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Automotive Battery Recycling Market to Grow by USD 7.95 Trillion (2024-2028), Driven by Lithium Supply-Demand Gap and AI’s Influence on Market Trends- Technavio

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NEW YORK, Sept. 12, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global automotive battery recycling market  size is estimated to grow by USD 7.95 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.24%  during the forecast period.  Widening lithium supply demand gap is driving market growth, with a trend towards increasing demand for electric vehicles. However, involvement of high costs in automotive battery recycling  poses a challenge. Key market players include Accurec Recycling GmbH, Call2Recycle Inc., Contemporary Amperex Technology Co. Ltd., Duesenfeld GmbH, East Penn Manufacturing Co. Inc., Ecobat LLC, ENGITEC TECHNOLOGIES SPA, Exide Industries Ltd., Fortum Oyj, Glencore Plc, Li Cycle Holdings Corp., Redwood Materials Inc., SK Inc., SNAM Groupe, SungEel Hi Tech Co. Ltd., and Umicore SA.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Battery Type (Lead acid batteries, Lithium-ion batteries, Nickel-Metal Hydride (NiMH) batteries, and Others), Vehicle Type (Passenger cars, Commercial vehicles, and Electic vehicles (EV)), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

APAC, Europe, North America, South America, and Middle East and Africa

Key companies profiled

Accurec Recycling GmbH, Call2Recycle Inc., Contemporary Amperex Technology Co. Ltd., Duesenfeld GmbH, East Penn Manufacturing Co. Inc., Ecobat LLC, ENGITEC TECHNOLOGIES SPA, Exide Industries Ltd., Fortum Oyj, Glencore Plc, Li Cycle Holdings Corp., Redwood Materials Inc., SK Inc., SNAM Groupe, SungEel Hi Tech Co. Ltd., and Umicore SA

Key Market Trends Fueling Growth

The automotive battery recycling market is experiencing significant growth due to the increasing adoption of electric vehicles (EVs). By 2024, EVs are projected to represent a substantial percentage of new car sales globally, with companies like Tesla, Nissan, and BMW driving this trend. This shift results in an increasing volume of used lithium-ion batteries, which are vital components in EVs. The circular economy principle is shaping market dynamics, as recycling EV batteries enables the recovery and reuse of valuable materials such as lithium, cobalt, and nickel. This process reduces the need for new raw materials and minimizes waste, promoting environmental sustainability and addressing supply chain vulnerabilities. China, a major player in the EV market, has seen rapid growth in EV sales, leading to a rising demand for battery recycling solutions. European countries, including Germany, are also investing heavily in battery recycling infrastructure to support their push towards electric mobility. These factors are expected to fuel the expansion of the global automotive battery recycling market during the forecast period. 

The automotive battery recycling market is experiencing significant growth due to the increasing adoption of electric vehicles (EVs) and the need to address e-waste and climate change. Traditional Nickel-cadmium (Ni-Cd) batteries, which contain hazardous materials, are being replaced by advanced battery technologies in EVs. Battery recycling facilities play a crucial role in recovering heavy metals from spent batteries, reducing pollution and the need for gasoline production. Hydrometallurgy and pyrometallurgy are key processes used in battery recycling. The circular economy is driving the demand for recycling capacity, with a focus on recovering graphite, nickel, cobalt, and other valuable materials. The recycling of batteries from passenger vehicles and commercial vehicles is essential for sustainable transportation and reducing greenhouse gas emissions. Renewable energy storage, such as solar and wind power, also benefit from battery recycling. The battery recycling market is expected to continue growing as EV sales increase and battery technology advances, with a focus on energy density, charging capabilities, and pollution control. 

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Market Challenges

Setting up an automotive battery recycling plant involves significant initial investment. Advanced technologies are essential for efficient and safe handling of battery materials, increasing operational costs. Strict adherence to environmental and safety regulations, particularly in Europe, drives up operational expenses. Transportation and logistics are also critical factors due to batteries being classified as hazardous waste. Specialized handling and transportation methods increase costs and complicate logistics, especially for cross-border transportation. Furthermore, fluctuating prices of raw materials like lithium, cobalt, and nickel impact profitability, discouraging investment in this sector. These factors may hinder the growth of the automotive battery recycling market during the forecast period.The automotive battery recycling market is gaining significance due to the increasing adoption of electric vehicles (EVs) for sustainable transportation. However, the recycling of spent batteries from EVs and other electronic gadgets presents several challenges. These batteries contain valuable materials like nickel, cobalt, and rare earth metals, which can be reused in advanced battery technologies. However, they also contain hazardous materials like toxic chemicals, heavy metals, and flammable, corrosive, or radioactive substances. The collection and sorting of spent batteries is crucial for the battery recycling industry. Renewable energy storage, such as solar and wind power, also relies on batteries, increasing the demand for recycling. Lithium-ion batteries (LIB), lead-acid batteries, and sodium-sulfur batteries are common types requiring recycling. Recycling technologies include hydrometallurgical and pyrometallurgical processes. Despite the benefits, challenges remain, including the safe handling of hazardous materials and the prevention of chemical leakage. Environmental risks, such as soil pollution and landfill issues, must be addressed. Investment in R&D for safer and more efficient recycling processes is essential to minimize risks and maximize value. The battery recycling ecosystem must collaborate to ensure a circular economy for batteries, reducing waste and promoting sustainability.

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Segment Overview

This automotive battery recycling market report extensively covers market segmentation by

Battery Type1.1 Lead acid batteries1.2 Lithium-ion batteries1.3 Nickel-Metal Hydride (NiMH) batteries1.4 OthersVehicle Type2.1 Passenger cars2.2 Commercial vehicles2.3 Electic vehicles (EV)Geography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Lead acid batteries-  The automotive battery recycling market is growing due to increasing demand for recycled batteries and stringent regulations on battery disposal. Companies are investing in advanced technologies to recover valuable materials like lead, cadmium, and nickel. Recycling reduces environmental impact and saves resources, making it a profitable business opportunity for market participants. The market is expected to expand at a steady pace in the coming years.

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Research Analysis

The Automotive Battery Recycling Market is gaining significant attention due to the increasing adoption of sustainable transportation, particularly Electric Vehicles (EVs), and the need for energy efficiency and pollution control. Lithium-ion batteries (LIB), the most common type used in EVs, contain hazardous materials such as toxic chemicals, heavy metals, flammable, corrosive materials, and even radioactive materials. When these batteries reach the end of their life cycle and become spent, they pose a risk of chemical leakage, soil pollution, and landfill contamination. The battery recycling industry plays a crucial role in mitigating these environmental concerns by recovering valuable materials like cobalt, reducing greenhouse gas emissions, and minimizing the need for gasoline production. As EV sales continue to rise, the demand for advanced battery technologies with higher energy density and charging capabilities is increasing, making battery recycling an essential component of the circular economy and a critical step towards reducing climate change.

Market Research Overview

The Automotive Battery Recycling Market is a critical component of sustainable transportation as it focuses on the recycling of spent batteries from electric vehicles (EVs) and other applications. With the increasing adoption of EVs and advanced battery technologies, there is a growing need for energy efficiency, pollution control, and the sustainable management of hazardous materials. Spent batteries contain valuable materials such as nickel, cobalt, and rare earth metals, which can be recovered and reused in renewable energy storage systems, solar power, and wind power. The Battery Recycling Market encompasses various recycling technologies, including hydrometallurgical and pyrometallurgical processes, for the collection and sorting of spent batteries. The industry aims to mitigate environmental risks associated with hazardous waste, toxic chemicals, heavy metals, and flammable, corrosive, or radioactive materials. Lithium-ion batteries (LIB), lead-acid batteries, sodium-sulfur batteries, and nickel-cadmium (Ni-Cd) batteries are among the batteries targeted for recycling. The battery recycling ecosystem is essential for reducing the environmental impact of e-waste and minimizing the need for primary resource extraction. The Automotive Battery Recycling Market is driven by the increasing demand for electric vehicles, climate change mitigation, and the circular economy. The market also faces challenges related to battery disposal, battery recycling facilities, and the complex recycling process. Investment in R&D for advanced recycling technologies and the expansion of recycling capacity are crucial for the growth of the Automotive Battery Recycling Market. The market also plays a significant role in reducing greenhouse gas emissions from gasoline production and promoting the adoption of sustainable fuels.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Battery TypeLead Acid BatteriesLithium-ion BatteriesNickel-Metal Hydride (NiMH) BatteriesOthersVehicle TypePassenger CarsCommercial VehiclesElectic Vehicles (EV)GeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Supreme Court Justice Michelle O’Bonsawin Joins Elementary Students for Live Virtual Q&A and Chapter One Storybook Reading on Sep. 24

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September 21, 2024

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The Honourable Justice Michelle O’Bonsawin, the first Indigenous person appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A on September 24, from 1:00-2:15 pm ET, following a reading of the children’s storybook, “Daanis the Judge.” This event is hosted by Chapter One, a children’s literacy charity, to commemorate the National Day for Truth and Reconciliation. Lawyer Victoria Perrie, writer of “Daanis the Judge,” will read aloud the inspiring story, which is based on Justice O’Bonsawin’s remarkable journey. Illustrator EJ Miller-Larson will join Justice O’Bonsawin and Perrie in a moderated Q&A session with over 1900 elementary students.

TORONTO, Sept. 21, 2024 /PRNewswire-PRWeb/ — The Honourable Justice Michelle O’Bonsawin, the first Indigenous person to be appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A following a live online reading of the original children’s storybook “Daanis the Judge,” on September 24, from 1:00-2:15 pm ET. The event will be hosted by Chapter One to mark the National Day for Truth and Reconciliation. Chapter One is a children’s literacy charity that provides 1:1 high-impact reading tutoring and co-creates original storybooks with participating communities nationwide.

“I am very humbled and proud to be a part of the book, “Daanis the Judge.” My hope is that this book will inspire youth to dream big and know that anything is possible. I am evidence of that!” – Justice Michelle O’Bonsawin

Métis-Cree lawyer Victoria Perrie, who wrote “Daanis the Judge,” will lead the live reading. Students will ask questions during a moderated Q&A with Justice O’Bonsawin, Perrie, and illustrator EJ Miller-Larson, of the Fond du Lac Band and Oneida Nation.

“Daanis the Judge” was inspired by Justice O’Bonsawin’s trailblazing career. It tells the story of a young student, Daanis, who dreams of becoming a judge after learning about Justice O’Bonsawin’s achievements.

The story is part of Chapter One’s growing collection of original children’s e-storybooks, co-created with Indigenous writers, illustrators and communities. The e-storybooks celebrate Indigenous experiences and perspectives, and feature audio clips of Elders pronouncing foundational words in their communities’ first languages. All e-storybooks are provided for free through the Global Free Library.

About Chapter One

Chapter One (chapterone.org/ca) is a global nonprofit and registered Canadian charity that provides one-on-one early literacy tutoring programs to 2,300 children in eight provinces and territories across Canada. Its proven “short burst” high-impact tutoring approach—five-minute sessions, three to five times a week—is ideally suited to young children’s attention spans and aligns with the Science of Reading. In one of the largest randomized control trials conducted on early literacy instruction, researchers from Stanford University found that 7 out of 10 students receiving Chapter One high impact tutoring achieved phonics benchmarks by the end of Kindergarten, compared to 32% in the control group.

Children at risk of reading failure receive 1:1 reading support from trained, paid paraprofessional tutors through Chapter One’s online reading platform and custom software. Programs are delivered in-person and virtually in classrooms through agreements with schools and school boards, and at home on families’ smartphones, connecting struggling readers with individualized reading support—regardless of location and circumstance, even in some of the most geographically remote communities in Canada.

In addition to its tutoring programs, Chapter One collaborates with Indigenous communities to co-create children’s stories that represent the communities’ priorities and experiences and advance language revitalization efforts. The e-storybooks are provided for free online, as part of the Global Free Library.

Event details

The Live Virtual Q&A and Reading of “Daanis the Judge” with the Honourable Justice O’Bonsawin takes place on Tuesday, September 24, from 1:00-2:15 pm ET via Zoom. The event is open to elementary classes (Grades 1-6). Teachers/principals must register their classes in advance using this link.

Media Contact

Denise Orosa, Chapter One Canada, 1 4374224825, denise.orosa@chapterone.org, chapterone.org/ca

View original content to download multimedia:https://www.prweb.com/releases/supreme-court-justice-michelle-obonsawin-joins-elementary-students-for-live-virtual-qa-and-chapter-one-storybook-reading-on-sep-24-302254639.html

SOURCE Chapter One Canada

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PEAC Institute Launches “24 Hour Pause for Peace: A Global Concert”

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September 21, 2024

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24 Hour Pause for Peace Will Be the Largest Peace Initiative Ever Worldwide, Unifying 96 Countries on Six Continents Through Music

MONTCLAIR, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — On this International Day of Peace, PEAC Institute, part of the 2017 Nobel Peace Prize winning team, has launched “24 Hour Pause for Peace: A Global Concert,” the largest peace initiative ever organized worldwide through music.

“Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.”

On October 4, 2025, this ground-breaking program will activate a massive network of youth ensembles that spans 96 countries and territories across six continents and host two 24-hour commercial festivals featuring some of the biggest acts in music and entertainment. This extraordinary day-long event will be live-streamed globally, allowing millions to participate simultaneously.

“It has been 40 years since Live Aid and We Are the World historically unified and changed the world through music,” said Rebecca Irby, president and CEO of PEAC Institute. “With our planet riddled with post-pandemic fatigue, climate chaos, unsettling wars and more, we believe it is time to create a new trajectory for humanity by inviting everyone around the globe to a 24 hour pause for peace to enjoy the sounds of music and feel the transformative power of human connection,” Irby explained.

Additionally, 24 Hour Pause for Peace plans to amass more than 100 million ambassadors to sign an appeal to the United Nations calling for a 24 hour ceasefire during the children’s concerts and commercial music events. All countries are welcome to participate with no exceptions. One of Pause for Peace’s core beliefs is everyone has the right to be equally respected and heard, particularly in collectively calling for peace.

“Achieving this ambitious global endeavor requires the support and participation from the most impactful brands, organizations, and influential leaders, artists and celebrities,” said Jennifer McKenna, 24 Hour Pause for Peace CEO.

Pause for Peace is a $165 million global initiative. Currently, it is in its first phase of raising seed capital through consumer brand-aligned sponsorships and private donors. Funding for the program is tax-deductible through PEAC’s 501(c)(3) status.

“We have assembled an exceptional executive team of change agents in entertainment, production, consumer marketing, charitable development and global security to make this extraordinary, worldwide peace event happen.” McKenna added. “Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.” To become involved in 24 Hour Pause for Peace: A Global Concert as a sponsor, partner or donor, sign up to be an Ambassador, or for more information, go to www.24hourpauseforpeace.org.

About PEAC Institute

PEAC Institute is a 501(c)(3) nonprofit organization based in the United States. PEAC stands for peace, education, art and communication. It was formed in 2016 through a campaign with partner organization, International Campaign to Abolish Nuclear Weapons (ICAN), which garnered a 2017 Nobel Peace Prize. PEAC now holds special consultative status with the Economic and Social Council of the United Nations and has a global presence working with countries and territories worldwide to reach the most marginalized youth through art and communication activities to help them explore and express. For more information on PEAC Institute, go to www.peacinstitute.org.

Media Contact

Chadwick Boyd, Pause for Peace, 1 4046060611, chadwick@24hourpauseforpeace.org, www.24hourpauseforpeace.org

View original content to download multimedia:https://www.prweb.com/releases/peac-institute-launches-24-hour-pause-for-peace-a-global-concert-302254527.html

SOURCE Pause for Peace

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Global Times: China opens 12 nuclear research facilities to global scientists

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September 21, 2024

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The involved facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

VIENNA, Sept. 21, 2024 /PRNewswire/ — China will open 12 nuclear research facilities and testing platforms to international scientists and institutions to enhance global cooperation, a senior Chinese official said here on Monday.

These include the China Advanced Research Reactor, the new-generation tokamak device Huanliu-3, and the Beishan Underground Research Laboratory, Liu Jing, vice chairman of the China Atomic Energy Authority (CAEA), said at a meeting on the sidelines of the International Atomic Energy Agency’s (IAEA) annual general conference.

The facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

Monday’s meeting, themed “Share for Development,” was organized by the CAEA to promote international cooperation in nuclear technology research and development, as China marks the 40th anniversary of its accession to the IAEA.

Yu Jianfeng, chairman of China National Nuclear Corporation, said at the event that the company aims to deepen cooperation with the IAEA and expand international collaboration. He expressed hope that opening China’s nuclear research facilities will contribute to advancing nuclear technology globally.

IAEA’s Deputy Director General Mikhail Chudakov commended China’s remarkable achievements in nuclear energy development and highlighted the long-standing, fruitful relationship between the IAEA and the CAEA.

Welcoming China’s decision to open up more of its nuclear research and development facilities, Chudakov said the move will further strengthen the agency’s technical capacity to support its member states.

On Monday evening, the CAEA and China’s permanent mission to the United Nations (UN) and other international organizations in Vienna jointly held a reception at the UN headquarters in Vienna to celebrate the 40th anniversary of China’s accession to the IAEA. More than 200 participants, including IAEA representatives and foreign envoys to Vienna, attended the event.

Li Song, China’s permanent representative to the UN and other international organizations in Vienna, said at the reception that China and the IAEA have expanded practical cooperation and jointly promoted the development of nuclear energy over the past 40 years.

China, he said, will continue to strengthen collaboration with the IAEA and its member states to address emerging challenges in international security, safeguard the global non-proliferation regime, and promote the use of nuclear energy and technology for the benefit of the Global South.

At the reception, Liu, Li and IAEA Director General Rafael Grossi jointly unveiled a bronze statue of Qian Sanqiang, a renowned Chinese nuclear physicist and one of the founders of China’s nuclear industry.

The statue, donated by China, will be permanently displayed at the IAEA headquarters, alongside sculptures of Polish-French physicist Marie Curie and other prominent figures who have made significant contributions to the peaceful use of nuclear energy.

Contact: xutianshu@globaltimes.com.cn

View original content:https://www.prnewswire.com/news-releases/global-times-china-opens-12-nuclear-research-facilities-to-global-scientists-302254830.html

SOURCE Global Times

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