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Several factors such as the availability of raw materials, presence of battery manufacturing facilities, availability of government support, and level of technology development determine regional competitiveness.

Regions with better availability of raw materials for battery recycling, such as lithium and cobalt, or manufacturing facilities that are likely to have battery recycling facilities.

The regions today considered to be  leaders in battery recycling are:-

• China is the world’s largest producer of lithium-ion batteries with a large number of battery recycling facilities.
• South Korea is a major producer of electronics and is known for its number of battery recycling facilities.
• Japan is also a major producer of electronics and is equipped well with several battery recycling facilities.
• Europe is also home to a number of battery manufacturing facilities with several battery recycling facilities.
• The United States is also home to a number of battery manufacturing facilities and starting to develop a battery recycling industry.

Australia and Canada are also emerging leaders in the battery manufacturing industries. The regions are also equipped with good availability of raw materials and are also investing in battery recycling technology development.

If we compare the battery recycling market in Asia,

China

• The world’s largest producer of batteries with the largest battery recycling market in Asia with good availability of raw materials such as lithium and cobalt.
• The Chinese government offers financial incentives for battery recycling to make it more attractive for businesses to invest in the industry.
• China is also heavily invested in the development of battery recycling technology in more efficient and cost-effective ways.

South Korea

• One of the major producers of electronics with a significant battery recycling market.
• The South Korean government also offers financial incentives for battery recycling.
• The country is investing heavily in the development of battery recycling technology.

India

• A major consumer of batteries with significant growth in the battery recycling market in the coming years.
• The Indian government also announced recent plans to promote battery recycling to attract investment in this industry.
• India is still developing battery recycling technology with a growing interest in this area.

Indonesia

• One of the major producers of nickel, a key raw material for battery production. It is expected to drive the growth of the battery recycling market in the coming years.
• The Indonesian government also announced recently to promote battery recycling plans to attract heavy investments from the industry.
• The country is also developing its battery recycling technology with a growing interest in the area.
• The country is rich in raw materials such as nickel for battery recycling.

Source: AlliedMarketResearch, globenewswire