Asia-Pacific Lithium-Ion Battery Recycling Market – Industry Trends and Forecast to 2029

  • Semiconductors and Electronics
  • Published Report
  • Apr 2022
  • Asia-Pacific
  • 350 Pages
  • No of Tables: 52
  • No of Figures: 26

Asia-Pacific Lithium-Ion Battery Recycling Market, By 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) – Industry Trends and Forecast to 2029.

 

Asia-Pacific Lithium-Ion Battery Recycling Market

Market Analysis and Size

Lithium ion battery comprises of lithium ions which moves from negative electrode to the positive electrode through the electrolyte during charging and moves backwards at the time of charging. These batteries are rechargeable and commonly used in consumer electronics and automobiles. It consists of four components cathode, anode, separator and electrolyte. Anode helps in storing and releasing of lithium ions from cathode, enabling the pass of current through an external circuit. Cathode acts as a source of lithium ions which determines the capacity and average voltage of the battery. Electrolytic is basically the medium which helps in the movement of the ions. Separator basically helps in preventing the contact between the cathode and anode. Aluminium foils are used as a current collector for cathodes and copper foils are used as a current collector for anodes. The combination of all four components makes up a cell which is used to power various applications. With cluster of cells module is formed and with cluster of modules a pack is formed. Lithium ion batteries offer high energy density, voltage capacity and lower self-discharge rate than other rechargeable batteries. This makes them highly suitable for wide range of applications.

Data Bridge Market Research analyses that the Asia-Pacific lithium-ion battery recycling market is expected to reach the value of USD 5,047.18 million by 2029, at a CAGR of 22.3% during the forecast period. The lithium-ion battery recycling market report also covers pricing analysis, patent analysis, and technological advancements in depth.          

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020

Quantitative Units

Revenue in USD Million, Pricing in USD

Segments Covered

By 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)

Countries Covered

China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific (APAC)

Market Players Covered

Glencore, Retriev Technologies, Umicore, TES, Fortum , Contemporary Amperex Technology Co., Limited, GEM Co., Ltd., Ganfeng Lithium Co.,Ltd., Attero, Tata Chemicals Ltd., Veolia Environnement SA, Batrec Industrie, Neometals Ltd, &  Envirostream Australia Pty Ltd.

Drivers

  • Rising demand for smart phones & consumer electronics

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 battery 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 it slimmer and lightweight which is increasing the requirement of lithium ion battery. The lithium ion battery last longer, charge faster and have a higher power density for more battery life in a lighter package.

  • Penetration of low carbon generation transportation fleet

Road transport emissions account for almost 75% of all transport GHG (greenhouse gas) emissions and 11% of global GHG emissions. Electrification is the key decarburization lever for road transport. In contrast, Electric vehicle currently emits 30-60% fewer emissions than combustion engines depending on the power mix. Without action, global road transport emissions would continue to grow as a result of increased transport needs supplied by fossil fuels. However, electrification helps to reduce CO2 emissions and improve air quality by avoiding mixing of toxic gases. To mitigate climate change and create a fossil fuel-free economy, the global community has agreed that GHG emissions must be reduced rapidly and significantly. Li-ion batteries are thus considered as the promising clean technology to replace the conventional fossil-fuel powered device. Compared to the other high-quality rechargeable battery technologies, Li-ion batteries have highest energy densities of any battery technology today (100-265 Wh/kg or 250-670 Wh/L). Li-ion batteries are also used to power electrical systems for some aerospace applications, being environmental friendly & lightweight is the major factor among others.

Opportunities

  • Growing number of R&D initiatives and government facilities for recycling

Lithium ion batteries have wide range of application and with more efforts put in through research and development, more advance characteristics are being developed. Companies are building new manufacturing facilities for fulfilling the surging demands of lithium ion batteries in application for electrical vehicles, medical devices and data communication. The new facilities and growing research and development is creating new opportunity for growth of global lithium ion battery market.

Restraints/Challenges

  • Safety issues related to the storage and transportation of spent batteries

Lithium ions are widely used in various applications such as consumer electronics, industrial applications, medical devices and in automobiles. Lithium ion batteries are light weight and are now designed to be flexible in nature with variable shapes. However, lithium ion batteries can be extremely dangerous if defective or overcharged, packaged incorrectly, misused or mishandled. Lithium is highly reactive and flammable and can therefore cause severe damage to life and property. These characteristics can cause harm during storage, usage and transportation of lithium ion.

  • Issues related to overheating of lithium-ion battery

Despite their technological promise, Li-ion batteries still have a number of shortcomings, particularly with regards to safety. Li-ion batteries have a tendency to overheat, and can be damaged at high voltages. In some cases, this can lead to thermal runaway and combustion. These batteries require safety mechanisms to limit voltage and internal pressures, which can increase weight and limit performance in some cases. Li-ion batteries are also subject to aging, meaning that they can lose capacity and frequently fail after a number of years. Another factor limiting their widespread adoption is their cost, which is around 40% higher than Ni-Cd.

Post COVID-19 Impact on Lithium-Ion Battery Recycling Market

COVID-19 created a major impact on the lithium-ion battery recycling market as almost every country has opted for the shutdown for every production facility except the ones dealing in producing the essential goods.

Post pandemic, the growth of the lithium-ion battery recycling market is attributed to the increasing adoption of electrification of automotive industry across all regions and countries. Although automotive industry faced major issues during pandemic, the electric vehicle sales jumped to higher levels in post pandemic scenario. Also demand for consumer battery operated electronics has increased over the period of time which is acting as a driver for this market’s growth.

Manufacturers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple research and development activities to improve the technology involved in the lithium-ion battery recycling. With this, the companies will bring advanced technologies to the market. In addition, government initiatives for usage of electric vehicle has led to the market's growth

Recent Development

  • In May 2020, Neometals Ltd. collaborated with Indian power trading company Manikaran Power Limited (MPL) for a jointly financed AACE Class 3 Feasibility Study to evaluate lithium refinery located in India. Neometals is planning to invest in 50:50 joint venture with MPL to develop the lithium refinery after assessment results. This will help the company to expand their footprint in Indian market.
  • In December 2021, Envirostream Australia Pty Ltd received approval from the city council for the establishment of their second and larger recycling plant setup for used or waste batteries in Melbourne, Victoria. This will help the company to fulfill its goal of keeping batteries out of landfills and recycling them across Australia.

Asia-Pacific Lithium-Ion Battery Recycling Market Scope

The lithium-ion battery recycling market is segmented on the basis of component, chemistry, and recycling process. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

  • Active Material
  • Non-Active Material

On the basis of component, the lithium-ion battery recycling market is segmented into active material and 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)

On the basis of chemistry, the lithium-ion battery recycling market has been segmented into below 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

On the basis of recycling process, the lithium-ion battery recycling market has been segmented into hydrometallurgical process, pyrometallurgy process, physical/ mechanical process.

Lithium-Ion Battery Recycling Market Regional Analysis/Insights

The lithium-ion battery recycling market is analysed and market size insights and trends are provided by country, component, recycling process and chemistry as referenced above.

The countries covered in the lithium-ion battery recycling market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific (APAC).

China dominates the Asia-Pacific lithium-ion battery recycling market. China is likely to be the fastest-growing Asia-Pacific lithium-ion battery recycling market. The major reason behind this is increasing adoption of battery recycling and clean energy initiatives from China government.

 The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Lithium-Ion Battery Recycling Market Share Analysis

The lithium-ion battery recycling market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to lithium-ion battery recycling market.

Some of the major players operating in the lithium-ion battery recycling market are Glencore, Retriev Technologies, Umicore, TES, Fortum , Contemporary Amperex Technology Co., Limited, GEM Co., Ltd., Ganfeng Lithium Co.,Ltd., Attero, Tata Chemicals Ltd., Veolia Environnement SA, Batrec Industrie, Neometals Ltd, &  Envirostream Australia Pty Ltd.

Research Methodology: Asia-Pacific Lithium-Ion Battery Recycling Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Asia-Pacific versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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SKU-

TABLE 1 LIST OF THE COMPANIES WITH THEIR RECYCLING PROCESS AND APPROXIMATE CAPACITY

TABLE 2 STANDARDS RELATED TO LITHIUM-ION BATTERIES

TABLE 3 POLICIES RELEVANT TO LIB RECYCLING PUBLISHED IN CHINA

TABLE 4 ASIA PACIFIC LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 5 ASIA PACIFIC ACTIVE MATERIAL IN LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 6 ASIA PACIFIC NON-ACTIVE MATERIAL IN LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 7 ASIA PACIFIC LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 8 ASIA PACIFIC LITHIUM-NICKEL MANGANESE COBALT (LI-NMC) IN LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 9 ASIA PACIFIC LITHIUM COBALT OXIDE (LCO) IN LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 10 ASIA PACIFIC LITHIUM-MANGANESE OXIDE (LMO) IN LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 11 ASIA PACIFIC LITHIUM-IRON PHOSPHATE (LFP) IN LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 12 ASIA PACIFIC LITHIUM-NICKEL COBALT ALUMINUM OXIDE (NCA) IN LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 13 ASIA PACIFIC LITHIUM-TITANATE OXIDE (LTO) IN LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 14 ASIA PACIFIC LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 15 ASIA PACIFIC HYDROMETALLURGICAL PROCESS IN LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 16 ASIA PACIFIC PYROMETALLURGY PROCESS IN LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 17 ASIA PACIFIC PHYSICAL/ MECHANICAL PROCESS IN LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 18 ASIA-PACIFIC LITHIUM-ION BATTERY RECYCLING MARKET, BY COUNTRY, 2020-2029 (USD MILLION)

TABLE 19 ASIA-PACIFIC LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 20 ASIA-PACIFIC LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 21 ASIA-PACIFIC LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 22 CHINA LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 23 CHINA LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 24 CHINA LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 25 JAPAN LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 26 JAPAN LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 27 JAPAN LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 28 SOUTH KOREA LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 29 SOUTH KOREA LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 30 SOUTH KOREA LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 31 INDIA LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 32 INDIA LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 33 INDIA LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 34 AUSTRALIA LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 35 AUSTRALIA LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 36 AUSTRALIA LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 37 SINGAPORE LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 38 SINGAPORE LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 39 SINGAPORE LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 40 THAILAND LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 41 THAILAND LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 42 THAILAND LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 43 MALAYSIA LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 44 MALAYSIA LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 45 MALAYSIA LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 46 INDONESIA LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 47 INDONESIA LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 48 INDONESIA LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 49 PHILIPPINES LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

TABLE 50 PHILIPPINES LITHIUM-ION BATTERY RECYCLING MARKET, BY CHEMISTRY, 2020-2029 (USD MILLION)

TABLE 51 PHILIPPINES LITHIUM-ION BATTERY RECYCLING MARKET, BY RECYCLING PROCESS, 2020-2029 (USD MILLION)

TABLE 52 REST OF ASIA-PACIFIC LITHIUM-ION BATTERY RECYCLING MARKET, BY COMPONENT, 2020-2029 (USD MILLION)

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Frequently Asked Questions

The Asia-Pacific Lithium-Ion Battery Recycling Market will be projected to grow at a CAGR of 22.3% during forecast by 2029.
The Asia-Pacific Lithium-Ion Battery Recycling Market will be projected at USD 5,047.18 million during forecast by 2029.
The major players operating in the Asia-Pacific Lithium-Ion Battery Recycling Market are Glencore, Retriev Technologies, Umicore, TES, Fortum , Contemporary Amperex Technology Co., Limited, GEM Co., Ltd., Ganfeng Lithium Co.,Ltd., Attero, Tata Chemicals Ltd., Veolia Environnement SA, Batrec Industrie, Neometals Ltd, & Envirostream Australia Pty Ltd.
The major countries covered in the Asia-Pacific Lithium-Ion Battery Recycling Market are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific (APAC).