Global Lithium-Ion Battery Recycling Market, By Type (LiCoO2 Battery, NMC Battery, LiFePO4 Battery, Other), Battery Chemistry (Lithium-Nickel Manganese Cobalt (Li-NMC), Lithium-Iron Phosphate (LFP), Lithium-Manganese Oxide (LMO), Lithium-Titanate Oxide (LTO), Lithium-Nickel Cobalt Aluminum Oxide (NCA)), End Use (Automotive, Marine, Industrial, Electric Power), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The lithium-ion battery recycling market is expected to gain market growth in the forecast period of 2021 to 2028. Data bridge market research analyses that the market is growing with the CAGR of 20.8% in the forecast period of 2021 to 2028 and is expected to reach USD 4.50 billion by 2028. The growing investments in the development of electric vehicles are escalating the growth of lithium-ion battery recycling market.
Lithium-ion battery recycling is known to be the less toxic batteries that are easy to recycle and reuse. The rise in the usage of lithium-ion batteries in various consumer products, the danger of explosion and their disposal has become tough and thus, it becomes necessary to recycle the lithium-ion batteries. The recycling of lithium-ion batteries could be done by various technological procedures including pyro-metallurgy process, hydrometallurgical process and other mechanical processes.
The increasing applications of lithium-ion batteries in the end-use industries including automotive, marine and power generation among others and eradication of toxic effect of metals used in batteries and the second application of the similar metals through recycling are the major factors driving the lithium-ion battery recycling market. The increasing recycling rate associated with lead-acid battery, rise in emphasis on the lithium-ion battery and limited availability of the metal accelerate the lithium-ion battery recycling market growth. The high usage of lithium-ion batteries owning to various chemical characteristics, increasing adoption of EVs around the world and initiatives taken by the government in the form of regulatory and financial support to EV manufacturers and buyers influence the lithium-ion battery recycling market. Additionally, rising demand for recycled products and materials, increase in demand for electric vehicles and depletion of earth metals positively affect the lithium-ion battery recycling market. Furthermore, increasing production with the purpose of declining the prices of lithium-ion batteries, government subsidies to encourage battery recycling and growing adoption in new applications extend profitable opportunities to the lithium-ion battery recycling market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the recycling and scarcity of technologies for the extraction of lithium from spent lithium-ion battery recycling is expected to obstruct the lithium-ion battery recycling market growth. Safety issues regarding to the storage and transportation of spent batteries are projected to challenge the lithium-ion batteries in the forecast period of 2021 to 2028.
This lithium-ion battery recycling market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on lithium-ion battery recycling market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Lithium-Ion Battery Recycling Market Scope and Market Size
The lithium-ion battery recycling market is segmented on the basis of type, battery chemistry and end use. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the lithium-ion battery recycling market is segmented into LiCoO2 battery, NMC battery and LiFePO4 battery and other.
- On the basis of battery chemistry, the lithium-ion battery recycling market is segmented into lithium-nickel manganese cobalt (Li-NMC), lithium-iron phosphate (LFP) and lithium-manganese oxide (LMO), lithium-titanate oxide (LTO) and lithium-nickel cobalt aluminum oxide (NCA).
- On the basis of end use, the lithium-ion battery recycling market is segmented into automotive, marine, industrial and electric power.
Global Lithium-Ion Battery Recycling Market Country Level Analysis
The lithium-ion battery recycling market is analyzed and market size, volume information is provided by country, type, battery chemistry and end use as referenced above.
The countries covered in the globally lithium-ion battery recycling market report are the 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, Israel, Egypt, South Africa, 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.
North America dominates the lithium-ion battery recycling market due to the increase in battery recycling rate and the rise in need of recycled material for lead acid, nickel cadmium, and other chemistries. Asia Pacific is expected to witness the fastest growing CAGR in the forecast period of 2021 to 2028 because of the rising demand from end-use industries such as automotive in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global 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, global 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.
The major players covered in the lithium-ion battery recycling market report are Tesla, 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 other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Lithium-Ion Battery Recycling Market
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