Asia Pacific Battery Recycling Market Growth and Analysis by 2028

The Asia Pacific battery recycling market is expected to grow from US$ 7,905.16 million in 2021 to US$ 20,046.46 million by 2028; it is estimated to grow at a CAGR of 14.2% from 2021 to 2028.

Battery recycling is an effective way to reprocess and reuse batteries, so as to effectively diminish the number of batteries being thrown away as waste material. Recycling has been identified to be one of the significant concepts, creating lower environmental impacts in comparison to the mining of virgin materials. Direct recycling could substantially lower down the energy consumption as well as reduce emissions. The recycling of used electric batteries encompasses huge potential and yields strong economic benefits. Several policies and regulations have been framed which play a vital role in consumer product safety, safe handling, storage and treatment, reuse, recycling, and disposal of batteries used across various application bases. Valuable metals can be recovered and reused through the recycling of batteries. Owing to the rising use of lithium-ion batteries, some of the raw materials, such as lithium, have very low accessibility. Hence, several companies are investing in the recycling of lithium-ion (Li-ion) batteries to gain value from it. Metals apart from lithium, such as cobalt, nickel, and manganese, as well as other critical metals, including aluminum, copper, and graphite can be extracted from spent batteries. The extraction of these metals offers profitability to the companies opting for the recycling process. Also, the lower cost of recycled materials from these batteries is propelling the recycling of end-of-life lithium-ion batteries.
 

The COVID-19 pandemic has caused a significant economic loss in Asia Pacific. The uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. However, the Asia Pacific Battery Recycling market is expected to witness an increase in investment by existing players along with penetration of new players to tap the prevailing opportunities and cater to expanding investment in advanced battery recycling facilities in post-pandemic times.
 

With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific battery recycling market. The surge in demand for lithium-ion batteries across consumer electronics, electric vehicles, and grid electrical storage, has increased the need for critical materials including cobalt, lithium, and graphite. With the steady growth in the demand for lithium-ion batteries, the focus has been shifted upon resource activation with the help of recycling. There is a rising need to incorporate advanced technology to promote resource efficiency, along with an economically feasible recycling system for lithium-ion batteries, to maintain the future supply of the component materials. At present, the focus of the research has been shifted toward recovering as many materials as possible while recycling a Li-ion battery, to promote environmental and economic sustainability. Several research studies are focused on developing processes for the recycling of lithium-ion batteries. While several processes pose difficulties in actual application, some methods have been studied to pose better feasibility, among which, the most promising processes are separation technologies. Further, researchers are currently focusing their efforts to develop designs and materials related to lithium-ion batteries, which can effectively ease the future recovery of the batteries.
 

Asia Pacific Battery Recycling Market Segmentation

Asia Pacific Battery Recycling Market – By Type

• Lead Acid Battery
• Lithium-Based Battery
• Nickel-Based Battery
• Others

Asia Pacific Battery Recycling Market – By Battery Source

• Automotive
• Industrial
• Household
• Consumer Electronics
• Forklift

Asia Pacific Battery Recycling Market – By Country

• Australia
• China
• India
• Japan
• South Kore
• Rest of Asia Pacific

Asia Pacific Battery Recycling Report Scope