Battery Recycling Market Set for High Growth Due to Advancements in Lithium-ion Battery Technology

Battery recycling involves processing used batteries to extract materials that can be reused either in new battery manufacturing or other applications. The need for battery recycling is driven by the increasing price and limited global reserves of battery raw materials like lithium, cobalt and nickel. Battery recycling also helps reduce environmental pollution as batteries contain heavy metals like lead, cadmium and mercury which can contaminatesoil and water if disposed as waste. Lithium-ion batteries used in consumer electronics and electric vehicles are a major part of the current battery waste stream.

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