Battery Waste Market to Witness Comprehensive Growth by 2032

Battery waste, often referred to as "battery recycling waste" or "used battery waste," 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 battery waste 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.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞: https://www.alliedmarketresearch.com/request-sample/14187

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. However, challenges such as handling hazardous materials and recycling costs act as a major restraint for the battery waste market growth. Moreover, rise in demand for electric vehicles (EVs) and energy storage is anticipated to offer battery waste market opportunities for the development in the coming years.

The battery waste 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 waste 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 waste 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: https://www.alliedmarketresearch.com/battery-scarp-market-A13818

Based on source, electric vehicle segment held the highest market share in 2022, accounting for nearly three-fifths of the global battery waste market size in terms of revenue, and is estimated to maintain its leadership status throughout the forecast period. Electric vehicles (EVs) contribute to the battery waste market primarily through the replacement of their lithium-ion batteries. Recycling and repurposing these used EV batteries play a crucial role in resource conservation, environmental sustainability, and responsible growth of the electric vehicle sector in battery waste industry.

Based on the end-use, the material extraction held the highest market share in 2022, accounting for nearly two-fifths of the global battery waste market revenue, and are estimated to maintain their leadership status throughout the forecast period. Battery waste can have several potential uses in the field of material extraction, primarily in recycling and repurposing batteries and their components. Battery cells from waste can be repurposed for energy storage applications. While they do not meet the high-performance demands for their original application, they can still store and release energy effectively, supporting backup power systems and off-grid solutions.

𝐏𝐫𝐞𝐬𝐬 𝐑𝐞𝐥𝐞𝐚𝐬𝐞: https://www.alliedmarketresearch.com/press-release/battery-scarp-market.html

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly half of the global battery waste market revenue, and is likely to dominate the market during the forecast period. Furthermore, the Asia-Pacific region is expected to witness the fastest growing from 2023 to 2032. The Asia-Pacific region has been at the forefront of electric vehicle adoption, with China being the largest EV market globally.

Thus, there has been a growing focus on the recycling of EV batteries to recover valuable materials such as lithium, cobalt, and nickel. Also, Asia-Pacific countries are major producers and consumers of consumer electronics. Recycling of used batteries from smartphones, laptops, tablets, and other devices has become important due to environmental regulations and sustainability concerns.

Key players in the battery waste industry include Li-Cycle, Umicore, HUSKY BATTERY SOLUTIONS, ENGITEC TECHNOLOGIES SPA, Sunlight Group, and Aqua Metals.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/14187

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

1. On the basis of product type, the lithium-ion segment accounts for nearly half of the market share, in terms of revenue, in 2022.

2. On the basis of source, the electric vehicle segment accounts for nearly three-fifths of the market size, in terms of revenue, in 2022.

3. 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.

4. Region-wise, Asia-Pacific accounts for nearly half of the market share, in terms of revenue, in 2022.

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐄𝐧𝐞𝐫𝐠𝐲 𝐚𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝟏. 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐑𝐞𝐜𝐲𝐜𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/08/11/2497247/0/en/Transportation-Battery-Recycling-Market-to-Generate-9-95-Billion-by-2030-Allied-Market-Research.html

𝟐. 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐑𝐞𝐜𝐲𝐜𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/03/22/2407493/0/en/Battery-Recycling-Market-to-Generate-66-6-Billion-by-2030-Allied-Market-Research.html

𝟑. 𝐒𝐨𝐥𝐚𝐫 𝐏𝐚𝐧𝐞𝐥 𝐑𝐞𝐜𝐲𝐜𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.com/news-releases/solar-panel-recycling-market-is-expected-to-reach-478-6-million-globally-by-2030-at-13-1-cagr-allied-market-research-301423892.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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