North American and European Li-Ion Battery Recycling Market 2022-2028 2019-2025

North American and European Li-Ion Battery Recycling Market 2022-2028 2019-2025

North America and Europe Li-ion battery recycling market is estimated to grow at a CAGR of 7.0% during the forecast period. The market growth is attributed to various pivotal factors such as the rising concerns regarding battery waste disposal coupled with stringent government regulations. Continuous increasing application of Li-ion batteries in multiple sectors is expected to create the demand for battery recycling in near future. The battery recycling is a process that aims to diminish the number of batteries being disposed as municipal solid waste. Batteries consist of various heavy metals and toxic chemicals such as nickel, zinc, lead, mercury, lithium, cobalt and cadmium. Therefore, disposing them as regular trash has raised uncertainties about soil contamination and water pollution. Due to the environmental concern regarding potential threats from unsafe disposal of used batteries, there is a huge demand for battery recycling including Li-ion batteries.

The government and private organizations in North America and Europe are making efforts to raise awareness among consumers and to promote battery recycling to protect the environment. In North America, a massive portion of the battery collection for recycling is performed through the Call2Recycle battery recycling and stewardship program. The program has around 16,000 public collection sites in the US and provides access to 86% of the country’s population. It has been in practice since 1994 and had recycled over 52 million kgs of battery till 2018. Around 3.2 million kgs of batteries were collected by the organization for recycling in 2018 which includes single-use lithium primary & alkaline carbon-zinc batteries and rechargeable Ni-Cd, Li-ion, Ni-MH & small sealed lead-acid batteries. Call2Recycle tends to promote battery recycling awareness through its partnerships with industry stewards and collection partners that include municipalities and retailers.

North America and Europe Li-ion battery recycling market is segmented on the basis of application, recycling process, and components. Based on the application, the market is segmented into automobile, industrial, consumer electronics, energy, and others.