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Multi-billion battery recycling market to reach new heights by 2022

World – The global battery recycling market will be worth US$ 11.83 billion by 2022, up from US$ 8.10 billion last year. This represents a compound annual growth rate of 6.5% over the next five years.

The lead-acid battery chemistry segment led the Battery Recycling Market in 2016 and is projected to be the fastest-growing segment by 2022, according to new data by Markets and Markets. The extensive usage of starting, lighting, and ignition (SLI) batteries and VRLA batteries has further fuelled the growth of the market.

A different report providing a forecast about the same topic claims that growth in the international battery recycling sector may even be as high as 10.96% during the period 2017-2021. This increase is mainly due to the widening lithium supply-demand gap as well as more and more strict legislation support for battery recycling, points out the publication by 360 Market Updates.

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