The South Korea battery recycling market size was approximately USD 202.47 Million in 2024. The market is assessed to grow at a CAGR of 6.00% between 2025 and 2034, reaching a value of USD 362.59 Million by 2034.
Base Year
Historical Year
Forecast Year
Due to high nickel and cobalt prices, South Korean companies now rely on existing batteries for 40% of raw materials, allowing them to produce high-quality electronic products.
The level of public consciousness regarding the environmental consequences of battery disposal is increasing. This growing awareness is fuelling the need for sustainable and eco-friendly solutions for recycling batteries.
Several approaches are being evaluated, such as repurposing waste Li-ion batteries as an energy storage system or recovering metals (Li, Co, Ni) through hydrometallurgical and pyrometallurgical methods to reduce discarded batteries.
Value in USD Million
2025-2034
South Korea Battery Recycling Market Outlook
*this image is indicative*
Technological innovations in the process of extracting metals from used batteries are expected to boost the South Korea battery recycling market growth. For instance, the hydrometallurgical process of raw material extraction is ecofriendly and energy efficient. The method uses water-based solutions to extract essential metals from lithium-ion batteries.
As per the South Korea battery recycling market analysis, metals are expected to be the major recycling output. This is because they are used to manufacture second life batteries which are in huge demand in telecom and data centre backup services, behind the metre storage services, and front of the metre storage service sectors. They can also be used to power small electric vehicles like forklifts and golf carts to move goods and sporting equipment.
Lithium batteries are expected to account for a significant share of the battery recycling market due to their widespread use in electrical energy storage systems and consumer electronics products like wireless headphones, smartphones, hand-held power tools, toys, and small kitchen appliances, among others. They are also used in electric vehicles to power engines and reduce emissions. The South Korean company SungEel HiTech processes more than 8000 tonnes of lithium-ion batteries and metal scraps annually. It draws 830 tonnes of lithium phosphate from it which is deployed for other purposes across diverse industries.
South Korea Battery Recycling Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Material
Market Breakup by Recycling Process
Market Breakup by Processing State
Market Breakup by Chemistry
Market Breakup by Source
The market players are heavily investing in recycling infrastructure and facilities to enhance their capabilities and accelerate the transition towards circular economy.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the market reached an approximate value of USD 202.47 Million.
The market is estimated to grow at a CAGR of 6.00% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach a value of around USD 362.59 Million by 2034.
The market is driven by the growing research on the uses and applications of second life batteries and the growing need for sustainability in the battery manufacturing sector.
The key trends aiding the market expansion include the establishment of battery recycling units by companies, technological innovations, and increasing environmental concerns.
The different recycling processes are hydrometallurgy, pyrometallurgy, lithium-ion battery recycling process, and lead-acid battery recycling process.
The major segments based on battery chemistry are lead-acid battery, nickel based, and lithium based, among others.
The major players in the market are LG Corp. (LG Energy Solutions Ltd.), Samsung SDI Co. Ltd., SungEel Hitech Co. Ltd., Young Poong Co., Ltd., SK Ecoplant Co. Ltd., COSMO & Company Inc., Korea Zinc Inc., JaeYoungTech. Ltd., and Green Li-ion Pte Ltd., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Material |
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| Breakup by Recycling Process |
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| Breakup by Processing State |
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| Breakup by Chemistry |
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| Breakup by Source |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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