Lithium-Ion Battery Recycling Market Size, Share, Growth Analysis, By Chemistry(Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP)), By Source(Electronics, Electric Vehicles), By Recycling Process(Physical/Mechanical, Hydrometallurgical) - Industry Forecast 2024-2031

Asia Pacific will dominate the market as the region is a major hub for lithium-ion batteries. China, Japan and South Korea are all producers of lithium-ion batteries and generate significant amounts of waste from these batteries. Lithium-ion batteries have been used primarily in consumer electronics, such as mobile phones, notebooks and PCs, but are now increasingly being redeveloped for use as the power source of choice in hybrid and of all electric vehicles (EVs), due to factors such as lower environmental footprint, or other greenhouse gases. Another attractive market such as electric vehicle energy storage systems (ESS); emerging applications both Commercial and residential, is driving demand for LIBs. In addition, ESS and renewable energy sources, such as wind, solar, or hydro, are technically and commercially necessary to stabilize the grid and sustain the LIB phase.

North America is the fastest growing region in the global lithium-ion battery recycling market, as the demand for lithium-ion batteries is increasing due to the rapidly growing automotive industry. Furthermore, electric vehicles (EV) using lithium-ion batteries) Increased popularity, and growing environmental awareness in the region, which increasingly controls recycling, are factors the lithium- ion battery recycling market continues in the European region.