Lithium-Ion Battery Recycling Market Introduction and Overview
According to SPER Market Research, the Global Lithium-Ion Battery Recycling Market is estimated to reach USD 39.06 billion by 2033 with a CAGR of 25%.
The report includes an in-depth analysis of the Global Lithium-Ion Battery Recycling Market, including market size and trends, product mix, applications, and supplier analysis. An electrochemical cell known as a lithium-ion battery (LIB) is composed of electrodes and catalysts in order to allow power generation for a variety of applications. Different precious metals with low reserves and high resale prices are the materials found in the cathode and anode tubes. In order to minimise the overall project cost and the environmental impact, the li-ion battery recycling process is used to recover and sell the raw materials stockpiled in the electrode composition. The market for recycled lithium-ion batteries will expand thanks to these considerations.
- Umicore unveiled Battery Recycling Solutions in March 2023 as a new business unit in response to the growing market demand. The objective of this calculated action is to take advantage of the industry's explosive growth and position Umicore as a major participant. Umicore is planning to significantly increase its recycling capacity as part of its growth plans. The business intends to build a cutting-edge, 150,000-ton battery recycling facility in Europe by 2026. With the help of this large-scale initiative, Umicore will be able to meet the growing demands for lithium-ion battery recycling and improve its standing in the industry.
- March 2022: Retriev Technologies has acquired Battery Solutions, forming North America's largest battery management solution. This merger creates a comprehensive recycling offering, establishing a "circular supply chain" for industry and consumers. By integrating their expertise, infrastructure, and services, the company becomes the sole industry player capable of managing all battery types throughout their life cycle. With a strategic national presence, the acquisition reinforces their commitment to the circular economy, addressing the increasing demand for sustainable battery management solutions.
Market Opportunities and Challenges
Battery recycling is becoming increasingly important because of the growing need for lithium-ion batteries in the automotive industry and the increasing popularity of electric vehicles (EVs). Demand for recycling services and technologies is driven by the growing number of electric vehicles (EVs) on the road, which in turn drives up the volume of end-of-life batteries that need to be recycled. Aesthetic battery design, easy battery installation, and the presence of protective layers to reduce the risk of fire and short circuiting are some of the factors that are expected to open up new potential opportunities in the global market. Lithium-ion battery recycling will have favourable opportunities throughout the projected period due to the expansion of recycling infrastructure and the rise in cooperation and partnerships among industry participants.
However, lack of infrastructure for end-of-life battery collection, sorting, and processing is one of the major issues facing the lithium-ion battery recycling sector. Effective and widespread battery recycling is hampered by the scarcity of recycling facilities and, in some areas, the absence of uniform procedures and laws. Additionally, recycling lithium-ion batteries requires intricate and sophisticated procedures to guarantee the safe disposal of hazardous components and recover valuable materials. These procedures can be expensive and call for certain tools and technology. The market's expansion may be hampered by the high startup and running expenses of battery recycling, particularly for small-scale recycling businesses.
Market Competitive Landscape
The lithium-ion battery recycling sector exhibits moderate fragmentation, attributed to the limited number of companies involved. This can be attributed to the intricate technology involved in the industry. The major players in the Global Lithium-Ion Battery Recycling Market include: Accurec Recycling GmbH, American Manganese Inc., Battery Recycling Made Easy, Brunp Recycling, Eco-Bat Technologies Ltd., G&P Batteries, GEM Co., Ltd., Glencore International AG, Li-Cycle Corp., LITHION Recycling Inc., Neometals Ltd., Raw Materials Company Inc., Retriev Technologies Inc., Umicore N.V., Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Battery Chemistry, By Source, By Recycling Process, By End Use
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Accurec Recycling GmbH, American Manganese Inc., Battery Recycling Made Easy, Brunp Recycling, Eco-Bat Technologies Ltd., G&P Batteries, GEM Co., Ltd., Glencore International AG, Li-Cycle Corp., LITHION Recycling Inc., Neometals Ltd., Raw Materials Company Inc., Retriev Technologies Inc., Umicore N.V., Others
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COVID-19 Impact on Global Lithium-Ion Battery Recycling Market
The COVID-19 pandemic-related lockdowns led to a temporary prohibition on import and export as well as manufacturing and processing activities across a number of industries. This reduced demand for lithium batteries from both automotive and non-automotive end users. As a result, in 2020's second, third, and fourth quarters, market growth decreased. But by the first quarter of 2021, the market should be back on track because COVID-19 immunisation has begun in a number of countries throughout the world, which should boost the world economy.
Key Target Audience:
- Automotive Industry
- Battery Manufacturers
- Consumers
- Electronics Manufacturers
- Recycling Companies
- Waste Management Companies
- Others
Our in-depth analysis of the Lithium-Ion Battery Recycling Market includes the following segments:
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By Battery Chemistry:
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Lithium-Iron Phosphate
Lithium-Manganese Oxide
Lithium-Nickel-Cobalt-Aluminum Oxide
Lithium-Nickel-Manganese Cobalt
Lithium-Titanate Oxide
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By Source:
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Electric Vehicles
Electronics
Power Tools
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By Recycling Process:
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Hydrometallurgical Process
Physical/Mechanical Process
Pyrometallurgy Process
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By End Use:
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Automotive
Consumer Electronics
Industrial
Non-Automotive
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Key Topics Covered in the Report:
- Global Lithium-Ion Battery Recycling Market Size (FY’2023-FY’2033)
- Overview of Global Lithium-Ion Battery Recycling Market
- Segmentation of Global Lithium-Ion Battery Recycling Market By Battery Chemistry (Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Nickel-Cobalt-Aluminum Oxide, Lithium-Nickel-Manganese Cobalt, Lithium-Titanate Oxide)
- Segmentation of Global Lithium-Ion Battery Recycling Market By Source (Electric Vehicles, Electronics, Power Tools, Others)
- Segmentation of Global Lithium-Ion Battery Recycling Market By Recycling Process (Hydrometallurgical Process, Physical/Mechanical Process, Pyrometallurgy Process)
- Segmentation of Global Lithium-Ion Battery Recycling Market By End Use (Automotive, Consumer Electronics, Industrial, Non-Automotive)
- Statistical Snap of Global Lithium-Ion Battery Recycling Market
- Expansion Analysis of Global Lithium-Ion Battery Recycling Market
- Problems and Obstacles in Global Lithium-Ion Battery Recycling Market
- Competitive Landscape in the Global Lithium-Ion Battery Recycling Market
- Impact of COVID-19 and Demonetization on Global Lithium-Ion Battery Recycling Market
- Details on Current Investment in Global Lithium-Ion Battery Recycling Market
- Competitive Analysis of Global Lithium-Ion Battery Recycling Market
- Prominent Players in the Global Lithium-Ion Battery Recycling Market
- SWOT Analysis of Global Lithium-Ion Battery Recycling Market
- Global Lithium-Ion Battery Recycling Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Lithium-Ion Battery Recycling Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Lithium-Ion Battery Recycling Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Lithium-Ion Battery Recycling Market
7. Global Lithium-Ion Battery Recycling Market, By Battery Chemistry (USD Million)
7.1. Global Lithium-Ion Battery Recycling Market Value Share and Forecast, By Battery Chemistry, 2023-2033
7.2. Lithium-Iron Phosphate
7.3. Lithium-Manganese Oxide
7.4. Lithium-Nickel-Cobalt-Aluminum Oxide
7.5. Lithium-Nickel-Manganese Cobalt
7.6. Lithium-Titanate Oxide
8. Global Lithium-Ion Battery Recycling Market, By Source (USD Million)
8.1. Global Lithium-Ion Battery Recycling Market Value Share and Forecast, By Source, 2023-2033
8.2. Electric Vehicles
8.3. Electronics
8.4. Power Tools
8.5. Others
9. Global Lithium-Ion Battery Recycling Market, By Recycling Process (USD Million)
9.1. Global Lithium-Ion Battery Recycling Market Value Share and Forecast, By Recycling Process, 2023-2033
9.2. Hydrometallurgical Process
9.3. Physical/Mechanical Process
9.4. Pyrometallurgy Process
10. Global Lithium-Ion Battery Recycling Market, By End Use (USD Million)
10.1. Global Lithium-Ion Battery Recycling Market Value Share and Forecast, By End Use, 2023-2033
10.2. Automotive
10.3. Consumer Electronics
10.4. Industrial
10.5. Non-Automotive
11. Global Lithium-Ion Battery Recycling Market Forecast, 2019-2033 (USD Million)
11.1. Global Lithium-Ion Battery Recycling Market Size and Market Share
12. Global Lithium-Ion Battery Recycling Market, By Battery Chemistry, 2019-2033 (USD Million)
12.1. Global Lithium-Ion Battery Recycling Market Size and Market Share By Battery Chemistry (2019-2026)
12.2. Global Lithium-Ion Battery Recycling Market Size and Market Share By Battery Chemistry (2027-2033)
13. Global Lithium-Ion Battery Recycling Market, By Source, 2019-2033 (USD Million)
13.1. Global Lithium-Ion Battery Recycling Market Size and Market Share By Source (2019-2026)
13.2. Global Lithium-Ion Battery Recycling Market Size and Market Share By Source (2027-2033)
14. Global Lithium-Ion Battery Recycling Market, By Recycling Process, 2019-2033 (USD Million)
14.1. Global Lithium-Ion Battery Recycling Market Size and Market Share By Recycling Process (2019-2026)
14.2. Global Lithium-Ion Battery Recycling Market Size and Market Share By Recycling Process (2027-2033)
15. Global Lithium-Ion Battery Recycling Market, By End Use, 2019-2033 (USD Million)
15.1. Global Lithium-Ion Battery Recycling Market Size and Market Share By End Use (2019-2026)
15.2. Global Lithium-Ion Battery Recycling Market Size and Market Share By End Use (2027-2033)
16. Global Lithium-Ion Battery Recycling Market, By Region, 2019-2033 (USD Million)
16.1. Global Lithium-Ion Battery Recycling Market Size and Market Share By Region (2019-2026)
16.2. Global Lithium-Ion Battery Recycling Market Size and Market Share By Region (2027-2033)
16.3. Asia-Pacific
16.3.1. Australia
16.3.2. China
16.3.3. India
16.3.4. Japan
16.3.5. South Korea
16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France
16.4.2. Germany
16.4.3. Italy
16.4.4. Spain
16.4.5. United Kingdom
16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia
16.5.2. United Arab Emirates
16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada
16.6.2. Mexico
16.6.3. United States
16.7. Latin America
16.7.1. Argentina
16.7.2. Brazil
16.7.3. Rest of Latin America
17. Company Profile
17.1. Accurec Recycling GmbH
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. American Manganese Inc.
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Battery Recycling Made Easy
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. Brunp Recycling
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. Eco-Bat Technologies Ltd.
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. G&P Batteries
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. GEM Co., Ltd.
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. Glencore International AG
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. Li-Cycle Corp.
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. LITHION Recycling Inc.
17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments
17.11. Neometals Ltd.
17.11.1. Company details
17.11.2. Financial outlook
17.11.3. Product summary
17.11.4. Recent developments
17.12. Raw Materials Company Inc.
17.12.1. Company details
17.12.2. Financial outlook
17.12.3. Product summary
17.12.4. Recent developments
17.13. Retriev Technologies Inc.
17.13.1. Company details
17.13.2. Financial outlook
17.13.3. Product summary
17.13.4. Recent developments
17.14. Umicore N.V.
17.14.1. Company details
17.14.2. Financial outlook
17.14.3. Product summary
17.14.4. Recent developments
17.15. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope