Future Market Insights have published a report evaluating the global lead acid batteries market and the forecast for the market to 2027. The report highlights the value of the lead acid batteries, the most widely used type of car battery, and its success in recycling the component parts but raises questions about the future impacts of alternatives.
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The Global Lead Acid Market Analysis report outlines that the global market is progressing positively as a result of developments in technology, with expansion of the lead acid battery market forecasting annual growth rate of 4.4% over the period 2017-2027. 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.
The growth forecast for this period is driven by the fact that lead acid batteries remain lower in cost than alternatives. And despite the rapid growth of electric mobility, with double the number of new electric car sales in 2018 than 2017 globally, the recycling capabilities of lead acid batteries contributes to their affordability and the success of the scrap lead-acid battery market. (https://www.iea.org/publications/reports/globalevoutlook2019/)
Whilst the report highlights the potential for growth in the alternative lithium-ion (li-ion) battery, as a result of declining costs, the global lead acid battery scrap market will continue to be driven by growing awareness of environmental issues. The environmental impact of the li-ion battery is high, reliant on a limited supply of rare earth metals and capable of volatility if damaged. Currently global infrastructure allows lead to be one of the most recycled materials across the globe with more than 50% of the lead used in production of new lead products being recycled. Modern, closed-loop battery recycling is estimated to keep roughly 122 million batteries a year from landfills, a currently unattainable outcome for li-ion batteries.
Elaine Murphy, Battery Trading Coordinator for Clarity Environmental, commented:
“As an approved exporter of lead acid batteries, we manage the recycling of scrap batteries and understand the importance of the growth of the lead acid battery market. Unlike many industries coming under fire for environmental malpractice, lead acid batteries are well established as a commodity and the value placed upon these materials, specifically the lead, is such that we see over 99% global recycling rates.”
“This latest report suggests continued growth will be seen in the immediate term, and despite the rise in electric vehicles, upward automotive production continues to drive global demand for lead acid batteries, whilst the increased awareness of the recycling capabilities ensures the scrap market continues to grow.”
If you are looking to recycle lead acid batteries, our team offers excellent market rates and free, prompt and reliable collections of scrap vehicle batteries across the UK. Get in touch with our team if you would like to arrange a collection of scrap lead acid batteries, or fill in our simple online collection form and a member of our team will get in touch.