The global battery recycling market continues to grow and was estimated to be worth $10 billion in 2017. According to new figures published by ‘Transparency Market Research’ the compound annual growth rate for the battery recycling market is expected to be around 11% through until 2026. This will mean a global market of $26 billion, by the mid 20’s.
In terms of battery chemistry, lead-acid was the dominant segment in 2017, accounting for more than 45% of the market in value terms. Whilst it is expected to continue to be the leading battery type in the next decade, the lithium-ion battery chemistry segment is anticipated to expand strongly as more products are powered by this versatile power source.
The automotive industry was the leading battery application last year. With the Victorian ban on batteries being put into landfill from July 2019, the focus on this important recycling segment will become more intense in the year ahead. It is highly likely manufacturers will need to take more responsibility for batteries that are put into their products.
Europe accounts for more than 40% of the global recycling market. Their growth can be attributed to the implementation of strict environmental regulations regarding battery recycling across the region. Whilst the Victorian ban on e-waste was deferred until next year, most commentators feel this was a positive step in helping community and local councils, through public education, prepare for the ban. It is generally accepted that more work need to be done on national stewardship programs for not only batteries but also all forms of e-waste,
Recycal and its sister companies are currently looking to innovate and invest in more e-waste recycling technologies in the battery recycling market. Equipment has already been purchased from Europe and will be commissioned in early 2019 to assist both its existing and new clients with their e-waste recycling needs.