Lithium-Ion Battery Recycling Market Size, Trends, Industry Analysis, Leading Players Review & Future Forecast By 2030
Research Reports
Mar 08, 2022
A lithium-ion battery is a basic electrochemical cell that is made up of constituents like electrodes and catalysts which assist the power generation process in various applications. The cathode and anode electrodes present in these batteries are made up of precious elements that have very little reserves and a high retail value.
The Lithium-ion Battery Recycling Industry, from the recent research reports, is anticipated to grow from USD 4.79 billion in 2021 to USD 24.31 billion by 2030 with a compound annual growth rate (CAGR) of 21.43%.
INDUSTRY NEWS
In August 2021, a long-term partnership was entered into between glen core and BRITISHVOLT (a United Kingdom-based company that is a colonist and prime producer in electric vehicle battery technology) with a special strategy.
In July 2021, with aim of boosting its recycling and production capacities, various plans and projects were announced by LOHUM CLEANTECH which is a lithium-ion battery manufacturer and recycling, solution provider. The main target of this company is to increase the LIB output from 300 MWH to 1,000 MWH in addition to enhancing its recycling potential from 1,000 tons per annum to 10,000 tons within two years.
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MARKET SEGMENTATION
Looking at the latest research analysis, the Lithium-ion Battery Recycling industry can be bifurcated based on end-use and battery chemistry. Out of all the segments of this market, the automotive segment will witness tremendous growth and register the highest compound annual growth (CAGR) during the forecast period. The reason for this is the rising adoption of electric vehicles and the government of most of the developed and developing countries are supporting EVs through different policies and regulations.
If we look at this industry then based on end-use, it is categorized into automotive and non-automotive.
Based on battery chemistry, it has Lithium-Nickel Manganese Cobalt (Li-NMC), Lithium-titanate Oxide (LTO), Lithium-manganese Oxide (LMO), Lithium-nickel Cobalt Aluminium Oxide (NCA), and Lithium-iron Phosphate (LFP).
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REGIONAL ANALYSIS
If we look at Lithium-ion Battery Recycling market share and other details, this industry is remarkably working in four major regions of the world that is Asia Pacific, Europe, North America, and the rest of the world. During the forecast period, the North American region will dominate this market and the United States of America will be the leading contributor for this growth as it is expected to register the highest compound annual growth rate of (CAGR) 30.2%. Also due to rising adoption of electric vehicles and the growing use of such batteries in the aerospace industry is one of the major factors that will contribute to the growth of this market.
Based on the data obtained from Lithium-ion Battery Recycling industry analysis, the prominent players of this market are Urecycle Group OY, Euro Dieuze Industry (E.D.I.), Ecobat Technologies Ltd., Onto Technology, LLC, Gem Co., Ltd, Recupyl SAS, Li-Cycle Corp., International Metals Reclamation Company, LLC (Inmetco), Retriev Technologies Inc., Umicore, Glen Core International Ag, Raw Materials Company Inc. (RMC), American Manganese Inc., Neometals Ltd, Tes-Amm Singapore Pte Ltd, Fortum OY, Tata Chemicals Limited, Lithium Recycling Inc., Battery Recycling Made Easy (BRME), And Batrec Industrie Ag.
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