Battery Recycling Market worth $54.3 billion by 2030 – At a CAGR of 10.5%

The According to a market research report, the Battery Recycling Market by Source (Automotive Batteries, Industrial Batteries, Consumer & Electronic Appliance Batteries), Chemistry (Lead Acid, Lithium-based, Nickel-based), Material (Metals, Electrolyte, Plastics) and Region – Global Forecast to 2030″, is projected to grow from USD 26.9 billion in 2023 to USD 54.3 billion by 2030, at a CAGR of 10.5%. Consumer awareness regarding resource conservation and sustainability is driving the growth of the market.

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• 120 Market data Tables
• 40 Figures
• 150 Pages and in-depth TOC on “Battery Recycling Market – Global Forecast to 2030”

This report also provides a comprehensive analysis of the companies listed below:

The major players operating in the battery recycling market include ACCUREC Recycling GmbH (Germany), American Battery Technology Company (US), Aqua Metals, Inc. (US), Call2Recycle, Inc. (US), Cirba Solutions (US), Contemporary Amperex Technology Co., Limited (China), East Penn Manufacturing Company (US), Ecobat (US), Element Resources (US), EnerSys (US), Exide Industries Ltd. (India), Fortum (Finland), GEM Co., Ltd. (China), Glencore (Switzerland), Gopher Resource (US), Gravita India Limited (India), Li-Cycle Corp. (Canada), Neometals Ltd. (Australia), Raw Materials Company (Canada), RecycLiCo Battery Materials Inc. (Canada), Redwood Materials Inc. (US), Shenzhen Highpower Technology Co., Ltd. (China), Stena Recycling (Sweden), TES (Singapore), Terrapure (Canada), The Doe Run Company (US), The International Metals Reclamation Company (US), and Umicore (Belgium), and others.

Recent Developments in Battery Recycling Market

• In April 2023, Cirba Solutions signed a Memorandum of Understanding (MoU) with Honda to collect, process, and return recycled battery materials to be used as raw material for Honda’s battery supply chain for application in future EV batteries.
• In February 2023, Contemporary Amperex Technology Co., Limited, Mercedes-Benz, and GEM Co., Ltd. signed a memorandum of understanding for the recycling of cobalt, nickel, manganese, and lithium metals from spent EV batteries of Mercedes-Benz and remanufacture them into battery cathode materials.
• In January 2023, Aqua Metals, Inc. announced its plans to develop a lithium battery recycling facility in Nevada (US), which can process more than 20 million pounds of lithium-ion batteries per year.

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Based on source, the automotive batteries segment is projected to be the fastest-growing segment during 2023 to 2030. Lithium-ion batteries are largely used in the automotive industry which comprises various companies involved in the design, manufacture, development, and marketing of electric vehicles. Valuable metals including lithium, cobalt, nickel, and other rare earth elements are found in automotive batteries. These minerals can be recovered through recycling, which lowers the demand for new mining operations and preserves natural resources, thus fueling the growth of this segment.

Based on chemistry, the lithium-based batteries segment is projected to be the fastest-growing segment during 2023 to 2030. The growing number of portable electronic devices such as smartphones, tablets, laptops, and other handheld gadgets has increased the demand for robust batteries with extended life span. Lithium-ion batteries are suitable for portable electronics since they are lightweight and have a high energy density. The rapid growth in portable electronics sectors, coupled with the increasing demand for lithium-based batteries, drives the need for efficient and sustainable recycling solutions to manage the end-of-life batteries.

Based on region, Europe is projected to be the fastest-growing region for battery recycling market during 2023 to 2030. The rising output of spent batteries from various end-use applications such as automotive, industrial, and marine is leading to the growth of the Europe battery recycling market. Stringent environmental regulations for the proper disposal and recycling of batteries in economies such as Norway and France are also among factors expected to drive the European market during the forecast period.

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