Global Battery Recycling Market 2017-2021
About Battery Recycling
Battery recycling is a process that aims at diminishing the number of batteries being disposed of as municipal solid waste. Batteries consist of several heavy metals and toxic chemicals. Therefore, disposing of them as regular trash has raised concerns about water pollution and soil contamination. The soil and water pollution caused by the disposal of batteries as a municipal waste has resulted in the need to take necessary steps to recycle batteries. Various governments have mandated battery recycling processes.
Technavio’s analysts forecast the global battery recycling market to grow at a CAGR of 10.96% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global battery recycling market for 2017-2021. To calculate the market size, the report discusses major drivers influencing the market growth and challenges faced by vendors and the market as a whole.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Battery Recycling Market 2017-2021
Technavio recognizes the following companies as the key players in the global battery recycling market: Call2Rrecycle, Exide Technologies, Gravita India, and Johnson Controls.
Other Prominent Vendors in the market are: East Penn Manufacturing, ENERSYS, Umicore, Retriev Technologies, G & P Batteries, The Doe Run Company, Gopher Resource, RSR Corporation, Terrapure Environmental, COM2 Recycling Solutions, World Logistics, Aqua Metals, Raw Materials Company, ENGITEC TECHNOLOGIES, and Vinton Batteries.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is subsides to encourage battery recycling. Lithium-ion batteries are gaining momentum in the global battery market. The gap between standard lead-acid batteries (the oldest battery technology in the battery market) and lithium-ion batteries is drastically reducing. This is owing to numerous features and benefits that lithium-ion batteries provide over standard lead-acid batteries. However, the concern that arises with the extensive use of lithium-ion batteries is the availability of lithium metal worldwide.”
According to the report, one driver in market is widening lithium supply-demand gap. Although there is an adequate amount of lithium resources available globally to cater to the demand, almost 70% of the global lithium reserves are concentrated in South America's ABC (Argentina, Bolivia, and Chile) region. Owing to the sparse accessibility of the raw material (available only in a geography) there is an integral risk. Some challenges are likely to influence the lithium supply in the future. Unsteadiness of governments in the above-mentioned regions can significantly affect the supply. It can impact the battery price, which, in turn, will increase the vehicle cost.
Further, the report states that one challenge in market is issues in managing battery recycling sites. The most profitable battery recycling chemistry is the lead-acid battery. Others are too low to yield. However, lead is hazardous due to its high level of toxicity, contributing to environmental pollution. Improper lead disposal can cause soil and water pollution. Many improper disposals have been done in the past and companies had to shut down their plant as a penalty. In March 2015, Exide Technologies had to shut down its recycling plant in Los Angeles permanently due to soil contamination. In addition, it had to pay $50 million as a fine to clean up the area.
Call2Rrecycle, Exide Technologies, Gravita India, Johnson Controls, East Penn Manufacturing, ENERSYS, Umicore, Retriev Technologies, G & P Batteries, The Doe Run Company, Gopher Resource, RSR Corporation, Terrapure Environmental, COM2 Recycling Solutions, World Logistics, Aqua Metals, Raw Materials Company, ENGITEC TECHNOLOGIES, Vinton Batteries.
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