Battery Materials Recycling Market - By Material (Iron, Manganese, Nickel, Lithium, Cobalt, Lead, Electrolytes, Plastics), By Application (Automotive, Consumer Goods, Building & Construction, A&D, Packaging, Textile Industry) - Global Forecast to 2032

Battery Materials Recycling Market Size

Battery Materials Recycling Market size surpassed USD 28 billion in 2022 and is expected to register over 8.5% CAGR from 2023 to 2032. The surging adoption of Li-ion technology in EVs will accelerate industry growth.
 

The surge in demand for lithium-ion (Li-ion) technologies suitable for electric mobility will foster lucrative business prospects for several battery materials recycling market players. The vehicles (EVs) have gained significant traction as they offer the ability to reduce automobile emissions associated with internal combustion engines (ICE).
 

However, the growing concerns associated with the environmental impacts of battery production have increased the emphasis on effective recycling technologies. The majority of battery materials, particularly metals such as nickel, lithium, manganese, and cobalt can be successfully recovered and recycled. Hence, automobile manufacturers are heavily investing in recycling facilities to reduce the cost of battery production to make EVs more affordable and accessible for consumers.
 

High cost of recycling li-ion batteries may hamper industry growth

Hefty recycling costs associated with li-ion batteries can act as a major roadblock for the battery materials recycling market. Since the recycling process is highly complex and depends on advanced technologies and skilled labor, the process accounts for massive expenditure. Moreover, the recycling of li-ion batteries can be challenging owing to the risk of exposure to hazardous materials and the complex disassembling procedure.
 

Battery Materials Recycling Market Analysis

Lead materials are anticipated to account for more than 51% of the market share by 2032. Lead is a widely used component in the electrodes of lead-acid batteries that reacts with sulfuric acid for the production of electricity. Lead acid batteries offer multiple advantages such as low-cost, high-energy density, and optimum reliability. These battery technologies are exceptionally easier to recycle as compared to Li-ion batteries and are extensively used in automotive batteries, EVs, portable consumer electronics, uninterruptible power supplies, and grid energy storage.

Battery materials recycling market valuation from the consumer goods and electronics industry is likely to grow at 9% CAGR till 2032. Consumer goods and electronics are among the largest consumers of battery materials considering their extensive application in laptops, smartphones, and a wide range of other electronics. Due to rapid urbanization, increasing disposable incomes, and the growing popularity of smart battery-powered home appliances, the consumption of consumer electronics has increased dramatically. As per the electronics manufacturing target report by the Ministry of Electronics & IT, India aims to boost its electronics manufacturing to USD 300 billion by 2026.
 

Asia Pacific battery materials recycling market is estimated to surpass USD 37 billion by 2032 owing to the strong presence of leading electronic device companies, EV makers, and battery manufacturers in the region. In the recent past, APAC countries such as India, China, Japan, and South Korea have emerged as key hubs in the space of smart appliances, consumer electronics, and next-generation EVs. Moreover, these countries are implementing new initiatives including incentives and regulations to encourage the shift towards battery recycling and sustainability.
 

Battery Materials Recycling Market Share

Some of the leading companies in the global battery materials recycling market include Johnson Controls International plc, Battery Solutions LLC, East Penn Manufacturing Company, Eco bat technologies, G&P Batteries, Retriev Technologies Inc., Umicore N.V., Exide industries, EnerSys, Call2Recycle, Inc., Gravita India Ltd., Aqua Metals., Gopher Resource, Terrapure Environmental, RSR Corporation. These industry players are foraying into strategic partnerships and collaborations to boost their battery recycling output.
 

Impact of COVID-19 Pandemic

The COVID-19 pandemic had a significant impact on the battery materials recycling industry with the dramatic drop in automotive production and delays with the shutting down of manufacturing units and recycling facilities. Due to stringent lockdowns imposed by nations worldwide, leading automakers and EV manufacturers struggled to maintain their production levels. However, the growing supply-demand gap and massive supply chain disruptions increased the interest of manufacturers in vertical integration and in-house battery lifecycle.
 

This battery materials recycling market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments:

Click here to Buy Section of this Report

By Material

• Iron
• Manganese
• Nickel
• Lithium
• Cobalt
• Lead
• Electrolytes
• Plastics
• Others

By End User

• Automotive
• Consumer goods and electronics
• Building & construction
• Aerospace & defense
• Packaging
• Textile industry
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Thailand
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Kuwait
  • UAE