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Battery Materials Recycling Market Regional Trend & Analysis | Global Industry Report, 2019-2025

Author : Rahul Varpe | Published Date : 2019-09-30 

The Battery Materials Recycling Market study by Global Market Insights, Inc., is a collation of valuable insights related to market size, market share, profitability margin, growth dynamics and regional proliferation of this business vertical. The study further includes a detailed analysis pertaining to key challenges, growth opportunities and application segments of the market.

The global battery materials recycling market has been gaining significant traction in recent years as more and more enterprises have started to adopt sustainable practices. With organizations becoming increasingly aware of the impact their operations have on the environment, they have been seeking ways to reduce & eventually eliminate their part in environmental degradation.

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Moreover, with the projected decline of fossil fuels, renewable energy sources are rapidly becoming the preferred method of generating energy. Similar to how barrels & storage tanks were to fossil fuels, batteries are fast becoming the go-to method of storing, transporting and utilizing the electric power generated through those renewable energy sources, providing a commendable impetus for the development of battery technologies.

However, batteries possess a number of glaring drawbacks; they are quite expensive to make, have of a relatively short lifespan and are considered hazardous solid waste as they contain several harmful chemicals, making their disposal a daunting challenge for the industries that use them. As the number of expired batteries continues to grow by the tonnage, providing a lucrative growth opportunity for several recycling enterprises, the global battery materials recycling industry share is bound to witness an upsurge. Supported by government regulations and initiatives, the efforts of these enterprises are expected to propel the battery materials recycling market growth in the coming years.

Battery Materials Recycling Market, end user

  • Automotive
  • Consumer goods and electronics
  • Building & construction
  • Aerospace & defense
  • Packaging
  • Textile industry
  • Others

Impact of the European Union’s Batteries Directive on battery materials recycling market

The European Union has been a proponent for environmental protection for a while now and has been actively promoting the adoption of renewable energy sources.

The Commitment: The region’s commitment to protecting the environment is also apparent from the fact that the European Commission has had a piece of EU legislation that is specifically dedicated to batteries, which aims to minimize the adverse effects of batteries & waste batteries on the continent’s environment.

The Numbers: According to the European Commission, on an annual basis, approximately 800,000 tons’ worth of automotive batteries, 160,000 tons’ worth of consumer batteries and over 190,000 tons’ worth of industrial batteries enter the European Union.

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The Opportunity: The sheer scale of the import presents an extremely profitable opportunity for battery recycling enterprises which, with the help of the EU’s environmental & sustainability directive, are expected to majorly fuel the growth of the Europe battery materials recycling market.

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Read more news - https://www.marketwatch.com/press-release/printing-toners-market-by-2024-expanding-at-62-cagr-2019-09-30

 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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