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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

  • Report ID: GMI3249
  • Published Date: Mar 2023
  • Report Format: PDF

Industry Statistics

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.

Battery Materials Recycling Market

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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.

Rising adoption of lead batteries for utility energy storage to promote industry statistics

Global Battery Material Recycling Market Revenue Share, By Material

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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.

Surging rate of consumer electronics manufacturing to propel the need for battery materials recycling


Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of battery materials recycling exceeded USD 28 billion in 2022 and is anticipated to register over 8.5% CAGR from 2023 to 2032.

Lead materials are likely to account for more than 51% of the battery materials recycling industry share through 2032 owing to the excellent recyclability associated with lead-based batteries.

Asia Pacific market size is expected to surpass USD 37 billion by 2032 due to the rapid influx in battery recycling funds and initiatives.

Eco bat technologies, G&P Batteries, Exide industries, EnerSys, Gravita India Ltd., Aqua Metals., Gopher Resource, and RSR Corporation. are some of the leading players in the battery materials recycling market.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 207
  • Countries covered: 20
  • Pages: 200
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