Market Introduction
The Asia Pacific battery recycling market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Policymakers have framed several regulations regarding the effective utilization and disposal of waste battery materials, which are significantly contributing to the expansion of the battery recycling market. Such policies play a vital role in consumer product safety, safe handling, storage and treatment, reuse, recycling, and disposal of batteries used across various application bases. For instance, as per the Environmental Protection Agency (EPA), lithium-ion batteries deployed in products such as electronics and electrical appliances, consumer goods, electric vehicles, and electrical energy storage systems, should be handled and disposed of carefully. Single-use, non-rechargeable lithium metal batteries; and re-chargeable lithium-polymer cells (Li-ion, Li-ion cells) are categorized as two types of lithium batteries that are used by consumers base and require effective waste management to avoid environmental degradation. Various regulations and bodies involved in the recycling of lithium-ion batteries include The Japan Battery Recycling Centre (JBRC), and NEV battery recycling regulations (China). In September 2015, China implemented regulations related to the recycling of motive lithium-ion batteries, to encourage electric vehicles (EVs) manufacturers to establish their Li-ion battery recycling facilities. Hence, strict government regulations pertaining to disposal and battery waste management are expected to proliferate the demand for battery recycling. Additionally, increased government spending on advanced recycling facilities, along with the entry of multiple e-waste management startups and positive initiatives to incentivize structures for participants involved in battery recycling, is expected to bolster the market growth.
The COVID-19 pandemic has caused a significant economic loss in Asia Pacific. The uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. However, the market is expected to witness an increase in investment by existing players along with penetration of new players to tap the prevailing opportunities and cater to expanding investment in advanced battery recycling facilities in post-pandemic times.
Market Overview and Dynamics
The battery recycling market in Asia Pacific is expected to grow from US$ 7,905.16 million in 2021 to US$ 20,046.46 million by 2028; it is estimated to grow at a CAGR of 14.2% from 2021 to 2028. The increased production of lithium-ion batteries in Asia Pacific is also driving the battery recycling market in this region. There has been an increase in production as well as the adoption of lithium-ion batteries in the region, owing to their less self-discharging rate and capability to deliver superior performance relative to other rechargeable batteries. Along with this, properties such as capacity-to-weight ratio, better performance, and high energy density, as well as decreasing prices, have led to increased consumption of lithium-ion batteries in Asia Pacific. Moreover, lithium-ion batteries are considered to be used in the battery energy storage market as they require little maintenance; they are lightweight; and they have a reliable cycle life, high energy density regarding volume, and high charge/discharge efficiency. Lithium-ion batteries are also being used in the forklift industry as it provides an extra edge to the material handling applications, thereby helping in reducing the labor costs and improving productivity. Lithium-ion forklift?batteries can be fast-charged in cold temperatures (even inside freezers), and they can maintain their capacity in cold temperatures better than their lead-acid?counterparts. The increased application of lithium-ion batteries will lead to an increased need for the recycling of lithium-ion batteries in Asia Pacific.
Key Market Segments
Based on type, the lead acid battery segment accounted for the largest share of the Asia Pacific battery recycling market in 2020. Based on battery source, the automotive segment accounted for the largest share of the Asia Pacific battery recycling market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Asia Pacific battery recycling market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Aqua Metals, Inc.; Clarios; Contemporary Amperex Technology Co. Limited; East Penn Manufacturing Company; Exide Industries Limited; and G P Batteries International Limited.
Reasons to buy report
Asia Pacific Battery Recycling Market Segmentation
Asia Pacific Battery Recycling Market -By Type
Asia Pacific Battery Recycling Market -By Battery Source
Asia Pacific Battery Recycling Market – By Country
Asia Pacific Battery Recycling Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 7,905.16 Million |
| Market Size by 2028 | US$ 20,046.46 Million |
| CAGR (2021 - 2028) | 14.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Battery Recycling Market is valued at US$ 7,905.16 Million in 2021, it is projected to reach US$ 20,046.46 Million by 2028.
As per our report Asia Pacific Battery Recycling Market, the market size is valued at US$ 7,905.16 Million in 2021, projecting it to reach US$ 20,046.46 Million by 2028. This translates to a CAGR of approximately 14.2% during the forecast period.
The Asia Pacific Battery Recycling Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Battery Recycling Market report:
The Asia Pacific Battery Recycling Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Battery Recycling Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Battery Recycling Market value chain can benefit from the information contained in a comprehensive market report.
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