According to a comprehensive research report by Market Research Future (MRFR), The Battery Recycling Market Information by Chemistry, Processing State, Recycling Process, Material, Application, Source and Region- Forecast till 2032, The Global Battery Recycling Market is estimated to reach a valuation of $54.2 billion at a CAGR of 9.14 percent during the forecast period from 2024 to 2032.
Battery recycling involves the collection, processing, and repurposing of used batteries to recover key components like lithium, cobalt, nickel, and lead. These materials can then be reused in the production of new batteries, reducing the need for virgin resources and minimizing environmental damage. Batteries, especially lithium-ion (Li-ion) batteries, are extensively used in electric vehicles, mobile phones, laptops, and other electronic devices. The increasing consumption of these devices has driven a surge in battery waste, thereby amplifying the need for efficient recycling practices.
The global battery recycling market is witnessing strong growth due to both regulatory pressure to minimize waste and an increasing awareness about the environmental benefits of recycling. The market is projected to expand as new recycling technologies are developed, making the process more cost-effective and efficient. As of recent years, the growing demand for EVs and energy storage systems, coupled with advances in recycling technologies, has created a positive outlook for the market.
Published January 2025