Battery Recycling Market Size Report and Global Growth Analysis by 2028

Battery Recycling Market Size and Forecasts (2021 - 2028), Global and Regional Growth Opportunity Analysis

Publication Month : Aug 2021

  • Report Code : TIPTE100000672
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 141
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[Research Report] The battery recycling market was valued at US$ 15,690.07 million in 2020 and is projected to reach US$ 36,002.73 million by 2028; it is expected to grow at a CAGR of 13.4% from 2021 to 2028.


Battery recycling is an effective way to reprocess and reuse the waste batteries. 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.


The increasing government regulations for battery disposal and recycling has aided the battery recycling market growth. Policymakers have framed several regulations regarding the effective utilization and disposal of waste battery materials, which are significantly contributing to the expansion of the battery recycling market. Such policies play a vital role in consumer product safety, safe handling, storage and treatment, reuse, recycling, and disposal of batteries used across various application bases. For instance, as per the Environmental Protection Agency (EPA), lithium-ion batteries deployed in products such as electronics and electrical appliances, consumer goods, electric vehicles, and electrical energy storage systems, should be handled and disposed of carefully. Single-use, non-rechargeable lithium metal batteries, and re-chargeable lithium-polymer cells (Li-ion, Li-ion cells) are categorized as two types of lithium batteries that are used by consumers base and require effective waste management to avoid environmental degradation. Various regulations and bodies involved in the recycling of lithium-ion batteries include European Union Batteries Directive, GRS Batterien Foundation (Germany), The Japan Battery Recycling Centre (JBRC), and NEV battery recycling regulations (China). Similarly, as per an article published by European Parliamentary Research Service (EPRS) in July 2021, more than 1.9 million tons of waste batteries are generated every year in Europe. The collection and recycling rates, coupled with the profitability of recycling and the impact upon the environment and health, are heavily reliant upon the battery technology or type. However, several challenges are associated with the battery recycling market, especially with lithium-ion batteries. The costs of recycling is too high in comparison with those occurring from extracting and refining virgin resources, owing to the number of steps and processes involved to collect, recycle, and deliver finished products to customers. Thus, this factor is restraining the battery recycling market growth.

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Battery Recycling Market: Strategic Insights

Market Size Value inUS$ 15,690.07 million in 2020
Market Size Value byUS$ 36,002.73 million by 2028
Growth rateCAGR of 13.4% from 2021 to 2028
Forecast Period2021-2028
Base Year2020
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The "Global Battery Recycling Market Analysis to 2028" is a specialized and in-depth study with a major focus on the global battery recycling market trends and growth opportunities. The report aims to provide an overview of the global battery recycling market with detailed market segmentation by type, battery source, and geography. The global battery recycling market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of battery recycling worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the battery recycling market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the battery recycling market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative battery recycling market opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global battery recycling market, which helps understand the entire supply chain and various factors affecting the market growth.

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The global battery recycling market is segmented based on type, and battery source. Based on type, the battery recycling market is segmented as lead acid battery, lithium-based battery, nickel-based battery, and others. Based on battery source, the market is classified as automotive, industrial, household, consumer electronics, and forklift.

Based on type, the lead acid battery segment accounted for a significant battery recycling market share. The lead acid battery is a type of rechargeable battery that has the lowest energy density. The battery can supply high surge currents which indicate that the cells have a large power-to-weight ratio. The cost of the lead acid batteries is comparatively low which makes them an ideal choice for use in motor vehicles to provide the high current required by starter motors. On the basis of battery source consumer electronics led the battery recycling market with a largest market share. Various office, household, and entertainment devices along with lighting and tools for the home are being powered by consumer batteries. Consumer batteries are mostly used for powering small portable electronic devices such as laptops, cell phones, remote control, power tools, video game systems and other such devices that requires energy without a cord.


The report provides a detailed overview of the global battery recycling market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific accounted for a significant share of the market and valued at more than US$ 8400.00 million in 2022. Asia Pacific comprises several developing and developed economies such as China, India, Japan, South Korea, and Australia. The region has seen a rise in the consumption of lithium-ion batteries, owing to the growth of the automotive sector and increased penetration of electric vehicles in the region. North America is also expected to witness considerable growth valued at approximately US$ 6600.00 million in 2028, wing to various government regulations, along with an increase in demand for electric vehicles in the region. Furthermore, in Europe, there has been a rising development of battery recycling capabilities to recycle the increasing volume of waste batteries in the region. This has created lucrative opportunities in battery recycling market. The battery recycling market in Europe is augmented to grow at CAGR of 13.7% during the forecast period.


Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global battery recycling market.

In May 2023, Aqua Metals, Inc. and 6K Energy announce partnership to develop next generation of sustainable materials for lithium batteries.

In 2021, Retriev Technologies has announced the completion of its first volume shipment of recovered battery materials to Tokyo-based manufacturer Marubeni Corp. Marubeni Corp. and Retriev Technologies Inc. announced a strategic partnership for developing an innovative business model for end-of-life lithium-ion batteries (EOL LIB).


Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). The crisis disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the international travel bans imposed by various governments in Europe, Asia Pacific, and North America forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the chemicals & materials industry in 2020 and early 2021, thereby restraining the growth of various markets related to this industry, including the battery recycling market.

Before the COVID-19 outbreak, the battery recycling market was mainly driven by the rising demand from automotive, power, and electronics industries. However, in 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic disrupted the supply chain of key raw materials and disturbed manufacturing processes due to restrictions imposed by government authorities in various countries. As per an article published by National Center for Biotechnology Information in December 2020, the pandemic has significantly impacted the recycling chain which involves shipping of expended batteries for reprocessing stretches across the world. Such factors reduced the recycling rate of battery.


Some of the key players operating in the battery recycling market include Aqua Metals, Inc.; Call2recycle, Inc.; Clarios. Llc; Com2 Recycling Solutions; East Penn Manufacturing Company; Exide Technologies; G P Batteries; Gopher Resource Llc; Retriev Technologies Inc; and Terrapure Environmental Ltd among others.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, and Battery Source

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

Based on application, why consumer electronics segment accounted for the largest share in the global battery recycling market?

In 2020, the lead acid battery segment is dominating the battery recycling market. Based on application, the battery recycling market is categorized into automotive, industrial, household, consumer electronics and forklift. The consumer electronics segment accounted for the largest market share in 2020. The rapid growth of electric vehicles in the market is imperative which is due to improving the air quality as well as reducing greenhouse gas emissions. Most of the automotive batteries are lead acid batteries and the recycling process includes grinding, neutralization of the acid as well as the separation of the polymers from the lead.

The List of Companies - Battery Recycling Market


The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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