Reports

Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.

Global Lithium-ion Batteries Recycling Market Share, Size, Analysis, Forecast: By Battery Component: Active Material, Non-active Material; By Source: Electric Vehicles, Electronics, Power Tools, Others; By Battery Chemistry: Lithium-nickel Manganese Cobalt; By Recycling Process; By End Use; Regional Analysis; Competitive Landscape; 2023-2028

Global Lithium-ion Batteries Recycling Market Outlook

The Lithium-ion Batteries Recycling Market size attained a value of USD 2.31 billion in 2022. The market is likely to grow at a CAGR of 19.10% during the forecast period of 2023-2028 to attain a value of USD 6.6 billion by 2028 owing to the rising concern for ecology and environment and various other favourable factors.

 

The Lithium-ion Batteries Recycling Market growth can be attributed to the rapid development in the manufacturing of lithium-ion batteries (LIBs). More production ultimately leads to more recycling.

 

The world is becoming more and more aware of consistent degradation in the environment, the rising temperature of the earth and increasing levels of greenhouse gases. Internal combustion engines running on conventional fossil fuel energy are responsible for 18% of the total emission of greenhouse gases. No wonder countries are shifting from traditional energy sources to green and clean ones.

 

LIBs, besides providing green and clean energy, have a much lower running cost than internal combustion engines. Also, with the advancement of technology and mass-scale production, their price is also decreasing.

 

Recycling of spent-energy LIBs involves extracting raw materials from such batteries and putting them back in use to produce new LIBs. It reduces pressure on natural sources of such raw materials, makes the industry much more sustainable, eases the problem of finding new landfills, mitigates the danger of contamination of groundwater and eliminates the risk of accidents due to explosion during transportation or disposal of spent-energy LIBs.

 

Key Trends in the Lithium-ion Batteries Recycling Market

Recycling is the process that enables the recovery of valuable raw materials, like lithium, cobalt, manganese, and nickel, among others, from the spent-energy LIBs for their reuse in the fresh production of such batteries. For recycling, spent-energy batteries are sent to recycling plants, shredded and crushed into a black mass. Valuable raw materials are separated through a judicious mix of pyrometallurgical, hydrometallurgical, and mechanical processes. Separated metals are then sent to the LIB plants for use in the manufacturing process. With the evolution in LIB manufacturing technology, recycling technology is also evolving with time and may soon see the use of automation and robotics.

 

The growth of the lithium-ion battery recycling industry can be attributed to the following factors:

  • Maintaining their supply in the plant through recycling is a cheaper and more sustainable option. In LIBs, half of the production cost is due to valuable raw materials, like lithium, cobalt, and manganese, among others.
  • In most cases, valuable raw materials are procured through imports from producing countries. Such substances may be susceptible to supply chain disruptions due to various natural and man-made causes, such as conflicts in the mining zones and unfriendly diplomatic relations between importing and exporting countries, among other factors. Recycling offers a reliable solution to such vagaries and would help the Lithium-ion Batteries Recycling Market to have stable growth.
  • The use of cobalt as raw material gives rise to ethical issues. 70% of the cobalt used in LIBs is obtained from the Democratic Republic of Congo (DRC), where there have been severe allegations regarding the deployment of child labour and human rights violations in cobalt mining. Recycling reduces the need to import cobalt and saves LIB manufacturers from the moral dilemma.
  • For the viability of the recycling business, it is essential to ensure that cost of recycling remains much less than the cost of new procurement. Recycling technology is improving with time, with the possibility of the introduction of automation and robotics. Consistency in technology improvement and upgradation is likely to sustain and further enhance cost advantage in the long run.
  • Most governments worldwide are promoting recycling as a part of their commitment towards green and clean energy and reducing the load of pollutants upon the environment. Such promotions are in terms of financial support and through legislative means. The Indian government has also notified Battery Waste Management Rules in 2022.
  • In the United States, assistance is not only through financial grants at the levels of federal, state and local governments but also through technical assistance, low-interest loans, tax breaks, equipment rebate programmes, regulatory streamlining assistance and free energy audits. Given alarmingly rapid environmental degradation, government support will likely intensify further in the coming years and is expected to aid the market's growth.

 

Significant Challenges for the Lithium-ion Batteries Recycling Market in the Coming Years

  • There would be an ever-increasing demand for extra funds and new landfill sites to dispose of spent-energy LIBs.
  • Disposal of such batteries may also lead to severe environmental and public health issues because of chemicals in the batteries getting into underground water sources.
  • Even after the end of their useful lives, LIBs still retain a substantial amount of energy in them. If not handled carefully, there is always a risk of explosion during transportation to landfill sites or disposal.
  • The availability of raw materials used in LIBs, including nickel, cobalt, and lithium, among others, may be scarce in the long run. The sustainability of the entire Lithium-ion Batteries Recycling Market may be in peril.
  • The technology of recycling is directly linked to the manufacturing technology of LIBs. Recycling technology must follow and keep pace with manufacturing technology. If the compositions of chemicals used in LIBs change, the technology for separating and retrieving such chemicals will also have to be revisited. Likewise, if the packaging technology of such battery changes, the technology used for shredding spent-energy LIBs will also undergo various changes.
  • All such changes may entail introducing new equipment, expertise, and capital expenditure from time to time. Companies must keep up with technological advancements to survive in the long run. Survival of smaller players with limited availability of resources for modernisation and upgradation will become a considerable challenge in the long run.

 

Lithium-ion Batteries Recycling Market Analysis

Based on battery components, the market can be categorised into active and non-active materials. By source, the market can be divided into electric vehicles, electronics, and power tools, among others. Based on battery chemistry, the segments can be divided into lithium-nickel manganese cobalt (Li-NMC), lithium-iron phosphate (LFP), lithium-manganese oxide (LMO), lithium-titanate Oxide (LTO), and lithium-nickel cobalt aluminium oxide (NCA).

 

The recycling processes include the hydrometallurgical process, the pyrometallurgy process, and the physical/mechanical process, among others. It finds extensive end-uses in automotive and non-automotive. The automotive segment can be further segmented into industrial, power and marine. The major regions in the Lithium-ion Batteries Recycling Market include North America, Europe, Latin America, Asia Pacific, Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model and gives a SWOT analysis. The report provides a detailed analysis of significant lithium-ion battery recycling companies, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Umicore
  • Retrieve Technologies
  • American Manganese Inc.
  • Li-Cycle Holdings Corp.
  • JCV Holdings Group
  • Neometals Ltd
  • Fortum Corporation
  • Others

 

Electronics Segment to Hold the Largest Market Share

Based on source, the Lithium-ion Batteries Recycling Market can be categorised into electric vehicles, electronics, and power tools, among others.

 

The electronics segment is expected to hold the largest market share during the forecast period. This growth can be attributed to the rising utilisation of lithium-ion batteries due to advantages, such as high energy density, low-self discharge, minimum maintenance, and cost-effectiveness, among other factors that are likely to drive the market growth.

 

The market growth is also positively affected by the rapid development of innovative portable devices and rising penetration technologies in emerging markets. In addition, market players constantly innovating and introducing improved products to meet consumer demands will propel market expansion.

 

Various Battery Chemistry for Lithium-Ion Batteries

Based on battery chemistry, the Lithium-ion Batteries Recycling Market is divided into lithium-nickel manganese cobalt (Li-NMC), lithium-iron phosphate (LFP), lithium-manganese oxide (LMO), lithium-titanate Oxide (LTO), lithium-nickel cobalt aluminium oxide (NCA).

 

Among the different battery chemistries, lithium-manganese oxide batteries are expected to hold a significant market share owing to their rising utilisation in various devices, such as fire and smoke alarms, security alarms, gas and water meters, and security alarms. In addition, due to a significant amount of recoverable cobalt material, the market is likely to advance further and multiply its market value.

 

Competitive Landscape of the Lithium-ion Batteries Recycling Market

Umicore is a multinational chemical manufacturing and material technology company that primarily focuses on developing clean technologies, such as emission control catalysts, materials for rechargeable batteries and recycling activities. Their speciality lies in developing products in various categories, including automotive, chemicals, electronics, energy, manufacturing, optics and displays, precious metals, recycling and refining.

 

RecycLiCo Battery Materials Inc. is a battery recycling and upcycling company founded in 1987. The company is headquartered in Surrey, Canada. It has introduced a closed-loop, hydrometallurgical process that involves minimal steps and enables 100% extraction of lithium, cobalt, nickel, and manganese from lithium-ion battery waste. The company primarily operates in recycling activities with a selective focus on EV Batteries, urban mining, and electric vehicles, among others. 

 

Li-Cycle Holdings Corp. is a Canadian company that provides service solutions that are safe, sustainable, and economically viable for the recycling of lithium-ion batteries. The company was founded in 2016 and has been working with chemicals and materials to provide various products, including battery materials, mixed copper/aluminium, lithium carbonate, and manganese carbonate.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Battery Component
  • Source
  • Battery Chemistry
  • Recycling Process
  • End Use
  • Region
Breakup by Battery Component
  • Active Material
  • Non-active Material
Breakup by Source
  • Electric Vehicles
  • Electronics
  • Power Tools
  • Others
Breakup by Battery Chemistry
  • Lithium-nickel Manganese Cobalt (Li-NMC)
  • Lithium-iron Phosphate (LFP)
  • Lithium-manganese Oxide (LMO)
  • Lithium-titanate Oxide (LTO)
  • Lithium-nickel Cobalt Aluminum Oxide (NCA)
Breakup by Recycling Process
  • Hydrometallurgical Process
  • Pyrometallurgy Process
  • Physical/Mechanical Process
  • Others
Breakup by End Use
  • Automotive
  • Non-automotive
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Umicore
  • Retrieve Technologies
  • RecycLiCo Battery Materials Inc.
  • Li-Cycle Holdings Corp.
  • JCV Holdings Group
  • Neometals Ltd
  • Fortum Corporation
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Lithium-ion Batteries Recycling Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Lithium-ion Batteries Recycling Historical Market (2018-2022) 
    8.3    Global Lithium-ion Batteries Recycling Market Forecast (2023-2028)
    8.4    Global Lithium-ion Batteries Recycling Market by Battery Component
        8.4.1    Active Material
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Non-active Material
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Lithium-ion Batteries Recycling Market by Source
        8.5.1    Electric Vehicles
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Electronics
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Power Tools
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Others
    8.6    Global Lithium-ion Batteries Recycling Market by Battery Chemistry
        8.6.1    Lithium-nickel Manganese Cobalt (Li-NMC)
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Lithium-iron Phosphate (LFP)
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Lithium-manganese Oxide (LMO)
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Lithium-titanate Oxide (LTO)
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022)
            8.6.4.3    Forecast Trend (2023-2028)
        8.6.5    Lithium-nickel Cobalt Aluminum Oxide (NCA)
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2022)
            8.6.5.3    Forecast Trend (2023-2028)
    8.7    Global Lithium-ion Batteries Recycling Market by Recycling Process
        8.7.1    Hydrometallurgical Process
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Pyrometallurgy Process
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Physical/Mechanical Process
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Others
    8.8    Global Lithium-ion Batteries Recycling Market by End Use
        8.8.1    Automotive
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022)
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Non-automotive
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022)
            8.8.2.3    Forecast Trend (2023-2028)
            8.8.2.4    Breakup by Type
                8.8.2.4.1    Industrial
                8.8.2.4.2    Power
                8.8.2.4.3    Marine
                8.8.2.4.4    Others
    8.9    Global Lithium-ion Batteries Recycling Market by Region
        8.9.1    North America
            8.9.1.1    Market Share
            8.9.1.2    Historical Trend (2018-2022) 
            8.9.1.3    Forecast Trend (2023-2028)
        8.9.2    Europe
            8.9.2.1    Market Share
            8.9.2.2    Historical Trend (2018-2022) 
            8.9.2.3    Forecast Trend (2023-2028)
        8.9.3    Asia Pacific
            8.9.3.1    Market Share
            8.9.3.2    Historical Trend (2018-2022) 
            8.9.3.3    Forecast Trend (2023-2028)
        8.9.4    Latin America
            8.9.4.1    Market Share
            8.9.4.2    Historical Trend (2018-2022) 
            8.9.4.3    Forecast Trend (2023-2028)
        8.9.5    Middle East and Africa
            8.9.5.1    Market Share
            8.9.5.2    Historical Trend (2018-2022) 
            8.9.5.3    Forecast Trend (2023-2028)
9    North America Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Umicore
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Retrieve Technologies
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    RecycLiCo Battery Materials Inc.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Li-Cycle Holdings Corp.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    JCV Holdings Group
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Neometals Ltd
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Fortum Corporation
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Others
17    Key Trends and Developments in the Market

 

List of Figures and Tables

1.    Global Lithium-ion Batteries Recycling Market: Key Industry Highlights, 2018 and 2028
2.    Global Lithium-ion Batteries Recycling Historical Market: Breakup by Battery Component (USD Billion), 2018-2022
3.    Global Lithium-ion Batteries Recycling Market Forecast: Breakup by Battery Component (USD Billion), 2023-2028
4.    Global Lithium-ion Batteries Recycling Historical Market: Breakup by Source (USD Billion), 2018-2022
5.    Global Lithium-ion Batteries Recycling Market Forecast: Breakup by Source (USD Billion), 2023-2028
6.    Global Lithium-ion Batteries Recycling Historical Market: Breakup by Battery Chemistry (USD Billion), 2018-2022
7.    Global Lithium-ion Batteries Recycling Market Forecast: Breakup by Battery Chemistry (USD Billion), 2023-2028
8.    Global Lithium-ion Batteries Recycling Historical Market: Breakup by Recycling Process (USD Billion), 2018-2022
9.    Global Lithium-ion Batteries Recycling Market Forecast: Breakup by Recycling Process (USD Billion), 2023-2028
10.    Global Lithium-ion Batteries Recycling Historical Market: Breakup by End Use (USD Billion), 2018-2022
11.    Global Lithium-ion Batteries Recycling Market Forecast: Breakup by End Use (USD Billion), 2023-2028
12.    Global Lithium-ion Batteries Recycling Historical Market: Breakup by Region (USD Billion), 2018-2022
13.    Global Lithium-ion Batteries Recycling Market Forecast: Breakup by Region (USD Billion), 2023-2028
14.    North America Lithium-ion Batteries Recycling Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    North America Lithium-ion Batteries Recycling Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Europe Lithium-ion Batteries Recycling Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Europe Lithium-ion Batteries Recycling Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Asia Pacific Lithium-ion Batteries Recycling Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Asia Pacific Lithium-ion Batteries Recycling Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Latin America Lithium-ion Batteries Recycling Historical Market: Breakup by Country (USD Billion), 2018-2022
21.    Latin America Lithium-ion Batteries Recycling Market Forecast: Breakup by Country (USD Billion), 2023-2028
22.    Middle East and Africa Lithium-ion Batteries Recycling Historical Market: Breakup by Country (USD Billion), 2018-2022
23.    Middle East and Africa Lithium-ion Batteries Recycling Market Forecast: Breakup by Country (USD Billion), 2023-2028
24.    Global Lithium-ion Batteries Recycling Market Structure

Key Questions Answered in the Report

The market for LIB recycling registered an approximate value of USD 2.31 billion in 2022.

The LIB recycling market is expected to grow at a CAGR of 19.10% during the forecast period of 2023-2028.

The market is expected to attain a market value of USD 6.6 billion by 2028.

The increasing recycling activities owing to their positive impact on the environment, cost-effectiveness and sustainability, supported by the rising number of schemes by the government to promote recycling through financial incentives and regulatory framework, are the major factors driving the market growth.

Coping up with rapid technological advances and increasingly intensifying competition in the sector will pose significant challenges to market development in the coming years.

The lithium-ion battery recycling market can be broadly segmented into North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa.

Based on battery components, the market includes active and non-active materials.

The different sources available in the market include electric vehicles, electronics, and power tools, among others.

The market, based on battery chemistry, can be segregated into lithium-nickel manganese cobalt (Li-NMC), lithium-iron phosphate (LFP), lithium-manganese oxide (LMO), lithium-titanate Oxide (LTO), and lithium-nickel cobalt aluminium oxide (NCA).

The different recycling processes for recycling LIBs include the hydrometallurgical process, the pyrometallurgy process, and the physical/mechanical process, among others.

Lithium-ion battery recycling is substantially utilised in the automotive and non-automotive sectors.

The major players in the lithium-ion battery recycling market include Umicore, Retrieve Technologies, RecycLiCo Battery Materials Inc., Li-Cycle Holdings Corp., JCV Holdings Group, Neometals Ltd, and Fortum Corporation, among others.

Purchase Full Report

Mini Report

$ 2199     $1799
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$ 3199     $2999
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

$ 4199     $3999
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$ 5199     $4999
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER