Dublin, Oct. 27, 2021 (GLOBE NEWSWIRE) -- The "Lithium-ion Battery Recycling Market by End Use (Automotive, Non-automotive), Battery Chemistry, Battery Components, Recycling Process (Hydrometallurgical Process, Pyrometallurgy Process, Physical/ Mechanical Process), and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global lithium-ion battery recycling market is projected to grow from USD 4.6 billion in 2021 to USD 22.8 billion by 2030, at a CAGR of 19.6%
The lithium-ion battery recycling market is on course for intense growth across different end-use industries such as automotive and non-automotive (industrial, power, and marine).
Lithium-ion battery recycling refers to the reuse and reprocessing of spent lithium-ion batteries to reduce their disposal as municipal solid waste or material waste. Lithium-ion battery recycling is important not only for the recovery of valuable materials and metals but also for efficient waste management.
The marine segment is expected to be the second-largest non-automotive lithium-ion battery recycling market in 2021.
The marine segment is projected to be the second-largest owing to increasing awareness about the utilization of sustainable and clean sources of energy. As per the application requirements, leading shipbuilding companies are adopting lithium-ion battery technology to enable enhanced power performance for long-distance navigation. This has propelled the usage of lithium-ion batteries in the marine sector, leading to the generation of spent lithium-ion batteries for recycling.
The lithium-titanate oxide (LTO) battery chemistry is projected to grow at the highest CAGR between 2021 and 2030.
By battery chemistry, lithium-titanate oxide (LTO) battery chemistry is projected to grow at the highest CAGR during the forecast period. Increased use of LTO in electric powertrains by manufacturers such as Mitsubishi Motors Corporation (Japan) and Honda Motor Co., Ltd. (Japan) is expected to lead to the growth of the LTO segment in the lithium-ion battery recycling market.
North America is expected to dominate the lithium-ion battery recycling market during 2021-2030.
North America dominated the lithium-ion battery market in 2020 and is projected to lead during the forecast period, where US is one of the major contributors. The rise in growth can be attributed majorly to the stringent regulations implemented by the Environmental Protection Agency (EPA) regarding air emission standards in the region. The scarcity of metals for automotive and industrial battery production in North America is also expected to further drive the market during the forecast period.
Competitive Landscape
Currently, major companies that have the technology and capacity to process lithium-ion batteries include Umicore (Belgium), Glencore International AG (Switzerland), International Metals Reclamation Company, LLC /INMETCO (US), Retriev Technologies (US), and Raw Materials Company (Canada).
Premium Insights
- The Lithium-Ion Battery Recycling Market is Driven by the High Output of Spent Batteries from Electric Vehicles
- Automotive Lithium-Titanate Oxide (Lto) Segment to Grow at the Highest CAGR from 2021 to 2030
- North America to Lead the Lithium-Ion Battery Recycling Market During the Forecast Period
- Industrial Segment Estimated to Account for the Largest Share
Market Dynamics
Drivers
- Increase in Demand for Electric Vehicles
- Stringent Local and State Government Regulations and Epa Guidelines
- Rising Demand for Recycled Products and Materials
- Depletion of Earth Metals
Restraints
- Safety Issues Related to the Storage and Transportation of Spent Batteries
Opportunities
- Subsidies to Encourage Battery Recycling
- Increasing Production Expected to Lead to Decline in the Prices of Lithium-Ion Batteries, Rising Adoption in New Applications, and Recycling After End-Of-Life
- Geographically Concentrated Sources of Lithium and Cobalt
Challenges
- High Cost of Recycling and Dearth of Technologies for the Extraction of Lithium from Spent Lithium-Based Batteries
Lithium-Ion Battery Recycling Patent Analysis
- Document Type
- Patents by Document Type - Last Ten Years
- Patent Publication Trends
- Jurisdiction Analysis
- Top Companies/Applicants
- List of Patents by Univ. Central South
- List of Patents by Inst. Process Eng. Cas
- List of Patents by Byd Co. Ltd.
- Top Ten Patent Owners (Us) in the Last Ten Years
Competitive Landscape
Key Players' Strategies
Market Share Analysis
- Umicore
- Glencore International Ag
- Retriev Technologies
- Raw Materials Company (Rmc)
- American Zinc Recycling
- Fortum
Company Profiles
- Umicore
- Glencore International Ag
- Retriev Technologies
- Raw Materials Company (Rmc)
- American Zinc Recycling
- Fortum
- American Manganese Inc.
- Sitrasa
- Li-Cycle Corp.
- Neometals Ltd
- Metal Conversion Technologies (Mct)
- Tes
- Gem Co., Ltd
- Contemporary Amperex Technology Co., Limited
- Duesenfeld GmbH
- Accurec-Recycling GmbH
Other Companies
- Tata Chemicals Limited
- Onto Technology LLC
- Lithion Recycling Inc.
- Ecobat
- Battery Recycling Made Easy (Brme)
- Euro Dieuze Industrie (E.D.I.)
- Batrec Industrie Ag
- Urecycle Group Oy
- Smc Recycling
- Redwood Materials, Inc.
- Envirostream Australia Pty Ltd
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