The Battery
Recycling Market Global Industry Report was valued at USD 8.10 billion
in 2016 and is projected to reach USD 11.83 billion by 2022, at a CAGR of 6.5%
from 2017 to 2022.
The market is expected to witness growth in the coming
years, owing to the large number of batteries in-use and strong demand from the
replacement market. Extraction of the used battery for its raw materials
coupled with the stringent environmental regulations imposed by the local and
national governments has spurred growth in the battery recycling market.
Stringent government regulations, rising prices of metals
and increasing demand for Energy Storage System is incentizing battery
recycling, the market for recycling is expected to reach around USD 12 billion
by 2022
Battery recycling is the reuse and reprocessing activity of
spent batteries that aims to reduce the number of spent batteries being
disposed of as municipal solid waste or material waste. Batteries contain
several toxic chemicals and heavy metals and disposing them off as trash has
raised environmental and health concerns over water pollution and soil
contamination. Leading battery recycling companies includes Call2Recycle, Aqua
Metals, and Umicore among others. Europe is the largest market for battery recycling
due to the presence of stringent regulations in this region.
Stringent government regulations to control environmental
hazards during battery manufacturing and disposal are driving the growth of the
battery recycling market. Industry experts and key decision makers of the
governments in many countries are stressing the need for systematic approaches
for the recycling of batteries to achieve the higher recycling rates.
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The laws and regulations pertaining to the disposal and
recycling of spent batteries vary from country to country as well as local
governments. Globally, the increasing government directives and regulations to
curb pollution levels and controlling the greenhouse gas emissions will provide
momentum to drive the battery recycling market.
Extracting useful
materials from the used batteries can help in regulating the price of new battery
Automotive Batteries
An automotive battery is an indispensable component of the
powertrain of a vehicle, independent of the fuel used for its operation. It is
used to power the electrical systems of the vehicle when the engine is turned
off. It is also used to start the engine and to provide current for the
ignition system and electric starter motor. The energy from the battery is also
utilized when the electric requirement of the vehicle exceeds its alternator’s
capacity. Majority of the vehicles use a 12V lead acid battery for these
applications.
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