Stratview Research has launched a market research report titled ‘Battery Material Recycling Market’ that is compiled by leveraging findings as well as insights about the market that helps businesses to stay ahead in the competitive market. It also helps the market players in selecting targets, guiding where to invest, giving users detailed information about company profiles, etc. This report provides reliable and accurate market data, that can work as the key to the growth of any business. The report estimates future trends, challenges, linchpins, opportunities, revenue and future sales count in the target market along with forecasting for 5 years.
According to this report, Battery Material Recycling Market is likely to witness an impressive CAGR of 10.0% during the forecast period. Major factors such as the growing automobile sector, escalating demand for smart devices and electronic gadgets and motor vehicle production, and high demand for Li-ion technology in electric vehicles are expected to fuel the growth of the battery material recycling market during the forecast period.
Market Segments' Analysis
Stratview Research has bifurcated the Battery Material Recycling Market by the following –
- By Material Type (Iron, Manganese, Nickel, Lithium, Cobalt, Lead, Electrolytes, Plastics, and Others)
- By End-User Type (Automotive, Consumer Goods and Electronics, Building & Construction, Aerospace & Defense, Packaging, Textile Industry, and Others)
- ByRegion (North America, Europe, Asia-Pacific, and Rest of the World)
Based on the material type, the market is segmented as iron, manganese, nickel, lithium, cobalt, lead, electrolytes, plastics, and others. Lead is projected to account for the largest share of the market during the forecast period owing to its ease of production without causing any reduction in quality. These are majorly extracted from car batteries, industrial forklift batteries, UPS batteries, and commercial batteries. Europe and Asia-Pacific are registered as the leading regions in lead recycling. Further, Iron was the second-most recycled material in 2019, which is mainly extracted from nickel-cadmium batteries. On the other hand, lithium accounted for a comparatively low share of the battery materials recycling market during the forecast period owing to the low weight composition of lithium in Li-ion batteries.
Based on the end-user type, the market is segmented as automotive, consumer goods and electronics, building & construction, aerospace & defense, packaging, textile industry, and others. Consumer goods and electronics are anticipated to account for a significant share of the market during the forecast period. Further, lead being the most recycled material in the process of battery recycling as it is reused in providing backup power in electronic equipment and automobiles for producing new batteries with high energy efficiency and reliability features is expected to fuel the segment’s growth over the forecast period.
In terms of regions, Asia-Pacific is estimated to account for the largest share of the market with China and India being the growth engines of the regional market during the forecast period. Factors such as China holding the first position with growing battery production and India holding the second position with ramping battery production to meet the demand for elevating domestic motor vehicle production in the regional market are expected to accelerate the battery material recycling market growth over the forecast period. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.
Wish to know more about the study? Click here to get a free sample.
This report on the Battery Material Recycling Market is one of the important tools with the help of which the users can obtain a well perspective and understanding of the target market and customer. The details in the report cover Covid19 impact on the market and also predicts how long will it take to recoup which aids in reducing business failures.
- Trend analysis, pricing, and competitive analysis are some of the vital factors covered in this report.
- This report consists of an in-depth analysis of the market to help businesses in improving decision-making.
- Battery Material Recycling Market report aims at evaluating future sales as well as trends for the prediction period of 5 years.
- This report helps to keep the users updated with key changes that take place in the present market.
With all this information provided by Stratview Research; market players can expand their business effectively. Stratview research also offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected] or Connect with our market experts at +1-313-307-4176.
No comments yet
Sign In / Sign Up