Global Market Insights Inc, estimates that the recycled lead market is expected to grow over USD 19 billion by 2026. Harmful effects of lead mining on the environment and depleting lead ore resources will support recycled lead market outlook over the coming years. Government across the globe are proposing measures to reduce lead scrap and reuse lead acid batteries. Lead is touted to be the most preferred metal for recycling on account of its high recycling rate. There is a burgeoning demand to obtain lead oxides and pure lead for the purpose of reuse in lead acid batteries production.
Several manufacturers are undertaking innovative business strategies to recycle lead batteries. For instance, in 2020, US-based developer of advanced energy system, GlidePath Power Solutions partnered with Renewance Inc. to use a full life-cycle management platform, including repurposing and recycling batteries.
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While key commodities company, Multi Commodity Exchange of India Ltd. (MCX) recently announced plans to allow the delivery of locally recycled base metals such as recycled lead, against their future contracts to help make better price discoveries that are based on domestic factors.
Soft or pure lead, being the main product of lead recycling, is widely used in the production of lead acid batteries. Another by-product of lead recycling is lead oxide, which is used for manufacturing lead for new electronic parts, lead oxide and grids. Lead oxide is mainly used in anticorrosive compounds and pigments as well as lead ammunition. Rise in the restructuring of lead acid battery recycling by producers is anticipated to boost product demand in the upcoming years.
Secondary lead-based batteries are being adopted as a stationary energy source in renewable energy systems worldwide. These batteries are extensively used across household solar energy systems in developed countries. In emerging economies like South Africa, India, Nigeria and Malaysia, there is widespread use of secondary lead acid batteries (LABs) in wind and solar energy systems. Additionally, the application of lead is expected to be stable in the electronics sector.
Growth drivers of Recycled Lead Market are –
- Growing recycling rate of lead acid batteries
- Growing demand for uninterrupted power supply
- Mounting energy storage application across data centers and telecom industry
- Increasing demand for radiation shielding in healthcare industry
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One of the minor uses of secondary lead is in paints and coatings sector. Generally, lead based paints are not used for commercial and residential infrastructures, given to their toxic nature. They are mostly used for industrial applications. In Europe, lead based paints are only used for the maintenance and restoration of historical buildings and artworks. However, manufacturers are slowly replacing these paints with non-lead based pigments.
On a regional standpoint, the Latin America and Middle East & Africa recycled lead markets are poised to register significant growth over the forecast period. The demand for recycled lead in Africa is projected to witness impressive growth.
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