Global Lithium-Ion Battery Recycling Market to Garner $38.2 Billion by 2030: Allied Market Research

The market across Europe is expected to dominate in terms of revenue throughout the forecast period. However, the market across Asia-Pacific is estimated to register the highest CAGR of 40.8% from 2021 to 2030.

As per the report published by Allied Market Research, the global lithium-ion battery recycling market is projected to reach $38.2 billion by 2030, growing at a CAGR of 36.0% from 2021 to 2030. The report highlights market characteristics, market potential, and growth by segmentation, and competitive landscape.

Eswara Prasad, Manager, Energy & Power at Allied Market Research, stated, “Increase in demand for electrical, hybrid electric, and plug-in hybrid vehicles, surge in demand for smartphones, tablets, and other electronic devices, and rise in environmental pollution through disposal of battery drive the growth of the global lithium-ion battery recycling market. However, focus on lowering the cost of Li-ion batteries instead of recyclability hinders the market growth. On the contrary, higher energy efficiency requirements in technologically updated consumer gadgets and high adoption of electric vehicles are expected to open new opportunities for the market players.”

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Covid-19 pandemic impact on the market:

• The Covid-19 pandemic led to government-imposed lockdown across several countries and a temporary ban on import & export.
• Moreover, several manufacturing facilities were closed during the pandemic, which decreased the demand for lithium batteries from automotive and non-automotive end-users.
• However, the market is expected to recover from the losses of the first and second quarters of 2020.

The global lithium-ion battery recycling market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe is expected to dominate in terms of revenue throughout the forecast period. However, the market across Asia-Pacific is estimated to register the highest CAGR of 40.8% from 2021 to 2030.

Based on battery chemistry, the lithium-manganese oxide segment is anticipated to hold the largest share during the forecast period. However, the lithium-iron-phosphate segment is expected to register the highest CAGR of 40.8% during the forecast period.

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On the basis of source, the electric vehicles segment is projected to manifest the highest CAGR of 38.8% during the forecast period. However, the electronics segment is estimated to contribute the highest share during the forecast period.

The global lithium-ion battery recycling market includes an in-depth analysis of the prime market players such as Ganfeng Lithium Co., Ltd., Accurec Recycling GmbH, American Battery Technology Company, Duesenfeld GmbH, Akkuser Oy, Fortum Corporation, Li-Cycle Corp., Lithion Recycling, Inc., Retriev Technologies, Inc., and Umicore.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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