Global Lithium-Ion Battery Recycling Market was valued at an estimated USD 2.17 billion in 2018; this value is projected to rise with a CAGR of 20.95% in the forecast period of 2019-2026. This projected rise in market value can be factored to rise in the amount of disposed batteries globally requiring the need for proper recycling.
Competitive Analysis: Global Lithium-Ion Battery Recycling Market
Global lithium-ion battery recycling market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of lithium-ion battery recycling market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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Lithium-ion battery recycling can be described as the process of properly disposing the used batteries and recovering the remaining materials from the batteries. The disposed batteries contain amounts of reactive material along with a combination of metal resources that are still present in the batteries. The process requires careful handling of the used batteries, along with deactivating the energy from the batteries, and then recovering the left-over resources.
Key Market Competitors: Global Lithium-Ion Battery Recycling Market
Few of the major competitors currently working in the lithium-ion battery recycling market are LI-CYCLE CORP., Raw Materials Company, Neometals Ltd, Retriev Technologies, RECUPYL SAS, Umicore, Glencore, American Zinc Recycling LLC, Battery Recycling Made Easy, American Manganese Inc. and TES (Singapore) Pte Ltd.
Market Segmentation: Global Lithium-Ion Battery Recycling Market
• By Technology (Hydrometallurgical Process, Pyrometallurgy Process, Physical/Mechanical Process)
• By Chemistry (Li-NMC, LFP, LMO, LTO, NCA, LCO, Others)
• By Industry (Automotive, Marine, Industrial, Power)
• By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
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• Growing concern regarding the depletion of metals and recycling of batteries helping in recovering these resources; this factor is expected to act as a driver for the market growth
• Increase in adoption and uses of lithium-ion batteries resulting in rise of recycling of these batteries; this factor is expected to act as a driver for the market growth
• Concern regarding the safety and disposal of the materials in the whole recycling process of the used batteries is expected to act as a restraint to the market growth
Key Insights in the report:
• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved
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