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Battery Manufacturing Scrap Recycling Market

Battery Manufacturing Scrap Recycling Market Size, Share & Trends Analysis Report By Application (Automotive, Electronics, Energy and Power, Aerospace and Defense, Construction, Others), By Scrap Source (Automotive Batteries, Industrial Batteries, Consumer Electronics Batteries, Others), By Technology (Hydrometallurgy, Pyrometallurgy, Others), By Region, And By Segment Forecasts, 2024-2031.

Report ID : 2309 | Published : 2024-05-15 | Pages: 180 | Format: PDF/EXCEL

Battery Manufacturing Scrap Recycling Market Size is valued at USD 2.06 Bn in 2023 and is predicted to reach USD 6.92 Bn by the year 2031 at a 16.5% CAGR during the forecast period for 2024-2031.

Key Industry Insights & Findings from the Report:

  • The increasing awareness about scrap recycling as well as demand and consumption of batteries such as lithium-ion in the end-use industries drive the market growth.
  • Rising advancements, investments in recycling technologies as well as electronic industry and government support are expected to drive industry growth.
  • North America dominated the market and accounted for a global revenue share in 2023.
  • The battery recycling industry may encounter significant obstacles as a result of the exorbitant expense of recycling and a dearth of viable options.

Battery Manufacturing Scrap Recycling Market

Battery manufacturing scrap recycling is a rapidly growing business that deals with producing scrap materials created during the battery cell manufacturing process. As electric vehicles become more popular, the market for these batteries is likely to expand dramatically, aiding in the growth of battery manufacturing trash recycling technology. Regardless, many new competitors will enter the market in the next years, increasing competition and driving additional growth and innovation. In the medium term, factors such as falling lithium-ion battery prices and rising concerns about battery waste disposal are expected to boost the battery recycling market throughout the projected period.

However, the COVID-19 epidemic has harmed the global battery recycling sector. This is due to a temporary ban on import, export, and transportation, which has affected the supply chain and battery demand from automotive and consumer electronics manufacturers. Although physical interactions and laboratory operations were restricted, there was an increased demand for digital solutions and virtual research platforms in materials science. MI systems that allow for remote collaboration, data analysis, and virtual experimentation have grown in popularity.

Competitive Landscape

Some Major Key Players In the Battery Manufacturing Scrap Recycling Market:

  • Fortum
  • Brunp Recycling
  • Hydrovolt AS
  • Umicore
  • BASF SE
  • Tenova S.p.A.
  • Duesenfeld
  • Aqua Metals Inc.
  • Green Li-ion Pte Ltd.
  • ACCUREC Recycling GmbH
  • American Battery Technology Company
  • Call2Recycle, Inc.
  • Cirba Solutions
  • Contemporary Amperex Technology Co., Limited
  • East Penn Manufacturing Company
  • Ecobat
  • Element Resources
  • EnerSys
  • Exide Industries Ltd.
  • GEM Co., Ltd.
  • Glencore
  • Gopher Resource
  • Gravita India Limited
  • Li-Cycle Corp.
  • Neometals Ltd.
  • Raw Materials Company
  • RecycLiCo Battery Materials Inc.
  • Redwood Materials Inc.
  • Shenzhen Highpower Technology Co., Ltd.
  • Other prominent players

Market Segmentation:

The Battery Manufacturing Scrap Recycling Market is segmented based on scrap source, recycling technology, and application. Based on scrap sources, the market is segmented as Automotive Batteries, Industrial Batteries, Consumer Electronics Batteries, and Others. The recycling technology segment includes Hydrometallurgy, Pyrometallurgy, and Others. By application, the market is segmented into Hydrometallurgy, Pyrometallurgy, and Others.

Based On Scrap Sources, The Automotive Batteries Segment Is A Major Contributor In The Battery Manufacturing Scrap Recycling Market. 

The Automotive Batteries category is expected to hold a major share of the global Battery Manufacturing Scrap Recycling Market in 2023. Battery Manufacturing Waste Several factors influence the recycling market, particularly in the context of automotive batteries, shaping demand, growth, and innovation in recycling technologies and solutions. Environmental restrictions, government incentives, customer preferences, and sustainability aspirations are pushing the increased number of end-of-life car batteries accessible for recycling. The life cycles of automotive batteries, as well as the requirement for replacement or repurposing, generate a constant supply of wasted batteries, creating the need for recycling to recover valuable materials and reduce environmental effects.

The Automotive Segment Witnessed Rapid Growth.

The automotive segment is more likely to grow at a rapid rate in the global Battery Manufacturing Scrap Recycling Market. Various forces shape the demand, growth, and innovation of recycling technologies and processes in the automotive sector. The growing global use and manufacturing of electric vehicles (EVs), driven by legislative mandates, environmental concerns, technological improvements, and customer preferences, is generating a considerable volume of end-of-life batteries and driving the demand for recycling solutions.

In The Region, The North America Battery Manufacturing Scrap Recycling Market Holds A Significant Revenue Share.

The North America Battery Manufacturing Scrap Recycling Market is expected to record the maximum market revenue share in the near future. This can be attributed to the United States playing a significant role in industry growth. The increased use of lithium-ion batteries in smartphones to extend their shelf life and improve their efficiency is projected to fuel market growth in North America in the coming years. Asia Pacific is likely to generate a sizable portion of income. Asia Pacific is also predicted to have the highest CAGR during the forecast period. Countries like China, India, Australia, and Japan are likely to experience rapid expansion as a result of rising demand from expanding end-use industries, including automotive, consumer electronics, and industrial.

Recent Developments:

  • In May 2023, Li-cycle Holdings Group and Glencore International signed a Letter of Intent to jointly investigate the possibility of, and subsequently build, a Hub facility in Portovesme, Italy, to create crucial battery components such as nickel, cobalt, and lithium from recovered battery content.
  • In Feb 2023, BASF and Tenova Advanced Technologies formed a collaborative partnership to create an effective method for recycling lithium-ion batteries. Both firms have reached an agreement to collaborate on enhancing the hydrometallurgical recycling process, leveraging TAT's cutting-edge method for extracting and manufacturing lithium. This procedure encompasses lithium solvent extraction (LiSX™) and lithium electrolysis (LiEL™).

Battery Manufacturing Scrap Recycling Market Report Scope

Report Attribute

Specifications

Market Size Value In 2023

USD 2.06 Bn

Revenue Forecast In 2031

USD 6.92 Bn

Growth Rate CAGR

CAGR of 16.5 % from 2024 to 2031

Quantitative Units

Representation of revenue in US$ Bn, Volume (KT) and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

By Application, Scrap Source, Technology

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea

Competitive Landscape

Fortum, Brunp Recycling, Hydrovolt AS, Umicore, BASF SE, Tenova S.p.A., Duesenfeld, Aqua Metals Inc., Green Li-ion Pte Ltd., ACCUREC Recycling GmbH, American Battery, Technology Company, Call2Recycle, Inc., Cirba Solutions, Contemporary Amperex Technology Co., Limited, East Penn Manufacturing Company, Ecobat, Element Resources, EnerSys, Exide Industries Ltd., GEM Co., Ltd., Glencore, Gopher Resource, Gravita India Limited, Li-Cycle Corp., Neometals Ltd., Raw Materials Company, RecycLiCo Battery Materials Inc., Redwood Materials Inc., Shenzhen Highpower Technology Co., Ltd., Others

Customization Scope

Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing And Available Payment Methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Battery Manufacturing Scrap Recycling Market Snapshot

Chapter 4. Global Battery Manufacturing Scrap Recycling Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Industry Analysis – Porter’s Five Forces Analysis

4.6. Competitive Landscape & Market Share Analysis

4.7. Technology Advancement in Battery Manufacturing Scrap Recycling Market

4.8. Key Trends in the Market

Chapter 5. Market Segmentation 1: Application Estimates & Trend Analysis

5.1. Application & Market Share, 2019 & 2031

5.2. Market Size (Value US$ Mn and Volume (KT)) & Forecasts and Trend Analyses, 2024 to 2031 for the following Application:

5.2.1. Automotive

5.2.2. Electronics

5.2.3. Energy and Power

5.2.4. Aerospace and Defense

5.2.5. Construction

5.2.6. Others

Chapter 6. Market Segmentation 2: Scrap Source Estimates & Trend Analysis

6.1. Scrap Source & Market Share, 2019 & 2031

6.2. Market Size (Value US$ Mn and Volume (KT)) & Forecasts and Trend Analyses, 2024 to 2031 for the following Scrap Source:

6.2.1. Automotive Batteries

6.2.2. Industrial Batteries

6.2.3. Consumer Electronics Batteries

6.2.4. Others

Chapter 7. Market Segmentation 3: Technology Estimates & Trend Analysis

7.1. Technology & Market Share, 2019 & 2031

7.2. Market Size (Value US$ Mn and Volume (KT)) & Forecasts and Trend Analyses, 2024 to 2031 for the following Technology:

7.2.1. Hydrometallurgy

7.2.2. Pyrometallurgy

7.2.3. Others

Chapter 8. Battery Manufacturing Scrap Recycling Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Application, 2024-2031

8.1.2. North America Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Technology, 2024-2031

8.1.3. North America Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Scrap Source, 2024-2031

8.1.4. North America Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by country, 2024-2031

8.1.4.1. U.S.

8.1.4.2. Canada

8.2. Europe

8.2.1. Europe Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Application, 2024-2031

8.2.2. Europe Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Technology, 2024-2031

8.2.3. Europe Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Scrap Source, 2024-2031

8.2.4. Europe Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) by country, 2024-2031

8.2.4.1. Germany

8.2.4.2. France

8.2.4.3. Italy

8.2.4.4. Spain

8.2.4.5. UK

8.2.4.6. Rest of Europe

8.3. Asia Pacific

8.3.1. Asia Pacific Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Application, 2024-2031

8.3.2. Asia Pacific Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Technology, 2024-2031

8.3.3. Asia Pacific Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Scrap Source, 2024-2031

8.3.4. Asia Pacific Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by country, 2024-2031

8.3.4.1. China

8.3.4.2. India

8.3.4.3. Japan

8.3.4.4. Australia

8.3.4.5. Rest of Asia Pacific

8.4. Latin America

8.4.1. Latin America Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Application, (US$ Million)

8.4.2. Latin America Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Technology, 2024-2031

8.4.3. Latin America Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Scrap Source, (US$ Million)

8.4.4. Latin America Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by country, (US$ Million) 2024-2031

8.4.4.1. Brazil

8.4.4.2. Rest of Latin America

8.5. MEA

8.5.1. MEA Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Application, (US$ Million) 2024-2031

8.5.2. MEA Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Technology, 2024-2031

8.5.3. MEA Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by Scrap Source, 2024-2031

8.5.4. MEA Battery Manufacturing Scrap Recycling Market revenue (US$ Million) and Volume (KT) estimates and forecasts by country, (US$ Million) 2024-2031

8.5.4.1. GCC Countries

8.5.4.2. South Africa

8.5.4.3. Rest of MEA

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. Fortum

9.2.2. Brunp Recycling

9.2.3. Hydrovolt AS

9.2.4. Umicore

9.2.5. BASF SE

9.2.6. Tenova S.p.A.

9.2.7. Duesenfeld

9.2.8. Aqua Metals Inc.

9.2.9. Green Li-ion Pte Ltd.

9.2.10. ACCUREC Recycling GmbH

9.2.11. American Battery Technology Company

9.2.12. Call2Recycle, Inc. 

9.2.13. Cirba Solutions 

9.2.14. Contemporary Amperex Technology Co., Limited

9.2.15. East Penn Manufacturing Company 

9.2.16. Ecobat

9.2.17. Element Resources

9.2.18. EnerSys

9.2.19. Exide Industries Ltd. 

9.2.20. GEM Co., Ltd. 

9.2.21. Glencore 

9.2.22. Gopher Resource

9.2.23. Gravita India Limited 

9.2.24. Li-Cycle Corp. 

9.2.25. Neometals Ltd. 

9.2.26. Raw Materials Company 

9.2.27. RecycLiCo Battery Materials Inc.

9.2.28. Redwood Materials Inc. 

9.2.29. Shenzhen Highpower Technology Co., Ltd.

9.2.30. Other Prominent Player

Segmentation of Battery Manufacturing Scrap Recycling Market-

Battery Manufacturing Scrap Recycling Market By Application-

  • Automotive
  • Electronics
  • Energy and Power
  • Aerospace and Defense
  • Construction
  • Others

Battery Manufacturing Scrap Recycling Market Seg

Battery Manufacturing Scrap Recycling Market By Scrap Source-

  • Automotive Batteries
  • Industrial Batteries
  • Consumer Electronics Batteries
  • Others

Battery Manufacturing Scrap Recycling Market By Technology-

  • Hydrometallurgy
  • Pyrometallurgy
  • Others

Battery Manufacturing Scrap Recycling Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Battery Manufacturing Scrap Recycling Market Size?

Battery Manufacturing Scrap Recycling Market is expected to grow at a 16.5% CAGR during the forecast period for 2024-2031.

Neometals Ltd., Raw Materials Company, RecycLiCo Battery Materials Inc., Redwood Materials Inc., Shenzhen Highpower Technology Co., Ltd., Others

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