USD 28.2 billion
Battery Materials Recycling Market Size, Share, and Growth Analysis
Battery Materials Recycling Market By Material Type (Iron, Cobalt), By End-User (Aerospace & Defense, Automotive), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15J2073 |
Region:
Global |
Published Date: February, 2025
Pages:
184
|Tables:
71
|Figures:
75
Format -
Battery Materials Recycling Market Insights
Global Battery Materials Recycling Market size was valued at USD 28.2 billion in 2023 and is poised to grow from USD 31.33 billion in 2024 to USD 72.72 billion by 2032, growing at a CAGR of 11.1% during the forecast period (2025-2032).
The global battery materials recycling market is witnessing significant growth driven by increasing awareness of environmental sustainability and the rising demand for electric vehicles and renewable energy solutions. As governments and industries worldwide prioritize eco-friendly practices, battery recycling has become a crucial aspect of the supply chain. Companies are investing in innovative technologies to recover valuable materials like lithium, cobalt, and nickel from used batteries, reducing the environmental impact and the need for mining new resources.
This market's expansion also reflects a broader shift towards a circular economy, where products and materials are recycled and reused, promoting a more sustainable future for energy storage solutions. Moreover, regulatory support and incentives are further encouraging market growth by promoting responsible battery disposal and recycling practices.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Cobalt
Fastest Growth
Cobalt
Growth Rate
11.1% CAGR
Global Battery materials recycling market ($ Bn)
Country Share for APAC Region (%)
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Battery Materials Recycling Market Segments Analysis
Global Battery Materials Recycling Market is segmented by Material Type, End-User and region. Based on Material Type, the market is segmented into Iron, Cobalt, Manganese, Plastics, Manganese, Lithium, Lead, Nickel and Electrolytes. Based on End-User, the market is segmented into Aerospace & Defense, Automotive, Textile, Consumer Goods & Electronics, Packaging and Building & Construction. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Material
Cobalt is the dominating material in the global battery materials recycling market. This is due to its significant presence in lithium-ion batteries, particularly in electric vehicle batteries. The high demand for electric vehicles has resulted in a substantial need for cobalt recycling to reduce supply chain dependence on new cobalt extraction and address environmental concerns associated with mining.
However, lithium is the fastest-growing material in the global battery materials recycling market. The growth is propelled by the surging popularity of lithium-ion batteries in various applications, such as electric vehicles and renewable energy storage. Recycling lithium from used batteries is gaining momentum as a sustainable solution, given the increasing emphasis on energy storage and the need to secure a stable lithium supply chain amidst growing global demand.
Analysis by Application
The automotive sector currently dominates the global battery materials recycling market. This is primarily due to the rapid electrification of vehicles and the surging demand for electric cars, which necessitates efficient recycling practices to recover valuable battery materials and reduce environmental impact.
Moreover, the fastest-growing application segment is the Aerospace and Defense (A&D) industry. As governments and organizations increasingly invest in renewable energy solutions and energy storage systems for resilience, the demand for recycled battery materials in this sector is rising significantly. The A&D industry requires reliable and sustainable battery solutions for various applications, including grid stabilization and portable power, driving its rapid growth in the recycling market.
Global Battery materials recycling market by Material
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Battery Materials Recycling Market Regional Insights
Asia Pacific dominates the global battery materials recycling market. This is primarily due to the region's substantial battery manufacturing industry, particularly in countries like China and South Korea, which generates a significant supply of end-of-life batteries. Additionally, the rapid adoption of electric vehicles and renewable energy technologies in Asia Pacific has further boosted the demand for battery materials recycling.
However, Europe is emerging as the fastest-growing region in the global battery materials recycling market. Stringent environmental regulations, ambitious sustainability goals, and strong government support for clean energy solutions have accelerated the growth of battery recycling initiatives in the region. The European Union's Battery Regulation, which enforces sustainable practices and mandates a high recycling rate for batteries, is a key driver for this growth. Additionally, the continent's commitment to electric mobility and green energy sources is fostering a thriving market for battery materials recycling.
Global Battery materials recycling market by Geography
- Largest
- Fastest
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Battery Materials Recycling Market Dynamics
Drivers
Environmental Sustainability
- Environmental sustainability is a significant driver in the battery materials recycling market. Increasing awareness of the ecological impact of batteries and the desire to reduce resource depletion and minimize electronic waste drive the demand for recycling. Governments, industries, and consumers are increasingly recognizing the importance of responsible battery disposal and recycling as a means to mitigate environmental damage and promote a circular economy.
Restraints
Technological Challenges
- One of the major restraints in the battery materials recycling market is the complexity of developing efficient and cost-effective recycling technologies. Extracting valuable materials from batteries, especially lithium-ion batteries, can be technically challenging and expensive. Innovations in recycling processes are essential to overcome these hurdles and make battery recycling more economically viable.
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Battery Materials Recycling Market Competitive Landscape
The competitive landscape in the battery materials recycling market is marked by a diverse array of companies vying for market share. These firms are distinguished by their technological expertise, operational efficiency, and sustainability practices. Established players leverage their experience and R&D capabilities to maintain a competitive edge, while newer entrants focus on innovative solutions and streamlined processes. Partnerships with battery manufacturers and strategic collaborations along the recycling value chain are common strategies.
Additionally, companies often emphasize certifications and compliance with environmental regulations to build trust and credibility with consumers and stakeholders. As sustainability gains prominence, firms are increasingly investing in research and development to refine recycling techniques and explore novel avenues for reutilizing battery materials.
This dynamic landscape underscores the industry's commitment to advancing eco-friendly practices while meeting the growing demand for battery recycling solutions.
Top Players in Battery Materials Recycling Market
- Redwood Materials (USA)
- Li-Cycle (Canada)
- Umicore (Belgium)
- Glencore (Switzerland)
- GEM Co., Ltd. (China)
- EcoBat Technologies (USA)
- Cirba Solutions (USA)
- Accurec Recycling (Germany)
- Neometals (Australia)
- American Battery Technology Company (USA)
- Fortum (Finland)
- RecycLiCo (Canada)
- Exide Industries (India)
- Gopher Resource (USA)
- Stena Recycling (Sweden)
- Aurubis (Germany)
- Boliden (Sweden)
- Gravita India (India)
- Gunvor (Switzerland)
Recent Developments
- In April 2023, Cirba Solutions signed a Memorandum of Understanding (MoU) with Honda to collect, process, and return recycled battery materials to be used as raw material for Honda's battery supply chain for application in future EV batteries.
- In February 2023, Contemporary Ampere Technology Co., Limited, Mercedes-Benz, and GEM Co., Ltd. signed a memorandum of understanding for the recycling of cobalt, nickel, manganese, and lithium metals from spent EV batteries of Mercedes-Benz and remanufacture them into battery cathode materials.
- In January 2023, Aqua Metals, Inc. announced its plans to develop a lithium battery recycling facility in Nevada (US), which can process more than 20 million pounds of lithium-ion batteries per year.
Battery Materials Recycling Key Market Trends
- Growing Emphasis on Closed-Loop Recycling: Closed-loop recycling involves the collection, recycling, and reuse of materials within the same industry, minimizing waste and reducing the need for new raw materials. This trend reflects a commitment to sustainability and circular economy principles, with battery manufacturers and recyclers working together to create a more environmentally responsible and resource-efficient battery supply chain. Closed-loop recycling not only reduces environmental impact but also enhances the economic viability of the battery materials recycling market.
Battery Materials Recycling Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global battery materials recycling market analysis, the market is currently experiencing robust growth, driven by the escalating global demand for electric vehicles (EVs) and renewable energy storage solutions. With a growing awareness of environmental sustainability, the need for responsible disposal and recycling of batteries has become paramount. Key industry players are investing in advanced technologies to efficiently extract and reutilize valuable materials from end-of-life batteries, further bolstering the market's growth trajectory. Looking to the future, the market is poised for significant expansion. As governments worldwide introduce stringent regulations to encourage recycling and reduce electronic waste, the recycling industry is set to benefit. Moreover, advancements in recycling processes and the development of novel materials recovery techniques will improve the economics of battery recycling, making it more accessible and cost-effective. The rising adoption of electric mobility and the transition to renewable energy sources will continue to fuel the demand for battery materials recycling. Additionally, innovative business models, such as closed-loop recycling and collaborative partnerships between battery manufacturers and recyclers, are likely to become more prevalent. In conclusion, the battery materials recycling market is on a trajectory of sustained growth, driven by environmental concerns, regulatory support, technological advancements, and the expanding EV and renewable energy sectors. As sustainability takes center stage in the global agenda, the future of battery materials recycling appears promising, offering both environmental benefits and economic opportunities for the industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 28.2 billion |
| Market size value in 2032 | USD 72.72 billion |
| Growth Rate | 11.1% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Battery Materials Recycling Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Battery Materials Recycling Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Battery Materials Recycling Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Battery Materials Recycling Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Battery Materials Recycling Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Battery Materials Recycling Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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