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The lead acid battery recycling market size is forecast to increase by USD 3.41 billion and is estimated to grow at a CAGR of 8.3% between 2023 and 2028. The report includes historic market data from 2018-2022. The market is witnessing a growing demand for stewardship collaborations for battery recycling, the increasing adoption of advanced recycling technologies, and favorable environmental regulations and policies.
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Increasing adoption of advanced recycling technologies is an emerging trend shaping the market growth. Advanced battery recycling technologies offer more efficient, environment-friendly, and cost-effective methods for recovering valuable materials from end-of-life lead-acid batteries, contributing to the sustainability of the industry. Advanced recycling technologies, such as hydrometallurgical and pyrometallurgical processes, enhance the efficiency of lead-acid battery recycling. Improved efficiency translates into higher rates of recovery of lead and other valuable metals, thus maximizing the economic benefits of recycling while minimizing the environmental impact. Innovative processes prioritize environmental sustainability by minimizing emissions, reducing waste, and utilizing cleaner methods.
Moreover, the adoption of environment-friendly lead-acid battery recycling technologies aligns with regulatory requirements and enhances the industry's reputation for responsible waste management. In conclusion, the increasing adoption of advanced recycling technologies by industry leaders, such as Exide Technologies, Umicore, and Aqua Metals, underscores a pivotal shift toward more sustainable, efficient, and environmentally responsible practices in the market, which will positively impact the growth of the lead-acid battery recycling market. Such factors are expected to drive the market growth during the forecast period.
The flooded lead acid batteries segment is estimated to witness significant growth during the forecast period. Flooded lead acid (FLA) batteries are the most commonly used type of lead-acid batteries. They incur the least cost per ampere-hour among the different types of lead-acid batteries available and thus are considered the most cost-effective solution. In FLA batteries, the plates are submerged in an electrolyte solution consisting of one-third of sulfuric acid by volume, with water making up the remaining part.
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Additionally, growing environmental awareness among consumers has led to increased demand for sustainable products and recycling practices. As consumers become more conscious of the environmental impact of their choices, the demand for responsibly recycled lead acid batteries is likely to rise. Thus, increasingly stringent environmental regulations, a growing emphasis on resource conservation, the availability of financial incentives for battery recycling, corporate sustainability initiatives, and rising consumer awareness of the environmental impact collectively foster demand for responsible and sustainable battery disposal practices, which, in turn, will fuel the growth of the market in the FLA batteries segment during the forecast period.
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APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC dominates the lead-acid battery recycling market due to the presence of several large lead-acid battery manufacturers and manufacturing units for lead-acid battery-powered equipment and automobiles in the region. APAC is the most populous region in the world and is the largest consumer of secondary batteries. The increasing consumption of lead acid batteries is attributed to rising disposable incomes and improving living standards in the region. Moreover, advances in battery recycling technologies enhance the efficiency of lead-acid battery recycling processes, making them more economically viable and environment-friendly. Innovative processes like hydrometallurgical methods and environment-friendly smelting techniques are gaining prominence, thereby reducing the environmental impact of lead acid battery recycling activities.
In addition, China's research on green battery recycling technologies focuses on minimizing emissions during the lead smelting process. India is exploring environmentally sound methods for the recovery of lead from used lead acid batteries, whereas Japan is implementing advanced battery sorting and recycling systems that emphasize resource recovery which can result in lead-acid battery recycling market expansion. Such advancements in the lead acid battery recycling process will positively influence regional market growth during the forecast period.
Increasing urbanization in emerging markets is notably driving market growth. The global population has been increasing continuously. Moreover, the world has been experiencing increased urbanization. Much of this urbanization will take place in Asia and Africa, resulting in massive economic, social, and environmental transformations. There exists a powerful link between a country's economic growth and urbanization. The growth in urbanization also signifies the growth in the middle-class population that represents mass consumption, driven by the growth in its spending capacity. This drives the consumption of almost all commodities and products. The expanding automotive sector, driven by urbanization, contributes significantly to the demand for lead-acid batteries. Urbanization leads to extensive infrastructure development, including the establishment of telecommunication networks, data centres, and renewable energy installations.
However, with the higher usage of lead-acid batteries in urban settings, there is a corresponding increase in the generation of end-of-life batteries. This necessitates efficient recycling processes to manage the environmental impact of hazardous materials in batteries and recover valuable resources. In conclusion, the symbiotic relationship between urbanization increased lead-acid battery usage, and the need for responsible waste management creates a conducive environment for the growth of the market during the forecast period.
High energy consumption associated with the pyro-metallurgy process in battery recycling is a significant challenge hindering market growth. Energy-intensive processes in lead-acid battery recycling refer to methods that require significant amounts of energy for the extraction and recovery of valuable materials from used lead-acid batteries. These processes, while crucial for resource recovery, can pose challenges in terms of their environmental impact and sustainability. One example of an energy-intensive process is pyrometallurgy. Pyrometallurgical recycling relies on elevated temperatures for the separation of components based on their individual melting or boiling points and solubility at specific temperatures. However, the drawbacks of the pyrometallurgy process include the need for high temperatures that frequently exceed 1000 degrees C and the consequent release of pollutants, such as volatile organic compounds (VOCs), tar, and ash.
Additionally, mechanical processes such as shredding and crushing, which are often employed in lead-acid battery recycling, can be energy-intensive if not optimized for efficiency. High-powered equipment used in these processes can consume significant amounts of electricity. Thus, high energy consumption associated with the pyrometallurgy recycling process can pose a major challenge to the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Lead Acid Battery Recycling Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ACE Green Recycling Inc. - The company offers lead acid battery recycling programs such as ACE Green Recycling, which provides sustainable, end-of-life solutions for batteries.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The lead acid battery recycling market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Lead Acid Battery Recycling Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.3% |
Market Growth 2024-2028 |
USD 3.41 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.98 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACE Green Recycling Inc., Aqua Metals Inc., Aurubis AG, Battery Recyclers of America, Campine n.v., COM2 RECYCLING SOLUTIONS, Contemporary Amperex Technology Co. Ltd., Ecobat LLC, EnerSys, ENGITEC TECHNOLOGIES SPA, Enva, Exide Industries Ltd., Gopher Resource LLC, Gravita India Ltd., Raw Materials Co. Inc., RECYLEX S.A, Teck Resources Ltd., Terrapure Environmental, The Doe Run Resources Corp., Tianneng Group, and Umicore SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Method
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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