The Lithium Ion battery recycling market report presents in-depth analysis on the rapidly booming industry. The report identifies the major Lithium Ion battery recycling market dynamics. It presents annual outlook of Li-Cobalt, Li NMC, LiFePO4, LMO, Li-Titanate, Li-NCA and Others through 2030. Further, sources of battery including Automotive, Consumer Electronics, Industrial Applications, Energy Storage and others along with leading companies operating in the industry are analysed. Further, market size outlook across 16 countries is included in the study.

 

Lithium Ion Battery Recycling Market Statistics

• The global Lithium-Ion Battery Recycling Market Size stood at US$3.6 Billion in 2020 and is poised to register 19.6% growth over the forecast period from 2021 to 2028
• The market witnessed the negative impact of the COVID-19 pandemic during 2020 with an estimated 6% decline in business revenue. As the market was largely concentrated in China, the market size recovered quickly from the pandemic.   
• Lithium Cobalt Battery Recycling is the largest type of Lithium-Ion Battery Recycling with a 41.2% market share. Key types of Lithium-Ion Battery Recycling analyzed in the report include Li-NMC, LFP, LMO, Li-Titanate, Li-NCA, and Others.  
• Among sources of scrap, Consumer Electronics remains the dominant supplier for Lithium-Ion Battery Recycling in value terms, with a market share of 40.8% during 2020. Other sources for Lithium-Ion Battery Recycling include Automotive, Industrial Applications, Energy Storage, and others.
• Driven by early mover advantage, wide availability of spent batteries, Asia Pacific dominates the global Lithium-Ion Battery Recycling market with over 68.1% market share in value terms.
• Key market driving forces include increasing cobalt, lithium, and nickel prices, growth in electric vehicle sales, specifically in Europe and North America, availability of diverse types of Li-ion batteries, ability to market Lithium-Ion batteries for direct reuse, environmental benefits associated with recycling, cost savings in EVs can be achieved through recycling, government regulations governing disposable of batteries support their recycling and reuse options and others are identified among main market dynamics
• On the other hand, challenges associated with transportation costs pose challenges for recycling companies, low penetration in developed countries, price fluctuations of mined materials can affect the business of recycling companies, and the negative impact of COVID-19 restrict the market growth
• The market is moderately fragmented in nature with intense competitive conditions among leading market players.

 

Global Lithium Ion Battery Market Outlook, USD Billion, 2020- 2028

The global Lithium-Ion Battery Recycling market size is estimated to reach $14.4 Billion in 2028 from $3.6 Billion in 2020, at a CAGR of 19.55% between 2021 and 2028.

 

Lithium Ion Battery Recycling Industry Panorama

Lithium-Ion batteries offer significant benefits of high energy efficiency, long cycle life, high energy, and power density. They are smaller in size and lighter than other conventional batteries such as lead-acid batteries. The global drive towards electric vehicles is encouraging wide adoption of Lithium-Ion batteries for their wide range, charging rate, safety, reliability, cost advantages, relatively less pollution, and other potential advantages.

The exponential growth outlook of Lithium-Ion batteries across countries over the decade to 2030 presents strong scope for recycling and reuse operations. Several small and medium scale companies are emerging to gain from the optimistic outlook for the recycling operations. Successful commercialization of Lithium-Ion batteries for automotive and non-automotive applications offers significant prospects for companies investing in recycling operations.

Improved understanding of the importance of recycling, efficient collection process, and achieving technological efficiency in recycling support market growth. An increasing number of companies are assessing opportunities to expand in the industry. However, challenges such as inadequate recycling efficiencies, negative environmental impacts, safety hazards, and logistical challenges. In addition, the use of complex types of Lithium-Ion batteries such as LFP, LMO, NCA, and NMC, and others used in EVs pose challenges for recycling companies.

Among geographies, Asia Pacific remains the dominant user of Lithium-Ion Battery Recycling, with over 68.1% market share. The dominant share of the region is largely driven by huge consumption volumes in the Chinese industry.

 

Lithium Ion Battery Recycling Market Trends-Availability of Diverse Types of Li-ion Batteries

Different types of Lithium-Ion batteries are gaining market driven by widening applications. Consumer electronics industries often opt for Lithium cobalt oxide batteries due to their high power density. On the other hand, electric vehicles, power tools, and others rely on lithium manganese oxide batteries, lithium iron phosphate batteries for their high thermal stability and high power output. On the other hand, renewable storage systems rely on Lithium nickel titanate batteries.  Single-use, non-rechargeable batteries, and Rechargeable lithium-polymer cells are marketed worldwide. Increasing applications are strengthening the use of different Lithium-Ion battery types, which supports the recycling market.

 

Lithium Ion Battery Recycling Market Trends-Ability to market Lithium-Ion batteries for direct reuse

Recyclers are emphasizing on direct reuse of Lithium-Ion batteries. Reuse applications including energy storage, Forklifts, and factory tugs, EV charging and back-up power, back-up power, Grid-scale energy storage, commercial and industrial energy storage, EV charging, Large-scale power storage, Stationary energy storage units in a micro-grid, Residential solar storage, among others are observed across countries. This can provide significant revenues for recycling companies.

 

Lithium Ion Battery Recycling Market Report Segmentation

• Types
  • Li-Cobalt
  • Li NMC
  • LiFePO4
  • LMO
  • Li-Titanate
  • Li-NCA and Others
• Sources
  • Automotive
  • Consumer Electronics
  • Industrial Applications
  • Energy Storage and others
• Regions
  • North America
  • Europe
  • Asia Pacific
  • Rest of World
• Companies
  • Umicore N.V.
  • Glencore PLC
  • Li-Cycle Holdings Corp.
  • Ganfeng Lithium Co., Ltd.
  • Accurec-Recycling GmbH

 

1. TABLE OF CONTENTS   2

List of Tables       7

List of Figures      9

 

2. EXECUTIVE SUMMARY                12

Summary              12

Lithium-Ion Battery Recycling Industry Outlook, 2020 – 2028               13

Abbreviations      14

 

3. INTRODUCTION TO LITHIUM-ION BATTERY RECYCLING MARKET                15

Market Segments - Types, Applications, and Regions             15

Research Methodology    16

 

4.  MACRO FACTORS SHAPING THE MARKET OUTLOOK     17

Economic Factors               17

Demographic Factors        18

 

5. OVERVIEW OF THE LITHIUM-ION BATTERY RECYCLING MARKET 19

Lithium Ion Battery Recycling Industry Panorama, 2022        19

Lithium Ion Battery Recycling Companies Profiled in the Report          21

Lithium Ion Battery Recycling Market Dynamics       21

Lithium Ion Battery Recycling Market Challenges    26

Regional Analysis               27

 

 

6. TRENDS IN LITHIUM-ION BATTERY RECYCLING MARKET TYPES    28

Largest Types      28

Li-Cobalt Market Size Outlook        29

Li NMC Market Size Outlook           29

LiFePO4 Market Size Outlook          31

LMO Market Size Outlook                32

Li-Titanate Market Size Outlook     33

Li-NCA and Others Market Size Outlook      34

 

7. TRENDS IN SOURCES OF SPENT BATTERIES         35

Automotive Industry Sourced Lithium Ion Battery Recycling Market Size Outlook          36

Consumer Electronics Industry Sourced Lithium Ion Battery Recycling Market Size Outlook       38

Industrial Applications Industry Sourced Lithium Ion Battery Recycling Market Size Outlook      39

Energy Storage and other Industry Sourced Lithium Ion Battery Recycling Market Size Outlook 40

 

8. GLOBAL LITHIUM ION BATTERT RECYCLING MARKET OUTLOOK ACROSS COVID-19 RECOVERY SCENARIOS               41

Low Growth Scenario        42

Reference Case Scenario 42

High Growth Case Scenario             43

 

9. NORTH AMERICA LITHIUM-ION BATTERY RECYCLING MARKET ANALYSIS AND OUTLOOK                44

North America Lithium Ion Battery Recycling Market Size Outlook     44

North America Lithium Ion Battery Recycling Market Trends and Opportunities            45

Li-Cobalt Battery Recycling dominate the North American Market     45

Automotive is the fastest-growing source of Lithium-Ion batteries for Recycling in North America           46

The US dominates the North American Lithium-Ion Battery Recycling Market 47

 

Market Outlook by Country             48

United States Lithium Ion Battery Recycling Market Size       48

Canada Lithium Ion Battery Recycling Market Size  50

Mexico Lithium Ion Battery Recycling Market Size   51

 

10. EUROPE LITHIUM-ION BATTERY RECYCLING MARKET ANALYSIS AND OUTLOOK                52

Europe Lithium Ion Battery Recycling Market Size Outlook    52

Europe Lithium Ion Battery Recycling Market Trends and Opportunities           53

Li-Cobalt Battery Recycling dominates the European Market               53

Automotive is the fastest-growing source of Lithium-Ion batteries for Recycling in Europe         54

Germany dominates the European Lithium-Ion Battery Recycling Market        55

 

Market Outlook by Country             56

Germany Lithium Ion Battery Recycling Market Size               56

United Kingdom Lithium Ion Battery Recycling Market Size   58

France Lithium Ion Battery Recycling Market Size    59

Spain Lithium Ion Battery Recycling Market Size   60

Italy Lithium Ion Battery Recycling Market Size        60

Other Europe Lithium Ion Battery Recycling Market Size   61

 

11. ASIA PACIFIC LITHIUM-ION BATTERY RECYCLING MARKET ANALYSIS AND OUTLOOK      62

Asia Pacific Lithium Ion Battery Recycling Market Size Outlook            62

Asia Pacific Lithium Ion Battery Recycling Market Trends and Opportunities   62

Li-Cobalt Battery Recycling dominate the Asia Pacific Market              62

Automotive is the fastest-growing source of Lithium-Ion batteries for recycling in the Asia Pacific           63

China dominates the Asia Pacific Lithium-Ion Battery Recycling Market            64

 

Market Outlook by Country             65

China Lithium Ion Battery Recycling Market Size      65

Japan Lithium Ion Battery Recycling Market Size      67

South Korea Lithium Ion Battery Recycling Market Size          68

Other Asia Pacific Lithium Ion Battery Recycling Market Size                69

 

12. LATIN AMERICA LITHIUM-ION BATTERY RECYCLING MARKET ANALYSIS AND OUTLOOK 70

Latin America Lithium Ion Battery Recycling Market Size Outlook       70

Latin America Lithium Ion Battery Recycling Market Trends and Opportunities              71

Li-Cobalt Battery Recycling dominate the Latin American Market       71

Automotive is the fastest-growing source of Lithium-Ion batteries for Recycling in Latin America            72

Brazil dominates the Latin America Lithium-Ion Battery Recycling Market       73

 

Market Outlook by Country             74

Brazil Lithium Ion Battery Recycling Market Size      74

Argentina Lithium Ion Battery Recycling Market Size              75

Rest of Latin America Lithium Ion Battery Recycling Market Size        76

 

13. MIDDLE EAST AND AFRICA LITHIUM-ION BATTERY RECYCLING MARKET ANALYSIS AND OUTLOOK            77

Middle East and Africa Lithium Ion Battery Recycling Market Size Outlook       77

Middle East and Africa Lithium Ion Battery Recycling Market Trends and Opportunities              79

Li-Cobalt Battery Recycling dominates the Middle East and Africa Market       79

Automotive is the fastest-growing source of Lithium-Ion batteries for Recycling in the Middle East and Africa 80

Middle East dominates the MEA Lithium-Ion Battery Recycling Market            81

 

Market Outlook by Country             82

Middle East Lithium Ion Battery Recycling Market Size          82

Africa Lithium Ion Battery Recycling Market Size      83

 

14. COMPETITIVE LANDSCAPE      84

Umicore N.V        84

Glencore PLC       98

Li-Cycle Holdings Corp.     108

Ganfeng Lithium Co., Ltd.                115

Accurec Recycling GmbH 125

 

15. APPENDIX     140

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