Cracking The Lithium Ion Battery Recycling Market Code

Global Lithium-Ion Battery Recycling Market

The primary objective of building a good battery is a long life, safety, and low price. Batteries are expensive and have a relatively short life span. As discarded batteries grow by tonnage, entrepreneurs are enticed to start a business in recycling. Recycling is an afterthought and manufacturers do little to simplify the retrieving of precious metals. The recycling business is small compared to the vast battery industry. For the reduction of CO2 emissions to a large extent, recovered metal has been used for recycled battery production.

The global battery recycling market size was worth US$ 1,196.23 million in 2019 and is estimated to reach US$ 8,755.09 million by 2026, at a CAGR of 32.89% during the forecast period.

Subsidies and Stringent Government Regulations to Encourage Battery Recycling

The Mercury-Containing and Rechargeable Battery Management Act of 1996 (“Battery Act”) has made some important strides in protecting the environment and human health. Through this law, the EPA and state Department of Environmental Quality agencies can reduce the number of hazardous substances released into the environment from used batteries.

The EPA (Environmental Protection Agency) has imposed strict guidelines on the recycling of lead-acid batteries in the USA. The recycling plants must be sealed, and the smokestacks fitted with scrubbers. Adding to this, China, a leader in lead-acid battery production, also took action to protect the environment by introducing strict guidelines that only reputable companies can meet.

Safety and security concerns related to transportation and storage of batteries is the major restraint hampering the growth of the market.

Safety and Security Concerns Related to Transportation and Storage of Batteries to Hinder Market Progress

These batteries contain metallic lithium that reacts violently when in contact with moisture and must be disposed of appropriately. If thrown in a landfill in a charged state, heavy equipment operating on top could crush the cases and the exposed lithium could ignite a fire. With the increasing use of Li-ion, the European Commission report named “Towards the Battery of the future” delivers warnings because of the large number of batteries that will meet end-of-life. In Europe, Li-ion cannot be landfilled because of toxicity and danger of explosion, nor can they be incinerated as the ashes are also toxic in a landfill. Of concern are cobalt and agents that bind electrode materials together.

Hydrometallurgical Process Anticipated to Gain Notable Traction

By Technology, the global Lithium-Ion Battery Recycling Market is segmented into Hydrometallurgical processes, Pyrometallurgy processes, and Physical/Mechanical Processes. By Chemistry, the global Lithium-Ion Battery Recycling Market is segmented into Lithium-Nickel Manganese Cobalt (Li-NMC), Lithium Iron Phosphate (LFP), Lithium-Manganese Oxide (LMO), Lithium-Titanate Oxide (LTO), Lithium-Nickel Cobalt Aluminum Oxide (NCA), and Lithium-Cobalt Oxide (LCO).

Asia-Pacific Lithium-Ion Battery Recycling Market to Expand Robustly

By Region, Global Lithium-Ion Battery Recycling Market is segmented into – North America, South America, Europe, Asia-Pacific (APAC), and the Middle East and Africa.

North America accounted for the largest share of the market in 2018. However, the market in APAC is anticipated to grow at the highest pace in the forecast period. The rise in battery recycling activities and stringent regulations in North America, especially in the U.S are the major reasons for the growth of the battery market. For instance, the EPA - Environmental Protection Agency has imposed strict guidelines on the recycling of lead-acid batteries in the USA.

Companies are having agreements for battery recycling and manufacturing to extend their market presence. For instance, in February 2017, Johnson Controls had a technology license agreement with Aqua Metals, California, the U.S. for battery manufacturing & recycling.  According to New York Times, batteries collected in the United States are increasingly being transported to Mexico for recycling as a result of a widening gap between the strictness of environmental and labor regulations between the two countries.

Highly Concentrated Competitive Market with Few Major Contributors

The global Lithium-Ion Battery Recycling Market is highly competitive. Key market players include – Umicore, Glencore, Retriev Technologies, Raw Materials Company (RMC), International Metals Reclamation Company (INMETCO), Metal Conversion Technologies (MCT), American Manganese (AMI), Sitrasa, TES-AMM, and Li-Cycle Technology.

The key players are adopting various key strategies such as product launches and expanding productions which are contributing to the growth of the Battery Recycling Market.

For instance, in August 2019, Perth-based Lithium Australia produced refined lithium phosphate from spent lithium-ion batteries and is now focusing on the production of lithium-Ferro-phosphate cathode powder as part of its continued lithium recycling strategy.

Cancer Immunotherapy Market Taxonomy:

By Technology

• Hydrometallurgical Process
• Pyrometallurgy Process
• Physical/Mechanical Process

By 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)
• Lithium-Cobalt Oxide (LCO).

By End-user

• Automotive
• Marine
• Industrial
• Power
• Others

 

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