Lithium ion batteries offer one of the highest energy densities of any battery technology (100-265 Wh/kg or 250-670 Wh/L) available today. Furthermore, Li-ion battery cells can deliver up to 3.6 Volts, which is three times higher than Ni-Cd or Ni-MH technology. Lithium-ion batteries require low maintenance; have a long life span, offer easy and fast charging and offer high energy density. The high beneficiary factors make it highly suitable for various industrial applications.
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Global lithium-ion battery recycling market is expected to reach USD 8,198.92 million by 2029 from USD 1,904.23 million in 2021 growing with the CAGR of 21.3% in the forecast period of 2022 to 2029. Increasing sale of commercial vehicles all around the globe and rising awareness about the benefits of lithium ion batteries are some of the drivers boosting the growth of the market. The increasing deployment of lithium ion batteries in heavy vehicles, growth and expansion of automotive and semiconductors industry and rising personal disposable income are some other important market growth determinants.
Rise in the penetration of low carbon generation transportation fleet is expected to drive the market's growth rate
The demands and requirements of consumer electronics have continued to increase at an exponential rate. Lithium-ion batteries are common in consumer electronics. They are one of the most popular types of rechargeable batteries for portable electronics, with proper energy-to-weight ratios, high open-circuit voltage, and low self-discharge rate. The advancement in technologies has compacted the size of electronic devices making them more slim and lightweight which is increasing the requirement for lithium-ion batteries. The lithium-ion battery last longer, charge faster and have a higher power density for more battery life in a lighter package.
Report Scope and Market Segmentation
Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2018 - 2013)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Active Material, Non-Active Material), Chemistry (Lithium-Nickel Manganese Cobalt (Li-NMC), Lithium Cobalt Oxide (LCO), Lithium-Manganese Oxide (LMO), Lithium-Iron Phosphate (LFP), Lithium-Nickel Cobalt Aluminium Oxide (NCA), Lithium-Titanate Oxide (LTO)), Recycling Process (Hydrometallurgical Process, Pyrometallurgy Process, Physical/ Mechanical Process)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Glencore (Switzerland), Retriev Technologies (U.S.), Umicore (Belggium), Saubermacher Dienstleistungs AG (Austria), American Manganese Inc. (U.S.), Li-Cycle Corp (Canada), Akkuser Oy (Finland), Fortum (Finland), Contemporary Amperex Technology Co., Limited (China), GEM Co., Ltd. (China), Ganfeng Lithium Co.,Ltd. (China), Attero (India), ACCUREC-Recycling GmbH (Germany), Duesenfeld GmbH (Germany), Tata Chemicals Ltd. (India), OnTo Technology LLC (U.S.), Lithion Recycling (Canada), ECOBAT (U.S.), Cawleys (U.K), Veolia Environnement SA (France), Batrec Industrie (Switzerland), Nickelhütte Aue GmbH (Germany), Neometals Ltd (Australia), Redwood Materials, Inc. (U.S.) & Envirostream Australia Pty Ltd. (Australia) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Segment Analysis:
The global lithium-ion battery recycling market is segmented into three notable segments which are component, chemistry & recycling process.
Active material is expected to dominate the component segment of the global lithium-ion battery recycling market
In 2022, active material segment is expected to dominate the global lithium-ion battery recycling market with 62.76% market. This is because of active material is an integral component in the battery electrode to store lithium in their structure. Further, rising demand for both commercial and non-commercial vehicles globally will widen the scope of growth for the lithium-ion battery recycling market.
Lithium-nickel manganese cobalt (Li-NMC) is expected to dominate the chemistry segment of the global lithium-ion battery recycling market
In 2022, lithium-nickel manganese cobalt (Li-NMC) segment is expected to dominate the global lithium-ion battery recycling market with 36.48% market share. This is because of the growing awareness among the automobile manufacturers regarding lithium-nickel manganese cobalt’s capability of fast charging and high thermal stability compared to other types. Further, rising demand for both commercial and non-commercial vehicles globally will widen the scope of growth for the lithium-ion battery recycling market.
Major Players
Data Bridge Market Research recognizes the following companies as the major lithium-ion battery recycling market players in advanced wound care market are ACCUREC-Recycling GmbH (Germany), Duesenfeld GmbH (Germany), Tata Chemicals Ltd. (India), OnTo Technology LLC (U.S.), Lithion Recycling (Canada), ECOBAT (U.S.), Cawleys (U.K), Veolia Environnement SA (France), Batrec Industrie (Switzerland), Nickelhütte Aue GmbH (Germany), Neometals Ltd (Australia), Redwood Materials, Inc. (U.S.).
Market Development
Regional Analysis
Geographically, the countries covered in the lithium-ion battery recycling market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in lithium-ion battery recycling market during the forecast period 2022 - 2029
North America is dominating the global lithium-ion battery recycling market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. The U.S. is dominating due to the presence of major market players which provide the wide drug portfolio and well-developed healthcare infrastructure in this region. Also, existence of advanced healthcare technologies in this region is another reason for this region’s dominance in the global market.
Asia-Pacific is estimated to be the fastest growing region in lithium-ion battery recycling market the forecast period 2022 - 2029
Asia-Pacific is expected to grow during the forecast period due to the increasing patient population and rapid development of infrastructural facilities in emerging economies in this region. In addition to this, rising level of private and public expenditure on the development of healthcare industry infrastructure in the developing and backward economies and increasing per-capita income are expected propel the market's growth rate in this region. Also, increasing geriatric population base, surging incidence rate of chronic and acute disorders and diseases and rising medical tourism are some other important market growth determinants.
COVID-19 Impact Analysis
COVID-19 had a significant impact on the lithium-ion battery recycling sector because practically every government chose to shut down all production facilities except those that produce vital items. The increased acceptance of electrification of the automotive sector across all regions and countries is related to the expansion of the lithium-ion battery recycling business following the pandemic. Despite the fact that the automotive sector was hit hard by the pandemic, electric vehicle sales soared in the aftermath. Additionally, demand for consumer battery-operated electronics has expanded over time, which is driving this market's growth. Manufacturers are pursuing a variety of strategic measures in order to recover from COVID-19. Multiple research and development initiatives are being carried out by the players in order to improve the technology involved in lithium-ion battery recycling. The companies will be able to bring sophisticated technologies to market as a result of this. Furthermore, government programs encouraging the use of electric vehicles have boosted the market.
For more detailed information about the lithium-ion battery recycling market report, click here – https://www.databridgemarketresearch.com/reports/global-lithium-ion-battery-recycling-market
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Asia-Pacific Electric Vehicle Lithium-Ion Battery Recycling Market – Industry Trends and Forecast to 2029
North America Electric Vehicle Lithium-Ion Battery Recycling Market – Industry Trends and Forecast to 2029
Global Lithium-Ion Battery Recycling Market – Industry Trends and Forecast to 2029
Asia-Pacific Lithium-Ion Battery Recycling Market – Industry Trends and Forecast to 2029
Europe Lithium-Ion Battery Recycling Market – Industry Trends and Forecast to 2029
North America Lithium-Ion Battery Recycling Market – Industry Trends and Forecast to 2029
Middle East and Africa Lithium-Ion Battery Recycling Market – Industry Trends and Forecast to 2029
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
American Manganese Inc., GanfengLithium, FORTUM are expected to Dominate the Europe Electric Vehicle Lithium-Ion Battery Recycling Market in 2022
Brunp Recycling Technology Co., Ltd. (As a subsidiary of CATL), American Manganese Inc., Umicore is expected to dominate the North America Electric Vehicle Lithium-Ion Battery Recycling Market in 2022