Market Size of Asia-Pacific Battery Recycling Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 10.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Battery Recycling Market Analysis
The Asia-Pacific battery recycling market is expected to register a CAGR of over 10% during the forecast period. The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
Over the medium term, the increasing upcoming investments in battery recycling and the growing battery electric vehicle production and sales are expected to drive the growth of the market studied. On the other hand, the high cost of recycling operations is expected to hamper the growth of the Asia-Pacific battery recycling market during the forecast period.
Nevertheless, product innovation and adaptation of the latest battery recycling technologies are expected to create lucrative growth opportunities for the Asia-Pacific battery recycling market in the forecast period. China is expected to dominate the market and is expected to register the highest CAGR during the forecast period. This growth is attributed to increasing investments and growing battery usage in electric vehicles (EVs).
APAC Battery Recycling Industry Segmentation
Battery recycling is the re-use and re-processing practice of batteries aimed at reducing the number of batteries disposed of as material waste. Batteries contain several poisonous chemicals and heavy metals. The dumping of batteries has attracted environmental concerns due to water and soil contamination. As such, batteries need recycling to comply with environmental and health benefits.
The Asia-Pacific battery recycling market is segmented by battery type and geography. By battery type, the market is segmented into lead-acid batteries, nickel batteries, lithium-ion batteries, and other battery types. By geography, the report examines the market studied in China, India, Japan, South Korea, and Rest of Asia-Pacific. For each segment, the market sizing and forecasts are provided in terms of value in USD billion.
| Battery Type | |
| Lead-Acid Battery | |
| Nickel Battery | |
| Lithium-ion battery | |
| Other Battery Types |
| Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific |
Asia-Pacific Battery Recycling Market Size Summary
The Asia-Pacific battery recycling market is poised for significant growth, driven by increasing investments and the rising production and sales of battery electric vehicles. The market, which experienced a downturn due to the COVID-19 pandemic, has rebounded to pre-pandemic levels. Despite challenges such as the high cost of recycling operations, advancements in battery recycling technologies and product innovations are expected to offer substantial growth opportunities. China is anticipated to lead the market, benefiting from its dominance in battery production and the growing demand for electric vehicles. The popularity of lithium-ion battery technology, particularly in the automotive and renewable energy sectors, is further propelling the market, as these batteries reach the end of their lifecycle and require recycling.
The market landscape is characterized by moderate fragmentation, with key players such as Exide Industries Limited, GS Yuasa International Ltd, Neometals Ltd, Contemporary Amperex Technology Co. Limited, and GEM Co. Ltd. actively participating. Recent developments, including strategic partnerships and investments in recycling facilities, underscore the region's commitment to enhancing battery recycling capabilities. Notable initiatives include Electra's collaboration with Marubeni to secure a stable source of black mass and ACE Green Recycling's plans to establish new facilities in Thailand and India. These efforts, along with China's ambitious projects to recover valuable materials from used batteries, are expected to drive the growth of the Asia-Pacific battery recycling market in the coming years.
Asia-Pacific Battery Recycling Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Battery Type
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2.1.1 Lead-Acid Battery
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2.1.2 Nickel Battery
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2.1.3 Lithium-ion battery
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2.1.4 Other Battery Types
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2.2 Geography
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2.2.1 China
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2.2.2 India
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2.2.3 Japan
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2.2.4 South Korea
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2.2.5 Rest of Asia-Pacific
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Asia-Pacific Battery Recycling Market Size FAQs
What is the current Asia-Pacific Battery Recycling Market size?
The Asia-Pacific Battery Recycling Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Battery Recycling Market?
Exide Industries Limited, GS Yuasa International Ltd, Neometals Ltd, Contemporary Amperex Technology Co., Limited. and GEM Co., Ltd. are the major companies operating in the Asia-Pacific Battery Recycling Market.
