Battery Recycling Market Report 2024 (Global Edition)

Global Battery Recycling Market Report 2024 Market Size Split by Recycling process (Hydrometallurgical Process, Pyrometallurgical Process, Lead Acid Battery Recycling Process, Lithium-ion Battery Rec...

Battery Recycling Market Report Description

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Competitive Landscape of the Battery Recycling Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Battery Recycling Industry News

In September 2023, Dragonfly Energy Successfully Manufactures Lithium Battery Cell Using High-Purity Recycled Battery Materials from Aqua Metals. This proof of concept is another milestone in the commitment of Dragonfly Energy and Aqua Metals to help create a closed lithium loop in Nevada, in which lithium battery material sourcing, manufacturing, and recycling all happen within the state.

(Source: https://ir.aquametals.com/press-releases/detail/280/dragonfly-energy-successfully-manufactures-lithium-battery/

In July 2023, OPzV Vs. OPzS: Exploring The Differences And Finding The Perfect Battery Solution. Batteries play a key role in ensuring a sustainable and reliable supply of electricity. OPzV and OPzS batteries are two widely used and well respected battery technologies. These deep cycle batteries are known for their durability, long life and excellent performance in harsh conditions.

(Source: https://www.songligroup.com/news/introducing-the-opzv-battery-an-unrivaled-power-solution-for-all-your-energy-needs/)

Top Companies Market Share in Battery Recycling Industry: (In no particular order of Rank)

• ACCUREC Recycling GmbH (Germany)
• American Battery Technology Company (US)
• Aqua Metals Inc (US)
• Call2Recycle Inc (US)
• Cirba Solutions (US)
• Contemporary Amperex Technology Co. Limited (China)
• East Penn Manufacturing Company (US)
• Ecobat (US)
• Element Resources (US)
• EnerSys (US)
• Exide Industries Ltd (India)
• Fortum (Finland)
• GEM Co. Ltd (China)
• Glencore (Switzerland)
• Gopher Resource (US)
• Gravita India Limited (India)
• Li-Cycle Corp. (Canada)
• Neometals Ltd. (Australia)
• Raw Materials Company (Canada)
• RecycLiCo Battery Materials Inc. (Canada)
• Redwood Materials Inc. (US)
• Shenzhen Highpower Technology Co Ltd (China)
• Stena Recycling (Sweden)
• TES (Singapore)
• Terrapure (Canada)
• The Doe Run Company (US)
• The International Metals Reclamation Company (US)
• Umicore (Belgium)
• Others 
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional analysis of the Battery Recycling Market

Which Region will dominate the Battery Recycling Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. This prominence can be attributed to several factors, including the region's robust regulatory framework promoting responsible waste management and recycling practices. Additionally, heightened environmental awareness among consumers and businesses in North America has spurred the demand for sustainable solutions, driving investment in battery recycling infrastructure and technology. Moreover, the region's significant market share reflects the widespread adoption of battery-powered technologies across various sectors, including automotive, electronics, and renewable energy.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific region is witnessing an increase in the Hydrometallurgical Process category. The rapid industrialization and urbanization across Asia Pacific have led to a surge in the consumption of battery-powered devices, including electric vehicles, consumer electronics, and energy storage systems. As a result, there is a growing need for efficient and environmentally friendly methods to recycle end-of-life batteries. The hydrometallurgical process offers advantages such as higher recovery rates of valuable metals, lower energy consumption, and reduced environmental impact compared to traditional pyrometallurgical methods.

The current report Scope analyzes Battery Recycling Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Battery Recycling Market

According to Cognitive Market Research, the global Battery Recycling Market size was estimated at USD 27812.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 11124.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031. In North America, Hydrometallurgical Process maintained a dominant market share throughout the forecast period, primarily propelled by several key drivers. This dominance is primarily attributed to its effectiveness in recovering valuable metals from used batteries, including lithium, cobalt, nickel, and rare earth elements. Unlike traditional pyrometallurgical methods, the hydrometallurgical process utilizes chemical solutions to dissolve and separate metals from battery components, offering several advantages such as higher recovery rates, lower energy consumption, and reduced environmental impact. 

• According to Cognitive Market Research, the US had a major share in the Battery Recycling Market with a market size of USD 8777.53 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. Several factors contribute to this growth trajectory, including stringent environmental regulations promoting responsible waste management practices, increasing awareness among consumers and businesses regarding the importance of recycling, and the rising demand for raw materials used in batteries, driven by sectors such as electric vehicles, consumer electronics, and renewable energy storage.
• The Canada Battery Recycling Market had a market share of USD 1334.99 million in 2024 and is projected to grow at a CAGR of 9.8% during the forecast period. This growth is driven by several factors contributing to the increasing demand for battery recycling services in Canada. The expanding adoption of battery-powered technologies across various sectors, including automotive, electronics, and renewable energy, has resulted in a higher volume of end-of-life batteries requiring recycling services.
• The Mexico Battery Recycling Market is projected to grow at a CAGR of 9.5% during the forecast period, reaching a market size of USD 1012.36 million in 2024.

Europe Battery Recycling Market

According to Cognitive Market Research, with a market value of USD 27812.2 million in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 8343.66 million. Pyrometallurgical Process maintained a dominant market share throughout the forecast period, primarily propelled by several key drivers. This growth trajectory is primarily fuelled by several key factors driving its adoption and utilization. Firstly, the Pyrometallurgical Process offers distinct advantages in terms of scalability and cost-effectiveness, particularly for the treatment of certain types of batteries, such as lead-acid batteries. By subjecting batteries to high temperatures in controlled environments, this method facilitates the recovery of valuable metals through smelting and refining processes.

• The United Kingdom Battery Recycling Market had a market share of USD 1401.73 million in 2024 and is projected to grow at a CAGR of 10.1% during the forecast period. Heightened awareness among consumers and businesses regarding the environmental impact of battery disposal has spurred increased demand for recycling services.
• The French Battery Recycling Market is projected to grow at a CAGR of 8.5% during the forecast period, reaching a market size of USD 767.62 million in 2024.
• According to Cognitive Market Research, the German Battery Recycling Market was valued at USD 1652.04 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period. Germany's leadership in technological innovation and industrial expertise positions it as a hub for advancements in recycling technologies and infrastructure.
• The Italy Battery Recycling Market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 717.55 million in 2024.
• The Russian Battery Recycling Market is projected to witness growth at a CAGR of 8.3% during the forecast period, with a market size of USD 1293.27 million in 2024.
• The Spanish Battery Recycling Market is projected to grow at a CAGR of 8.4% during the forecast period, reaching a market size of USD 684.18 million in 2024.
• The Luxembourg Battery Recycling Market is projected to grow at a CAGR of 6.8% during the forecast period, reaching a market size of USD 258.65 million in 2024.
• The Portugal Battery Recycling Market is projected to grow at a CAGR of 9.1% during the forecast period, reaching a market size of USD 175.22 million in 2024.
• The Greece Battery Recycling Market is projected to witness growth at a CAGR of 9.6% during the forecast period, with a market size of USD 100.12 million in 2024.
• The rest of Europe's Battery Recycling Market is projected to grow at a CAGR of 8.0% during the forecast period, reaching a market size of USD 1293.27 million in 2024.

Asia Pacific Battery Recycling Market

According to Cognitive Market Research, the global Battery Recycling Market size was estimated at USD 27812.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 6396.81 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.8% from 2024 to 2031. The Hydrometallurgical Process emerged as the dominant method in the battery recycling market, holding the major market share over the forecast period. This dominance is primarily attributed to its effectiveness in recovering valuable metals from used batteries, including lithium, cobalt, nickel, and rare earth elements. Unlike traditional pyrometallurgical methods, the hydrometallurgical process utilizes chemical solutions to dissolve and separate metals from battery components, offering several advantages such as higher recovery rates, lower energy consumption, and reduced environmental impact.

• According to Cognitive Market Research, the size of the China Battery Recycling Market was valued at USD 2878.56 million in 2024 and is projected to grow at a CAGR of 12.3% during the forecast period. The country's rapid industrialization and urbanization have led to a significant increase in the consumption of battery-powered devices across various sectors. 
• The Japan Battery Recycling Market is projected to grow at a CAGR of 11.3% during the forecast period, reaching a market size of USD 882.76 million in 2024.
• The India Battery Recycling Market had a market share of USD 767.62 million in 2024 and is projected to grow at a CAGR of 14.6% during the forecast period. This surge in demand has resulted in a higher volume of end-of-life batteries, creating opportunities for battery recycling initiatives.
• The South Korean Battery Recycling Market is projected to grow at a CAGR of 11.9% during the forecast period, reaching USD 639.68 million in 2024.
• The Australian Battery Recycling Market is projected to grow at a CAGR of 12.5% during the forecast period, reaching a market size of USD 332.63 million in 2024.
• The Southeast Asia Battery Recycling Market is projected to grow at a CAGR of 13.8% during the forecast period, reaching a market size of USD 441.38 million in 2024.
• The Rest of the Asia Pacific Battery Recycling Market is projected to grow at a CAGR of 12.6% during the forecast period, reaching a market size of USD 454.17 million in 2024.

South America Battery Recycling Market

According to Cognitive Market Research, the global Battery Recycling Market size was estimated at USD 27812.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 1390.61 million in 2024 and will grow at compound annual growth rate (CAGR) of 10.2% from 2024 to 2031. The Pyrometallurgical Process emerges as the fastest-growing category over the forecast period within the battery recycling market. This growth trajectory is primarily fueled by several key factors driving its adoption and utilization. Firstly, the Pyrometallurgical Process offers distinct advantages in terms of scalability and cost-effectiveness, particularly for the treatment of certain types of batteries, such as lead-acid batteries. By subjecting batteries to high temperatures in controlled environments, this method facilitates the recovery of valuable metals through smelting and refining processes.

• According to Cognitive Market Research, the size of the Brazil Battery Recycling Market was valued at USD 595.18 million in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period. The country's expanding industrial sector and growing adoption of battery-powered technologies across various industries, including automotive, electronics, and telecommunications, have led to an increase in the volume of end-of-life batteries requiring recycling.
• The Argentina Battery Recycling Market had a market share of USD 233.62 million in 2024 and is projected to grow at a CAGR of 11.1% during the forecast period. The country's increasing industrialization and urbanization have led to a rise in the consumption of battery-powered devices across various sectors, including automotive, electronics, and telecommunications.
• The Colombia Battery Recycling Market is projected to witness growth at a CAGR of 10.0% during the forecast period, with a market size of USD 123.76 million in 2024.
• The Peru Battery Recycling Market is projected to witness growth at a CAGR of 10.4% during the forecast period, with a market size of USD 114.03 million in 2024.
• The Chile Battery Recycling Market is projected to witness growth at a CAGR of 10.5% during the forecast period, with a market size of USD 100.12 million in 2024.
• The Rest of the Latin American Battery Recycling Market is projected to grow at a CAGR of 9.3% during the forecast period, reaching a market size of USD 223.89 million in 2024.

Middle East and Africa Battery Recycling Market

According to Cognitive Market Research, the global Battery Recycling Market size was estimated at USD 27812.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 556.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031. The Pyrometallurgical Process emerges as the fastest-growing category over the forecast period within the battery recycling market. This growth trajectory is primarily fueled by several key factors driving its adoption and utilization. Firstly, the Pyrometallurgical Process offers distinct advantages in terms of scalability and cost-effectiveness, particularly for the treatment of certain types of batteries, such as lead-acid batteries. By subjecting batteries to high temperatures in controlled environments, this method facilitates the recovery of valuable metals through smelting and refining processes.

• According to Cognitive Market Research, the GCC Countries Battery Recycling Market size was valued at USD 238.07 million in 2024 and is projected to grow at a CAGR of 11.3% during the forecast period. This surge in demand has resulted in a higher volume of end-of-life batteries, creating opportunities for battery recycling initiatives.
• The Egypt Battery Recycling Market is projected to witness growth at a CAGR of 10.8% during the forecast period, with a market size of USD 58.41 million in 2024.
• The South Africa Battery Recycling Market is projected to witness growth at a CAGR of 11.5% during the forecast period, with a market size of USD 87.89 million in 2024. The country's expanding industrial sector and rising adoption of battery-powered technologies across various industries, including automotive, telecommunications, and renewable energy, have led to a surge in the volume of end-of-life batteries requiring recycling.
• The Turkey Battery Recycling Market is projected to grow at a CAGR of 10.0% during the forecast period, reaching a market size of USD 47.84 million in 2024.
• The Nigeria Battery Recycling Market is projected to witness growth at a CAGR of 9.6% during the forecast period, with a market size of USD 58.41 million in 2024.
• The Rest of the MEA Battery Recycling Market is projected to grow at a CAGR of 9.5% during the forecast period, reaching a market size of USD 65.64 million in 2024

Battery Recycling Market Analysis

Battery Recycling Market Recycling process Segment Analysis

According to Cognitive Market Research, Hydrometallurgical Process held the major market share over the forecast period. This dominance is primarily attributed to its effectiveness in recovering valuable metals from used batteries, including lithium, cobalt, nickel, and rare earth elements. Unlike traditional pyrometallurgical methods, the hydrometallurgical process utilizes chemical solutions to dissolve and separate metals from battery components, offering several advantages such as higher recovery rates, lower energy consumption, and reduced environmental impact. Additionally, the hydrometallurgical process is well-suited for treating various types of batteries, including lithium-ion, nickel-cadmium, and lead-acid batteries, providing versatility and scalability to recyclers.

Pyrometallurgical Process is the fastest-growing category over the forecast period within the battery recycling market. This growth trajectory is primarily fuelled by several key factors driving its adoption and utilization. Firstly, the Pyrometallurgical Process offers distinct advantages in terms of scalability and cost-effectiveness, particularly for the treatment of certain types of batteries, such as lead-acid batteries. By subjecting batteries to high temperatures in controlled environments, this method facilitates the recovery of valuable metals through smelting and refining processes.

• Hydrometallurgical Process
• Pyrometallurgical Process
• Lead Acid Battery Recycling Process
• Lithium-ion Battery Recycling Process

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Battery Recycling Industry. Request a Free Sample PDF!

Battery Recycling Market Processing state Segment Analysis

According to Cognitive Market Research, Extraction Of Material hold a prominent market share. As the demand for battery-powered devices continues to rise across various sectors such as automotive, electronics, and renewable energy, there is a growing need to recover valuable materials from end-of-life batteries efficiently and sustainably. Extraction processes encompass a range of techniques, including hydrometallurgy, pyrometallurgy, and mechanical separation, aimed at recovering metals like lithium, cobalt, nickel, and rare earth elements. These metals are essential components of modern batteries and hold significant economic and strategic value.

Reuse, Repackaging, & Second Life is the fastest-growing category over the forecast period, propelled by several key factors driving its expansion. This growth is primarily fueled by the increasing recognition of the economic and environmental benefits associated with extending the lifespan of batteries through reuse and repackaging initiatives. With the proliferation of battery-powered devices across industries such as automotive, electronics, and energy storage, there is a growing supply of used batteries that can be refurbished, repackaged, and given a second life. This trend is further driven by advancements in battery technology, which have improved the performance and durability of batteries, making them suitable for reuse in various applications.

• Extraction Of Material
• Reuse
• Repackaging
• & Second Life
• Disposa

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Battery Recycling Material Segment Analysis

According to Cognitive Market Research, Electrolytes held the major market share over the forecast period due to their critical role in battery technology and the increasing demand for recycling solutions. As essential components in various types of batteries, including lithium-ion and lead-acid batteries, electrolytes play a crucial role in facilitating ion movement and energy storage. With the proliferation of electric vehicles, renewable energy storage systems, and portable electronic devices, the need for efficient battery recycling processes to recover valuable materials like electrolytes has surged. Consequently, electrolyte recycling technologies and services have emerged as key drivers of growth in the battery recycling market, solidifying their prominent market share.

Plastics is the fastest-growing category over the forecast period within the battery recycling market due to several key factors driving their increased demand and adoption. As battery technologies continue to advance and diversify, incorporating a wide range of materials, plastics play a critical role in battery construction and insulation. With the rising adoption of electric vehicles, energy storage systems, and portable electronics, the demand for batteries containing plastic components has surged. Consequently, the need for efficient recycling processes to recover and reuse plastics from end-of-life batteries has intensified, driving significant growth in the plastics recycling segment of the battery recycling market.

• Metals
• Electrolyte
• Plastics
• Other Compone

Battery Recycling Source Segment Analysis

According to Cognitive Market Research, Automotive Batteries held the major market share over the forecast period due to the widespread adoption of electric vehicles (EVs) and hybrid vehicles. As the automotive industry transitions towards electrification to reduce emissions and promote sustainability, the demand for automotive batteries, particularly lithium-ion batteries, has surged. With the increasing lifespan of EVs and the need to replace aging batteries, the volume of end-of-life automotive batteries available for recycling has grown significantly. Consequently, the establishment of efficient recycling processes for automotive batteries has become paramount, driving the dominance of this segment in the battery recycling market.

Industrial Batteries is the fastest-growing category over the forecast period within the battery recycling market driven by several key factors accelerating their demand and adoption. With the expansion of industries reliant on energy storage solutions, such as manufacturing, telecommunications, and renewable energy, the usage of industrial batteries has surged. These batteries, which include lead-acid batteries used in backup power systems and stationary energy storage, have longer lifespans compared to consumer electronics batteries. Consequently, the accumulation of end-of-life industrial batteries has intensified, prompting the need for efficient recycling processes to recover valuable materials and meet sustainability goals, fueling the rapid growth of this segment in the battery recycling market.

• Automotive Batteries
• Industrial Batteries
• Consumer & electric appliance Batteries

Battery Recycling Chemistry Segment Analysis

According to Cognitive Market Research, Lithium-based Batteries held the major market share over the forecast period due to their widespread use in various applications, including electric vehicles, portable electronics, and renewable energy storage systems. As the demand for lithium-ion batteries continues to soar, driven by the global shift towards clean energy and electrification, the volume of end-of-life lithium-based batteries available for recycling has grown substantially. Consequently, the establishment of efficient recycling processes for lithium-based batteries has become imperative to recover valuable materials like lithium, cobalt, and nickel, solidifying their dominance in the battery recycling market.

Nickel-based Batteries is the fastest-growing category over the forecast period within the battery recycling market propelled by several key factors driving their accelerated demand and adoption. With the increasing deployment of nickel-based batteries in electric vehicles (EVs), energy storage systems, and portable electronics, the demand for efficient recycling solutions has surged. Nickel-based batteries, including nickel-cadmium (NiCd) and nickel-metal hydride (NiMH) batteries, offer high energy density and durability, making them ideal for various applications. Consequently, the need to recover valuable materials like nickel, cadmium, and rare earth metals from end-of-life nickel-based batteries drives significant growth in this segment of the battery recycling market.

• Lead Acid Batteries
• Lithium-based Batteries
• Nickel-based Batteries
• Others

Author's Detail

David Fuller

Senior Analyst at Cognitive Market Research

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I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.

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