Mark Twain's blog : Lithium-Ion Battery Recycling Market is projected to grow at a higher CAGR till 2028

The Lithium-Ion Battery Recycling Market is estimated to increase at a fastest rate over the forecast period (2021-2028).

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The factors driving growth of the market includes rising popularity of electric vehicles, reduction in the prices of lithium-ion batteries, growing concerns regarding the environmental pollution and biological hazards, growing demand for UPS systems in commercial infrastructure. Moreover, growing adoption of advanced technologies, Government policies promoting the use of renewable sources of energy, rise in the launch of new products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic partnerships and collaborations between enterprises, growing disposable incomes and rising population growth rates, are further contributing to the market growth.

However, growth of the Lithium-Ion Battery Recycling Market is hindered attributed to high cost of recycling.

The major players operating in the market are Snam SPA, Sumitomo Metal Mining Co., Ltd., Lithion Recycling, Umicore N.V., Glencore, American Zinc Recycling, BATREC INDUSTRIE AG, Fortum, Retriev Technologies, and Raw Materials Company, among others.

Based on Battery Chemistry, the Lithium-nickel Manganese Cobalt (Li-NMC) segment is predicted to grow at a significant CAGR during the forecast period

Lithium-Nickel-Manganese-Cobalt-Oxide (LiNiMnCoO2) enhances overall and are increasingly used to produce power tools, batteries, and e-bikes, which is propelling growth of the segment.

Based on End-Use, the Automotive segment is projected to expand at a remarkable CAGR over the forecast period

Subsidies provided by governments related to battery recycling and increasing eventration of electric vehicles, are propelling growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period

Government policies promoting the manufacturing of electric vehicles, rising concerns related to climate change and global warming, rapid urbanization, increased adoption of advanced technologies and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.

Key Developments

In 2021, Li-Cycle Holdings developed a commercial lithium-ion battery recycling facility in Tuscaloosa, Alabama, which will process approximately 5,000 tons of battery production scrap and end-of-life batteries per year.
In 2021, Glencore partnered with Britishvolt, to strengthen its position in the lithium-ion battery recycling market and to expand its product portfolio.
In 2021, Accurec decided to reconstruct the Krefeld plant ,which has double security storage and building capacity for lithium batteries. This development boosted the production capacity of the company and ensured growth in the lithium-ion battery recycling market.

Market Segmentation

Segmentation by Battery 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)

Segmentation by End-Use

Automotive
Power
Industrial
Marine

Segmentation by Region

Asia Pacific
- China
- Japan
- India
- Rest of APAC
North America
- United States of America
- Canada
Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE

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