Lithium-ion Battery Recycling Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMEP1925 | Last Updated On: Jun 28 2022 | Available Formats

> Global Lithium-ion Battery Recycling Market Expected to reach a high CAGR of 23% By 2029 | DataM Intelligence

Lithium-ion Battery Recycling Market is segmented By End User (Electronics, Industrial, Automotive, Others), By Technology Process (Physical and Mechanical Process, Hydrometallurgical Process, Pyrometallurgy Process), By Type (Lithium-iron Phosphate, Lithium-nickel Manganese Cobalt, Lithium-Titanium Oxide, Lithium-Manganese Oxide, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Lithium-ion Battery Recycling Market Size Growth Rate Overview:

Lithium-ion Battery Recycling Market size is projected to reach USD XX billion by 2029, with growth at a CAGR of 23% during the forecast period 2022-2029. Lithium-ion battery recycling is mentioned to a group of lithium-ion batteries from several sources containing industrial, aerospace applications, automotive, consumer, and electronics appliances, and retrieval of metals of elements over recycling procedures. The global Lithium-ion Battery Recycling Market projection contains revenue recorded by selling these improved metals whether that drives into additional battery recycling or other user applications. Supposedly, maximum metals recovered to go into battery industrialized only.

Market Growth Demand:

The Lithium-ion battery market witnessed prominent growth strategies by several private and public companies to improve their recycling volumes to boost the market landscape. The arrangements of a new recycling structure are projected to increase suggestively the rate of commercialization for numerous recycling procedures. It will produce top technology demand throughout the coming years. A progressive inclination to the positioning of clean power sources to deliver effective input to dissimilar applications is probable to boost the growth of the global Lithium-ion Battery Recycling Market.

The lithium-ion battery is a type of rechargeable battery which are in popular demand for portable electronics, electric vehicles and in aerospace applications, etc. Recycling can recover nearly 25-95 percent of the lithium-ion cell's material, depending on the type of technology used for the separation. Hydrometallurgical process, pyro-metallurgy, and other mechanical processes are used to achieve recycling.

Market Restraints:

Elements such as environmental protection, government regulations, and consciousness among customers are projected to drive the growth of the market. Still, incorrect separation of hazardous materials used in batteries, incorrect disassembling, and improper shredding are anticipated to hinder the Lithium-ion Battery Recycling Market growth over the forecast period.

Regional Analysis:

Among all the regions, North America Lithium-ion Battery Recycling Market is the highest producer of revenue share in the global market over the forecast period. Apart from the North American region, Europe showed the uppermost growth rate in the global Lithium-ion Battery Recycling Market, and it remains under its control over the forecast period. This is accounted to several elements such as the occurrence of a huge customer base and the presence of major companies in the European region.

Besides, regulations on environmental pollution and speedy improvement of the electric vehicles industry in the region are projected to donate to the growth of the European market.

Asia Pacific Lithium-ion Battery Recycling Market is anticipated to dominate the global market over the period of forecast owing to the development of the manufacturing industry, renewable power, and demand for electric vehicles.

At present, China is the biggest market for EVs, as China registers for approximately 39% of the global market sales. China is struggling to minimize the environmental pollution level in their country, and it is projected to produce a large growth rate in EV sales, accordingly controlling the huge demand for lithium-ion batteries.

Lithium-ion Battery Recycling Market Scope

Metrics

Details

Market CAGR

23%

Segments Covered

By Technology Process, By End User, By Type, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Market

Asia Pacific

Largest Market Share 

North America

Market Segmentation:

Lithium-ion Battery Recycling Market – By End User:

  • Electronics
  • Industrial
  • Automotive
  • Others

The electronics segment saw the highest share in the global Lithium-ion Battery Recycling Market over the forecast period, due to the rise of independence of extremely effective power sources in laptops, smartphones, digital cameras, and other electronic devices.

Based on end-user, the non-automotive segment registered the uppermost share of the global lithium-ion battery recycling market revenue share in 2020.

Lithium-ion Battery Recycling Market – By Technology Process:

  • Physical and Mechanical Process
  • Hydrometallurgical Process
  • Pyrometallurgy Process

The hydrometallurgical process segment showed the largest share in the global market.

Lithium-ion Battery Recycling Market – By Type:

  • Lithium-iron Phosphate
  • Lithium-nickel Manganese Cobalt
  • Lithium-Titanium Oxide
  • Lithium-Manganese Oxide
  • Others

Lithium-manganese oxide segment recorded the highest share in 2020 in the global Lithium-ion Battery Recycling Market, due to increasing demand for lithium-manganese oxide batteries from applications containing gas and water meter, electricity, fire, and smoke alarms, and other applications.

Geographical Classification:

According to the report, the global market is divided into five major regions and countries such as North America the United States, and Canada. Latin America region into Brazil, Argentina, and Mexico. Europe into Germany, United Kingdom, Spain, London, Italy, Russia, Ukraine, and the rest of the European countries. The Middle East and Africa into KSA, UAE, Qatar, and South Africa. The Asia Pacific into India, China, Japan, Australia, South Korea, Singapore, and the rest of the APAC counties.

Competitive Landscape and Major Companies Covered in the Global Market:

The major players are pursuing various growth strategies, such as product launches, acquisitions, and collaborations, which are contributing to the global growth of the Li-ion battery recycling market. Umicore SA, Glencore PLC, GS Yuasa Corporation, Brunp Recycling, Storage Battery System, International Metals Reclamation Company, Retriev Technologies, Taisen Recycling, TES-Amm, and Duesen are some of the key players contributing to the market's growth.

Company Profile: Umicore SA

Overview: Umicore SA is a global material technology and recycling company that focuses on reducing harmful emissions and reusing used metals to power future vehicles and technologies. It was established in 1805.

Product Portfolio: The company began with a variety of mining and smelting operations and gradually evolved to develop material technology and recycling of specific metals such as cobalt, zinc, germanium, Lithium, and others.

Recent Developments: 1) ENGIE and Umicore signed a long-term corporate Power Purchase Agreement (PPA) in July 2021 to supply renewable electricity to Umicore's greenfield plant in Nysa, Poland. It is Europe's first plant to produce cathode materials, which are essential components of rechargeable Li-ion batteries used in electric vehicles.

2) Umicore acquired cobalt refining and cathode precursor activities from Freeport Cobalt Oy, a Finnish company, in 2019. The acquisition was estimated to be worth around $200 million USD.

The global Lithium-ion battery recycling market report would provide access to an approx: 76 market data tables, 80 figures, and 180 pages.

 

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