Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-06-15
As per Business Intelligence Insights (BII) study, the global Lithium-ion battery recycling market attained revenue growth of USD 4.30 billion in 2021 and it is projected to reach around USD 17.6 billion by 2028, growing at a 19.30% CAGR.
A Lithium-Ion Battery is an electrochemical cell made up of electrodes and catalysts that enables power generation for a wide range of applications. Several valuable metals with limited deposits and high resale prices are included in the cathode and anode tubes. As a result, the lithium-ion battery recycling method is followed to recover and market the accumulated raw materials in the electrode composition, minimising project costs and reducing environmental impact.
Furthermore, rising concerns about battery waste disposal and stringent government policies, as well as an increase in lithium-ion battery usage due to falling lithium-ion battery prices and rising adoption of electric vehicles, are expected to propel the lithium-ion battery recycling market during the forecast period. Moreover, the increased government subsidies to encourage battery recycling and growing application of lithium ion batteries to further enhance the market growth in the coming years.
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Lithium-ion battery recycling Market: Companies Mentioned
• Umicore (Belgium)
• Glencore International AG (Switzerland)
• Retriev Technologies Inc. (US)
• Raw Materials Company Inc. (RMC) (Canada)
• American Manganese Inc. (Canada)
• SITRASA (Mexico)
• Li-Cycle Corp. (Canada)
• Neometals Ltd (Australia)
• Metal Conversion Technologies (MCT) (US)
• TES (Singapore)
• Fortum (Finland)
• GEM Co., Ltd (China)
• Contemporary Amperex Technology Co. Ltd (CATL) (China)
• Duesenfeld GmbH (Germany)
• Accurec-Recycling GmbH (Germany)
• Tata Chemicals Limited (India)
• OnTo Technology LLC (US)
• Lithion Recycling Inc. (Canada)
• Ecobat (UK)
• Battery Recycling Made Easy (BRME) (US)
• Euro Dieuze Industrie (E.D.I.) (France)
• Batrec Industrie AG (Switzerland)
• uRecycle Group Oy (Finland)
• SMC Recycling (US)
• Redwood Materials, Inc. (US)
• Envirostream Australia Pty Ltd (Australia)
• The automotive category had the largest market share in terms of value in 2021, and it is expected to grow at the fastest rate throughout the forecast period. This growth is mainly due to the rising use of electric vehicles around the world. Furthermore, limited lithium resources stimulate lithium-ion battery recycling for future use. As the demand for electric vehicles grows, the demand for recycled lithium-ion batteries is expected to surge in the automotive industry.
• The lithium-manganese oxide sector held the largest market share by battery chemistry in 2021, result of rising demand from applications such as electricity, gas & water devices, fire & smoke alarms, security devices, and other energy storage applications. It also boasts qualities like long-term reliability, a long-life span, and a high temperature handling capacity, all of which are likely to propel market growth throughout the forecast period.
• The lithium-ion battery recycling market in Asia-Pacific is the largest and is predicted to grow at the fastest rate in the worldwide. The main reason for this was that governments across the world, particularly in this region, are rapidly implementing battery recycling and clean energy initiatives. China leads the Asia-Pacific region due to high demand for battery-powered automobiles and consumer gadgets. Furthermore, Germany dominates Europe due to increased research and development activities in lithium-ion battery recycling processes to promote a sustainable energy paradigm. Furthermore, the United States dominates the North American market due to rising demand for lithium-ion batteries in electric vehicles, mobile devices, and smart wearables.
• The report contains qualitative and quantitative research on the global lithium-ion battery recycling market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
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By End Use
By Battery Component
• 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
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
o Rest of Latin America
• Middle East and Africa
o South Africa
o Rest of Middle East and Africa (MEA)
Ready to generate outstanding revenue opportunities with Business Intelligence Insights (BII)’ exclusive Lithium-ion battery recycling market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as –
• What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?
• What is the current trend taking place in the market space?
• What are the business techniques that will influence competitive scenarios as well as the market's growth potential?
• What market drivers, restraints, and challenges are influencing market demand and growth?
• In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?
The Lithium-ion battery recycling Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analysed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our Lithium-ion battery recycling Market Forecast Report 2022- 2028 - Order Now!
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