Lithium-Ion Battery Recycling Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Industry (Automotive, Marine, Power, Others), By Technology (Hydrometallurgical Process, Pyrometallurgy Process, Physical/Mechanical Process), By Region
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationLithium-Ion Battery Recycling Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Industry (Automotive, Marine, Power, Others), By Technology (Hydrometallurgical Process, Pyrometallurgy Process, Physical/Mechanical Process), By Region
Global Lithium-Ion Battery Recycling Market is predicted to develop at a rapid pace throughout the forecast period. The Global Lithium-Ion Battery Recycling Market has been gaining momentum in recent years due to the increasing demand for lithium-ion batteries and the need to reduce electronic waste. Lithium-ion batteries are widely used in various applications such as electric vehicles, consumer electronics, and energy storage systems. However, these batteries have a limited lifespan and need to be disposed of properly to prevent environmental pollution. Lithium-ion battery recycling has emerged as a viable solution to this problem and is expected to play a significant role in the future of sustainable energy.
Lithium-ion battery recycling involves the recovery of valuable metals such as lithium, cobalt, and nickel from used batteries. These metals can then be reused to manufacture new batteries, reducing the reliance on primary metal sources, and reducing the environmental impact of mining.
The Lithium-Ion Battery (LIB) Recycling Market is predicted to dominate the worldwide battery recycling market in the latter half of the forecast period, owing to the high demand for lithium-ion batteries and its capabilities, such as their advantageous capacity-to-weight ratio. Furthermore, rising concerns about battery waste disposal and stringent government policies, combined with an increase in lithium-ion battery usage due to falling battery prices and growing adoption of electric vehicles, are expected to drive the lithium-ion battery recycling market during the forecast period. Although the individual raw materials used in the production of lithium-ion batteries are cost-effective, their recycling is a costly process.
Increased demand clean energy sources and adoption of EV’s
Increasing demand for clean energy sources is driving growth in the Lithium-Ion Battery Market. Lithium-ion batteries are widely used in electric vehicles (EVs) and renewable energy systems, such as solar and wind power, as a reliable and efficient energy storage solution. The global transition to clean energy and the adoption of EVs is expected to continue to increase, leading to higher demand for lithium-ion batteries. In addition, advancements in technology are leading to increased efficiency and reduced costs for these batteries, making them even more attractive for use in a range of applications.
Increasing awareness about environmental sustainability
With more focus on environmental sustainability, governments, organizations, and individuals are becoming more conscious of the importance of recycling lithium-ion batteries to reduce waste and conserve natural resources.
Technological advancements &
As the technology for lithium-ion battery recycling continues to improve, the process is becoming more efficient and cost-effective, making it a more attractive option for companies and organizations. Governments around the world are introducing regulations and incentives to promote the recycling of lithium-ion batteries. For example, in the EU, regulations require that 95% of batteries in EVs must be recyclable by 2025.
Challenges for Global Lithium-Ion Battery Recycling Market.
Lithium-ion battery recycling is a relatively new industry, and the cost of the process is currently quite high. This can make it difficult for companies to justify the expense of recycling batteries, especially when they can purchase new batteries for a lower cost. The recycling infrastructure for lithium-ion batteries is still developing, and there are relatively few recycling facilities around the world. This can create logistical challenges for companies that need to transport their batteries to recycling centers.
Lithium-ion batteries can be dangerous if mishandled during the recycling process, as they contain flammable and toxic materials. This can make it difficult to ensure worker safety and to meet regulatory requirements for safe handling.
Recent Developments
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The conditional commitment is the result of extensive DOE technical, market, financial, and legal due diligence, and it represents yet another significant milestone in Li-development Cycles of the first commercial hydrometallurgical resource recovery facility in North America, near Rochester, New York (the "Rochester Hub"). This is the DOE ATVM program's first conditional commitment for a sustainable pure-play battery materials recycling firm, as well as the program's primary assistance for the lithium-ion battery recycling industry.
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Market Segmentation
Company Profiles
Green Technology Solutions, Inc, Li-Cycle Corporation, Glencore PLC, Recupyl Sas, Umicore SA, American Manganese Inc, Metal Conversion Technologies LLC, Retriev Technologies Inc, Raw Materials Company, TES-AMM Pte Ltd.,
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | By Industry By Technology By Region |
| Regional Scope | Asia-Pacific, North America, Europe, Middle East & Africa and South America |
| Country Scope | China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Turkey, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Colombia |
| Green Technology Solutions, Inc, Li-Cycle Corporation, Glencore PLC, Recupyl Sas, Umicore SA, American Manganese Inc, Metal Conversion Technologies LLC, Retriev Technologies Inc, Raw Materials Company, TES-AMM Pte Ltd.. | |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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