Stakeholders in Lead-acid Battery Scrap Market See Sustainable Future for Automotive, Global Valuation to Touch Mark of US$ 19 Bn by 2027: TMR
- Defense and aerospace sector key revenue generator, scrap sellers consolidating their distribution channels with the help of support by regional governments, transportation high-value growth segment
- Multiple applications of lead-acid battery scraps spur e-recycling technologies in lead-acid battery scrap market, application of waste in making solar home appliances has emerged as a new growth avenue
ALBANY, N.Y, Dec. 3, 2020 /PRNewswire/ -- Lead-acid batteries have a high recycle value particularly for the production of lead, and hence the growth in the lead-acid battery scrap market underlies on the use of lead-acid batteries especially in the automotive industry and oil and gas industry There is an abundant demand for these in commercial vehicles especially passenger vehicles.
E-recycling methods have also substantially advanced on the back of governments' support, rise in investments by recyclers, and strides made in end-use industries. Also automakers in some key regions of the world, such as in Europe, are leaning on recycling lead-acid batteries to prepare for transitioning to production of electric vehicles on large scale.
Stakeholders eye substantial prospects in developing regions, driven by use of batteries in the electric power industry by tier 1 and tier 2 cities, and even in rural areas.
In relation to both revenue and incremental growth, the lead-acid battery scrap market will see a promising growth during 2019 - 2027, concurs analysts at TMR. Sustainable treatment processes and entering into strategic collaborations will pave way to potentially lucrative avenues in the market.
From 2019 to 2027, the global lead-acid battery scrap market is projected to clock CAGR of 10% and reach worth of US$ 19 Bn by the end of 2027.
Lead-acid Battery Scrap Market: Key Driving Factors and Promising Avenues
Abundant use of lead-acid batteries in a wide range of applications is a key driver for the prospects of lead-acid battery scrap market. Scraps are used in multiple end-use application such as in making solar devices
The market has witnessed a large momentum due to the growing trend of adoption of electric vehicles across the world. Lead-acid batteries are preferred over lithium-ion batteries in electric vehicles (EVs). The demand for renewable energy storage in EVs is a key factor in this.
Lead-acid battery scrap dealers have extensively focused on automotive industry.
Advances made in infrastructure for handling and recycling of lead-acid batteries have substantially expanded the avenue in the market.
Governments are keen on boosting the e-recycling rate. This has also boosted the market.
The growing demand for flooded lead acid deep cycle batteries for renewable energy storage is a key trend helping pave way to new chemistries in the lead-acid battery scrap.
The strides made in the lead industry are spurring substantial opportunities for players in the lead-acid battery scrap market. Proliferating demand for secondary lead among lead metal producers is boosting the market. They account for 55% share of the total lead production.
Advances made in minerals and metallurgy is another key driver for growth in the lead-acid battery scrap market.
Asia Pacific is a promising regional market and it held the major market share in 2018. Battery recyclers are keen on comply with the latest norms. China is a major country market in the region. Another prominent trend propelling opportunities in the regional market is the adoption of lead acid battery for large-scale storage, notably in tier 1 and tier 2 cities and increasingly in rural areas.
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Liquid Metal Battery Market - Based on metal composition in battery, the liquid metal battery market can be segmented into Mg-Sb battery, Pb-Sb battery, and Na-S battery. Sodium-sulfur (Na-S) batteries are partially molten-metal batteries. They can be used for storing energy for renewable applications, load leveling, or providing backup source. Raw materials required for producing Na-S batteries are relatively inexpensive; they are also abundantly available. However, the lifespan of Na-S battery is short due to degradation caused by the corrosive nature of its active ingredients viz. sodium and sulfur. Furthermore, usage of Na-S batteries has been limited to large-sized applications.
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