Global Battery Materials Recycling Market

Battery Materials Recycling Market Size, Share, Growth Analysis, By Material(Iron, Manganese, Nickel, Lithium), By Application(Automotive, Consumer Goods, Building & Construction, A&D), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15J2073 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 71 | Figures: 75

Battery Materials Recycling Market News

  • 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 Ampere 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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Battery Materials Recycling Market size was valued at USD 24.43 Billion in 2022 and is poised to grow from USD 27 Billion in 2023 to USD 60 Billion by 2031, at a CAGR of 10.50% during the forecast period (2024-2031).

The competitive landscape in the battery materials recycling market is marked by a diverse array of companies vying for market share. These firms are distinguished by their technological expertise, operational efficiency, and sustainability practices. Established players leverage their experience and R&D capabilities to maintain a competitive edge, while newer entrants focus on innovative solutions and streamlined processes. Partnerships with battery manufacturers and strategic collaborations along the recycling value chain are common strategies. 'ACCUREC Recycling GmbH (Germany) ', 'American Battery Technology Company (US) ', 'Aqua Metals, Inc. (US) ', 'Call2Recycle, Inc. (US) ', 'Cirba Solutions (US) ', 'Contemporary Ampere 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)'

Environmental sustainability is a significant driver in the battery materials recycling market. Increasing awareness of the ecological impact of batteries and the desire to reduce resource depletion and minimize electronic waste drive the demand for recycling. Governments, industries, and consumers are increasingly recognizing the importance of responsible battery disposal and recycling as a means to mitigate environmental damage and promote a circular economy.

Growing Emphasis on Closed-Loop Recycling: Closed-loop recycling involves the collection, recycling, and reuse of materials within the same industry, minimizing waste and reducing the need for new raw materials. This trend reflects a commitment to sustainability and circular economy principles, with battery manufacturers and recyclers working together to create a more environmentally responsible and resource-efficient battery supply chain. Closed-loop recycling not only reduces environmental impact but also enhances the economic viability of the battery materials recycling market.

Asia Pacific dominates the battery materials recycling market. This is primarily due to the region's substantial battery manufacturing industry, particularly in countries like China and South Korea, which generates a significant supply of end-of-life batteries. Additionally, the rapid adoption of electric vehicles and renewable energy technologies in Asia Pacific has further boosted the demand for battery materials recycling.

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Global Battery Materials Recycling Market

Report ID: SQMIG15J2073

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