Global Battery Materials Recycling Market: Overview
The battery comprises of a number of heavy metals as well as toxic materials. Disposing of these materials can raise issues of water and soil contamination. The key objective of battery materials recycling is to minimize the series of batteries that are disposed of in the form of trash. With a view to curb environmental pollution, firms have taken strict measures and have devised innovative solutions and means for it. Battery materials recycling is one of these new means adopted by the firms to avoid ecological damage.
Global Battery Materials Recycling Market: Growth Factors
Rising ecological concerns, thriving vehicle sector, and emerging electronics industry are anticipated to drive the overall battery materials recycling market trends. With the world witnessing renewable energy developments, electric and hybrid vehicles have become popular across the globe and have brought a paradigm shift in the automotive sector. This, in turn, can lead to the large-scale expansion of battery materials recycling market in the near future. Additionally, strict regulations governing battery wastes disposal is anticipated to reshape and promote the battery materials recycling market growth graph. Furthermore, technological breakthroughs taking place in the battery material manufacturing sector pertaining to power density, costs, and ecological effects are few of the key aspects that will impel the expansion of battery materials recycling sector.
Global Battery Materials Recycling Market: Segmentation
The battery materials recycling market can be segmented into material type and end-user. On the basis of material type, the industry is sectored into iron, cobalt, manganese, plastics, manganese, lithium, lead, nickel, and electrolytes. End-user wise, the battery materials recycling market is divided into aerospace & defense, automotive, textile, consumer goods & electronics, packaging, and building & construction.
Global Battery Materials Recycling Market: Regional Analysis
Based on the region, the global battery materials recycling market can be divided into five main regions: Latin America, Asia Pacific, Europe, North America, and the Middle East and Africa. Asia Pacific zone is projected to contribute notably towards overall battery materials recycling market earnings over the years to come. The growth can be accredited to high production of batteries for motor vehicles in the densely populated countries such as India and China. In addition to this, vehicle production witnessed in the countries such as South Korea, Thailand, Malaysia, and Indonesia on a large scale will further account for the major regional share towards the global market.
Growing concerns over global warming and greenhouse effects has carved & paved a way for the European continent to dominate the global battery materials recycling industry surge in terms of both revenue & size. The regional market is expected to grow tremendously over the years to come, due to the increase in the battery production capacity in the region and the introduction of new battery technologies.
Global Battery Materials Recycling Market: Competitive Players
Few of the main participants in battery materials recycling market include Johnson controls international plc, Eco-Bat Technologies Ltd., Exide Industries, Battery solutions LLC, Umicore N.V, and G&P Batteries.
Global Battery Materials Recycling Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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