Battery recycling is the process of recycling used batteries from various sources, preventing them from going into municipal wastes and landfills for disposal. Almost all household batteries, battery packs from mobile phones, power tools, laptops & remote control units, and car batteries can be recycled. Batteries comprise several toxic and hazardous metals and heavy metals such as lead, mercury, nickel, and cadmium. These can contaminate soil or underground and surface water resources if they go into landfills. Upon incineration, batteries release these metals into the environment along with the ash formed during the process. Battery recycling prevents the degradation of environment and potential health hazards caused from disposed batteries. Batteries are manufactured from various chemical compositions and materials. Each type of battery has a different process of recycling. As a result, the sorting of batteries based on their chemical composition becomes an important aspect for battery recycling.
The global battery recycling market was valued at around US$ 10 Bn in 2017 and is anticipated to expand at a CAGR of nearly 11% from 2018 to 2026, according to a new report by Transparency Market Research (TMR) titled “Battery Recycling Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026”. Battery recycling prevents used batteries from ending up in municipal wastes and landfills. It enables the reuse of battery materials. Almost every type of battery such as household batteries, laptop batteries, mobile phone batteries, power tool batteries, and car batteries can be recycled. Batteries are manufactured from hazardous metals and heavy metals such as lead, mercury, nickel, zinc, and cadmium. These metals may leach into the soil if not disposed properly, thus contaminating the soil and polluting underwater and surface water sources. Battery recycling ensures the continuous flow of hazardous materials and prevents them from entering the environment, thereby protecting the environment from degradation. Battery recycling activities also help prevent potential health hazards.
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Rise in Environmental Concerns and Manufacturing Economics Achieved from Recycled Products Projected to Boost Battery Recycling Market
Increase in environmental concerns about potential threats from unsafe disposal of used batteries is expected to be a key driver of the battery recycling market. Major raw materials used in batteries such as lead, cadmium, nickel, and mercury are highly hazardous and can cause severe damage to the ecosystem. Battery manufacturing companies have recognized these potential hazards. Several government and non-profit organizations have taken steps toward battery recycling by spreading awareness about it or by entering into agreements with consumers for spent batteries. Raw materials used for manufacturing batteries are of high commercial value. The recycling process can yield these raw materials in a cost effective way vis-vis their fresh counterparts. Using recycled products for manufacturing can lower manufacturing costs of various products, thereby making the manufacturing process more economical and environment friendly. Rise in demand for portable consumer electronics is also likely to a key factor augmenting the market. Batteries are used in portable electronic products as their power source. These batteries have lifespan of around two to five years. They need to be replaced with new batteries post their lifespan. The amount of spent batteries is rising with the increase in demand for portable electronic products. This, in turn, is boosting the demand for battery recycling. However, low end-user awareness about battery recycling is projected to hamper the market. Small-scale end-users of batteries dispose them in garbage dumps instead of giving them to recyclers. Governments and various organizations across the globe have taken steps to increase awareness about battery recycling among end-users in order to prevent batteries from ending up in landfills or garbage dumps.
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Battery Manufacturing Companies Dominate Battery Recycling Market
Key players operating in the 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. The battery manufacturing companies are entering the recycling market due to the availability of raw materials from recycled batteries, due to which they are gaining share in the market.