Lithium Ion Battery Recycling Market Overview
According to a research survey conducted by ChemView Consulting, in 2022, the Global Lithium Ion Battery Recycling Market was worth US$ 3,874.6 Mn and is expected to grow at a CAGR of 21.3% over the forecast period. While the historical CAGR is 4.1%, the market is expected to hit US$ 26,719.9 Mn by 2032 end.
One of the main drivers driving the market for lithium-ion battery recycling is the rising demand for electric cars throughout the world, together with subsidies offered by governments of different nations for battery recycling. Due to worries about the environmental harm caused by vehicles running on conventional energy sources like diesel and petrol, there has been a considerable increase in demand for electric cars. One of the key drivers is the declining cost of batteries for electric vehicles.
ChemView Consulting has analyzed that The demand for battery recycling is anticipated to increase throughout major economies due to strict government rules for safe battery disposal and bottlenecks in the supply of raw materials. Compared to the expected demand from diverse end-use sectors, the resources available for creating new batteries are few.
To reduce harmful environmental effects, efficient waste management and the recovery of precious minerals and metals from batteries are both vital. Manufacturing recycled batteries using recovered metal can significantly reduce CO2 emissions and the energy needed for mining.
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Segments Covered in Report
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)
By Application:
- Transportation
- Consumer electronics
- Industrial
By Recycling Process:
- Hydrometallurgical Process
- Pyrometallurgy Process
- Physical/ Mechanical Process
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Lithium Ion Battery Recycling Market
- Based on Chemistry, due to its expanding use in energy storage systems and the automotive industry in e-bikes and other electric vehicles, the lithium-nickel manganese cobalt category had the greatest proportion of the lithium-ion battery recycling market. Lithium-nickel manganese cobalt (Li-NMC) batteries are in high demand because of their low cost, high energy density, and extended life cycle.
- In 2021, North America led the lithium-ion battery industry, and it is anticipated that it will continue to do so between 2022 and 2032. The US is one of North America’s biggest markets for recycling lithium-ion batteries. During the forecast period, the market for lithium-ion battery recycling is anticipated to develop due to the expansion of electric cars in the area and government laws about lithium-ion battery recycling.
- The market for electric vehicles in the area will be improved by rising investments from major industry participants and expanding infrastructure for electric cars, which will favorably affect the lithium-ion battery recycling industry.
Competition Summary
Key companies covered in the market study are Glencore, Retriev Technologies Umicore, Saubermacher Dienstleistungs AG, American Manganese Inc, Li-Cycle Corp, Akkuser Oy, TES, Fortum, Contemporary Amperex Technology Co, Limited, GEM Co., Ltd, Ganfeng Lithium Co., Ltd., Attero, ACCUREC-Recycling GmbH, Duesenfeld GmbH, Tata Chemicals Ltd.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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