Tesla, Snam SPA and Umicore are dominating the Global Lithium-Ion Battery Recycling Market in 2018

Lithium-Ion Battery Recycling Market is expected to reach USD 3,699.78 million by 2026 and growing with a healthy CAGR in the forecast period of 2019 to 2026. The years considered for study are as mentioned below:

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Global lithium-ion battery recycling market is an emerging market, which includes specific number of key players as well as local players. The market has witnessed increased various strategic developments owing to favourable market scenario. The market will have a prominent growth in upcoming years due to effective use of lithium ion batteries in bio-medical devices and increased use of lithium-ion batteries in automobiles and devices.

The market is witnessing developments in terms of merger and acquisitions, partnerships or product launches that will expand the service coverage for the customers. The companies who are focusing to meets the rising demand of lithium-ion battery recycling will sustain their position in the market. For instance, in May 2019, Storage Battery Systems, LLC has opened a new Dallas branch which will provide solutions for the specific customer needs. Thus, with this, they will be able to reach out to their customers across the globe.

Tesla dominated the global lithium-ion battery recycling market. The other key players in the market are Snam SPA, Umicore, Tes - Amm India Pvt. Ltd., Raw Materials Company, Recupyl, innovative battery recycling, Global Technology Systems, Inc., ACCUREC Recycling GmbH, AKKUSER OY & DIGITOIMISTO ROI, American Manganese Inc., Battery Recycling Made Easy, Ganfeng Lithium Co., Ltd., Interstate Batteries, LI-CYCLE CORP., Lithion Recycling, Neometals Ltd, OnTo Technology, LLC., Retriev Technologies, SITRASA, Storage Battery Systems, LLC among others.

Tesla:

Tesla is a public company which is headquartered in California, U.S. and was founded in 2003. The company is engaged in manufacturing of electric vehicles as well as infinitely scalable clean energy generation and storage products. The company operates through three business segments which include total automotive, energy generation and storage segment revenue, services and other. Services and other is the market focused segment and is engaged in the production of lithium-ion battery recycling products to be utilized in various applications. The product categories of the company include MODEL S, MODEL 3, MODEL X, MODEL Y, Energy, Roadster in which Roadster is the market focused category.

• In October 2019, Tesla announced the aim of launching of cars which will run on lithium-ion batteries. Through this launch, the company will explore its product portfolio in the market.

The company has wide presences across the globe such as North America, Asia-Pacific, Europe, Middle East and Africa. The company also generates in revenue from its subsidiaries such as SolarCity (U.S.), Tesla Energy Operations, Inc. (U.S.), Tesla Motors Netherlands B.V. (Netherlands), Arpad Solar Borrower Llc (U.S.) among others.

Snam SPA:

Snam SPA is a public company which is headquartered in San Donato Milanese, Italy and was founded in 1941. The company is engaged in recycling of battery and is also engaged in in reducing environmental impact and CO2 emissions. The company operate through four business segments which include transportation, storage, corporate and other activities, regasification. Corporate and other activities is the market focused segment and is engaged in the production of various types of lithium-ion battery recycling products. Service / Product Categories offered by the company are European Collection of Industrial Batteries, Sorting of Portable Batteries and Accumulators, Recycling, Transport of Batteries and Accumulators, Sale of Alloys in which Recycling is the market focused category.

• In October 2019, Snam SPA announced the investment of € 28 million over five years to expand their battery recycling unit at Aveyron SME based in Viviez .Through this expansion the company will be able to expand its service portfolio in the market.

The company has presence in Europe region. The company also generates in revenue from its subsidiaries such as Stoccaggi Gas Italia S.p.A. (France), Infrastrutture Trasporto Gas S.p.A.(France), GNL Italia S.p.A. (Italy), Gasbridge 1 B.V.(France) among others.

Umicore:

Umicore is a public company which is headquartered in Brussels, Belgium and was founded in 1805. The company is a global material technology and recycling group that deals in the materials for rechargeable batteries and recycling. The company operates in three business segments which are catalysis, energy & surface technologies and recycling. Recycling is the market focused segment and is engaged in the manufacturing of products related to lithium-ion battery recycling. The service categories offered by the company include energy, automotive, recycling, chemicals, manufacturing, optics and displays, precious metals, electronics in which recycling is the market focused category. The company has approx. 10,420 employees as of 31st December 2018.

• In September 2019, Umicore and LG Chem developed a strategic agreement to serve LG Chem with (Nickel Manganese Cobalt) cathode materials. The materials will be served to the company from Umicore’s production plants in Korea, China and Poland. The agreement will help the company to meet rising demand for rechargeable lithium-ion batteries.

The company has wide presences across the globe such as Europe, Asia-Pacific, North America, South America, Africa. The company also generates in revenue from its subsidiaries such as Todini and Co. S.p.a. (Belgium), Umicore Materials AG (Belgium), Palm Commodities International, Inc. (U.S.), Umicore Marketing Services UK Ltd (U.K.), Umicore Precious Metals NJ, LLC (U.S.) among others.