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EN22028564 |
Pages: 220 |
Feb 2023 |
The automotive battery recycling market is rapidly gaining huge demand due to the rise in demand for lithium-ion batteries (LIB) in energy storage and electric vehicles. Rapid growth in passenger electric vehicles (EVs) along with the utilization of commercial EVs globally is a major factor driving the automotive battery recycling market growth. The battery recycling industry plays a vital role in reducing the number of batteries entering landfills that leads to soil pollution. This is because improper disposal of batteries raises environmental concerns as they contain several toxic chemicals and heavy metals such as cadmium, lead, mercury, and others. Also, when these batteries such as automotive batteries get damaged or corroded, they leak harmful chemicals into the soil that can even enter water bodies. This not only harms the environment but also affects human health. For instance, lithium is highly flammable and when lithium-ion batteries are dumped into a landfill, they can cause ignition mixing with naturally produced methane gas that can cause a fire. Hence, automotive battery recycling and reuse are gaining huge popularity.
Nevertheless, moving the discarded or used automotive batteries by any mode of transport such as train, air, or truck is dangerous, as automotive batteries contain flammable explosive, corrosive, or radioactive materials which may lead to some serious mishaps and environmental pollution. These factors are anticipated to restrain the automotive battery recycling market size in the upcoming years.
Automotive battery recycling decreases the quantity of toxic waste that goes into landfill. In addition, the battery recycling process aids in preserving natural and non-renewable minerals and metals such as aluminum, cobalt, lead, nickel, lithium, and others. It also helps in controlling land & soil pollution and avoids the additional requirements of the energy that is widely utilized while mining metals and battery manufacturing. These factors are anticipated to generate massive growth opportunities and also drive the automotive battery recycling market share during the forecast period.
Automotive battery recycling is the process of reusing or reprocessing batteries in order to decrease the number of automotive batteries that are being disposed of in an unregulated matter. Automotive batteries contain various heavy metals and toxic chemicals which require a proper process to be disposed of to reduce environmental concerns. Various batteries such as nickel metal hydride (Ni-MH), lead-acid batteries, nickel-zinc (Ni-Zn), nickel-cadmium (Ni-Cd), lithium-ion batteries, and others can be recycled and reused. Hence, the automotive battery recycling industry plays a major role in reducing negative environmental impact as toxic materials within the batteries are properly recycled.
The COVID-19 pandemic has impacted various industries across the globe. The automotive battery recycling market also experienced a negative impact due to the sudden closure of manufacturing units and recycling units which was the result of a complete lockdown globally. The economic uncertainties have led to mass layoffs and reduced consumer spending which has greatly affected the automotive battery recycling market share in the upcoming years. In addition, owing to the import-export restrictions, the raw material supply chain from China was affected. China is considered as the largest battery recycling and manufacturing hub. Thus, disturbances in battery recycling and supply chain have largely affected the viability of cobalt, lithium, lead, and other compounds which are non-renewable and environmentally dangerous. These factors had a remarkable effect on the automotive battery recycling market growth during the pandemic period.
The demand for electric vehicles is rising quickly on a global scale. For instance, China, the world's largest market for electric vehicles, sold 1.18 million passenger electric vehicles in 2019, and the number is rising steadily. Rapid production, premium designs, and partnerships with top automakers such as Hyundai, Tesla, Toyota, and others are the key reasons for this growth. China is currently leading the global battery recycling industry owing to the presence of a large number of battery recycling companies. For instance, China battery recycling industry is majorly dominated by leading players such as Guoxuan High-Tech, CATL, and BYD. Also, in 2019, in India, only 3,600 passenger EVs were sold but the country is preparing to transform 40% of its automotive sales into e-mobility by 2030. Hence, with rapid growth in the number of electric vehicles, it is required to create better facilities for battery recycling to solve e-waste caused problems. These factors are projected to drive the automotive battery recycling market opportunity during the forecast period.
To know more about global automotive battery recycling market drivers, get in touch with our analysts here.
Automotive battery recycling is a very cost-consuming process and huge investments are required for setting up a recycling plant. Also, the recycled product’s value is very less as compared to the new products. Batteries such as lithium-ion batteries possess flammable, toxic, corrosive, and explosive characteristics due to which they are considered hazardous. For instance, lithium-ion batteries are classified as dangerous goods as these batteries are electrically and thermally unstable when subjected to certain uncontrolled environmental conditions. This can lead to heat production, electrolyte leakage, and the venting of gases. These factors are anticipated to hamper market growth in the future.
To accelerate the growth of the automotive battery recycling market, the companies involved in battery recycling are implementing several measures into practice, such as partnerships, investments, and corporate expansion. For instance, in January 2022, Li-Cycle Corp., a top company for recycling lithium-ion batteries, and Morrow Batteries formed a joint venture to build a new lithium-ion battery recycling facility in Norway. In addition, Li-Cycle Holdings Corp. began the construction of its fourth commercial lithium-ion recycling facility in Tuscaloosa, Alabama, in September 2021. Retriev Technologies Inc., a market-leading battery recycling and management company, and Marubeni Corporation, a Japanese corporation, have partnered strategically to create a new circular business for lithium-ion batteries when these batteries reach the end of their lifecycle. These factors are anticipated to create better growth opportunities for the automotive recycling batteries market players in the future.
To know more about global automotive battery recycling market opportunities, get in touch with our analysts here.
Based on type, the market has been divided into lead-acid battery, lithium-ion battery, and others. The lead-acid battery sub-segment held the largest market share in 2021, while the lithium-ion battery sub-segment is anticipated to increase at the fastest CAGR during the forecast period.
Source: Research Dive Analysis
The lead-acid batteries sub-segment accounted for the highest market size in 2021. Lead-acid batteries are less expensive than lithium-ion batteries and can be recharged numerous times, thus these batteries are frequently utilized in automobile applications. Lead-acid batteries have better performance, especially during engine starts, and can operate well even in subfreezing conditions. Lead-acid batteries are appropriate for automobiles with traditional internal combustion engines. These batteries can handle huge currents and can withstand misuse and overcharging. In addition, 97% of the lead used in end-of-life batteries can be recycled efficiently. These batteries deliver exceptional performance, have the longest lifespan, a low self-discharge rate, and cheap cost per watt-hour. These factors helped lead acid batteries to capture a better hold in the market in recent years.
The usage of lithium-ion batteries in electric vehicles is the key factor responsible for the growth of their popularity. The presence of hazardous and heavy metals in lithium-ion batteries is comparatively low. These batteries are also small and lightweight. They offer a high energy density, low self-discharge rate, and high voltage capacity. Lithium-ion batteries are three times more powerful than nickel-based batteries and can produce up to 3.6 Volts. In addition, the black mass of lithium-ion batteries contains 95% of precious metals that may be recovered by hydrometallurgical recycling. A combination of mechanical and hydrometallurgical recycling processes can recover 80% of lithium-ion batteries.
Based on recycling process, the market has been divided into hydrometallurgical process, pyrometallurgy process, and others. Among these, the hydrometallurgical process accounted for the highest revenue share in 2021 and it is estimated to show the fastest growth during the forecast period.
Source: Research Dive Analysis
The hydrometallurgical process sub-segment registered the highest market share in 2021. The hydrometallurgical process is frequently used for recycling vehicle batteries owing to factors such as extracting lean, complicated, and low-grade ores. The hydrometallurgical process can also be used on a modest scale initially and then scaled up as needed. This method avoids using coke, a pricey reducing chemical that contributes to lessening environmental pollution. A primary impetus for the hydrometallurgical process is the depletion of natural metal resources and the rise in interest in rare earth elements.
The automotive battery recycling market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Asia-Pacific battery recycling market is anticipated to grow at a CAGR of over 6.4% during the forecast period. The Asia-Pacific automotive battery recycling market is driven by growing demand for electric vehicles and increasing environmental regulations. The presence of leading players namely CATL, GEM Co., Ltd., Neometals Ltd, and Gravita India Limited is driving the automotive battery recycling demand. For instance, in June 2019, LG Chem, the South Korea-based chemical company established a partnership with Envirostream, an Australia-based recycling company to develop processing solutions for reducing battery waste streams in Australia. Also, in December 2021, Attero, the e-waste recycling company planned to invest $3,000 million to boost lithium-ion battery recycling in India. In addition, Sumitomo Metal Mining Co., Ltd., the Japan-based steel manufacturer, plans to bring the recycling facility online by 2023 in Japan. This facility is estimated to process 7,000 tons of crushed batteries a year that can extract 200 tons of cobalt which can be used for manufacturing nickel-manganese-cobalt cathodes for electric vehicle batteries. These factors are anticipated to boost the Asia-Pacific automotive battery recycling market share during the forecast period.
Partnership, acquisition, and business expansion are common strategies followed by major market players. For instance, in March 2022, Retriev Technologies, the leading company in battery recycling acquired Battery Solutions, the leading company in end-to-end sustainable management solutions. This acquisition will facilitate the development of comprehensive battery management solutions across North America.
Source: Research Dive Analysis
Some of the leading automotive battery recycling market players are OnTo Technology LLC., Retriev Technologies Inc., Envirostream Australia Pty Ltd, Umicore, American Manganese Inc., Raw Materials Company Inc., Limited (CATL), Neometals Ltd, Contemporary Amperex Technology Co., and Duesenfeld.
| Aspect | Particulars |
| Historical Market Estimations | 2020 |
| Base Year for Market Estimation | 2021 |
| Forecast Timeline for Market Projection | 2022-2031 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Type |
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| Segmentation by Recycling Process |
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| Key Companies Profiled |
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1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation
1.5.1.Top-down approach
1.5.2.Bottom-up approach
2.Report Scope
2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global automotive battery recycling market
3.Executive Summary
4.Market Overview
4.1.Introduction
4.2.Growth impact forces
4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.4.1.Technology matrix
4.4.2.Regulatory matrix
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.6.PESTLE analysis
4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.LEGAL
4.6.6.Environmental
4.7.Impact of COVID-19 on Automotive Battery Recycling market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Automotive Battery Recycling Market Analysis, by Type
5.1.Overview
5.2.Lead-acid Battery
5.2.1.Definition, key trends, growth factors, and opportunities
5.2.2.Market size analysis, by region
5.2.3.Market share analysis, by country
5.3.Lithium-ion Battery
5.3.1.Definition, key trends, growth factors, and opportunities
5.3.2.Market size analysis, by region
5.3.3.Market share analysis, by country
5.4.Others
5.4.1.Definition, key trends, growth factors, and opportunities
5.4.2.Market size analysis, by region
5.4.3.Market share analysis, by country
5.5.Research Dive Exclusive Insights
5.5.1.Market attractiveness
5.5.2.Competition heatmap
6.Automotive Battery Recycling Market Analysis, by Recycling Process
6.1.Hydrometallurgical Process
6.1.1.Definition, key trends, growth factors, and opportunities
6.1.2.Market size analysis, by region
6.1.3.Market share analysis, by country
6.2.Pyrometallurgy Process
6.2.1.Definition, key trends, growth factors, and opportunities
6.2.2.Market size analysis, by region
6.2.3.Market share analysis, by country
6.3.Others
6.3.1.Definition, key trends, growth factors, and opportunities
6.3.2.Market size analysis, by region
6.3.3.Market share analysis, by country
6.4.Research Dive Exclusive Insights
6.4.1.Market attractiveness
6.4.2.Competition heatmap
7.Automotive Battery Recycling Market, by Region
7.1.North America
7.1.1.U.S.
7.1.1.1.Market size analysis, by Type
7.1.1.2.Market size analysis, by Recycling Process
7.1.2.Canada
7.1.2.1.Market size analysis, by Type
7.1.2.2.Market size analysis, by Recycling Process
7.1.3.Mexico
7.1.3.1.Market size analysis, by Type
7.1.3.2.Market size analysis, by Recycling Process
7.1.4.Research Dive Exclusive Insights
7.1.4.1.Market attractiveness
7.1.4.2.Competition heatmap
7.2.Europe
7.2.1.Germany
7.2.1.1.Market size analysis, by Type
7.2.1.2.Market size analysis, by Recycling Process
7.2.2.UK
7.2.2.1.Market size analysis, by Type
7.2.2.2.Market size analysis, by Recycling Process
7.2.3.France
7.2.3.1.Market size analysis, by Type
7.2.3.2.Market size analysis, by Recycling Process
7.2.4.Spain
7.2.4.1.Market size analysis, by Type
7.2.4.2.Market size analysis, by Recycling Process
7.2.5.Italy
7.2.5.1.Market size analysis, by Type
7.2.5.2.Market size analysis, by Recycling Process
7.2.6.Rest of Europe
7.2.6.1.Market size analysis, by Type
7.2.6.2.Market size analysis, by Recycling Process
7.2.7.Research Dive Exclusive Insights
7.2.7.1.Market attractiveness
7.2.7.2.Competition heatmap
7.3.Asia-Pacific
7.3.1.China
7.3.1.1.Market size analysis, by Type
7.3.1.2.Market size analysis, by Recycling Process
7.3.2.Japan
7.3.2.1.Market size analysis, by Type
7.3.2.2.Market size analysis, by Recycling Process
7.3.3.India
7.3.3.1.Market size analysis, by Type
7.3.3.2.Market size analysis, by Recycling Process
7.3.4.Australia
7.3.4.1.Market size analysis, by Type
7.3.4.2.Market size analysis, by Recycling Process
7.3.5.South Korea
7.3.5.1.Market size analysis, by Type
7.3.5.2.Market size analysis, by Recycling Process
7.3.6.Rest of Asia-Pacific
7.3.6.1.Market size analysis, by Type
7.3.6.2.Market size analysis, by Recycling Process
7.3.7.Research Dive Exclusive Insights
7.3.7.1.Market attractiveness
7.3.7.2.Competition heatmap
7.4.LAMEA
7.4.1.Brazil
7.4.1.1.Market size analysis, by Type
7.4.1.2.Market size analysis, by Recycling Process
7.4.2.Saudi Arabia
7.4.2.1.Market size analysis, by Type
7.4.2.2.Market size analysis, by Recycling Process
7.4.3.UAE
7.4.3.1.Market size analysis, by Type
7.4.3.2.Market size analysis, by Recycling Process
7.4.4.South Africa
7.4.4.1.Market size analysis, by Type
7.4.4.2.Market size analysis, by Recycling Process
7.4.5.Rest of LAMEA
7.4.5.1.Market size analysis, by Type
7.4.5.2.Market size analysis, by Recycling Process
7.4.6.Research Dive Exclusive Insights
7.4.6.1.Market attractiveness
7.4.6.2.Competition heatmap
8.Competitive Landscape
8.1.Top winning strategies, 2021
8.1.1.By strategy
8.1.2.By year
8.2.Strategic overview
8.3.Market share analysis, 2021
9.Company Profiles
9.1.Li-Cycle Corp.
9.1.1.Overview
9.1.2.Business segments
9.1.3.Product portfolio
9.1.4.Financial performance
9.1.5.Recent developments
9.1.6.SWOT analysis
9.2.Retriev Technologies Inc.
9.2.1.Overview
9.2.2.Business segments
9.2.3.Product portfolio
9.2.4.Financial performance
9.2.5.Recent developments
9.2.6.SWOT analysis
9.3.Umicore
9.3.1.Overview
9.3.2.Business segments
9.3.3.Product portfolio
9.3.4.Financial performance
9.3.5.Recent developments
9.3.6.SWOT analysis
9.4.American Manganese Inc.
9.4.1.Overview
9.4.2.Business segments
9.4.3.Product portfolio
9.4.4.Financial performance
9.4.5.Recent developments
9.4.6.SWOT analysis
9.5.Envirostream Australia Pty Ltd
9.5.1.Overview
9.5.2.Business segments
9.5.3.Product portfolio
9.5.4.Financial performance
9.5.5.Recent developments
9.5.6.SWOT analysis
9.6.Raw Materials Company Inc.
9.6.1.Overview
9.6.2.Business segments
9.6.3.Product portfolio
9.6.4.Financial performance
9.6.5.Recent developments
9.6.6.SWOT analysis
9.7.Contemporary Amperex Technology Co.
9.7.1.Overview
9.7.2.Business segments
9.7.3.Product portfolio
9.7.4.Financial performance
9.7.5.Recent developments
9.7.6.SWOT analysis
9.8.Limited (CATL)
9.8.1.Overview
9.8.2.Business segments
9.8.3.Product portfolio
9.8.4.Financial performance
9.8.5.Recent developments
9.8.6.SWOT analysis
9.9.Neometals Ltd
9.9.1.Overview
9.9.2.Business segments
9.9.3.Product portfolio
9.9.4.Financial performance
9.9.5.Recent developments
9.9.6.SWOT analysis
9.10.Duesenfeld
9.10.1.Overview
9.10.2.Business segments
9.10.3.Product portfolio
9.10.4.Financial performance
9.10.5.Recent developments
9.10.6.SWOT analysis
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