Lithium Ion Battery Recycling Market Size, Share & Report 2028


 Lithium-Ion Battery Recycling Market

The Lithium-Ion Battery Recycling Market is predicted to grow at a robust CAGR during the forecast period (2021-2028).

The factors driving the growth of Lithium-Ion Battery Recycling Market includes growing application of lithium-ion batteries in end-use industries such as automotive, Power and consumer & electronics and subsidies provided by Governments around the world for battery recycling. In addition, the increasing sales of Electric Vehicles, growing environment concerns about carbon emissions and rising demand for recycled products, have augmented the Lithium-Ion Battery Recycling Market size. As per the report published by Hindustan Times, total 4.6 million units of Electric vehicles were sold worldwide in 2021, due to increasing installation of charging points for electric vehicles, which is expected to enhance the demand for Lithium-Ion Batteries in the approaching years. In addition, the depletion of Earth’s metals, fall in the prices of lithium-ion batteries and increasing demand for clean energy sources, are some of the additional factors boosting the market growth.

However, the growth of Lithium-Ion Battery Recycling Market is hindered due to availability of limited technologies for the extraction of lithium.

The prominent players operating in the market are Raw Materials Company, Snam SPA, Sumitomo Metal Mining Co., Ltd., Umicore N.V., Glencore, American Zinc Recycling, Lithion Recycling, BATREC INDUSTRIE AG, Fortum and Retriev Technologies among others.

Battery Chemistry – Segment Analysis

As per the Lithium-Ion Battery Recycling Market Forecast, the Lithium-nickel Manganese Cobalt (Li-NMC) segment is predicted to capture a significant CAGR over the forecast period. The growing application of Lithium-nickel Manganese Cobalt (Li-NMC) in automotive sector for e-bikes along with its ability to provide increased energy density at low cost, are some of the factors responsible for the growth of the segment.

End-Use – Segment Analysis

Based on End-Use, the Automotive segment is predicted to expand at steady CAGR during the forecast period due to decline in the prices of lithium-ion batteries and increasing sales of electric vehicles across the globe.

Regional: Segment Analysis

Based on region, the Asia-Pacific region expected to capture the highest market share over the forecast period. Favorable Government policies for the manufacturing of electric vehicles, large battery installed bases, large number of battery storage capacities, high population density and rising disposable incomes, are some of the crucial factors, accelerating the market growth in Asia-Pacific.

Market Segmentation

Global Lithium-ion Battery Recycling Market 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)

Global Lithium-ion Battery Recycling Market by End-Use

  • Automotive
  • Power
  • Industrial
  • Marine

Global Lithium-ion Battery Recycling Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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