Research Reports
Battery Recycling Market to reach US$ 8 Bn by 2027
Battery Recycling Market to reach US$ 8 Bn by 2027
Published by TMR Research Insights
Posted on August 13, 2021
Global Banking and Finance Review
Company
Published by TMR Research Insights
Posted on August 13, 2021
Battery recycling refers to the process of reprocessing and reuse practice of batteries with the aim of diminishing the number of batteries being thrown away as waste material. Batteries come with many heavy metals and toxic chemicals. Simple dumping of batteries as waste has garnered environmental concerns owing to contamination of soil and water. Hence, batteries are required to be recycled to comply with the health and environment regulations as laid down to diminish damage to the environment and living beings. This factor is likely to encourage growth of the global battery recycling market in the years to come.
The rules and laws pertaining to the recycling and disposal of spent batteries vary from one country to another, from one local government to another. In addition, rising government regulations and directives to bring down level of pollution and keeping emission of greenhouse gases under check is likely to propel growth of the global battery recycling market over the tenure of assessment.
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Almost all of the batteries can be recycled, however certain types of batteries can be recycled in a much easier way than other types. A case in point is lead batteries, which is 99% recyclable and is mostly due to the toxicity level of lead and value of lead. In addition to lead, other types of batteries that are recyclable are lithium-ion (Li-ion), nickel metal hydride (Ni-MH), nickel–zinc (Ni-Zn), nickel–cadmium (Ni-Cd), and lithium-ion.
Request for Covid-19 Impact Analysis on Battery Recycling Market:
Benefits of battery recycling are many, some of which are
Buy our Premium Research Report on Battery Recycling Market@
In a bid to regulate environmental hazards during the manufacturing and disposal of battery, governments have laid down various regulations, which is encouraging the growth of the global battery recycling market in the years to come.
Environmental degradation continues to be a major concern across various industries. The electric transportation sector continues to witness significant growth across the world due to which, there is a spur in demand for lithium-ion batteries. In future, a significantly large number of lithium-ion batteries are expected to retire, which, in turn, is likely to have a negative impact on the environment. The battery recycling market is thus, expected to witness significant developments in the upcoming years. A shift in tide within the automotive sector and growing influx of electric vehicles will play an important role in boosting the prospects of the battery recycling market. At present, disposal of lithium-ion batteries continues to add to the mounting environmental concerns.
Despite significant efforts being made to improve the efficiency, safety, and energy density of lithium-ion batteries, emphasis on recycling lithium-ion batteries is anticipated to gain considerable momentum. In the current scenario, technological innovations coupled with government initiatives are some of the key factors that are influencing the growth of the market for battery recycling. Moreover, notable progress in recycling technologies, changes in recycling processes, and positive effects of recycling on the environment are some of the other factors that will continue to drive the battery recycling market during the forecast period.
Recycling of Lithium-ion Batteries to Gain Momentum Worldwide
Since its introduction, the adoption of lithium-ion batteries has increased at a rapid pace. Automotive and the electronic sectors are arguably the biggest winners of this groundbreaking discovery. However, over the past decade, renewable energy and electric vehicles have come under the spotlight fueled by the success of lithium-ion batteries.
At present, within the battery recycling market, a significant amount of resources are being invested to discover new technologies that streamline the process of recycling batteries. The battery recycling market is expected to witness significant growth in the forthcoming years, as awareness regarding the benefits of battery recycling continues to grow. At present, China is leading the way as far as recycling of lithium-ion batteries is concerned; interest in battery recycling is gaining pace in other regions across the world. Within the battery recycling market, the development of battery recycling technologies has increased, as more number of players are entering the market anticipating lucrative growth opportunities.
Despite the soaring interest in battery recycling from the automotive sector, interest for battery recycling from battery material miners is on the rise. Battery material miners are increasingly investing in research and development, as their current technologies are ideal and adaptive to the recycling processes. The swelling interest in battery recycling from the mining sector is another factor that is expected to contribute to the growth of the battery recycling market during the assessment period.
Environmental concerns coupled with a push for a sustainable future have driven government bodies across the world to invest in new recycling facilities, particularly in the Asia Pacific region. The battery recycling market is expected to flourish in the Asia Pacific region, due to rise in investments, entry of multiple e-waste management startups, government initiatives to safeguard the environment, and incentive structures for participants involved in the battery recycling market. Moreover, several new battery recycling facilities are opening up, which are likely to boost the growth of the battery recycling market in the assessment period.
For instance, in October 2019, TES, one of the largest players involved in the e-waste recycler space, unveiled plans of opening a new battery recycling facility in Singapore due to a significant rise in the adoption of grid-related energy storage. With the onset of such facilities, valuable metals can be recycled and reused again, thus enabling battery manufacturers to develop new products for electric vehicles and cell phones. Apart from Singapore, China is likely to emerge as the gold mine for players involved in the battery recycling market, as China continues to witness a significant surge in the number of electric vehicles.
Analysts’ Viewpoint
The battery recycling market is expected to expand at a CAGR of ~10% during the forecast period. This can be attributed to the growing environmental concerns, consistent rise in the number of retired lithium-ion batteries, favorable government policies, and development of new battery recycling facilities worldwide, particularly in the Asia Pacific and Europe. Participants involved in the current battery recycling market should focus on striking a chord with local government bodies to create awareness regarding battery recycling and formulate new growth strategies. While government initiatives will continue to drive the growth of the market for battery recycling, an influx of a large number of e-waste management companies is anticipated during the assessment period.
Asia Pacific to Dominate Battery Recycling Market
Highly Competitive Battery Recycling Market
Energy & Natural Resources-Industry battles Tangible Impact of Economic and Cultural changes, Stay Updated on the Latest Trends in Energy & Natural Resources -market@
https://www.transparencymarketresearch.com/energy-market-reports-3.html
About Us
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Follow Us: Twitter | LinkedIn
Blog: https://tmrblog.com
Battery recycling refers to the process of reprocessing and reuse practice of batteries with the aim of diminishing the number of batteries being thrown away as waste material. Batteries come with many heavy metals and toxic chemicals. Simple dumping of batteries as waste has garnered environmental concerns owing to contamination of soil and water. Hence, batteries are required to be recycled to comply with the health and environment regulations as laid down to diminish damage to the environment and living beings. This factor is likely to encourage growth of the global battery recycling market in the years to come.
The rules and laws pertaining to the recycling and disposal of spent batteries vary from one country to another, from one local government to another. In addition, rising government regulations and directives to bring down level of pollution and keeping emission of greenhouse gases under check is likely to propel growth of the global battery recycling market over the tenure of assessment.
Strong expertise with attention to detail makes our market research reports stand apart. Download PDF Brochure –
Almost all of the batteries can be recycled, however certain types of batteries can be recycled in a much easier way than other types. A case in point is lead batteries, which is 99% recyclable and is mostly due to the toxicity level of lead and value of lead. In addition to lead, other types of batteries that are recyclable are lithium-ion (Li-ion), nickel metal hydride (Ni-MH), nickel–zinc (Ni-Zn), nickel–cadmium (Ni-Cd), and lithium-ion.
Request for Covid-19 Impact Analysis on Battery Recycling Market:
Benefits of battery recycling are many, some of which are
Buy our Premium Research Report on Battery Recycling Market@
In a bid to regulate environmental hazards during the manufacturing and disposal of battery, governments have laid down various regulations, which is encouraging the growth of the global battery recycling market in the years to come.
Environmental degradation continues to be a major concern across various industries. The electric transportation sector continues to witness significant growth across the world due to which, there is a spur in demand for lithium-ion batteries. In future, a significantly large number of lithium-ion batteries are expected to retire, which, in turn, is likely to have a negative impact on the environment. The battery recycling market is thus, expected to witness significant developments in the upcoming years. A shift in tide within the automotive sector and growing influx of electric vehicles will play an important role in boosting the prospects of the battery recycling market. At present, disposal of lithium-ion batteries continues to add to the mounting environmental concerns.
Despite significant efforts being made to improve the efficiency, safety, and energy density of lithium-ion batteries, emphasis on recycling lithium-ion batteries is anticipated to gain considerable momentum. In the current scenario, technological innovations coupled with government initiatives are some of the key factors that are influencing the growth of the market for battery recycling. Moreover, notable progress in recycling technologies, changes in recycling processes, and positive effects of recycling on the environment are some of the other factors that will continue to drive the battery recycling market during the forecast period.
Recycling of Lithium-ion Batteries to Gain Momentum Worldwide
Since its introduction, the adoption of lithium-ion batteries has increased at a rapid pace. Automotive and the electronic sectors are arguably the biggest winners of this groundbreaking discovery. However, over the past decade, renewable energy and electric vehicles have come under the spotlight fueled by the success of lithium-ion batteries.
At present, within the battery recycling market, a significant amount of resources are being invested to discover new technologies that streamline the process of recycling batteries. The battery recycling market is expected to witness significant growth in the forthcoming years, as awareness regarding the benefits of battery recycling continues to grow. At present, China is leading the way as far as recycling of lithium-ion batteries is concerned; interest in battery recycling is gaining pace in other regions across the world. Within the battery recycling market, the development of battery recycling technologies has increased, as more number of players are entering the market anticipating lucrative growth opportunities.
Despite the soaring interest in battery recycling from the automotive sector, interest for battery recycling from battery material miners is on the rise. Battery material miners are increasingly investing in research and development, as their current technologies are ideal and adaptive to the recycling processes. The swelling interest in battery recycling from the mining sector is another factor that is expected to contribute to the growth of the battery recycling market during the assessment period.
Environmental concerns coupled with a push for a sustainable future have driven government bodies across the world to invest in new recycling facilities, particularly in the Asia Pacific region. The battery recycling market is expected to flourish in the Asia Pacific region, due to rise in investments, entry of multiple e-waste management startups, government initiatives to safeguard the environment, and incentive structures for participants involved in the battery recycling market. Moreover, several new battery recycling facilities are opening up, which are likely to boost the growth of the battery recycling market in the assessment period.
For instance, in October 2019, TES, one of the largest players involved in the e-waste recycler space, unveiled plans of opening a new battery recycling facility in Singapore due to a significant rise in the adoption of grid-related energy storage. With the onset of such facilities, valuable metals can be recycled and reused again, thus enabling battery manufacturers to develop new products for electric vehicles and cell phones. Apart from Singapore, China is likely to emerge as the gold mine for players involved in the battery recycling market, as China continues to witness a significant surge in the number of electric vehicles.
Analysts’ Viewpoint
The battery recycling market is expected to expand at a CAGR of ~10% during the forecast period. This can be attributed to the growing environmental concerns, consistent rise in the number of retired lithium-ion batteries, favorable government policies, and development of new battery recycling facilities worldwide, particularly in the Asia Pacific and Europe. Participants involved in the current battery recycling market should focus on striking a chord with local government bodies to create awareness regarding battery recycling and formulate new growth strategies. While government initiatives will continue to drive the growth of the market for battery recycling, an influx of a large number of e-waste management companies is anticipated during the assessment period.
Asia Pacific to Dominate Battery Recycling Market
Highly Competitive Battery Recycling Market
Energy & Natural Resources-Industry battles Tangible Impact of Economic and Cultural changes, Stay Updated on the Latest Trends in Energy & Natural Resources -market@
https://www.transparencymarketresearch.com/energy-market-reports-3.html
About Us
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Follow Us: Twitter | LinkedIn
Blog: https://tmrblog.com
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