The Battery Material Recycling Market is expected to grow at > 10.0% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Battery Material Recycling Market
Battery Material Recycling Market is likely to witness an impressive CAGR of 10.0% during the forecast period. Major factors such as growing automobile sector, escalating demand for smart devices and electronic gadgets and motor vehicle production, and high demand for Li-ion technology in electric vehicles are expected to fuel the growth of the battery material recycling market during the forecast period.
Asia-Pacific is estimated to account for the largest share of the market with China and India being the growth engines of the regional market during the forecast period. Factors such as China holding the first position with growing battery production and India holding the second position with ramping battery production to meet the demand for elevating domestic motor vehicle production in the regional market are expected to accelerate the battery material recycling market growth over the forecast period. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.
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Market Scope & Market Segmentation
Battery Material Recycling Market Share: By Material Type
Based on the material type, the market is segmented as iron, manganese, nickel, lithium, cobalt, lead, electrolytes, plastics, and others. Lead is projected to account for the largest share of the market during the forecast period owing to its ease of production without causing any reduction in quality. These are majorly extracted from car batteries, industrial fork-lift batteries, UPS batteries, and commercial batteries. Europe and Asia-Pacific are registered as the leading regions in lead recycling. Further, Iron was the second-most recycled material in 2019, which is mainly extracted from nickel cadmium batteries. On the other hand, lithium accounted for a comparatively low share of the battery materials recycling market during the forecast period owing to low weight composition of lithium in Li-ion batteries.
Battery Material Recycling Market Share: By End-User Type
Based on the end-user type, the market is segmented as automotive, consumer goods and electronics, building & construction, aerospace & defense, packaging, textile industry, and others. Consumer goods and electronics is anticipated to account for a significant share of the market during the forecast period. Further, lead being the most recycled material in the process of battery recycling as it is reused in providing backup power in electronic equipment and automobiles for producing new batteries with high energy efficiency and reliability features is expected to fuel the segment’s growth over the forecast period.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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