3 October 2018: The global battery recycling market is predicted to value USD 21.04 billion by 2025, according to a report by Grand View Research, Inc. Environmental concerns to control harmful emissions from battery waste owing to increasing air pollution is expected to impel demand for battery recycling. Growing necessity to recover valuable materials and metals from used batteries can further stimulate the demand.
High demand for batteries from multiple end-use industries such as consumer electronic and automobile is likely to create scarcity of resources required for production of new batteries. Recovery of metals and other useful raw materials from used batteries can resolve the issue while reducing CO2 emissions. Such environmental benefits are likely to increase the demand for battery recycling. Considering the demand, most manufacturing companies are focusing on research investments to offer better products equipped with innovative technologies.
For instance, Toyota recently revealed that it is working on a new battery technology based on solid electrolyte against conventional semi-liquid state. The company believes that these new form of batteries are expected to be available in electric vehicles by 2020. The technology can possibly support production of compact and lightweight lithium-ion batteries for electric vehicles. It can also offer longer usable life, potential product recycling, and alternative post-vehicle life to the batteries. Considering the benefits of this new technology, the automobile giant is predicting that it can come up as a big boom for automakers dealing in electric vehicles.
Stringent government regulations to reduce harmful emissions owing to increasing air pollution can stimulate growth of battery recycling market. Growing awareness about benefits of recycling among humans is likely to drive growth of the market in the coming years. Increasing use of recovered metals to produce recycled batteries owing to reduced CO2 emissions and less consumption of energy in mining can foster market growth during the forecast period (2017 to 2025).
Some of the prominent companies operating in the market for battery recycling are Aqua Metals, Exide Technologies, Call2Recycle, ECOBAT, and G&P Batteries.
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