The global automotive battery recycling market is projected to be valued at $19,222.3 million by 2028, surging from $10,530.0 million in 2020, at a noteworthy CAGR of 8.1%.

COVID-19 Impact on Automotive Battery Recycling Market
The coronavirus outbreak has brought several challenges for automotive battery recycling market owing to delayed investments in this capital-intensive industry. This industry is majorly driven by government funding and company investments. However, pandemic has brought economic crisis globally due to which all the major investments and funding were diverted towards healthcare sector. Hence, automotive battery recycling which is a part of energy & power industry has faced negative impact. Import-export restrictions, social distancing norms, closure of manufacturing & recycling plants, and supply chain disruption had led to piling up of batteries and some of them were dumped in the landfills. As automotive batteries contain several toxic chemicals, illegal dumping of batteries in landfills has led to emission of greenhouse gases and pollution. China, which is a major battery recycling hub, has faced tremendous impact owing to complete lockdown imposed across the countries and closed borders during first few months of COVID-19 pandemic. Recycling of batteries helps in recovering essential metals and minerals from used batteries such as cobalt, lithium, lead, and others. Due to closure of battery recycling plants, the extraction of cobalt and other metals was greatly affected.

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However, the automotive battery recycling companies have implemented far-reaching measures to ensure health & safety of their employees. For instance, Umicore, the leading battery recycling company, has implemented several measures to protect its employees and to ensure continuity in its operations. For instance, at the end of January 2020, the company introduced strict hygiene protocols and precautionary measures for its facilities in Asia and across the world. The workplace hygiene measures were tightened across all the Umicore sites to reduce the transmission risk within organization and to ensure workplace safety. Also, weekly meetings were held with the management and task force health professionals to keep track on COVID-19 situations across different countries.

Global Automotive Battery Recycling Market Analysis
The automotive battery recycling industry is gaining huge popularity as 85% of global lead consumption is used in the manufacturing of lead-acid batteries. These batteries are majorly used in motorized vehicles. However, improper of illegal disposal of end-of-life or discarded lead-acid batteries, raises environmental concerns. Hence, recycling of batteries is essential to keep harmful materials out of the environment. For instance, mercury and cadmium metals present in the batteries are most toxic to human health & environment. When batteries are disposed to landfill, they can leach out these toxic metals and other chemical that can enter waterways. Hence, recycling is efficient, economical, and environment-friendly way to solve this issue. In addition, lithium-ion batteries are likely to cause fire when they are exposed to high temperatures. Hence, proper handling, storage, disposal, and recycling are necessary to prevent such hazards. All these factors are anticipated to drive automotive battery recycling market size during the forecast period.

However, recycling of automotive batteries especially lead-acid batteries is a public health concern owing to toxic emission of lead and high level of occupational exposure to toxic chemicals. Also, at present, the safe level of exposure to lead is not known that can have detrimental impact on human health. These factors are anticipated to restrain the automotive battery recycling market share during the analysis timeframe.

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Various advantages associated with battery recycling that helps in recovering non-renewable resources including metals such as mercury, nickel, steel, zinc, lithium, silver, manganese, and others are estimated to generate huge growth opportunities. This is majorly owing to reduction in the amount of battery waste sent to landfills that helps in reducing greenhouse gas emissions and saves the energy spent on refining virgin materials. In addition, various regulations and transformation in transportation sector with rapid rise in the adoption of electric vehicles (EV) are other growth driving factors. For instance, in India alone, the sale of EVs is anticipated to grow at a compound annual growth rate (CAGR) of 35% by 2026. Hence, growth in the number of automotive vehicles has led to rapid increase in the amount of end-of-life and discarded batteries. Thus, it is necessary to keep a track of these batteries and ensure safe disposal. For instance, Japan Battery Recycling Centre (JBRC), established in 2004, keeps track of recycling of waste batteries. Also, in India, the Union government proposed recycling policy in October 2021, which is a first step towards circular economy for electric vehicles battery.

Global Automotive Battery Recycling Market, Segmentation
The global automotive battery recycling market is segmented based on type, recycling process, and region.

Type:

The type segment is further classified into lead-acid battery, lithium-ion battery, and others. Among these, the lead-acid sub-segment is anticipated to have a dominant market share and shall surpass $13,303.8 million by 2028, with an increase from $7,523.7 million in 2020. The recycling of lead-acid battery used in automotive sector is gaining huge popularity owing to public health concern associated with environmental emissions and a high level of occupational exposure to toxic chemicals such as lead. Also, lead-acid batteries are most widely used rechargeable batteries in the automotive sector because of its cheap cost. In addition, lead-acid batteries have highest recycling rate. For instance, in the U.S., the recycling rate of lead-acid battery is 100% whereas in Europe the recycling rate is as high as 95%.

Recycling Process:

The recycling process segment is further classified into hydrometallurgical process, pyrometallurgy process, and others. Among these, the hydrometallurgical process sub-segment is anticipated to have a dominant market share and shall surpass $14,436.0 million by 2028, with an increase from $7,745.9 million in 2020. This is because hydrometallurgical process is ideally suited for lean as well as complex ores. This is an efficient process with great control over each processing step that helps in recovering valuable by-products and makes handling of materials easier. It reduces environmental pollution and avoids the use of coke which is a costly reducing agent. In this process, even the waste liquor from recovery step can be recycled. Hydrometallurgical process can be implemented for both small scale and large-scale recycling of batteries which is estimated to attract huge growth opportunities.

Region:

The automotive battery recycling market for the Asia-Pacific region is anticipated to witness rapid growth. This region’s market generated a revenue of $7,158.3 million in 2020 and is projected to reach up to $13,474.8 million by 2028. Growth in battery recycling initiatives in this region is a major growth driving factor. For instance, in September 2021, Hydromet Solutions, India-based hydrometallurgy, mineral processing, and pyrometallurgy solution provider, planned to set-up lithium-ion recycling plant having a capacity of 1,000 tonnes per annum in Gujarat. Similarly, in June 2021, GEM Co, the China-based battery materials producers, planned $48 million towards recycling of battery-grade cobalt and nickel. With this investment, the company plans to recycle 10,000 tonnes of nickel and cobalt from used and end-of-life batteries. In addition, as stated on December 17, 2021, in Reuters, the international news organization, Huayou, the China-based cobalt maker partnered with Sichuan New Energy Power Co Ltd, the China-based chemical company, to produce lithium and to recycle the used and end-of-life batteries.

Key Players in the Global Automotive Battery Recycling Market
Some of the leading automotive battery recycling market players are
• Li-Cycle Corp.
• Retriev Technologies Inc.
• Umicore
• American Manganese Inc.
• Envirostream Australia Pty Ltd
• Raw Materials Company Inc.
• Contemporary Amperex Technology Co., Limited (CATL)
• Neometals Ltd
• Duesenfeld
• OnTo Technology LLC.
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

Porter’s Five Forces Analysis for the Global Automotive Battery Recycling Market:
Bargaining Power of Suppliers: There are few large suppliers in automotive battery recycling market and companies are dependent on these suppliers for procuring necessary raw materials. Thus, the bargaining power of suppliers is high.
Bargaining Power of Buyers: In this market, the concentration of buyers is growing day-by-day owing to availability of government funding private investments. Hence, buyers have less bargaining potential as majority of the automotive battery recycling companies are driven by government regulations and investments. Thus, buyer’s bargaining power will be low.
Threat of New Entrants: The threat of new entrants is low as huge capital investment is required in setting up the battery recycling unit. Also, import-export cost, transportation, storage, and safe disposal of batteries is capital intensive. Thus, the threat of the new entrants is low.
Threat of Substitutes: The presence of second-life batteries or reuse of batteries to power small portable devices instead of recycling batteries is estimated to restrain the market growth to some extent. Thus, the threat of substitutes is moderate.
Competitive Rivalry in the Market: The automotive battery recycling market players are focusing on acquiring investments and expanding their business to boost their automotive battery recycling capacity that helps in reducing the toxic emission of greenhouse gases. Therefore, competitive rivalry in the market is high.

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