Lithium-ion Battery Recycling Market Growth 2023 Projected to Reach 24.31 Billion USD at a 21.43% CAGR, Thriving Global Sales and Developments by 2030

Global Lithium-ion Battery Recycling Market Overview:

According to MRFR analysis, the global Lithium-ion Battery Recycling Market is expected to register a CAGR of ~21.43% from 2022 to 2030 and hold a value of over USD  24.31 billion by 2030.

Lithium-ion battery recycling refers to the process of recovering materials from used or discarded lithium-ion batteries, to reduce the environmental impact of these batteries and to conserve valuable resources. The recovered materials can be used to produce new batteries or other products, helping to close the loop of material consumption. The COVID-19 pandemic has had a significant impact on the lithium-ion battery recycling market, with the slowdown in global economic activity and decreased demand for goods and services leading to reduced investment in recycling and other sustainability initiatives. The pandemic has also caused disruptions in the supply chain, making it more difficult to obtain the components and materials needed to recycle lithium-ion batteries.

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To build a new recycling plant or increase the capacity of an existing plant needs high investment. High investment, the right strategies, and the rapid increase of recycling capacity are the key. Recycling players with high investment capability and the right approach may benefit. Therefore, today’s smaller players or newcomers can increase their market shares, and the leaders can see their market shares decreasing, all depending on their approach.

Most of the recycling companies are gradually increasing their recycling capacity to accommodate the growing volume of end-of-life batteries. Still, it again depends on the investment required to increase the capacity.

Lithium-ion Battery Recycling Market Regional Analysis

The North American lithium-ion battery market is primarily dominated by the United States and Canada and is expected to be the largest market for lithium-ion battery recycling in the coming years. The region has a well-established infrastructure, advanced technology, and a strong presence of leading players in the battery recycling industry, which are expected to drive the growth of the market. Additionally, supportive government policies and regulations aimed at promoting sustainable practices, such as recycling, are expected to further boost the growth of the lithium-ion battery recycling market in North America.

Lithium-ion Battery Recycling Market Segmentation

The Global Lithium-ion Battery Recycling market has been segmented into end-use and battery chemistry.

Based on the end user, the market has been segmented into Automotive, and Non-automotive [Industrial, Power, and Marine].

Based on the battery chemistry, the market has been segmented into Lithium-nickel Manganese Cobalt (Li-NMC), Lithium-iron Phosphate (LFP), Lithium-manganese Oxide (LMO), Lithium-titanate Oxide (LTO), and Lithium-nickel Cobalt Aluminum Oxide (NCA).

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Industry News

• In September 2019, Umicore and LG Chem Ltd. (South Korea) entered into a multi-year strategic supply agreement for the supply of 125,000 metric tons of nickel, manganese, and cobalt cathode materials for lithium-ion batteries to LG Chem Ltd. The agreement became effective from January 2020. Under this agreement, Umicore is also expected to recycle LG Chem Ltd.’s cathode material production waste. Currently, both companies are undergoing discussions on long-term cooperation in battery recycling. The agreement is expected to help Umicore enhance its competitive edge in the battery recycling market globally.

Lithium-ion Battery Recycling Market Key Players

Some of the key market 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).

Table Of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope Of The Study

2.3 Market Structure

3 Research Methodology

3.1 Primary Research

3.2 Secondary Research

3.3 Market Capacity Estimation

3.4 Forecast Model

3.5 List Of Assumptions

3.6 Limitations Of The Study

4 Market Insights

5 Market Dynamics

5.1 Introduction

5.2 Market Drivers

5.2.1 Global Increasing Demand For Energy

5.2.2 New Oil Reserve Discoveries Increase The Drilling And Exploration Activities

5.3 Market Restraints

5.3.1 Less Battery Chemistrys In Other Verticals

5.4 Market Opportunities

5.5 Porter’s Five Forces Analysis

5.5.1 Threat Of New Entrants

5.5.2 Bargaining Power Of Buyers

5.5.3 Bargaining Power Of Suppliers

5.5.4 Threat Of Substitutes

5.5.5 Rivalry

5.6 Value Chain/Supply Chain Analysis

5.7 Covid-19 Impact Analysis

5.7.1 Impact On Overall Lithium Ion Battery Recycling Market

5.7.1.1 Economic Impact

5.7.2 Impact On Lithium Ion Battery Recycling Market

5.7.3 Impact On Supply Chain Of Lithium Ion Battery Recycling

5.7.3.1 Price Variation Of Key Raw Materials

5.7.3.2 Production Shutdown

5.7.3.3 Cash Flow Constraints

5.7.3.4 Impact On Import/Export

5.7.4 Impact On Market Demand Of Lithium Ion Battery Recycling

5.7.4.1 Impact Due To Restrictions/Lockdown

5.7.4.2 Consumer Sentiments

5.7.5 Impact On Pricing Of Lithium Ion Battery Recycling

6 Global Lithium Ion Battery RecyclingMarket, ByEnd Use

6.1 Introduction

6.2 Automotive

…Continued.

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