Lithium-Ion Battery Recycling Market was valued at USD 1.87 Billion in 2018 and is expected to reach USD 13.25 Billion by 2026, at a CAGR of 27.73% during the forecast period.
Resources for lithium-ion battery production are limited in comparison to its demand from different end-use industries. Research and then commercialization of recyclable lithium ion batteries are taking place especially for its applications in the automobile industry for hybrid cars as well. Recycling of lithium-ion batteries will allow better and long-term usage thereby controlling the manufacturing process resulting in lower carbon-dioxide emissions. Recycling of utilized materials further helps in the preservation of natural resources and reduce carbon footprint. These factors are driving the lithium- ion battery recycling market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
By chemistry, lithium-iron-phosphate is expected to be the fastest- growing recyclable battery type during the forecast period. Demand for lithium-iron phosphate batteries is very superior for high-power devices and equipment. This includes transportation and lightweight marine batteries lead that has a positive impact on the growth of lithium-ion battery recycling market.
The Asia Pacific is the fastest-growing region with factors such as the growing automotive industry in Japan, China and India have majorly contributed to the growth. The Asia Pacific will also maintain its dominance over the global market and has formed the largest market for lithium-ion battery recycling market.
Scope of the Report:
Lithium Ion Battery Recycling Market, by Technology:
• Hydrometallurgical Process
• Pyrometallurgy Process
• Physical/Mechanical Process
• Recycling Technologies Used Across Regions
Lithium Ion Battery Recycling Market, by Chemistry:
• Lithium-manganese Oxide Spinal
• Lithium-titanate Oxide
• Lithium-nickel Cobalt Aluminum Oxide
• Lithium-nickel Manganese Cobalt
• Lithium-iron Phosphate
• Lithium-cobalt Oxide
Lithium Ion Battery Recycling Market, by Industry:
Lithium Ion Battery Recycling Market, by Region:
• Asia Pacific
• North America
• Middle East & Africa
• Latin America
Key Players Operating in the Lithium-Ion Battery Recycling Market:
• Umicore (Belgium)
• Glencore (Switzerland)
• Retriev Technologies (US)
• Raw Materials Company (Canada)
• American Zinc Recycling (INMETCO) (US)
• Battery Recycling Made Easy (US)
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