The practice of gathering and repurposing old batteries in order to recover important metals including nickel, cobalt, lithium, lead, and others is known as battery recycling. This lessens the impact on the environment, preserves natural resources, and keeps dangerous materials out of landfills. Depending on the kind of battery, such as lead-acid, lithium-ion, or nickel-cadmium, the recycling procedure is diverse and calls for distinct handling methods since different chemicals are involved. By reusing the recovered components, battery recycling not only lowers the need for raw materials but also lowers the energy used in battery manufacturing. It is essential for waste management, sustainability, and meeting the rising need for environmentally acceptable energy storage options, particularly in the fields of electric vehicles and renewable energy.
According to SPER Market Research, ‘United States Battery Recycling Market Size- By Source, By Chemistry, By Material- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’, states that the United States Battery Recycling Market is estimated to reach USD 72.28 million by 2033 with a CAGR 10.01%.
Drivers:
Growing concerns about environmental sustainability and the necessity for efficient hazardous waste management are driving the battery recycling industry in the United States. The market is expanding as a result of increased government programs and regulatory requirements to promote recycling and reduce landfill trash. The need for battery recycling has increased due to the growing usage of electric vehicles (EVs) and renewable energy storage systems, both of which produce large volumes of spent batteries that need to be disposed of responsibly and have their materials recovered. The industry is also driven by businesses’ and customers’ increasing knowledge of the advantages of recycling and resource conservation. Technological developments in recycling procedures also improve recovery rates and efficiency, which helps the sector grow.
Restraints:
One of the many issues facing the US battery recycling business is the absence of uniform laws and policies, which can result in uneven state-by-state practices and impede effective recycling procedures. Investments in recycling facilities may be discouraged by the high operating costs of sophisticated recycling technology and logistics. Furthermore, the intricate makeup of batteries, particularly lithium-ion models makes material recovery and safe dismantling challenging. Used battery collecting is limited by the low level of public knowledge and involvement in recycling schemes. Furthermore, the industry’s sustainability initiatives and recycling operations’ profitability may be impacted by rivalry for recycled materials brought on by the rising need for new battery materials.
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Due to supply chain interruptions brought on by the COVID-19 epidemic, collection and processing activities were delayed, which had an effect on the US battery recycling sector. The availability of old batteries for recycling decreased as a result of lockdowns and health precautions that decreased customer involvement in recycling initiatives. But the epidemic also increased people’s awareness of environmental problems and the value of sustainable practices, which stoked interest in programs that recycle batteries. The necessity for effective waste management and resource recovery in a post-pandemic environment was further reinforced as the economy started to recover and the growing use of electric cars and renewable energy sources increased demand for battery recycling services.
The Southeast region dominates the United States battery recycling market, driven by a high concentration of automotive manufacturers, particularly electric vehicle producers, and growing recycling infrastructure. Major players in the market are American Battery Technology Company, Aqua Metals, Call2Recycle, Cirba Solutions, East Penn Manufacturing Co.
United States Battery Recycling Market Segmentation:
By Source: Based on the Source, United States Battery Recycling Market is segmented as; Automotive Batteries, Industrial Batteries, Consumer and Electronic Appliances Batteries.
By Chemistry: Based on the Chemistry, United States Battery Recycling Market is segmented as; Lead Acid, Lithium Based, Nickel Based.
By Material: Based on the Material, United States Battery Recycling Market is segmented as; Metals, Electrolyte, Plastics.
By Region: This research also includes data for Northern, Southern, Western, Eastern.
For More Information, refer to below link: –
U.S. Battery Recycling Market Forecast
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