Global Lithium-ion Battery Recycling Market to Reach USD 35.1 Billion by 2031, Driven by Rising Demand for Electric Vehicles and Stringent Government Regulations

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Jul 28, 2023, 21:30 ET

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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