Lithium ion Battery Recycling Market 2023 Company Analysis, Technology Advancements, Industry Share, Size, Current Trends and Global Forecast 2030

The global Lithium-ion Battery Recycling Market is estimated to be worth USD 24.31 Billion by 2030, registering a 21.43% CAGR during the forecast period (2022- 2030).

Lithium-ion Battery Recycling Market Insights

Lithium-ion battery recycling appertains to the collection of lithium-ion batteries through varied sources, including automotive, industrial, consumer & electronics appliances, and the reclamation of metals or elements through recycling procedures. The global market evaluation discusses the revenue reported by vending these recovered metals or elements, whether that goes into another battery recycling or other second-usage applications. Reportedly, most metals re-collected go into battery manufacturing only.

One of the main drivers punching the industry of lithium-ion recycling is the huge need for electrical automobiles all over the world, along with subsidies offered by governments of different countries for rechargeable batteries. Due to worries about the ecological damage caused by automobiles running on conventional sources of energy like gasoline and diesel, there has been a significant boost in electric vehicle demand. The use of renewable biofuels is propagating throughout the automotive industry.

Market Growth Driving Factors

• Increased use of electric vehicles
• smart portable electronics
• The growing grid storage industry

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Because of how vigorously the transportation system depends on oil, both the economy and the environment are concerned. The popularity of electric vehicles is uprising with environmental sustainability. Fuel cells are needed for an uninterrupted energy source but are getting more and more in demand as EDVs are used more regularly. The market for EVs is anticipated to grow as a consequence of factors like fuel economy, fewer emissions, and customer preference.

Key Players

The global Lithium-ion Battery Recycling Market’s prominent key players are Umicore, Glencore International AG, Retriev Technologies Inc., Raw Materials Company Inc. (RMC), International Metals Reclamation Company, LLC (INMETCO), American Manganese Inc., Sitrasa, Li-Cycle Corp., Neometals Ltd, Recupyl Sas, Tes-Amm Singapore Pte Ltd, Fortum OYJ, GEM Co., Ltd, Tata Chemicals Limited, Onto Technology, LLC, Lithion Recycling Inc., Ecobat Technologies Ltd., Battery Recycling Made Easy (BRME), Euro Dieuze Industrie (E.D.I.), Batrec Industrie AG, Urecycle Group Oy.

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Regional Analysis

The global Lithium-ion Battery Recycling Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

The United States pacified the global lithium-ion battery industry, and it’s expected that it’ll endure doing so between 2022 and 2030. Central and South America are anticipated to demonstrate significant market growth due to the rise in foreign investments in the region.

Europe is esteemed for a significant market share of 31% in 2021. The European government’s recycling efficiency targets are anticipated to ameliorate the battery recycling rate.

Asia Pacific is anticipated at a lightning CAGR of 8.4% throughout the forecast period. nations like China, India, and Japan are anticipated to witness towering growth rates owing to the rising demand from end-use industries like as automotive.

Market Segmentation

The global Lithium-ion Battery Recycling Market is segmented into the following types;

By End User

• Automotive
• Non-automotive
• Industrial
• Power
• Marine
• Others

By Battery Components    

• Active Material
• Non-active Material

By 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)

By Recycling Process

• Hydrometallurgical Process
• Pyrometallurgy Process
• Physical/ Mechanical Process

By Source

• Electric Vehicles
• Electronics
• Power Tools
• Others

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