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Upcoming Allied Market Research
2023
Battery Scrap Market

Battery Scrap Market

by Product type (Lead Acid, Lithium Ion, Nickel Cadmium, Nickel-Metal Hydride and Others), Application (Material Extraction, Reuse or Second Life, Disposal and Others), End-User Industry (Consumer Electronics, Automotive, Industrial, Marine and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A13818
Pages: NA
Mar 2023 | 1875 Views
Author(s) : NA
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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When a battery approaches the end of its usable life after a specific amount of use, it is referred to as a battery scrap. This battery scrap carries many heavy metals and poisonous chemicals. These batteries will collapse the groundwater sources and can also cause soil contamination. Mercury, cadmium and lead are very toxic substances. The battery scrap is stored, collected and recycled to prevent these poisonous substances from entering environment and make use of useful metals. This can be treated with the help of smelting and electrolysis process as to separate many impurities from it such as oxides, sulfates and other metal and to extract lead. The battery scrap is the key source of secondary lead production. Many of these batteries are purchased and stocks and then used to extract lead and sell the extracted lead.

These are used in many applications such as disposal, material extraction and reuse or second life. And also, in many industries such as automotive, consumer electronics, marine, industrial, and others.

COVID-19 Impact analysis    

  • The battery scrap market was negatively affected due to the outbreak of the COVID-19 pandemic.
  • The industries such as automotive, consumer electronics, marine, industrial, and others were shut down during the COVID-19 pandemic which decreases the demand for battery scrap which affected the battery scrap market growth.
  • The battery scrap market faced downfall of revenue due to the COVID-19 pandemic. 
  • The demand for battery scrap decreased in many countries due to the outbreak of COVID-19 pandemic as the global supply chain was disrupted.

Top Impacting Factors

About 50% of the total lead supply comes from the recycled batteries. Lead-acid batteries are mostly used from past few years. Lead is most commonly used in automotive industry. It is used in many components such as car batteries, wheel weights and solders in electronic application. The automotive industry observes a remarkable demand for battery scrap. The automobile sector is expected to grow with the extended use of lead. This will drive the growth of the battery scrap market. There is an increase in the extraction of many raw materials such as lead, manganese, iron, chromium and copper from recyclable batteries. This will create a lucrative growth opportunity for battery scrap market. According to Li-cycle, a battery recycling startup based in Canada, the adoption of electric vehicles might result in the disposal of 11 million tons of used lithium-ion batteries. The adaption of electric vehicle has increased globally. This will create an opportunity for the market. Many laws regarding the clean use of energy and for disposable and reuse of batteries were imposed by the local and national government. This has boosted the demand for battery scrap. In hybrid cars nickel-metal hybrid (NiMH) batteries are used. They provide high performance and advantage regarding the protection of environment. Also, it is smaller and lighter this boost the economy of hybrid cars. The sorting, storage, disposal, transportation and processing of battery scrap in India is ruled by the Hazardous Wastes Rules, 1989 and the measures are issued by ministry of environmental & forest under the Environment Protection Act (EPA), 1986. Battery scrap is considered as hazardous waste. This can restrain the growth of the market.

Market Trends

  • Asia-Pacific region is the key region for battery scrap globally, as this region is projected to provide many opportunities to the new market players. China produced million tons of waste lead and battery scrap every year.
  • Europe Is expanding market for battery scrap. The effort for adapting clean energy and competitiveness of the automobile sector is critical for battery production.
  • Market players are adopting many strategies such as new product launch, acquisition, mergers, partnership, agreement and contract for development of their business.
  • On September 17, 2019, the company named American Manganese Inc., announced that Kemetco Research, the company’s independent contract lab started testing-part lithium-ion battery materials as a successive testing of the pilot plan project.
  • Umicore announced the acquisition of Freeport cobalt’s cobalt refining and cathode precursor operations in Finland in May 2019.
  •  Volkswagen announced the launch of a new experimental recycling facility near the company’s worldwide headquarters in Wolfsburg Germany. Over the next 10 years, Volkswagen wants to recycle nearly 97% of all raw materials used in battery packs in March 2019

Key Benefits of the Report

  • This study presents the analytical depiction of the battery scrap industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the battery scrap market share.
  • The current market is quantitatively analyzed to highlight the battery scrap market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed battery scrap market analysis based on competitive intensity and how the competition will take shape in coming years
 
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