The analysts forecast global battery recycling market to grow at a CAGR of 10.96% during the period 2017-2021. During 2016, the lead-acid segment accounted for the highest shares of the global battery recycling market and will continue to lead the market until the end of 2021.
The global battery recycling market analyst says one trend in market is subsides to encourage battery recycling. Lithium-ion batteries are gaining momentum in the global battery market. The gap between standard lead-acid batteries (the oldest battery technology in the battery market) and lithium-ion batteries is drastically reducing. This is owing to numerous features and benefits that lithium-ion batteries provide over standard lead-acid batteries. However, the concern that arises with the extensive use of lithium-ion batteries is the availability of lithium metal worldwide.
The following companies are the key players in the global battery recycling market: Call2Rrecycle, Exide Technologies, Gravita India, and Johnson Controls. Other prominent vendors in the market are: East Penn Manufacturing, ENERSYS, Umicore, Retriev Technologies, G & P Batteries, The Doe Run Company, Gopher Resource, RSR Corporation, Terrapure Environmental, COM2 Recycling Solutions, World Logistics, Aqua Metals, Raw Materials Company, ENGITEC TECHNOLOGIES, and Vinton Batteries.
EMEA dominated the market and will continue to lead the market in the coming years. The growth of this market in the region is attributed to the rise in support from government bodies regarding the implementation of battery recycling processes. These mandates have been introduced to overcome the pollution caused by improper battery disposal. The increasing use of batteries and their improper disposal have increased concerns about soil and water pollution, which will boost the growth of the battery recycling market during the predicted period.
According to the battery recycling market report, one driver in market is widening lithium supply-demand gap. Although there is an adequate amount of lithium resources available globally to cater to the demand, almost 70% of the global lithium reserves are concentrated in South America's ABC (Argentina, Bolivia, and Chile) region. Owing to the sparse accessibility of the raw material (available only in geography) there is an integral risk. Some challenges are likely to influence the lithium supply in the future.
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