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Li-ion Battery Recycling Market CAGR Anticipated 21.43% to Reach 24.31 billion by 2030 | Competitive Developments and Global Trends

Aug 25, 2022 6:00 AM ET

Li-ion Battery Recycling Market CAGR Anticipated 21.43% to Reach 24.31 billion by 2030 | Competitive Developments and Global Trends

Li-ion Battery Recycling Market Analysis:

Lithium-ion Battery Recycling Market is projected to be worth USD 24.31 billion by 2030, registering a CAGR of 21.43% during the forecast period (2022 – 2030)

Drivers –

Government support for renewable energy and electric vehicle infrastructure projects

increased use of electric vehicles, smart portable electronics and the growing grid storage industry

Opportunities

New product launches and R&D Amongst major key Players

Restraints

Less Battery Chemistrys In Other Verticals

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Key Companies Profiled

  • Umicore
  • Glencore International AG
  • Retriev Technologies Inc.
  • Raw Materials Company Inc. (RMC)
  • International Metals Reclamation Company LLC (INMETCO)
  • American Manganese Inc.
  • Sitrasa
  • Li-Cycle Corp.
  • Neometals Ltd
  • Recupyl Sas
  • Tes-Amm Singapore Pte Ltd
  • Fortum OYJ
  • GEM Co. Ltd
  • Tata Chemicals Limited
  • Onto Technology LLC
  • Lithion Recycling Inc.
  • Ecobat Technologies Ltd.
  • Battery Recycling Made Easy (BRME)
  • Euro Dieuze Industrie (E.D.I.)
  • Batrec Industrie AG
  • Urecycle Group Oy.

Li-ion battery recycling is a dynamic and more attractive industry, for sure. With the rapid adoption of EVs, the demand for Li-ion batteries as well as Li-ion battery recycling will grow significantly in the coming decades. Currently, most of the recycling companies are located in China, for example: Brunp, Huayou Cobalt, GEM, and Europe, such as Umicore, Akkuser, Accurec. Chinese recycling companies are at an advantage. They benefit from an already large battery market, enjoy extensive support from the state and have good access to the high volume of material to be recycled.

Most of the recycling companies are gradually increasing their recycling capacity to accommodate the growing volume of end-of-life batteries. Still, it again depends on the investment required to increase the capacity.

To build a new recycling plant or increase the capacity of an existing plant needs high investment. High investment, the right strategies, and the rapid increase of recycling capacity are the key. Recycling players with high investment capability and the right approach may benefit. Therefore, today’s smaller players or newcomers can increase their market shares, and the leaders can see their market shares decreasing, all depending on their approach.

Most of the recycling companies are gradually increasing their recycling capacity to accommodate the growing volume of end-of-life batteries. Still, it again depends on the investment required to increase the capacity.

Market Segmentation

By End Use

  • Automotive
  • Non-automotive
  • [Industrial, Power, and Marine])

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)

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

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This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global lithium-ion battery recyclingmarket, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing and cost analysis.

Industry News

In September 2019, Umicore and LG Chem Ltd. (South Korea) entered into a multi-year strategic supply agreement for the supply of 125,000 metric tons of nickel, manganese, and cobalt cathode materials for lithium-ion batteries to LG Chem Ltd. The agreement became effective from January 2020. Under this agreement, Umicore is also expected to recycle LG Chem Ltd.’s cathode material production waste. Currently, both companies are undergoing discussions on long-term cooperation in battery recycling. The agreement is expected to help Umicore enhance its competitive edge in the battery recycling market globally.

About:

Market Research Future® (Part of WantStats Research and Media Pvt. Ltd.) has specialized research analysts in the areas of Aerospace & Defense, Automotive, C&M, Energy & Power, F&B, Healthcare & Pharmaceutical, ICT, Industrial Equipment, Packaging Construction & Mining and Semiconductor.

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.