Lead acid Battery Scrap Market: Segment Overview to Expand at a CAGR of ~10% during the forecast period 2027
Lead-acid Battery Scrap Market: Key Highlights
The global lead-acid battery scrap market was valued at ~US$ 7.5 Bn in 2018, and is anticipated to expand at a CAGR of ~10% during the forecast period.
In terms of source, the motor vehicles segment accounted for a major share of the global lead-acid battery scrap market in 2018.
Asia Pacific is anticipated to be one of the high growth regions of the global lead-acid battery scrap market, led by the rise in the demand for batteries for bulk energy storage applications.
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The 100% recovery rate of lead-acid batteries is one of the key drivers of the lead-acid battery scrap market. In terms of recovery rate, lead is one of the most recycled materials across the globe. Currently, more than 50% of lead used in the production of new lead products, worldwide, is recycled. Hence, the ability to recover 100% lead and other useful materials from lead-acid batteries is likely to drive the demand for lead-acid battery scrap during the forecast period.
Increase in environment-related issues caused by batteries is another driver of the leadacid battery scrap market. Raw materials employed in the manufacture of lead-acid batteries, primarily lead, pose high threat to the environment. Improper disposal of batteries in landfills increases the chances of hazardous lead finding its way into groundwater and surface water sources. Thus, rise in the awareness about environmentrelated hazards is expected to drive the global lead-acid battery scrap market.
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