Global Lead-acid Battery Scrap Market – An Overview
Set to grow at a healthy rate over the forecast period of 2019 to 2027, the global lead-acid battery scrap market is on its way to higher market worth. Due to a host of factors such as its multi-purpose application and high recycle value, demand is growing in telecom and automotive industry. It is significant to note here that while the metallic components are melted and re-casted to make products useful for varied industries, the paste in battery is used to make new ones.
Below are mentioned factors, trends, and drivers that are propelling growth in the global lead-acid battery scrap market.
- One of the biggest propellers of growth in the lead-acid battery market is development in transportation industry. As technology has advanced, energy storage application has moved forward. Thus, it does not come as a surprise that expansion in passenger cars demand, commercial vehicle demand, and motorcycles demand is leading to higher demand for these batteries, as profit margins improve. This is also paving way for growth in global lead-acid batter scrap market.
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- Additionally, it is worth noting that use of these batteries in uninterruptible power source is also paving way for growth in the scrap market of lead-acid batteries. As demand for UPS increases in chemicals industry, banking, and oil and gas industry, global lead-acid battery scrap market charts a notable growth trajectory.
- There has been solid growth noted in the automotive industry of a number of countries. These include Vietnam, Indonesia, Brazil, Thailand, Mexico, and South Korea. As demand for transportation that does not hurt the environment increases, demand for electric automobiles sees an upward growth curve. This is paving way for use of lead-acid batteries, driving the global lead-acid battery scrap market higher over the forecast period.
Lead-acid Battery Scrap Market: Lucrative Opportunities in Automotive Sector
The lead-acid battery scrap market is estimated to grow at a healthy rate due to its high-recyclable value and multi-purpose applications in industries such as automotive, electric power industry, and the telecom sector. Whether lead-acid batteries are completely or partially drained, the battery paste is reused to make new batteries, and the metallic components are sent for melting and casting to manufacture products used in various industries, which is creating new opportunities for lead-acid battery scrap dealers and suppliers.
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Lead-acid batteries have increasingly been used in the automotive sector. Since nearly three-quarters of lead-acid batteries are made of metal, and metal is easy to recycle, it yields a significant price as per volume per ton. Thus, the lucrative business of recycling is helping lead-acid battery scrap dealers further increase their business scope due to the hundred percent recycling rate of lead-acid batteries.
Since the automotive sector accounts for more than half of the lead acid battery scrap market share, stakeholders are aiming to maximize their business potential in various regions where the automotive business is currently flourishing. Due to a growth in the adoption of electric vehicles (EVs) in Europe, there is increasing demand from automotive manufacturers for recycled lead-acid batteries to manufacture EVs.
In spite of recycled lead-acid batteries being large in size and too heavy in relation to their capacity, automotive manufacturers are driving the demand for recycled lead-acid batteries in EVs due to their low-cost production and safe-to-recycle attributes, compared to lithium-ion batteries, which also serves as a solution for renewable energy storage in EVs. Thus, lead-acid battery scrap suppliers are leading towards a sustainable future for the automotive industry by transforming their company’s infrastructure facilities for the efficient handling and recycling of lead-acid batteries.
Efficacious Power Storage of Flooded Batteries: A Boon for Solar Industry
New chemistries in the lead-acid battery scrap landscape are boosting its sales potential in various industrial applications as a sustainable back-up power source. Similarly, the battery paste that is obtained during the collection and segregation of lead-acid battery scrap can be reused in solar home appliances, owing to its efficacious storage of solar power, creating new avenues of growth for lead-acid battery scrap market players.
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