Circular Economy of the Battery Recycling Market, Global, 2024–2030

Circular Economy of the Battery Recycling Market, Global, 2024–2030

Efficient Battery Reuse, Resource Recovery, and Digitalized Midstream and Downstream Operations Are Driving Transformational Growth toward the Green Transition and Sustainable Mobility

The massive demand for battery supply results in high consumption of resources, some of which are scarce. It is therefore essential to extend the battery life cycle through efficient collection, sorting, refurbishment, repurposing and reuse as well as to incorporate efficient battery recycling at the end of its life to support self-driving supply chains. The key developments supporting ongoing growth of the global battery market are the development of a complete, self-running, efficient, and transparent battery value chain, including sustainable sourcing of materials and components, use, reuse, selective collection at the end of life, and efficient recycling.

This study’s main objective is to help readers understand the major role of developing a circular economy in the battery industry across upstream, midstream, and downstream operations. The top 3 battery application segments, which comprise the 5 battery categories, analyzed in this study are transportation, stationary, and consumer electronics.

The analysis covers the volume of batteries generated by 5 top categories globally, current battery waste collection and recycling rates, and the potential for battery reuse (refurbishment, second use, and repurposing) and recycling market development. The revenue forecast dedicated to the development of a circular economy for batteries focuses on collection and transportation, sorting, reuse, and recycling. The growth analysis is based on the doing-more-with-less approach and the 6P framework that comprises policies, products, processes, people/personas, partnerships, and platforms.

The study assesses various technological advancements that help to push efficiency across the circular economy of batteries, including digitalization of the supply chains, manufacturing, use and reuse, and end-of-life management, with technologies and services such as digital material passport, life-cycle assessment tools, robotics, AI-based sorting, and data analytic platforms. The study also includes detailed analysis of key growth accelerators, with examples of companies to watch. The study period is 2020 to 2030 using a base year of 2023.