Global Lithium-Ion Battery Recycling Market

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

Report ID: SQMIG15A2413 | Region: Global | Published Date: March, 2024
Pages: 157 | Tables: 93 | Figures: 71

Lithium-Ion Battery Recycling Market News

  • March 2023 - Fortum Battery Recycling launched its EV battery recycling program in Kirchardt, Germany to offer its services to store and recycle spent end-of-life batteries near central European customers The German center produces 3,000 units per year. It can pre-treat more than 000 tonnes of batteries and connect them to the Harjavalta site where the hydrometallurgy process takes place.
  • February 2023 - Lee-Cycle announces U.S. The Department of Energy has provided a $375 million loan for lithium-ion batteries to create a recycling center for primary battery components near Rochester, New York Most of the attention has been focused on drilling because while the US has an abundance of lithium, It is then expensive to extract from the ground, and projects like this often face local opposition.
  • April 2023 - Glencore, FCC Embito and Iberdrola jointly announce a partnership to provide large-scale lithium-ion battery recycling solutions to Spain and Portugal aiming to overcome one of the biggest medium- to long-term challenges handle in the region, lithium- ion batteries.
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Lithium-Ion Battery Recycling Market size was valued at USD 3.22 billion in 2022 and is poised to grow from USD 3.79 billion in 2023 to USD 14.95 billion by 2031, growing at a CAGR of 21.6% in the forecast period (2024-2031).

The competitive environment of the Lithium-Ion Battery Recycling market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. The market competitive landscape provides detailed information from competitors. Detailed information includes company overview, company financials, earnings, market potential, investment in research and development, new market strategy, presence, manufacturing regions and locations of production, manufacturing capacity, company strengths and weaknesses, product launches, product expansion and expansion, application authority. 'Umicore N.V. (Belgium)', 'Retriev Technologies Inc. (U.S.)', 'Li-Cycle Corp. (Canada)', 'American Manganese Inc. (Canada)', 'GEM Co., Ltd. (China)', 'Recupyl S.A.S. (France)', 'Raw Materials Company Inc. (Canada)', 'Neometals Ltd. (Australia)', 'Accurec Recycling GmbH (Germany)', 'Glencore International AG (Switzerland)', 'G&P Batteries (U.K.)', 'Battery Recycling Made Easy (U.S.)', 'Brunp Recycling (China)', 'LITHION Recycling Inc. (Canada)', 'Eco-Bat Technologies Ltd. (U.K.)'

Growing Demand for Electric Vehicles to Unlock New Growth Potential

The market has witnessed various public and private players implementing significant expansion strategies to expand the Lithium-Ion Battery Recycling industry scenario to increase their recycling capacity. The establishment of a new recycling program is expected to significantly increase the sales volume of reusable lithium-ion batteries. It is also expected to lead to greater technological demand for rechargeable lithium-ion batteries in the coming decades.

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.

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Global Lithium-Ion Battery Recycling Market

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