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By 2030, the market for recycling lithium-ion batteries will be valued $22.8 billion, with a CAGR of 19.6%.

Published: March 13, 2023

Author: DIGITAL MEDIA EXECUTIVE

According to a new market research report, the “Lithium-ion Battery Recycling Market by End Use (Automotive, Non-automotive), Battery Chemistry, Battery Components, Recycling Process (Hydrometallurgical Process, Pyrometallurgy Process, Physical/ Mechanical Process), and Region – Global Forecast to 2030″, The global lithium-ion battery recycling market is projected to grow from USD 4.6 billion in 2021 to USD 22.8 billion by 2030, at a CAGR of 19.6% during the forecast period 2021-2030. The rising demand for electric vehicles to control the increasing pollution levels has spurred the consumption of lithium-ion batteries. Since these have lower self-discharge rates than other rechargeable cells such as Ni-Cad and NiMH, they offer high energy and power density and are thus used in various applications, from cellular phones, industrial equipment, to electric-drive vehicles.

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139 Market data Tables
47 Figures
199 Pages and in-depth TOC on “Lithium-ion Battery Recycling Market – Global Forecast to 2030″

This report also provides a comprehensive analysis of the companies listed below:

Umicore (Belgium), Glencore International AG (Switzerland), Retriev Technologies Inc. (US), Raw Materials Company Inc. (RMC) (Canada), American Zinc Recycling (US), American Manganese Inc. (Canada), SITRASA (Mexico), Li-Cycle Corp. (Canada), Neometals Ltd (Australia), Metal Conversion Technologies (MCT) (US), TES (Singapore), Fortum (Finland), GEM Co., Ltd (China), Contemporary Amperex Technology Co. Ltd (CATL) (China), Duesenfeld GmbH (Germany), and Accurec-Recycling GmbH (Germany)

Recent Developments in Lithium-ion Battery Recycling Market Industry

In December 2019, Umicore acquired the cobalt refining and cathode precursor activities from Freeport Cobalt Oy in Kokkola, Finland. The acquisition was valued at USD 203 million and helped Umicore reduce the net working capital by creating supply chain synergies in the cobalt refining and cathode precursor activities.
In August 2021, Glencore entered a long-term strategic partnership with Britishvolt, a pioneer in electric vehicle battery technology and production in the UK. This partnership enhances the position of Glencore in the lithium-ion battery recycling market through its product portfolio.

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Lithium-titanate oxide (LTO) battery chemistry is projected to grow at the highest CAGR during the forecast period

Based on chemistry, the lithium-titanate oxide (LTO) battery chemistry is projected to grow at the highest CAGR between 2021 and 2030. Lithium-titanate is an off-white powdered compound containing lithium and titanium. The high growth of lithium-titanate oxide (LTO) battery chemistry segment is due to its advantageous features such as stability, power density, long life cycle, and high performance.

Asia Pacific region is projected to grow at the highest CAGR in the lithium-ion battery recycling market during the forecast period

The lithium-ion battery recycling market in the Asia Pacific region is projected to grow at the highest CAGR from 2021 to 2030. Asia Pacific region comprises of key countries such as Japan, China, India, and South Korea. The rising demand for vehicles and environmental regulations are leading to the growth of the Asia Pacific market. The increasing pollution levels in emerging economies such as China and India are among the factors expected to drive the Asia Pacific market during the forecast period.

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