Latin America Battery Recycling Market 2020-2028

MARKET OUTLOOK

A report on the Latin American battery recycling market depicts that the industry is likely to exhibit growth at a CAGR of 7.49% over the projected period 2020-2028.
Brazil, Mexico and the Rest of Latin America together form the battery recycling market in Latin America.

Various projects regarding the development of solar power generation are anticipated to be constructed in Mexico soon. As batteries are a major component of this industry, the growth in this segment will drive the battery market, thus creating business opportunities for the battery recycling market in the country.

Other application sectors that use batteries in Mexico are telecommunication, manufacturing, data centers,renewable power and oil & gas. By 2018, the US has imported about 20 million lead batteries from Mexico, out of which, many were produced by recycling American scrap batteries. Thus, the country is likely to have an increasing demand for the battery recycling market.

Apart from that, with the growth of other application sectors of batteries like data centers and the automotive industry, the country is expected to have a huge demand for batteries in the coming years, which in turn, is expected to increase the need for battery recycling.

The government of Colombia has been continuously launching initiatives for promoting the solar power sector and reducing the dependency on hydroelectric power. The deployment of solar power generation infrastructure will drive the demand for batteries, over the next few years, which will push the demand for battery recycling market in Colombia.

COMPETITIVE OUTLOOK

Some of the major players in the battery recycling market are Eco-Bat Technologies Ltd, Exide Technologies, Neometals Ltd, Raw Materials Company, Recupyl, Aqua Metals Inc, GS Yuasa International Ltd and Retriev Technologies.