GEM Co. Ltd., FORTUM, Brunp Recycling Technology Co. Ltd. is expected to dominate the Asia-Pacific Electric Vehicle Lithium-Ion Battery Recycling Market in 2022

Asia-Pacific Electric Vehicle Lithium-Ion Battery Recycling Market is expected to grow with a CAGR of 22.0% in the forecast period of 2022 to 2029. The years considered for the study are as mentioned below.

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Asia-Pacific electric vehicle lithium-ion battery recycling market is a highly consolidated market, including a specific number of key and local players. The market has witnessed increased strategic developments owing to favorable market scenarios.

The major players dealing in the Asia-Pacific electric vehicle lithium-ion battery recycling market are introducing a strong range of product portfolios. This helped companies to maximize sales with an enhanced product portfolio.

For instance,

  • On January 18, 2021, Paulson Prize for sustainability helped GEM Co. Ltd. build partnerships and boost the high-quality development of the recycling industry. This partnership will help the company to promote its extensive cooperation with global automobile and battery enterprises in the recycling of waste batteries

Asia-Pacific Electric Vehicle Lithium-Ion Battery Recycling MarketGEM Co. Ltd.

GEM Co., Ltd. has headquarters in China and was founded in the year 2002. The company is engaged in recycling the world and making contributions to building a community with a shared future for mankind. The company has wide product categories such as multi-scene cascade utilization battery products and electric vehicle power battery materials, which are also the market-focused categories.

 The company has a wide global presence across South Africa, Indonesia, and South Korea. The company has subsidiaries which are GEM Recycling Technology Development Co., Ltd. 9 (Wuhan), GEM Urban Mining Recycling Industry Development Co., Ltd. (Tianjin), Zhejiang Dewei Cemented Carbide Manufacturing Co. Ltd.(China), Henan GEM Sino-Steel Resources Recycling Co., Ltd.(China) and GEM Hong Kong International Co., Ltd.(China) amongst others.

FORTUM

FORTUM has headquarters in Espoo, Finland, was founded in 1998. The company focuses on providing clean energy and sustainable solutions to its customers and society. The company offers a wide range of service categories such as consumer solutions, heating & cooling, smart energy solutions, vehicle charging, recycling & waste, power plant services, biobased solutions, Fortum battery solutions, where Fortum battery solutions is the market-focused category.

The company has a wide presence in Europe, Asia-Pacific. The company has subsidiaries which are Uniper (Germany), Fredrikstad Energi (Norway), Kommune Kemi A/S, industry (Denmark), Fortum Bytom S.A (Poland), among others.

For instance,

  • In August 2021, Fortum and Valmet Automotive entered into cooperation in sustainable recycling of battery materials to ensure the safe and sustainable recycling of all non-conforming battery materials from Valmet Automotive’s battery plants in Salo and Uusikaupunki. This will help boost the development of a circular economy and sustainable development-based value chain for both companies

Brunp Recycling Technology Co. Ltd

Brunp Recycling Technology Co. Ltd. has headquarters in Guangdong, China, and was founded in 2005. The company is engaged in providing solutions for waste batteries and scraped car circular services. The company offers a wide range of service categories such as precursor, cathode material, chemical salt, ni-co waste, rough chemical salt, waste battery, waste Car. Waste Battery is the market-focused category. The company has a wide presence in Asia-Pacific, Americas.

For instance,

  • In September 2019, CATL & Brunp Recycling launched a joint venture to recycle end life batteries and recover important cathode elements from them. The joint venture’s objectives include research and development, the sale of battery materials and relevant materials such as nickel and cobalt, and research and development in this area. This has helped CATL to consolidate the supply of cathode materials and other raw materials for the production of new batteries