Global Lithium-ion battery recycling Market By End Use (Automotive and Non-automotive), By Battery Component (Active Material and Non-active Material), By Battery Chemistry (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), By Recycling Process (Hydrometallurgical Process, Pyrometallurgy Process, Physical/ Mechanical Process), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028

Global Lithium-ion battery recycling Market

A Lithium-Ion Battery is a form of electrochemical cell that is made up of components such as electrodes and catalysts to facilitate power generation for various purposes. Materials included in the cathode and anode tubes comprise of several precious metals with limited reserves and high resale prices. As a result, the lithium-ion battery recycling process is used to recover and market the raw materials stockpiled in the electrode composition, lowering project costs and reducing environmental effect. 

The market is majorly driven by growing demand for electric vehicles as well as the growing demand for recycle products and materials. Moreover, the strict government regulations and EPA guidelines along with the increased subsidies by government to encourage battery recycling are further estimated to enhance the market demand over the forecast period. Besides, high cost of recycling and safety issues related to the storage are the key restraints in the growth of the market in the years to come.
 

Market Size

According to Business Intelligence Insights "Global Lithium-ion battery recycling Market is expected to grow from USD 4.30 billion in 2021 to USD 17.6 billion by 2028, at a CAGR of 19.30% during the forecast period 2022-2028

Covid -19 Impact Analysis

Most markets are diminishing as a result of COVID-19, and non-essential production units are being phased out. All countries affected by COVID-19 are taking steps to reduce economic losses by implementing a variety of measures. To fight the financial effects of the epidemic, major economies have launched a variety of measures, including multibillion-dollar rescue packages. Interest rate reductions, direct benefits to the poor, postponed debt payments for loans and asset purchases, and regulatory adjustments are among these approaches. COVID-19 has also had a negative impact on the lithium-ion battery recycling market, as the manufacture and consumption of lithium-ion batteries has decreased more than expected in the short term due to multiple lockdowns imposed by various countries in response to the second and third waves of the panemic

Market Dynamics

•    Drivers
o    Growing demand for electric vehicles
o    Rising demand for recycled materials and products 

•    Restraints
o    High cost of recycling 
o    Safety issues related to storage

Segmentation Insights

By End Use

Automotive category dominated the market with highest share of 40.1 % in the market 

In terms of value, the automotive category held the largest market share in 2021, and it is predicted to increase at the quickest rate during the forecast period. The increasing usage of electric vehicles around the world is largely responsible for this growth. Furthermore, limited lithium sources encourage the recycling of lithium-ion batteries for future usage.

By Battery Chemistry

Lithium-manganese Oxide category dominated the market with highest share of 30.1 % in the market 

Due to increased demand for lithium-manganese oxide batteries from applications such as electricity, gas & water meters, fire & smoke alarms, security devices, and other energy storage applications, the lithium-manganese oxide sector held the biggest market share by battery chemistry in 2021 and is projected to continue its dominance during the forecast period.

By End Use

•    Automotive
•    Non-automotive

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

By Region

•    North America
o    U.S.
o    Canada

•    Europe 
o    Germany
o    U.K.
o    France
o    Italy
o    Spain
o    Rest of Europe

•    Asia Pacific 
o    China
o    India
o    Japan
o    Rest of Asia Pacific

•    Latin America 
o    Brazil
o    Mexico
o    Rest of Latin America

•    Middle East and Africa 
o    UAE
o    South Africa
o    Rest of Middle East and Africa (MEA)

Key Players

List of Key Players in the Global Lithium-ion Battery Recycling Market:

• 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)

Regional Insights

Asia Pacific category dominated the market with highest share of 33.5 % in the market

The Asia-Pacific lithium-ion battery recycling market is the largest and is expected to develop at the quickest rate in the world. The main reason for this was that governments, particularly in this region, are increasingly adopting battery recycling and clean energy initiatives. Due to massive demand for battery-powered automobiles and consumer electronics, China leads the Asia-Pacific area.

Table

Report Attributes	Details
Market Size Value in 2021	4.30 Billion
Market Size Value in 2027	USD 17.6 Billion
Growth Rate	+19.30%
Base Year	2021
Forecast Period	2022 – 2028
Historical Data	2018-2020
Forecast Units	(USD Billion)
Countries Covered	North America: U.S and Canada Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific Latin America: Brazil, Mexico Middle East And Africa: Saudi Arab, South Africa, UAE
Segments Covered	By End Use, By Battery Component, By Battery Chemistry, By Recycling Process, By Region
Competitive landscape	Leading companies, Competitive strategies and Consumer engagement scope
Customization is available	If our report does not contain the information you require, you can contact our experts to have segments created for you. Please contact us at sales@businessintelligence-insights.com if you have any questions

 

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