The Battery Scrap Market was valued for $35.2 billion in 2022 and is estimated to reach $83.7 billion by 2032, exhibiting a CAGR of 9.1% from 2023 to 2032.
Battery scrap refers to discarded or used batteries that are no longer functional and are considered waste or recyclable material. It encompasses various types of batteries, both single-use and rechargeable, that have reached the end of their useful life. Battery scrap includes batteries such as alkaline batteries, lead acid batteries, lithium-ion batteries, nickel-cadmium batteries, nickel-metal hydride batteries, and others.
Battery scrap is collected and sent to specialized recycling facilities where batteries are processed to recover valuable materials, reduce waste, and mitigate environmental risks associated with the improper disposal of batteries. Recycling batteries helps conserve resources, reduces the need for mining or extracting raw materials, and prevents the release of hazardous substances into the environment.
The battery scrap industry is driven by growing support from governments. Governments often allocate funds for R&D in battery recycling technologies and processes. This investment supports innovation in recycling methods, making recycling more efficient and environmentally friendly. Also, some countries participate in international agreements related to environmental protection and sustainability, which can influence national policies on battery recycling and disposal. However, high battery recycling costs are a barrier to adoption, particularly in price-sensitive markets. Nevertheless, surge in demand for electric vehicles (EVs) and energy storage is anticipated to offer many opportunities for the battery scrap market growth in the coming years.
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 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.
Battery scrap refers to discarded or used batteries that are no longer functional and are considered waste or recyclable material. It encompasses various types of batteries, both single-use and rechargeable, that have reached the end of their useful life. Battery scrap includes batteries such as alkaline batteries, lead acid batteries, lithium-ion batteries, nickel-cadmium batteries, nickel-metal hydride batteries, and others.
Battery scrap is collected and sent to specialized recycling facilities where batteries are processed to recover valuable materials, reduce waste, and mitigate environmental risks associated with the improper disposal of batteries. Recycling batteries helps conserve resources, reduces the need for mining or extracting raw materials, and prevents the release of hazardous substances into the environment.
The battery scrap industry is driven by growing support from governments. Governments often allocate funds for R&D in battery recycling technologies and processes. This investment supports innovation in recycling methods, making recycling more efficient and environmentally friendly. Also, some countries participate in international agreements related to environmental protection and sustainability, which can influence national policies on battery recycling and disposal. However, high battery recycling costs are a barrier to adoption, particularly in price-sensitive markets. Nevertheless, surge in demand for electric vehicles (EVs) and energy storage is anticipated to offer many opportunities for the battery scrap market growth in the coming years.
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 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.
Competitive Landscape
The report covers strategies adopted by key players in the market to sustain the competitive environment and increase their battery scrap market share. The key players operating in the battery scrap market include Li-Cycle, Umicore, HUSKY BATTERY SOLUTIONS, ENGITEC TECHNOLOGIES SPA, Sunlight Group, Aqua Metals, Inc., Ecobat, EXIDE INDUSTRIES LTD., Guangdong Brunp Recycling Technology Co., Ltd., and Gravita India Ltd. In addition, the market drivers, restraints, and opportunities are explained in the report.Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the battery scrap market analysis from 2022 to 2032 to identify the prevailing battery scrap market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the battery scrap market size segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global battery scrap market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Product type
- Lead Acid
- Lithium Ion
- Others
By Source
- Electric Vehicles
- Consumer Electronics
- Power Tools
- Others
By End-use
- Material Extraction
- Reuse
- Disposal
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa,
- Saudi Arabia
- Rest of LAMEA
- Key Market Players
- Li-Cycle
- Ecobat
- Sunlight Group
- Umicore
- Husky Battery Solutions Ltd.
- Gravita India Ltd.
- Guangdong Brunp recycling Technology Co., Ltd.
- Aqua Metals, Inc.
- EXIDE INDUSTRIES LTD.
- ENGITEC TECHNOLOGIES SPA
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BATTERY SCRAP MARKET, BY PRODUCT TYPE
CHAPTER 5: BATTERY SCRAP MARKET, BY SOURCE
CHAPTER 6: BATTERY SCRAP MARKET, BY END-USE
CHAPTER 7: BATTERY SCRAP MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, 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 known as"battery recycling scrap" or"used battery scrap," refers to used or non-functional batteries that have been gathered for recycling. Battery recycling is critical for protecting natural resources, reducing the environmental effect of hazardous items, and reducing the need for new mining or material extraction. Recycling is essential for pollution control and environmental conservation.
The global transformation to cleaner and more sustainable energy sources, fueled by electrification and renewable energy adoption, is a major driver of the battery scrap sector. The relevance of recycling used batteries develops as the demand for batteries in various applications such as electric vehicles (EVs) and energy storage grows. This trend reflects a growing awareness of the environmental benefits of responsible battery disposal.
Despite the increasing importance of battery recycling, several challenges persist in the battery scrap industry. One of the major hurdles is the handling of hazardous materials present in batteries, which requires specialized processes and safety measures. Recycling costs also pose challenges, as they can be significant. Overcoming these challenges is vital for the sustainable for the battery scrap market growth.
The surge in demand for EVs and energy storage solutions presents battery scrap market opportunities for the developing during the forecast period. The recycling of used batteries can contribute to a circular economy, where valuable materials are recovered and reused in new batteries, reducing the need for raw material extraction and promoting sustainability.
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 battery scrap market analysis is done across North America, Europe, Asia-Pacific, and LAMEA.
In 2022, several notable battery scrap market trends and dynamics, driven by the ever-increasing demand for sustainable energy solutions and the responsible management of used batteries.
Among the product types, lithium-ion batteries emerged as the dominant force, capturing nearly half of the market's revenue share. This stronghold is expected to persist throughout the forecast period. Lithium-ion batteries are favored for their high energy density and rechargeable nature, making them indispensable in applications ranging from consumer electronics to electric vehicles and renewable energy systems.
Batteries found utility in a wide array of applications, including consumer electronics, hybrid vehicles, cordless phones, and portable devices. Their rechargeable nature and relatively high energy density have made them indispensable. However, when these batteries reach their end of life, recycling becomes crucial. Materials reclaimed from battery scrap can be repurposed, leading to material recovery, metal recovery, rare earth metal extraction, and hydrogen-absorbing alloy production.
In terms of source, electric vehicles (EVs) dominated the market landscape in 2022, commanding nearly three-fifths of the market's revenue share. This supremacy is projected to endure in the forecast period. Used EV batteries play a pivotal role in resource conservation and environmental sustainability. Recycling and repurposing these batteries are essential for the responsible growth of the EV sector in the battery scrap industry.
The 'others' segment, encompassing industrial equipment, renewable energy systems, telecommunications, and medical equipment, is poised for robust growth from 2023 to 2032. Industrial equipment, such as forklifts and material handling machinery, often rely on lead-acid batteries, which necessitate replacement and recycling. Similarly, batteries integrated with renewable energy storage systems, advanced with solar panels and wind turbines, are set to be replaced or upgraded as technology advances.
Material extraction took the lead in 2022, accounting for nearly two-fifths of the market's revenue. This dominance is expected to persist throughout the forecast period. Battery scrap's potential is harnessed in the realm of material extraction, primarily through recycling and repurposing batteries and their components. Repurposed battery cells find utility in energy storage applications, supporting backup power systems and off-grid solutions effectively.
Asia-Pacific region emerged as the leader in 2022, capturing nearly half of the market's revenue. This dominance is anticipated to continue in the forecast period. Notably, the Asia-Pacific region has been a frontrunner in electric vehicle adoption, with China boasting the largest EV market globally. Consequently, recycling EV batteries to recover valuable materials like lithium, cobalt, and nickel has become a focal point. Additionally, the region's significance as a major producer and consumer of consumer electronics has led to increased recycling efforts to meet environmental regulations and sustainability imperatives.
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.
Competetive Landscape
Key players in the battery scrap industry include Li-Cycle, Umicore, Husky Battery Solutions, ENGITEC Technologies SPA, Sunlight Group, Aqua Metals, Inc., Ecobat, EXIDE Industries LTD., Guangdong Brunp Recycling Technology Co., Ltd., and Gravita India Ltd.Companies Mentioned
- Li-Cycle
- Ecobat
- Sunlight Group
- Umicore
- Husky Battery Solutions Ltd.
- Gravita India Ltd.
- Guangdong Brunp recycling Technology Co., Ltd.
- Aqua Metals, Inc.
- EXIDE INDUSTRIES LTD.
- ENGITEC TECHNOLOGIES SPA
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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