Chan Ye Xin Xi Wang·2025-12-22 01:16Core Viewpoint - The waste lead industry is experiencing growth due to the increasing volume of waste lead from lead-acid batteries, driven by the deployment of electric vehicles and energy storage systems, with a projected recovery volume of 2.9 million tons in 2024 and a market value of 48.5 billion yuan, reflecting a year-on-year growth of 9.2% [1][10]. Overview - Waste lead primarily originates from lead-acid batteries, which are widely used in electric two-wheelers, automotive start-stop systems, and backup power sources. The increasing deployment of new energy vehicles and energy storage systems is leading to a significant amount of batteries entering the waste cycle [1][10]. - Waste lead is classified as hazardous waste under the National Hazardous Waste List (2025 Edition), requiring strict compliance with environmental regulations for its treatment and disposal [2][4]. Market Policy - The Chinese government has issued multiple policies to support the development of the waste lead recycling industry, creating a favorable policy environment for growth [5][6]. Industry Chain - The waste lead industry in China features a clear "recovery-recycling-application" closed-loop model, with upstream focusing on waste lead resource recovery, midstream on recycling lead smelting, and downstream on the application of recycled lead [7][9]. Current Development - The demand for waste lead is expected to remain strong due to the continued use of lead-acid batteries, with the recovery volume projected at 2.9 million tons in 2024, a recovery value of 48.5 billion yuan, and a recovery price of 16,725 yuan per ton, marking increases of 9.2%, 12.2%, and 7.0% respectively [1][10]. Competitive Landscape - The waste lead market in China is becoming increasingly competitive, with major companies like Henan Yuguang Gold Lead Co., Ltd., Zhejiang Fortune Holdings Co., Ltd., and others establishing a presence in the sector. Leading companies are leveraging a full industry chain approach to enhance their competitive edge [11][12]. - Henan Yuguang Gold Lead Co., Ltd. is recognized as a leader in the recycling industry, focusing on a circular economy and achieving significant revenue from lead products [13]. - Camel Group Co., Ltd. has developed a comprehensive recycling network for lead-acid batteries, ensuring stable raw material supply and contributing to its revenue growth [14]. Development Trends - The industry is expected to see continued consolidation, with smaller, less efficient players being eliminated or merged into larger firms, leading to increased market concentration [15]. - The shift towards low-carbon and intelligent technologies is anticipated, with traditional high-energy smelting processes being replaced by more environmentally friendly methods [16]. - The extension of producer responsibility will encourage lead-acid battery manufacturers to engage more deeply in the recycling process, creating a complete closed-loop industry chain [17]. - International competition and cooperation are expected to increase, with domestic companies striving to meet international standards and potentially expanding overseas [18].