battery scrap market
Battery scrap refers to discarded or used batteries that are no longer functional and are considered waste. Batteries are available in various types, including alkaline batteries, rechargeable batteries (such as lithium-ion batteries), lead acid batteries (commonly used in vehicles), and more. When these batteries reach the end of their useful life, they become battery scrap.
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Introduction The battery scrap market was valued at $35.2 billion in 2022, and is estimated to reach $83.7 billion by 2032, growing at a CAGR of 9.1% from 2023 to 2032. Battery scrap, often referred to as "battery recycling scrap" or "used battery scrap," specifically refers to discarded or used batteries that are no longer functional and are collected for recycling purposes. Battery recycling helps conserve natural resources, reduces the environmental impact of hazardous materials, and minimizes the need for new mining or extraction. It is important to dispose batteries properly by recycling them at designated collection points or facilities, as improper disposal can lead to pollution and harm the environment. The global shift toward cleaner and more sustainable energy sources, including electrification and renewable energy, drives the demand for batteries and, consequently, the recycling of used batteries. Report Overview
The battery scrap market scope is segmented on the basis of product type, source, end use, and region. By product type, the market is categorized into lead acid, lithium-ion, and others. By source, the battery scrap market analysis is classified into electric vehicles, consumer electronics, power tools, and others. By end use, the market is categorized into material extraction, reuse, disposal, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Based on product type, the lithium-ion segment held the highest market share in 2022, accounting for nearly half of the global battery scrap market share in terms of revenue, and is estimated to maintain its leadership status throughout the forecast period. Lithium-ion batteries are widely used in various applications, including consumer electronics, electric vehicles (EVs), renewable energy storage systems, and portable devices due to their high energy density and rechargeable nature. Report Overview
Key Findings Of The Study: On the basis of product type, the lithium-ion segment accounts for nearly half of the market share, in terms of revenue, in 2022. On the basis of source, the electric vehicle segments accounts nearly three- fifths of the market size, in terms of revenue, in 2022. On the basis of end-use, the material extraction segment accounts for nearly two- fifths of the market share, in terms of revenue, in 2022. Region-wise, Asia-Pacific accounts for nearly half of the market share, in terms of revenue, in 2022. Report Overview
The key players profiled in the report include: Li-Cycle Umicore HUSKY BATTERY SOLUTIONS ENGITEC TECHNOLOGIES SPA Sunlight Group Aqua Metals Report Overview
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