DUBLIN, July 28, 2023 /PRNewswire/ — The “Lithium-ion Battery Recycling Market by Source (Automotive, Non-automotive), Battery Chemistry, Battery Components, Recycling Process (Hydrometallurgical Process, Pyrometallurgy Process, Physical/ Mechanical Process), and Region – Global Forecast to 2031” report has been added to ResearchAndMarkets.com’s offering.
The report projects significant growth in the lithium-ion battery recycling market, reaching USD 35.1 billion by 2031, with a CAGR of 20.6% during the forecast period.
Market Dynamics:
The lithium-ion battery recycling market is poised for intense growth across various sources, including automotive and non-automotive sectors such as industrial, consumer electronics, power, and marine.
Drivers:
- Increase in Demand for Electric Vehicles
- Stringent Local and State Government Regulations and EPA Guidelines
- Rising Demand for Recycled Products and Materials
- Depletion of Earth Metals
Restraints:
- Safety Issues Related to Storage and Transportation of Spent Batteries
Opportunities:
- Subsidies to Encourage Battery Recycling
- Rising Adoption of Lithium-Ion Batteries due to Declining Prices
Challenges:
- High Cost of Recycling and Dearth of Technologies
Battery Chemistry Insights:
- Lithium-iron-phosphate (LFP) segment expected to be the second-largest segment in the lithium-ion battery recycling market from 2022 to 2031.
- LFP batteries are widely used in high-power devices and equipment due to their long-life cycle, high current rating, and enhanced safety.
- Increasing adoption of LFP batteries in electric vehicles and power tools expected to drive growth in the LFP segment.
Source Analysis:
- Consumer electronics segment holds the largest share in the non-automotive segment of the lithium-ion battery recycling market in 2022.
- Lithium-ion batteries are preferred for consumer electronics due to their high energy density and shorter recharge time, leading to increased generation of spent batteries for recycling.
Regional Projections:
- Europe projected to witness the highest CAGR in the lithium-ion recycling market from 2022 to 2031.
- Europe’s focus on reducing emissions and promoting electric vehicles drives the demand for lithium-ion battery recycling in the region.
Competitive Landscape
Key Companies
- Umicore
- Glencore
- Cirba Solutions
- Contemporary Amperex Technology Co. Limited
- Recyclico Battery Materials Inc.
- American Battery Technology Company
- Accurec Recycling GmbH
- Ecobat
- Fortum
- Gem Co. Ltd.
- The International Metals Reclamation Company
- Li-Cycle Corp.
- Neometals Ltd.
- Redwood Materials Inc.
- Stena Recycling
- Tes
Other Companies
- Envirostream Australia Pty Ltd.
- Battery Recycling Made Easy (Brme)
- Duesenfeld GmbH
- Smc Recycling
- Tata Chemicals Limited
- Lithion Recycling
- Onto Technology
- Batrec Industrie
- Euro Dieuze Industrie (E.D.I.)
- Sitrasa
Case Study Analysis:
- Attero Recycling: Key highlights and success stories of the company’s approach to lithium-ion battery recycling.
The report provides a comprehensive analysis of the lithium-ion battery recycling market’s drivers, restraints, opportunities, and challenges. It includes valuable insights into the value chain and ecosystem of the market, along with a technology analysis and tariff and regulatory landscape. The study also presents a patent analysis, key conferences and events, trade data, and pricing analysis.
For more information about this report visit https://www.researchandmarkets.com/r/nhwvgz
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SOURCE Research and Markets
