SEATTLE (Recycling Monster): According to a latest study conducted by BCC Research, the global battery recycling market is projected to grow from $12.8 billion in 2025 to $19.8 billion by the end of 2030. This represents a CAGR growth of 9.2% during the forecast period.

The study found that the market for battery recycling is driven by a number of important variables, including the lack of rare earth elements, the rise in consumer electronics, electric cars, and data centers, the fall in lithium-ion battery prices, and stringent government emission rules.

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Lithium, cobalt, nickel, and other rare earth elements are scarce and challenging to mine. Battery recycling aids in the recovery of these priceless resources, lowering reliance on imports and mining. Recycled nickel and cobalt are over 30–40% less expensive than virgin metals, according to research.

However, the safety issues surrounding battery recycling and the increase in battery reuse are likely to provide obstacles to the anticipated expansion of the market.

The report claims that the Asia-Pacific region holds the greatest market share because of China's dominance in the global EV and EV battery market as well as stronger government laws about environmental pollution.