According to the report the global lithium-ion batteries recycling market reached a value of USD 2.31 billion in 2022. Aided by the escalating demand for sustainable energy solutions and the significant surge in the consumption of lithium-ion batteries across various sectors, the market is projected to further grow at a CAGR of 19.14% between 2023 and 2028 to reach a value of USD 6.6 billion by 2028.
Lithium-ion batteries, widely recognised for their high energy density and long cycle life, have become an indispensable component in an array of applications, from smartphones and laptops to electric vehicles and renewable energy systems. As these batteries reach their end-of-life, the urgency to recycle and recover valuable metals like lithium, nickel, cobalt, and manganese intensifies, not only to ensure resource efficiency but also to mitigate potential environmental hazards.
A prominent factor propelling the global lithium-ion battery recycling market growth is the burgeoning emphasis on sustainable resource utilisation. The realisation that finite resources like cobalt and lithium could face supply constraints in the future has necessitated the drive towards recycling. By recycling used lithium-ion batteries, industries can ensure a steady supply of these metals, thus promoting circular economy principles and reducing the dependence on virgin raw materials.
Moreover, the boom in the electric vehicle (EV) market significantly augments the lithium-ion battery recycling market demand. As EV adoption rates soar, there will be an inevitable surge in end-of-life batteries in the upcoming decade. Recycling these batteries will not only prevent potential environmental issues but also help cater to the material demand for new battery production.
Various industries are also recognising the inherent value trapped in spent lithium-ion batteries. In the realm of consumer electronics, the surge in gadgets and devices powered by these batteries creates a vast repository of recyclable materials. This not only drives the market growth from an economic perspective but also aligns with global sustainability and waste reduction goals.
Looking ahead, the lithium-ion battery recycling market outlook brims with opportunities. With industries and governments worldwide emphasising green initiatives and sustainable practices, recycling is poised to gain unprecedented momentum. Moreover, as research intensifies, innovative and efficient recycling methods are on the horizon, further consolidating the market's robust growth prospects.
Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Lithium-ion batteries, widely recognised for their high energy density and long cycle life, have become an indispensable component in an array of applications, from smartphones and laptops to electric vehicles and renewable energy systems. As these batteries reach their end-of-life, the urgency to recycle and recover valuable metals like lithium, nickel, cobalt, and manganese intensifies, not only to ensure resource efficiency but also to mitigate potential environmental hazards.
A prominent factor propelling the global lithium-ion battery recycling market growth is the burgeoning emphasis on sustainable resource utilisation. The realisation that finite resources like cobalt and lithium could face supply constraints in the future has necessitated the drive towards recycling. By recycling used lithium-ion batteries, industries can ensure a steady supply of these metals, thus promoting circular economy principles and reducing the dependence on virgin raw materials.
Moreover, the boom in the electric vehicle (EV) market significantly augments the lithium-ion battery recycling market demand. As EV adoption rates soar, there will be an inevitable surge in end-of-life batteries in the upcoming decade. Recycling these batteries will not only prevent potential environmental issues but also help cater to the material demand for new battery production.
Various industries are also recognising the inherent value trapped in spent lithium-ion batteries. In the realm of consumer electronics, the surge in gadgets and devices powered by these batteries creates a vast repository of recyclable materials. This not only drives the market growth from an economic perspective but also aligns with global sustainability and waste reduction goals.
Looking ahead, the lithium-ion battery recycling market outlook brims with opportunities. With industries and governments worldwide emphasising green initiatives and sustainable practices, recycling is poised to gain unprecedented momentum. Moreover, as research intensifies, innovative and efficient recycling methods are on the horizon, further consolidating the market's robust growth prospects.
Market Segmentation
The market can be divided based on battery component, source, battery chemistry, recycling process, end use, and region.Market Breakup by Battery Component
- Active Material
- Non-active Material
Market Breakup by Source
- Electric Vehicles
- Electronics
- Power Tools
- Others
Market Breakup 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)
Market Breakup by Recycling Process
- Hydrometallurgical Process
- Pyrometallurgy Process
- Physical/Mechanical Process
- Others
Market Breakup by End Use
- Automotive
Non-automotive
- Industrial
- Power
- Marine
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global lithium-ion battery recycling market. Some of the major players explored in the report are as follows:- Umicore
- Retrieve Technologies
- RecycLiCo Battery Materials Inc.
- Li-Cycle Holdings Corp.
- JCV Holdings Group
- Neometals Ltd
- Fortum Corporation
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market15 Value Chain Analysis17 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Market Snapshot
8 Global Lithium-ion Batteries Recycling Market Analysis
9 North America Market Analysis
10 Europe Market Analysis
11 Asia Pacific Market Analysis
12 Latin America Market Analysis
13 Middle East and Africa Market Analysis
14 Market Dynamics
16 Competitive Landscape
Companies Mentioned
- Umicore
- Retrieve Technologies
- American Manganese Inc.
- Li-Cycle Holdings Corp.
- JCV Holdings Group
- Neometals Ltd
- Fortum Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 157 |
| Published | August 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 2.75 Billion |
| Forecasted Market Value ( USD | $ 6.6 Billion |
| Compound Annual Growth Rate | 19.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
