India has registered itself as the fourth largest automobile sales country with sales figure of 4.02 million in 2017 due increasing middle class and young population in the country. The other regions seeking a high growth potential for Battery Materials Recycling Market is North America which is completely attributable strict government regulations related to recycling of dead batteries. For instance, In USA, federal law sates that used batteries like nickel cadmium and lead batteries will be managed as Universal waste (40 CFR Part 273). The rule prohibits consumers from disposing dead batteries and indicates that these batteries must undergo recycling. Supported by a flourishing automobile sector in emerging Asian countries like China and Japan Asia pacific has emerged as the highest growth market for battery material recycling.
Flourishing demand for electronic gadgets and smart devices with the robust growth across communication, entertainment, and information technology sectors is the major factor driving battery materials recycling market. Growing adoption of energy efficient devices such as laptops, tablets, sensors, smart phones requires batteries for power generation and the thrust for premium electronic gadgets has escalated the manufacturing of batteries which in turn is uplifting the overall market. Asian countries like Singapore, Japan, Taiwan, China and South Korea are the key influencer of electronics market, this is attributed to technological advancements and increasing economic growth of nations.
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Lead has emerged as the most recycled battery material accounting for over 50% as compared to other materials like iron, nickel, cobalt, plastic, lithium etc. The high recycling rates of lead is supported by paltry loss of quality during recycling process, as lead can be re-melted any number of times and the final product is indistinguishable from primary lead produced from ore provided proper treatment process is done. Also, lead recycling has a positive contribution towards environment because of the process being energy efficient, it reduces dispersal of lead in the environment and conserves mineral resources for the future.
Battery materials recycling market is hugely influenced by growing automotive industry across the globe supported by the rising wave for electric vehicle that is reshaping the global automobile sector. The worldwide electric vehicle sales were 1.1 million in 2017 and is even expecting a higher growth rate in future due to stringent government policies to shift towards a greener environment. Strengthened by the growth of Evs worldwide, lithium ion batteries are expected to follow an uplifting manufacturing trend with production capacity growing from 131 GWh in 2019 to 400 GWh by 2021 which in turn will trigger the demand for recycling of such batteries.
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Battery materials recycling market is highly competitive with the presence of several small- and large-scale players in market. Few players engaged in the business of battery recycling are:
- Johnson controls
- Aqua Metals
- G&P Batteries
- Battery solutions
- Eco-Bat technologies
Aqua Metals has reinvented its lead recycling process with AquaRefining technology for smelter less recycling of lead batteries.
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