Global lithium-ion battery recycling market is estimated at USD 1.5 billion in 2019 at a CAGR of 8.2% from 2025 to 2030. Any of the key prospects for the lithium-ion battery recycling industry are growing investments in the production of electric cars.
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Lithium-ion batteries are known for being the least toxic and easiest to recycle and reuse. Because of the high use of lithium-ion batteries in number of consumer products, the difficulty in disposing of them and the risk of explosion it is now essential to recycle lithium-ion batteries. Various technical procedures, such as pyrometallurgy, hydrometallurgical, and other mechanical methods, may be used to recycle lithium-ion batteries.
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The lithium-ion battery recycling market is being driven by increasing applications of lithium-ion batteries in end-use industries such as automotive, marine, and power generation, as well as the elimination of toxic effects of metals used in batteries and the second application of related metals by recycling. The growing recycling rate of lead-acid batteries, the increased focus on lithium-ion batteries, and the metal's limited availability all contribute to the lithium-ion battery recycling market's growth. The lithium-ion battery recycling market is influenced by the high use of lithium-ion batteries due to various chemical characteristics, increasing acceptance of EVs around the world, and government interventions in the form of regulatory and financial support for EV producers and buyers. Furthermore, the lithium-ion battery recycling industry benefits from rising demand for recycled goods and materials, increased demand for electric cars, and depletion of earth metals.
People are increasingly turning to renewable energy sources because they provide efficient input to a variety of applications. Across the globe, companies have accelerated the installation of several batteries for a variety of electric cars and energy storage systems. This is intended to help with the replacement of old batteries that produce waste due to their poor output quality.
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In addition, increasing production to lower lithium-ion battery prices, government incentives to promote battery recycling, and the adoption of new applications all provide lucrative opportunities for lithium-ion battery recycling market players in the forecast era. The high cost of recycling and scarcity of technologies for extracting lithium from spent lithium-ion battery recycling, on the other hand, are expected to stymie the lithium-ion battery recycling market's growth. In the forecast era, safety concerns about the storage and transportation of spent batteries are expected to pose a challenge to lithium-ion batteries.
The North America region is expected to lead the lithium-ion battery recycling industry in terms of both value and volume from 2025 to 2030. The US and Canada are the major lithium-ion battery recycling markets in the North American area. Demand for lithium-ion battery recycling is the highest in this field, and this trend is expected to continue over the 2019-2024 and 2025-2030 forecast period. This rise can be partly due to the strict regulations enforced by the Environmental Protection Agency (EPA) on air quality standards in the area.
Core strategies such as company expansion and product growth have been embraced by major players operating in the global lithium-ion battery recycling industry to improve their market outreach and sustain stiff competition in the sector. Increasing spending in services is projected to have a negative effect on demand in developing countries, including Germany and France. Given regulatory support to encourage domestic investment, the positive outlook for China and India's manufacturing industries is projected to play a crucial role in advancing market growth for smart recycling of lithium-ion batteries.
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Key Segments of the Global Lithium-ion Battery Recycling Market
Battery Chemistry Overview, 2018-2028 (USD Billion) (Tons)
Lithium-nickel Manganese Cobalt
• Lithium-iron phosphate
• Lithium-Manganese Oxide
• LTO
• NCA
• LCO
Application Overview, 2018-2028 (USD Billion) (Tons)
• Automotive
• Marine
• Industrial
• Power
Regional Overview, 2018-2028 (USD Billion) (Tons)
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
• Middle East and Africa
o UAE
o South Africa
o Rest of Middle East and Africa
• South America
o Brazil
o Rest of South America
Some Major Points from TOC
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Lithium-ion Battery Recycling Market by Battery Chemistry
Chapter 6 Lithium-ion Battery Recycling Market by Application
Chapter 7 Competitive Landscape
Chapter 8 Company Profiles
8.1 Hilti corporation
8.2 3M
8.3 Specified Technologies
8.4 ETEX
8.5 Morgan Advanced Materials
8.6 Akzo Nobel NV
8.7 Jotun
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