by Recycled lead is a silver-colored metal primarily used in the manufacturing of batteries. Due to its chemical and physical properties such as high density, corrosion resistance, and electrical conductivity, lead is a crucial component in lead-acid batteries that power electric vehicles, emergency equipment, and back-up systems. Lead recycling conserves natural mineral resources and reduces energy consumption and emissions associated with mining primary lead.
The global recycled lead market is estimated to be valued at US$ 19.68 Bn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the recycled lead market include Aqua Metals, Inc., Boliden Group, Gravita India Limited, Eco Bat Technologies, Korea Zinc Co., Ltd., Mayco Industries, NYRSTAR, Recyclex S.A., SAR Recycling SA, Henan Yuguang Gold and Lead Co., Ltd., The Doe Run Company, and Mittal Pigments. With the growing automotive industry, increasing sales of electric vehicles, and rising demand for batteries to power vehicles as well as stationary energy storage systems, the consumption of recycled lead is expected to grow substantially over the coming years. Several companies are expanding their production capacities and global footprint to leverage new market opportunities. For instance, Gravita India is setting up additional recycling plants in the Middle East and Africa while Boliden is investing in new smelting facilities in Europe and North America.
Market Key trends
One of the key trends driving growth in the Recycled Lead Market Demand is the increasing use of recycled secondary lead in new lead-acid batteries. Lead recycling is economical as it reduces costs for battery manufacturers compared to using primary lead. It is estimated that currently around 99% of automotive batteries are recycled globally at the end of their useful life. Stringent environmental regulations regarding mining of new resources and the landfilling of used batteries are further boosting the secondary lead market. With the exponential rise in electric vehicles, recycling old lead-acid batteries is poised to become even more crucial to ensure supply security of this critical raw material.
Porter’s Analysis
Threat of new entrants: Entry barriers are moderate as capital requirement is moderate and technical capability is easily attainable.
Bargaining power of buyers: Buyers have moderate bargaining power as there are numerous suppliers and recycled lead has substitutes.
Bargaining power of suppliers: Suppliers have low bargaining power as raw materials such as copper scrap and spent car batteries are widely available.
Threat of new substitutes: Substitutes such as aluminum pose low threat as they don’t match properties and performance of lead in certain applications like batteries.
Competitive rivalry: Intense as market is fragmented with many global and regional players.
Geographical Regions
North America accounted for the largest share in terms of value in 2021 led by the presence of developed end-use industries such as transportation in the region. The growth of automotive and construction industries supplements market growth.
Asia Pacific is projected to witness the fastest growth during the forecast period. It is emerging as a hub for battery manufacturing owing to the presence of developing economies such as China and India with growing industrial and infrastructure development activities. In addition, government investments in renewable energy boosts regional market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
