Global Lithium-Ion Battery Recycling Market, Trends & Growth Opportunity, By Battery Chemistry (Lithium Iron Phosphate, Lithium Cobalt Oxide, Lithium Manganese Oxide, Lithium Nickel Cobalt Aluminium Oxide, Lithium Nickel Manganese Cobalt Oxide), By Source (Automotive, Non-Automotive), By Region and Forecast Till 2030.
Global Lithium-Ion Battery Recycling Market
The Global Lithium-Ion Battery Recycling Market was valued at USD 6.85 Bn in 2022 and is expected to expand to USD 23.99 Bn by 2030 at a CAGR of 21.25% during the forecast period 2023-2030.
Lithium-ion battery recycling is the process of using hydrometallurgical and mechanical technologies to reuse the chemicals and materials inside lithium-ion batteries. The recycling process allows the regaining of valuable materials such as cobalt, nickel, and iron, which can be reused in making new batteries, thus saving the cost of mining materials and helping in environmental preservation.
Market Drivers
The global lithium-ion battery recycling market is being driven by the rising demand for electric vehicles, which is leading to the rising adoption of lithium-ion batteries. It is known that up to 5% of lithium-ion batteries are recycled worldwide. This is quite a low statistic, and it is likely that more lithium-ion batteries will be recycled with time.
There is a growing concern to protect the environment. Disposing of lithium-ion batteries without recycling can lead to high amounts of toxic chemical accumulation in the environment that can pose a potential threat to people. But the materials in a lithium-ion battery can be reused after material treatment. This can preserve precious metals like cobalt, nickel, and iron. These benefits are driving the market.
Market Restraints
Factors concerning the safe storage and transportation of used lithium-ion batteries for recycling can be a significant restraint to market growth. Lithium-ion batteries contain harmful chemicals and metals. Improper transportation and poor storage facilities can lead to severe consequences for human health and life.
Moreover, the high cost of recycling may impede the fast adoption of lithium-ion battery recycling. Developed countries with the financial resources will be quick to adopt, however, low-income countries may not be as quick in adopting battery recycling processes.
Market Segmentation
The global lithium-ion battery recycling market is segmented by battery chemistry, such as lithium iron phosphate, lithium cobalt oxide, lithium manganese oxide, lithium nickel cobalt aluminium oxide, and lithium nickel manganese cobalt oxide. Further, the market is segmented by sources, like automotive and non-automotive.
Regional Analysis
The Asia Pacific market for lithium-ion battery recycling is expected to witness significant growth during the forecast period. The rising demand for vehicles, along with the increasing government regulations for protecting the environment will act as an incentive to adopt lithium-ion battery recycling in the coming years.
Key Players
Toxco, Umicore, Cirba Solutions, Glencore, Ganfeng Lithium Co Ltd, Fortum Corporation, Neometals Ltd, Sumitomo Metal Mining Co Ltd, Lithion Recycling Inc, Duesenfeld.
Market Taxonomy
By Battery Chemistry
• Lithium Iron Phosphate
• Lithium Cobalt Oxide
• Lithium Manganese Oxide
• Lithium Nickel Cobalt Aluminium Oxide
• Lithium Nickel Manganese Cobalt Oxide
By Source
• Automotive
• Non-Automotive
By Region
• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Rest of Europe)
• Asia Pacific (China, India, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa)
Global Lithium-Ion Battery Recycling Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Lithium-Ion Battery Recycling Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Lithium-Ion Battery Recycling Market, By Battery Chemistry
5.1 Y-o-Y Growth Comparison, By Battery Chemistry
5.2 Global Lithium-Ion Battery Recycling Market Share Analysis, By Battery Chemistry
5.3 Global Lithium-Ion Battery Recycling Market Size and Forecast, By Battery Chemistry
5.3.1 Lithium Iron Phosphate
5.3.2 Lithium Cobalt Oxide
5.3.3 Lithium Manganese Oxide
5.3.4 Lithium Nickel Cobalt Aluminium Oxide
5.3.5 Lithium Nickel Manganese Cobalt Oxide
6 Global Lithium-Ion Battery Recycling Market, By Source
6.1 Y-o-Y Growth Comparison, By Source
6.2 Global Lithium-Ion Battery Recycling Market Share Analysis, By Source
6.3 Global Lithium-Ion Battery Recycling Market Size and Forecast, By Source
6.3.1 Automotive
6.3.2 Non-Automotive
7 Global Lithium-Ion Battery Recycling Market, By Region
7.1 Global Lithium-Ion Battery Recycling Market Share Analysis, By Region
7.2 Global Lithium-Ion Battery Recycling Market Size and Forecast, By Region
8 North America Lithium-Ion Battery Recycling Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Lithium-Ion Battery Recycling Market Share Analysis, By Battery Chemistry
8.3 North America Lithium-Ion Battery Recycling Market Size and Forecast, By Source
8.4 North America Lithium-Ion Battery Recycling Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Lithium-Ion Battery Recycling Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Lithium-Ion Battery Recycling Market Share Analysis, By Battery Chemistry
9.3 Europe Lithium-Ion Battery Recycling Market Size and Forecast, By Source
9.4 Europe Lithium-Ion Battery Recycling Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4 Rest of Europe
10 Asia Pacific Lithium-Ion Battery Recycling Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Lithium-Ion Battery Recycling Market Share Analysis, By Battery Chemistry
10.3 Asia Pacific Lithium-Ion Battery Recycling Market Size and Forecast, By Source
10.4 Asia Pacific Lithium-Ion Battery Recycling Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Rest of Asia
11 Latin America Lithium-Ion Battery Recycling Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Lithium-Ion Battery Recycling Market Share Analysis, By Battery Chemistry
11.3 Latin America Lithium-Ion Battery Recycling Market Size and Forecast, By Source
11.4 Latin America Lithium-Ion Battery Recycling Market Size and Forecast, By Country
11.4.1 Brazil
11.4.2 Rest of Latin America
12 Middle East Lithium-Ion Battery Recycling Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Lithium-Ion Battery Recycling Market Share Analysis, By Battery Chemistry
12.3 Middle East Lithium-Ion Battery Recycling Market Size and Forecast, By Source
12.4 Middle East Lithium-Ion Battery Recycling Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.2 UAE
12.4.3 Egypt
15.4.4 Kuwait
12.4.5 South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Toxco
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Umicore
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Cirba Solutions
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Glencore
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Ganfeng Lithium Co Ltd
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Fortum Corporation
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Neometals Ltd
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Sumitomo Metal Mining Co Ltd
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Lithion Recycling Inc
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Duesenfeld
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
