiangxi Province, China|
Ganfeng Lithium Group Co Ltd, formerly known as Ganfeng Lithium Co Ltd, specialises in the manufacturing and marketing of lithium and lithium battery-related products. The company engages in the extraction of lithium resources, processing of lithium salt, smelting of metallic lithium, production of lithium batteries, and battery recycling. The company's major products are lithium batteries, lithium compounds, and metallic lithium. Their products are widely employed in a variety of industries, including pharmaceuticals, functional materials, aerospace, and electric vehicles.
|Headquarters:||West Bengal, India|
Exide develops, produces, advertises, and provides a large selection of lead acid storage batteries, with capacities ranging from 2.5Ah to 20,600Ah to support a broad range of applications. The company produces batteries for the infrastructure, automotive, power, defence, mining, computer, and telecom sectors. Exide sells its products under the Standard Furukawa and EXIDE SF SONIC Brands, with the DYNEX INDEX and SONIC brands used to market the items in the global market.
|Headquarters:||Pennsylvania, United States|
EnerSys is a market leader in stored energy systems for commercial applications. The company complements its extensive line of motive power, aerospace/defence, reserve power, and speciality batteries with a wide range of integrated services and systems. The company develops and exports reserve power and motive power batteries, power tools, battery accessories, battery chargers, and enclosure solutions for outdoor equipment to customers worldwide. EnerSys has extensive experience with batteries and sales and service centres positioned all over the world.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.