Leaders have deployed large or multiple battery recycling projects and are proactively broadening their technology and solution offering portfolios
BOULDER, Colo., Feb. 6, 2024 /PRNewswire/ — A new report from Guidehouse Insights assesses the competitive landscape of companies offering lithium ion (Li-ion) battery recycling.
Li-ion batteries dominate the electromobility and stationary energy storage markets. With EVs’ growing market share and the shift to 24/7 renewables, questions about end-of-life battery solutions arise. While some batteries can be reused for other applications—particularly used EV batteries—Li-ion battery recycling will be crucial in achieving a circular economy and critical minerals independence. According to Guidehouse Insights, Li-Cycle, Aqua Metals and Redwood Materials are the leading vendors offering Li-ion battery recycling.
Currently, China dominates lithium refining as well as Li-ion battery production. This imbalance of production puts North America and Europe at a disadvantage, as they do not control the whole supply chain, which is crucial to securing the transition to sustainable energy systems. Furthermore, the supply of raw materials for Li-ion batteries is limited and concentrated in a few countries across the globe.
“Battery recycling offers a solution to this problem, allowing North America and Europe to keep the critical materials used in the batteries that already entered the local market,” says Ernest Rozbicki, research analyst with Guidehouse Insights. “By the end of the decade, many first-generation EVs and stationary batteries will reach their end of life, so recycling companies will need to be prepared to handle such a large influx of feedstock.”
Since Li-ion batteries have an average lifetime of 8-12 years, large numbers of end-of-life batteries will become available for recycling and reuse. Recycled battery materials will be crucial in securing the supply chain, according to the report.
The report, Guidehouse Insights Leaderboard: Lithium Ion Battery Recycling Companies, assesses the major Li-ion battery recyclers, including their current recycling capabilities, market position, and expansion plans. Most companies are still in the pilot stages of their technologies, and although the market size is relatively small, many players are trying to establish themselves as the go-to provider, to capture as much of the market as possible before it booms at the end of the decade. Both legacy recyclers (companies with experience recycling precious metals and scrap) as well as newcomers (companies dedicated to Li-ion battery recycling) are active in the space. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has more than 16,000 professionals in over 55 locations globally. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, Guidehouse Insights Leaderboard: Lithium Ion Battery Recycling Companies, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
[email protected]
SOURCE Guidehouse Insights
