The latest report published by IMARC Group, titled “Battery Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the battery recycling market growth rate. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global battery recycling market size reached US$ 15.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 29.9 Billion by 2032, exhibiting a growth rate (CAGR) of 7.2% during 2024-2032.
Battery Recycling Market Overview:
Battery recycling is a critical process that involves collecting, reprocessing, and reusing discarded batteries to minimize environmental impact and conserve valuable resources. Batteries, which are used in various devices and applications, can contain hazardous materials, such as lead, cadmium, and mercury, making their proper disposal essential for environmental safety. Recycling batteries prevents the release of toxic chemicals and heavy metals into the environment, reducing soil and water pollution. It helps mitigate the negative effects of battery waste on ecosystems and human health. Battery recycling typically involves sorting batteries by type and chemistry, dismantling them to extract valuable materials, and then processing and refining these materials for reuse in new battery manufacturing or other industries. Some recycling methods also involve recovering energy from the combustion of non-reusable materials.
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Battery Recycling Market Trends:
The global market is primarily driven by the increasing proliferation of batteries across various industries, including consumer electronics, electric vehicles (EVs), and renewable energy storage. As the adoption of battery-powered devices and technologies continues to rise, there is a corresponding need for efficient and sustainable battery recycling solutions. Besides, governments and regulatory bodies are imposing stricter regulations on battery disposal and encouraging recycling to minimize the ecological impact. This has created a favorable environment for battery recycling companies. Furthermore, the rise of electric vehicles, in particular, is augmenting demand for battery recycling. EV batteries have a finite lifespan, and recycling offers a way to extract valuable materials like lithium, cobalt, and nickel, reducing the need for new mining and lowering the overall environmental footprint of these vehicles.
Competitive Landscape:
- Accurec Recycling GmbH
- Aqua Metals
- Battery Solutions
- Call2Recycle Inc.
- Eco-Bat Technologies
- Enersys
- Exide Technologies
- G. & P. Batteries Limited
- Gravita India Limited
- Johnson Controls
- Retriev Technologies Inc.
- Umicore
Battery Recycling Market Segmentation:
Type Insights:
- Lead-acid Batteries
- Nickel-based Batteries
- Lithium-based Batteries
- Others
Source Insights:
- Industrial
- Automotive
- Consumer Products
- Electronic Appliances
- Others
End-Use Insights:
- Reuse
- Repackaging
- Extraction
- Others
Material Insights:
- Manganese
- Iron
- Lithium
- Nickel
- Cobalt
- Lead
- Aluminium
- Others
Regional Insights:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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