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Battery Recycling Market worth 11.83 Billion USD by 2022

by upasna · November 28, 2018


The Battery Recycling Market Global Industry Report was valued at USD 8.10 billion in 2016 and is projected to reach USD 11.83 billion by 2022 Cheap Sergio Busquets Jersey , at a CAGR of 6.5% from 2017 to 2022.


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The market is expected to witness growth in the coming years, owing to the large number of batteries in-use and strong demand from the replacement market. Extraction of the used battery for its raw materials coupled with the stringent environmental regulations imposed by the local and national governments has spurred growth in the battery recycling market.


Stringent government regulations, rising prices of metals and increasing demand for Energy Storage System is incentizing battery recycling Cheap Sergi Roberto Jersey , the market for recycling is expected to reach around USD 12 billion by 2022


Battery recycling is the reuse and reprocessing activity of spent batteries that aims to reduce the number of spent batteries being disposed of as municipal solid waste or material waste. Batteries contain several toxic chemicals and heavy metals and disposing them off as trash has raised environmental and health concerns over water pollution and soil contamination. Leading battery recycling companies includes Call2Recycle, Aqua Metals, and Umicore among others. Europe is the largest market for battery recycling due to the presence of stringent regulations in this region.


Stringent government regulations to control environmental hazards during battery manufacturing and disposal are driving the growth of the battery recycling market. Industry experts and key decision makers of the governments in many countries are stressing the need for systematic approaches for the recycling of batteries to achieve the higher recycling rates.


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The laws and regulations pertaining to the disposal and recycling of spent batteries vary from country to country as well as local governments. Globally Cheap Samuel Umtiti Jersey , the increasing government directives and regulations to curb pollution levels and controlling the greenhouse gas emissions will provide momentum to drive the battery recycling market.


Safety issues related to storage and transportation of spent batteries are the major restraints for the market.


Spent batteries contain hazardous chemicals including acids and heavy metals such as mercury and lead. In July 2007, a lithium battery fire resulted in more than 132,000 liters of chemicals being set on fire and closure of two major U.K. motorways.


It is mandatory to keep spent batteries in water tight containers and store them away from other flammable and combustible materials. It is also important to keep a Class D extinguisher and sand nearby as a precautionary measure in the event of a fire.


As spent batteries hold a residual charge Cheap Rafinha Jersey , there is a potential for unplanned discharge, which may result in injury or damage to the property and people. All batteries, unless there is proper labelling Cheap Paulinho Jersey , should be treated as holding a charge and stored with care. Some batteries are small enough to be ingested or swallowed and thus should be stored in a safe place away from the reach of children.


Extracting useful materials from the used batteries can help in regulating the price of new battery


Automotive Batteries


An automotive battery is an indispensable component of the powertrain of a vehicle, independent of the fuel used for its operation. It is used to power the electrical systems of the vehicle when the engine is turned off. It is also used to start the engine and to provide current for the ignition system and electric starter motor. The energy from the battery is also utilized when the electric requirement of the vehicle exceeds its alternator鈥檚 capacity. Majority of the vehicles use a 12V lead acid battery for these applications.


The rise in the use of automobiles and growing number of government regulations to recycle the batteries has fuelled the global demand


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