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Battery Recycling Market A surge in demand for recycled products is a significant factor driving the market demand.
— Emergen Research
VANCOUVER, BC, CANADA, June 6, 2022 /EINPresswire.com/ —
The global battery recycling market is expected to reach USD 24.57 Billion by 2027, according to a new report by Emergen Research. The battery recycling market is witnessing rapid growth in demand as raw materials such as lithium, nickel, cobalt, and manganese used in the manufacturing of cathode of batteries are limited. In contrast, these materials are witnessing an escalating demand from the end-user verticals, including automotive & transportation, consumer electronics, and various other industries. Besides, the raw materials deployed in the making of batteries are detrimental to the environment. Recycling and reusing the constituents in used batteries further aids in the preservation of natural resources; therefore, propelling the market growth for recycled battery materials.
The report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
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Some Key Highlights from the Report
By type, lead-acid batteries dominated the market in 2019. These batteries are used by several end-users owing to the offering of advantages, including better corrosion & gassing resistance, overcharging, and self-discharge protection, as well as cost and energy efficiency.
By processing state, the extraction of materials held a substantial market size in 2019. The existing recycling rate of batteries very much depends on the type and usage of batteries, along with the availability of technologies for raw material extraction.
By application, consumer electronics contributed to the second-largest market share in 2019. Growing demand for laptops, UPS, and smart devices, among other consumer electronics devices that require batteries for operation and or portability, is driving the demand for battery recycling.
Key Points of Battery Recycling Market:
Extensive coverage of the analysis of the Battery Recycling market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Battery Recycling market
Complete data about the key manufacturers and vendors in the Battery Recycling market
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Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
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Emergen Research has segmented the global battery recycling market on the basis of type, processing state, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Lithium-Based
Nickel-Based
Lead-Acid
Others
Battery Recycling Outlook (Revenue, USD Billion; 2017-2027)
Extraction of Materials
Reuse, Repackaging, & Second Life
Disposal
Application Outlook (Revenue, USD Billion; 2017-2027)
Automotive & Transportation
Consumer Electronics
Industrial
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
US.
Canada
Mexico
Europe
Germany
UK
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
MEA
Saudi Arabia
UAE
Rest of MEA
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Leading Companies of the Battery Recycling Industry and Profiled in the Report are:
Ecobat Logistics, East Penn Manufacturing Company Inc., Gopher Resource LLC, Retriev Technoloies Inc., Battery Solutions Inc., RSR Corporation, Glencore International AG, Fortum Oyj, Call2Recycle Inc., and Doe Run Company, among others.
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Battery Recycling Market Size Worth USD 24.57 Billion by 2027
