The
global Battery
Recycling Market is projected to grow from USD 8.10 billion in 2016 to
USD 11.83 billion by 2022, at a CAGR of 6.5% from 2017 to 2022. Depletion
of earth metals and stringent environmental regulations by the local and
national governments are expected to drive the battery recycling market. Subsidies
to encourage battery recycling and growing number of hybrid and electric
vehicle batteries could provide growth opportunities for the battery recycling market
in the coming years.
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The lead-acid battery
chemistry segment dominated the battery recycling market
in 2016 and is also expected to witness high growth during the forecast period.
This growth can be attributed to the increased demand from Europe, North
America, and Asia-Pacific regions.
The
increasing demand from developing countries in Asia-Pacific and South &
Central America is also expected to boost the growth of the battery recycling
market. The growing global population is expected to fuel the demand for
passenger cars, which, in turn, is expected to drive the battery recycling
market.
Based on source, the automotive segment is expected to witness the
highest growth during the forecast period, in terms of value. This source
accounts for the highest output of spent lead acid batteries in all the
regions.
The increasing use of automobiles and growing number of government
regulations to recycle the batteries have fueled the global demand for battery
recycling market. The growth in demand is particularly high in the emerging
regions such as Asia-Pacific for automobile batteries.
Automotive source is evolving as the most suitable battery source
for battery recycling as batteries used in automobiles are the most commonly
used type of batteries and 99% of the lead content of these batteries is
recyclable.
Europe dominated the battery recycling market in 2016, in terms of
value. In Europe, the battery recycling market in Germany is projected to
witness the highest growth between 2017 and 2022. The battery recycling market
has developed rapidly owing to enforcement of stringent environmental
regulations.
In 2016, Call2Recycle, Inc.
(U.S.) was one of the leading recycler of spent batteries, followed by Battery
Solutions, LLC (U.S.), Exide Technologies (U.S.), Gravita India Ltd. (India),
and Johnson Controls Inc. (U.S.). Since 1996,
Call2Recycle has diverted over 100 million pounds of batteries and cellphones
from the solid waste stream and established a network of 34,000 collection
sites throughout the U.S.
and Canada.
Battery Solutions, LLC (U.S.) is engaged with
the environmentally conscious corporations, governments, municipalities, and
households across the North America to collect spent batteries. The company
recycles varied types of batteries, from portable batteries to large industrial
batteries such as the ones used in cars and data centers.
Exide is among the leading battery recyclers and
has designed its Total Battery Management (TBM) program as an integrated
approach to manufacture, distribute, and recycle lead-acid batteries. The TBM program
also frees the customers from the regulatory burdens of handling spent
batteries and keeps recyclable materials in the manufacturing stream instead of
landfills.
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There are a few more companies that are working in
the battery recycling market. These
include Aqua Metals (U.S.), Umicore (Belgium), EnerSys (U.S.), Teck Resources
Ltd. (Canada), Gopher Resource (U.S), G&P Batteries (U.K.), Terrapure
Environmental (Canada), East Penn Manufacturing Co. (U.S.), Retriev
Technologies Inc. (U.S.), Com2 Recycling Solutions (U.S.), RSR Corporation
(U.S.), Doe Run (U.S.), Raw Materials Company Inc. (Canada), World Logistics
Inc. (U.S.), Guangdong Brunp Recycling Technology Co., Ltd, (China), Metalex
Products Ltd. (Canada), Accurec Recycling GmbH (Germany), Tonolli Canada, Ltd.
(Canada), Kinsbursky Brothers, Inc. (U.S.), Recupyl S.A.S. (France), and Vinton
Batteries (U.K.).
Reference:
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