Global Lithium Battery Recycling Marketis valued atUSD 1467.2 Million in 2020and expected to reachUSD 2735.9 Million by 2027with aCAGR of 8.1%over the forecast period.

Global Lithium Battery Recycling Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Rapid growth inelectrical vehicle market, rising concern about battery waste disposalandincreasing developments in processes of recyclingare the significant factors driving the growth of the Global Lithium Battery Recycling Market.

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ScopeLithium Battery RecyclingMarket Report:

Lithium battery is a type of rechargeable battery. These are normally used for portables electronics and electric vehicles and are rising in popularity for military electric and aerospace applications. Lithium ion batteries have made portable electronics everywhere and they are about to do the same foe electric vehicles. These are used in many products like toys, wireless headphones, handheld power tools, small and large appliances, and electrical energy storage systems. These batteries are valuable and recyclable. Battery recycling is activity that aims to reduce the number of batteries being disposed as solid waste. The enormousness of the impending spent-battery situation is driving researchers to search for cost effective, environmentally sustainable strategies for dealing with the vast stockpile of Lithium batteries. For recycling of Li-ion batteries hydrometallurgical recycling process is used which has high recycling rate and it emits low CO₂. During recycling firstly made safe for mechanical treatment, with plastics, Al and Cu separated. Then remaining left of the battery is the “black mass”. This black mass consists of a mixture of Li, Mn, Cobalt, and Ni in different ratios. In this Ni, Li and cobalt are most important components and difficult to recover. When these batteries are disposed of in trash, we lose the critical minerals from these batteries.

The COVID-19 outbreak has impacted negatively on the growth of lithium battery recycling market. This pandemic delayed various operations in various industries. Also government halts the cross border trade activities which directly affect the production. The majority of plants were shut down due to pandemic.

GlobalLithium Battery RecyclingMarket Segmentation:

The lithium battery recycling market is divided into battery chemistry, source, recycling process, end-use and region & country level. Based on battery chemistry, the Lithium battery recycling market is segmented into Lithium-Nickel Manganese Cobalt (Li-NMC), Lithium-iron Phosphate (LFP), Lithium-manganese Oxide (LMO), Lithium-Titanate Oxide (LTO) and Lithium-nickel Cobalt Aluminium Oxide (NCA). Based on source, the market is segmented into electronics, electric vehicles, power tools and others. Based on recycling process, the market is divided into physical/mechanical, hydrometallurgical and pyrometallurgical. Based on end-use market is divided into automotive, industrial, power, mining, consumer electronics 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 Aluminium Oxide (NCA).

By Sources:

• Electronics
• Electric Vehicles
• Power Tools
• Others

By Recycling Process:

• Physical/mechanical
• Hydrometallurgical
• Pyrometallurgical

By End-User:

• Automotive
• Industrial, Power
• Mining
• Consumer Electronics
• Marine

The regions covered in lithium battery recycling market report are North America, Europe, Asia-Pacific, and rest of the world. Based on country level, the market of lithium battery recycling is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Key Players for GlobalLithium Battery RecyclingMarket:

Some major key players for Global lithium battery market report cover prominent players like Sumitomo Metal Mining Co. Ltd, Lithion Recycling lnc., SNAM, BATREC Industries AG, Fortum, DOWA ECO-SYSTEM co. Ltd., ACCUREC Recycling GmbH, AkkuSer, Neometals Ltd, duesenfeld, Glencore International AG, International Metals Reclamation Company, LLC/INMETCO, Redux GmbH, uRecyclr Group, Retriev Technologies lnc., Umicore, Raw Material Company and others.

Rapid Growth in Electrical Vehicle Market, Rising Concern about Battery Waste Disposal andIncreasing Developments in Processes of Recyclingare the Significant FactorsDriving the Market Growth

Rapid growth in electrical vehicle market is one of the major factors driving the growth of global lithium battery recycling market. For instance; according to Procedia Manufacturing 2019, the compound annual growth rate for plug-in hybrid electrical vehicles (PHEVs) is to be 56% in the period 2017-2020 and the growth rate of fully battery electrical vehicles is to be 42% for the same period. The total global capacity for vehicle LIB manufacturing was more than 31Gwh in 2016 and demand was expected to exceed 120Gwh by 2020. This rapid growth requires more than 550,000 metric tons of battery materials like Li, Ni, graphite, cobalt etc. Current production of materials for LIB is limited.

In addition, rising concern about battery waste disposal is another major factor fostering the growth of global lithium battery recycling market. According to Green Chem 2020; the lithium ion battery waste worldwide in 2020 was estimated to be approximately 250000 tons. This waste is untreated chemical waste which is very hazardous for all living beings and environment. Hence the recycling and reuse of these batteries is very important. Furthermore, increasing developments in processes of recycling is fueling the growth of global lithium battery recycling market. For example, in September 2020, Solvay and Veolia partnered up to develop a circular economy consortium.

However the high initial investment in the recycling of lithium batteries may restraint the growth of the lithium battery recycling market. In spite of that, strict government policies for untreated chemical waste and growing automotive sector can offer more opportunity for the further growth of global lithium battery recycling market.

Asia Pacific is Anticipated to Witness a Fastest Growth in the Global Lithium Battery Recycling Market

Geographically; Asia Pacific is expected to show a fastest growth in the global lithium battery recycling market over the forecast period due to presence of large number of recycling companies, increasing demand of lithium batteries and large battery installed base and favorable battery energy storage policies. According to Multidisciplinary Digital Publishing Institute (MDPI) 2021, China is the biggest market with 68% of global battery demand in 2018. It will also increase by tenfold by 2030. For instance in 2020, the South Korean company GS Engineering & Construction Corporation, announced the construction of new facility for recycling of lithium batteries with an investment $86 million by 2022. They declared new unit with projected capacity of 4-5 kilo tons is awarded by Pohang city and North Gyeongsang Province Administations to propel the industry outlook. Also major players of the lithium batteries recycling companies are from Asia Pacific. For instance, in July 2019, BRUNP wants to develop another plant for producing around 100,000 tons/year of lithium-ion battery (LIB) scrap in China. It will begin working from 2020.

North America is expected to show a significant growth in this market due to increasing investment in research and development facilities and government support for recycling technologies. For instance; according to U.S. Department of Energy 2019, by 2022 they will reduce the cost of electric vehicle battery packs to less than $150/kWh. To achieve this goal VTO will support three areas of R&D, production first one is low cobalt or no cobalt active cathode materials for next generation Li batteries. In addition, increasing number of R&D centers which are focused on cost effective recycling processes to recover lithium battery critical materials in this region are also supplementing the market growth. Also they proclaimed its plans to invest about USD 20.5 million in battery recycling infrastructure to set up new R&D facilities. For instance; in January 2021, the Canadian firm Li-Cycle announced the construction of new plant of lithium battery recycling in Rochester of about US$175 million. This will be the largest lithium battery recycling plant in this region.

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Key Benefits of Lithium Battery Recycling Market Report-

• Global Lithium Battery Recycling Market report covers in-depth historical and forecast analysis.
• Global Lithium Battery Recycling Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
• Global Lithium Battery Recycling report helps to identify opportunities in marketplace.
• Global Lithium Battery Recycling Market report covers extensive analysis of emerging trends and competitive landscape.

This comprehensive report will provide:

• Enhance your strategic decision making
• Assist with your research, presentations and business plans
• Show which emerging market opportunities to focus on
• Increase your industry knowledge
• Keep you up-to-date with crucial market developments
• Allow you to develop informed growth strategies
• Build your technical insight
• Illustrate trends to exploit
• Strengthen your analysis of competitors
• Provide risk analysis, helping you avoid the pitfalls other companies could make
• Ultimately, help you to maximize profitability for your company.

Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2019?
• How will each segment grow over the forecast period and how much revenue will these segment account for in 2027?
• Which region has more opportunities?

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