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The global battery manufacturing scrap recycling market was valued at $1.96 billion in 2022, and it is expected to grow at a CAGR of 16.89% to reach $10.63 billion by 2032. The battery manufacturing scrap recycling is a fast-expanding industry that deals with the manufacturing of scrap materials generated during the manufacturing process of battery cells. The market for these batteries is anticipated to expand rapidly as electric vehicles gain popularity, which will also fuel the expansion of the battery manufacturing scrap recycling technologies. In addition, there are a few key players who dominate the battery manufacturing scrap recycling market, including Umicore, BASF SE, Tenova S.p.A., and many more. Nonetheless, a large number of new competitors are anticipated to enter the market in the upcoming years, increasing competition and spurring additional growth and innovation. This report comes with 10% free customization, enabling you to add data that meets your specific business needs.
Market Lifecycle Stage
The global battery manufacturing scrap recycling market is in a growing phase. New trends, such as targets for ethical supply chain and decarbonization, increasing focus toward secondary battery materials, rising investments in recycling technologies, change in business models of companies due to climate action, increasing demand for lithium-ion batteries and raw materials across the value chain, and development of economic and environmental technologies, are further expected to provide opportunities for the market to grow in the coming years.Industrial Impact
Battery manufacturing scrap recycling market has a large industry influence since it provides numerous environmental and economic benefits. Furthermore, it has a significant effect on end-use sectors since it provides a plethora of benefits that can increase their efficiency, lower their costs, and give them a consistent source of important metals.With an increased worldwide focus on circular economic principles and the advancements in recycling technologies for the recovery of high-performance metals from manufacturing scrap, there is an increasing shift toward the demand and consumption of batteries such as lithium-ion in the end-use industries. Thereby creating demand for the recycling of battery manufacturing scrap. Additionally, the shift is more prominent in the automotive and energy sectors in regions such as China, Asia-Pacific and Japan, North America, and Europe.
Market Segmentation:
Segmentation 1: by Scrap Source
- Automotive Batteries
- Industrial Batteries
- Consumer Electronics Batteries
- Others
Segmentation 2: by Recycling Technology
- Hydrometallurgy
- Pyrometallurgy
- Others
Segmentation 3: by Application
- Automotive
- Electronics
- Energy and Power
- Aerospace and Defense
- Construction
- Others
Segmentation 4: by Region
- North America - U.S., Canada, Mexico
- Europe - Germany, France, Italy, Poland, and Rest-of-Europe
- U.K.
- Asia-Pacific and Japan - Japan, India, South Korea, Australia, and Rest-of-Asia-Pacific and Japan
- China
- Rest-of-the-World - Middle East and Africa and South America
Recent Developments in the Battery Manufacturing Scrap Recycling Market
- In February 2023, manganese-rich battery material technology for electric vehicles is being industrialized by Umicore. This significant achievement expands Umicore's wide spectrum of nickel, manganese, and cobalt (NMC) battery materials for exceptional productivity and long-range EVs. It also introduces a distinctly competitive technology to existing design-to-cost battery technologies for EVs.
- In September 2022, General Motors Co. and Lithion Recycling invested strategically in Lithion Recycling’s Series A fundraising round in support of a new strategic collaboration agreement between the two companies. This investment aims to create a circular battery ecosystem employing Lithion Recycling’s cutting-edge battery recycling technology.
Demand - Drivers and Limitations
Following are the drivers for the global battery manufacturing scrap recycling market:
- Increasing Government Regulations toward Battery Waste Management
- Growing Investment in Scrap Recycling from Battery Manufacturers
Following are the challenges for the global battery manufacturing scrap recycling market:
- Complexities Associated with Different Battery Chemistries
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different sources from where the batteries are coming for recycling and reaching their best potential globally. Moreover, the study provides the reader with a detailed understanding of the different battery chemistries and their assortments in different batteries employed in various end-use applications in industries such as aerospace, automotive, energy, and sports.Growth/Marketing Strategy: Business expansions, partnerships, acquisitions, collaborations, and joint ventures are some key strategies adopted by key players operating in this market. For instance, in April 2022, in Europe, Umicore and Automotive Cells Company (ACC) formed a strategic cooperation for EV battery materials. With the first commercial volumes anticipated in early 2024, the long-term arrangement will begin with an annual offtake commitment of 13 GWh to a significant platform of a European automaker.
Competitive Strategy: Key players in the global battery manufacturing scrap recycling market analyzed and profiled in the study involve battery manufacturing scrap recycling providers. Moreover, a detailed competitive benchmarking of the players operating in the global battery manufacturing scrap recycling industry has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies profiled have been selected based on inputs gathered from primary experts and analyzing the company’s coverage, product portfolio, and market penetration.Some prominent names in this market are:
- Fortum
- Brunp Recycling
- Hydrovolt AS
- Umicore
- Li-Cycle Corp.
- BASF SE
- Tenova S.p.A.
- Duesenfeld
- Aqua Metals Inc.
- Green Li-ion Pte Ltd.
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Table of Contents
1 Markets
2 Application
3 Products
4 Region
5 Markets - Competitive Benchmarking & Company Profiles
6 Research Methodology
List of Figures
List of Tables
Executive Summary
The global battery manufacturing scrap recycling market is estimated to reach $10.63 billion by 2032, reveals the premium market intelligence study. The study also highlights that the market is set to witness a CAGR of 16.89% during the forecast period 2023-2032.Battery manufacturing scrap recycling is rapidly gaining prominence with the growing consumer electronics and automotive industry due to its environmental benefits and sustainability advantages. Furthermore, battery manufacturing scrap recycling can be crucial in addressing the concern of essential raw material shortage through the supply of secondary resources.
USP of the Report
- Market ranking analysis based on product portfolios, recent developments, and regional spread
- Patent analysis and start-up landscape, including product adoption scenario
Analyst Perspective
According to Dhrubajyoti Narayan, Principal Analyst, 'Battery manufacturing scrap recycling is the technique of recovering priceless metals and other materials from manufacturing scrap generated during the production process of battery cells. This battery manufacturing scrap is mainly from cell manufacturers for automotive, consumer electronics, and industrial applications. The rising sustainable initiatives, increasing government funding, and focus on closing the loop for batteries are leading to the rise in recycling initiatives. Moreover, battery manufacturing scrap is the source for extracting metals with high purity and is also economical. Furthermore, the presence of a large number of battery chemistries needs focused technologies for recycling metals from battery manufacturing scrap.'Key Companies Profiled
Key players in the global battery manufacturing scrap recycling market analyzed and profiled in the study involve battery manufacturing scrap recycling providers. Moreover, a detailed competitive benchmarking of the players operating in the global battery manufacturing scrap recycling industry has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.The key players profiled in the report include Fortum, Brunp Recycling, Hydrovolt AS, Umicore, Li-Cycle Corp., BASF SE, Tenova S.p.A., Duesenfeld, Aqua Metals Inc., and Green Li-ion Pte Ltd.
Key Questions Answered in the Report
- What are the major trends along with key drivers, challenges, and opportunities for players in the global battery manufacturing scrap recycling market?
- How does the supply chain function in the battery manufacturing scrap recycling market?
- What are the major patents filed by companies active in the global battery manufacturing scrap recycling market?
- Who are the prominent players catering to the demand for the global battery manufacturing scrap recycling market, and what are their key offerings?
- With the development of technology and sustainable energy options, batteries are playing an increasingly vital role. It is crucial to understand how battery manufacturing scraps are recycled and the substantial contribution they can make to the circular economy. As a result, what are the critical stages of battery manufacturing scrap recycling?
- Which recycling technologies (by recycling technology), raw material scrap sources (by scrap source), and applications (by application) are leading in terms of consumption for the global battery manufacturing scrap recycling market, and which of them are expected to witness high demand during 2023-2032?
- Which regions and countries are leading in terms of consumption within the global battery manufacturing scrap recycling market, and which of them are expected to witness high growth during 2023-2032?
Companies Mentioned
- Fortum
- Brunp Recycling
- Hydrovolt AS
- Umicore
- Li-Cycle Corp.
- BASF SE
- Tenova S.p.A.
- Duesenfeld
- Aqua Metals Inc.
- Green Li-ion Pte Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 107 |
| Published | December 2023 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 2.61 Billion |
| Forecasted Market Value ( USD | $ 10.63 Billion |
| Compound Annual Growth Rate | 16.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
