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Lithium-ion Battery Recycling Market Size To Reach USD 13.61 Billion By 2026 – Reports And Data

The Global Lithium-Ion Battery Recycling Market was valued at USD 2.64 Billion in 2019 and is speculated to reach USD 17.21 Billion by 2027, delivering a CAGR of 26.5% by the end of the forecast period according to a new report by Reports and Data. Raw materials used to manufacture lithium-ion battery are limited, whereas the demand…

The post Lithium-ion Battery Recycling Market Size To Reach USD 13.61 Billion By 2026 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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The Global Lithium-Ion Battery Recycling Market was valued at USD 2.64 Billion in 2019 and is speculated to reach USD 17.21 Billion by 2027, delivering a CAGR of 26.5% by the end of the forecast period according to a new report by Reports and Data. Raw materials used to manufacture lithium-ion battery are limited, whereas the demand is sky high from different end-users such as automotive, power, and consumer electronics, among others. Furthermore, the materials used in the batteries are hazardous to the environment. Reusing the utilized materials in the lithium-ion battery further helps in the preservation of resources; hence, the market for lithium-ion battery recycling is gaining popularity throughout the world.

The market for lithium-ion battery recycling is influenced by the rising demand for electric as well as hybrid electric vehicles where lithium-ion batteries are used extensively. Adoption of these vehicles results in a price hike of battery materials such as cobalt and lithium, hence making the recycling of lithium-ion battery industries more profitable.

The above-mentioned factors collectively create opportunities for market growth while factors such as safety issues while storage and transportation of spent batteries pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the lithium-ion battery recycling market owing to innovative efforts have enhanced the efficiency of recycling process.

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Key companies profiled in the report include:

Umicore
Glencore
Retriev Technologies
Raw Materials Company
American Zinc Recycling (INMETCO)
Battery Recycling Made Easy
Brunp Recycling
SungEel HiTech
Taisen Recycling
4R Energy Corp

 Further key findings from the report suggest

  • Lithium Iron Phosphate (LFP) battery type is forecasted to grow with the highest CAGR of 27.2% during the forecast period. These batteries have a high demand in high power devices, including the transportation of electric vehicles and lightweight marine batteries hence driving the market for lithium-ion battery recycling.
  • Hydrometallurgical process segment held the largest share of 42.1% in 2018. This process is considered the most suitable process for the recycling of spent lithium-ion batteries due to low capital cost and more environment-friendly nature than pyrometallurgy process.
  • Automotive segment held the largest market share of 39.3% in the year 2018. Lithium-ion batteries have a significant demand in electric automobiles because of high power density and compact size. This factor is expected to keep the recycling industry growing at a brisk rate.
  • The Asia Pacific region is forecasted to grow with the highest CAGR of 26.9% during the forecast period. This is due to the adoption of electric vehicles and smart vehicles, especially in China, India & Japan. The environmental concern among the governments regarding the toxicity of the lithium-ion battery is significantly fueling the lithium-ion battery recycling market.

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For the purpose of this report, Reports and Data have segmented into the global Lithium-ion Battery Recycling market on the basis of battery type, technology, end-use industries, and region:

Battery Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

  • Lithium-Nickel Manganese Cobalt (Li-NMC)
  • Lithium Iron Phosphate (LFP)
  • Lithium-Manganese Oxide (LMO)
  • Lithium-Titanate Oxide (LTO)
  • Lithium-Nickel Cobalt Aluminum Oxide (NCA)
  • Lithium-Cobalt Oxide (LCO)

Technology Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

  • Hydrometallurgical Process
  • Pyrometallurgy Process
  • Mechanical Process

End-use Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

  • Automotive
  • Marine
  • Power
  • Industrial
  • Others

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In-depth regional analysis covers:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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The post Lithium-ion Battery Recycling Market Size To Reach USD 13.61 Billion By 2026 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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