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Global Battery Recycling Market Share, Trends, Research: By Chemistry: Lithium-ion, Lead Acid, Nickel, Others; By Application: Transportation, Consumer Electronics, Industrial; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Battery Recycling Market Outlook
The global battery recycling market attained a value of USD 12.22 billion in 2023. The global market for battery recycling is further expected to grow at a CAGR of 7.80% between 2024 and 2032 to reach a value of USD 24.04 billion by 2032.
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Key Trends in the Market
Battery recycling is defined as a process of reusing, reprocessing, or safely disposing of batteries to reduce battery wastage and prevent them from becoming material waste. Different types of batteries have different methods of recycling. Recycling of lithium-ion batteries, which is the most common, involves collection, sorting, and smelting. The main aim of battery recycling is to protect the environment from harmful gases and substances which may come out of a battery as it deteriorates.
- Battery recycling offers greater sustainability, which is a key trend in the market. By recycling and reusing older batteries there is reduced need for mining of new materials to produce new batteries. This process protects natural resources from getting depleted which is a crucial battery recycling market driving factor.
- The growing expansion of the industrial sector is a major trend fuelling the demand for various battery-driven industrial appliances such as electronic bikes, electric wheelchairs, and micro hybrid vehicles, among others. The technical upgradations aimed towards maturing and sophistication of batteries, in order to reduce the production cost, are leading to a stronger supply chain.
- Environmental concern is increasing worldwide, with a greater focus on reducing the disposal of products in landfills. Battery recycling helps prevent used batteries from ending up in landfills, due to which more nations are encouraging adequate battery recycling.
Market Analysis
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Based on chemistry, the market can be segmented into lithium-ion, lead acid, and nickel, among others. On the basis of application, the market can be classified into transportation, consumer electronics, and industrial. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global battery recycling market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- 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
- EnerSys
- Others
Market Share by Chemistry
The lead acid segment, based on chemistry, holds a significant share in the battery recycling market. Lead gives great response to recycling and 90 to 98% of lead-acid batteries can be recovered through the recycling process. In addition, widespread usage of lead-acid based automotive batteries, like starting lighting and ignition (SLI) lead acid batteries, are taking place around the world, increasing their production.
Moreover, lead-acid battery recycling offers various economic and environmental benefits. For instance, recycling lead-acid batteries, comprising of various reusable components, eradicates the need for using fresh raw materials, leading to greater savings on money. Further, lead is harmful and prolonged exposure can cause health damage which is why safe disposal is of greater importance, further broadening the battery recycling market.
Market Share by Application
Based on application, the consumer electronics segment is witnessing a steady growth, due to the increasing demand for lead-acid and lithium-ion batteries in a variety of consumer electronics. The increasing demand for downstream consumer electronic products, such as battery-powered toys, headphones, and handheld power equipment, among others, is fuelling the battery recycling infrastructure.
Meanwhile, the transportation sector is expected to witness a flourishing growth in the forecast period owing to the increasing focus towards electric vehicles to reduce the emission of greenhouse gases. Over the forecast period, the anticipated increase in the number of working professionals opting for public transport systems worldwide is expected to bolster the battery recycling market.
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Competitive Landscape
Umicore is a prominent multinational company which provides expertise in material technology. The company provides metals and other raw materials to cater to the demands from various end use industries. Umicore was founded in the year 1989 and is currently headquartered in Brussels, Belgium, with a workforce of more than 13,000 people.
Ecobat, LLC is a leading company which deals with recycling batteries and producing lead. This company also focusses on providing innovative solutions using efficient, reliable, and sustainable methods. Ecobat, LLC was founded in the year 1938 and is currently headquartered in Texas, United States.
Glencore plc is a prominent manufacturer and marketer of commodities based in Switzerland. The company was founded in the 1970s and it currently comprises of around 60 mining, metallurgical, and oil production assets. Glencore plc manufactures a wide range of metals such as cobalt, nickel, and lead, among others, as well as energy products such as thermal coal and crude oil.
Other market players include 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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Chemistry |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Battery Recycling Market Analysis
8.1 Key Industry Highlights
8.2 Global Battery Recycling Historical Market (2018-2023)
8.3 Global Battery Recycling Market Forecast (2024-2032)
8.4 Global Battery Recycling Market by Chemistry
8.4.1 Lithium-ion
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Lead Acid
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Nickel
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Battery Recycling Market by Application
8.5.1 Transportation
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Consumer Electronics
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Industrial
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Battery Recycling Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Battery Recycling Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Battery Recycling Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Battery Recycling Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Battery Recycling Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Battery Recycling Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Umicore
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Ecobat, LLC
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Glencore plc
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Li-Cycle Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 American Battery Technology Company (ABTC)
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 East Penn Manufacturing
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 RecycLiCo Battery Materials Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Ganfeng Lithium Group Co., Ltd
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Exide Industries Limited
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 EnerSys
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Battery Recycling Market: Key Industry Highlights, 2018 and 2032
2. Global Battery Recycling Historical Market: Breakup by Chemistry (USD Million), 2018-2023
3. Global Battery Recycling Market Forecast: Breakup by Chemistry (USD Million), 2024-2032
4. Global Battery Recycling Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Battery Recycling Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Battery Recycling Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Battery Recycling Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Battery Recycling Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Battery Recycling Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Battery Recycling Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Battery Recycling Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Battery Recycling Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Battery Recycling Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Battery Recycling Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Battery Recycling Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Battery Recycling Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Battery Recycling Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Battery Recycling Market Structure
Key Questions Answered in the Report
The market attained a value of USD 12.22 billion in 2023.
The market is estimated to grow at a CAGR of 7.80% in the forecast period of between 2024 and 2032.
The projected value for the market by 2032 is USD 24.04 billion.
The increasing demand for consumer electronics, burgeoning industrial sector across the emerging economies, and increasing competition between electric and conventional vehicles, are the major drivers of the market.
The key trends in the market include the technical upgradations aimed towards maturing and sophistication of batteries, and advancements in recycling and repurposing technologies for batteries.
Lithium-ion, lead acid, and nickel, among others are the different chemistry types for battery recycling.
Recycling of a lithium-ion battery involves the process of dismantling, shredding, and dissolving.
Yes, recycling batteries such as lead-acid, can be profitable.
Sometime, during the collection and recycling stage, there can be challenges in detecting battery type and components which can cause a problem in the battery recycling process.
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 the battery recycling market, according to the report.
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