Battery Recycling Market – Snapshot
Battery recycling is the way toward recycling utilized batteries from different sources, keeping them from going into metropolitan squanders and landfills for transfer. Practically all family unit batteries, battery packs from cell phones, control apparatuses, workstations and remote control units, and vehicle batteries can be reused. Batteries involve a few lethal and risky metals and substantial metals, for example, lead, mercury, nickel, and cadmium. These can defile soil or underground and surface water assets in the event that they go into landfills.
Upon cremation, batteries discharge these metals into the earth alongside the fiery remains framed during the procedure. Battery recycling averts the corruption of condition and potential wellbeing perils caused from arranged batteries. Batteries are fabricated from different substance sytheses and materials. Each kind of battery has an alternate procedure of recycling. Therefore, the arranging of batteries dependent on their compound piece turns into a significant perspective for battery recycling.
Increase in Environmental Concerns about Used Batteries Likely to Drive Market
Batteries can possibly present risk to the earth and human wellbeing. Crude materials utilized in the production of batteries, for example, mercury, lead, nickel, and cadmium present high risk to human life and condition. Ill-advised transfer of utilized batteries into landfills can drain these substantial metals to soil, defiling underground water and surface water sources as well as causing soil defilement.
The battery fabricating industry has distinguished these potential natural risks brought about by ill-advised transfer and has taken activities to reuse utilized batteries. A few not-for-profit and government associations have additionally found a way to expand mindfulness about hurtful impacts of hazardous battery transfer and advantages of battery recycling. They have worked together with a few car organizations and specialist co-ops for the equivalent. Along these lines, increment in ecological concerns is relied upon to be a key driver of the market.
The business estimation of crude materials utilized for assembling batteries is high. These crude materials are non-sustainable and can be reused uncertain number of times. Materials got from the battery recycling procedure, for example, lead, zinc, cadmium, steel, carbon, and plastic can again be utilized as crude materials in the battery assembling process. Consequently, battery recycling can diminish the mining of significant and non-inexhaustible metals, and substantial metals and can keep them from ending up rare.
Materials acquired from battery recycling are likewise practical contrasted with their new partners. Utilizing these can make assembling forms progressively conservative and condition agreeable. Increment popular for compact hardware, for example, PCs, cell phones, tablets, and advanced cameras is likewise expected to drive the battery recycling market because of the ascent sought after for batteries in these electronic items. These items rely upon batteries for power supply.
Increase in usage of these products is anticipated to eventually boost the usage of batteries. Portable electronics products have a lifecycle of around two to five years. Thus, batteries used in these products are rendered unusable after the expiry of the lifecycle of these products. This is estimated to create significant demand for battery recycling in the near future.
Low Awareness about Battery Recycling Expected to Restrain Market
Currently, battery recycling is largely carried out at industrial and commercial level. Just a few small scale consumers know about battery recycling. Awareness about battery recycling at the individual level is low; as a result, end-users of these batteries dispose them into garbage dumps instead of giving them to recyclers. This causes pollution in the environment along with various other hazards.
Disposal of these batteries in garbage dumps also hampers the recycling process due to the difficulty faced in sorting of these batteries. Thus, low awareness among end-users is projected to restrain the battery recycling market in the next few years.
Battery Recycling Augments Lead Industry
Lead-acid batteries are the most recycled batteries due to the hazardous nature of lead. These batteries have achieved around 99% of recycling rate in North America and more than 90% recycling rate across the globe. Lead is a highly recycled material. It can be recycled infinite number of times. The extracted lead from battery recycling process is reused as a raw material in the manufacture of batteries or other products. Secondary lead production i.e. recycled lead production, is the major source of lead metal production across the globe. Furthermore, usage of secondary lead prevents the exposure of the hazardous metal into the environment.
Europe Held Major Share of Around 40% of Global Battery Recycling Market in 2017
Based on region, the battery recycling market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe dominated the global battery recycling market in 2017. This can be primarily ascribed to the implementation of strict environmental regulations regarding battery disposal and recycling across the region. However, the market in Asia Pacific is anticipated to expand at a significant pace during the forecast period, primarily due to the increase in demand for batteries in developing countries and rise awareness about battery recycling in the region.
High Presence of Battery Manufacturing Companies in Global Battery Recycling Market
Key players operating in the global battery recycling market are Battery Solutions LLC, Call2Recycle, Inc., Exide Technologies, Retriev Technologies, Inc., East Penn Manufacturing Company, EnerSys, G & P Batteries, Gravita India Ltd., Johnson Controls, Inc., and Umicore N.V.