Dublin, April 09, 2024 (GLOBE NEWSWIRE) -- The "Lithium-ion Battery Recycling Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
World revenue for Lithium-ion Battery Recycling Market is forecast to surpass US$3 billion in 2024, with strong revenue growth through to 2034.
Environmental concerns related to the disposal and recycling of lithium-ion batteries have prompted governments and regulatory bodies to implement stricter regulations and policies to promote battery recycling and reduce environmental pollution. In regions with stringent environmental regulations, such as the European Union and North America, manufacturers and recyclers are required to adhere to recycling targets and standards for lithium-ion batteries. Additionally, initiatives such as the European Battery Directive and the U.S. Battery Recycling Act incentivize battery recycling and impose responsibilities on stakeholders across the battery value chain to ensure proper disposal and recycling of end-of-life batteries.
An important market restraining factor in the lithium-ion battery recycling industry revolves around safety concerns associated with the storage and transportation of spent batteries. As the demand for lithium-ion batteries continues to escalate, driven by the surge in electric vehicles and portable electronic devices, the volume of spent batteries requiring recycling also increases. The safety challenges arise primarily due to the chemical composition of lithium-ion batteries and the potential risks they pose if mishandled.
Lithium-ion batteries contain volatile materials, and when not properly handled during storage and transportation, they can pose serious safety risks such as fire or leakage of hazardous substances. The electrolytes within these batteries are flammable, and if the structural integrity of the battery is compromised, it can lead to thermal runaway, a chain reaction that can result in overheating and combustion.
Key Market Dynamics
Market Driving Factors
- Rising Demand for Electric Vehicles to Unlock New Potential for the Lithium-ion Battery Recycling Industry
- Rising Demand for Recycled Products and Materials
- Geographical Expansion to Emerging Markets with Increasing Industrialization and Consumer Demand Contributes to the Market's Overall Growth
Market Restraining Factors
- Safety Issue Related to Storage and Transportation of Spent Batteries
- High Cost of Recycling and Dearth of Technologies
- Environmental and Safety Concerns Hinder the Market Growth
Market Opportunities
- Subsidies to Encourage Battery Recycling
- Rising Adoption of Lithium-ion Battery Due to Declining Prices
- New Government Rules and Incentives has Enhanced the Production in the Lithium-ion Battery Recycling Industry
Segments Covered in the Report
Market Segment by Source
- Consumer Electronics
- Electric Vehicles
- Industrial
Market Segment by Recycling Process
- Mechanical
- Pyrometallurgical
- Hydrometallurgical
- Direct Recovery
Market Segment by Industry Vertical
- Automotive
- Electronics
- Industrial
- Power
- Other Industry Vertical
Market Segment by Type
- Lithium-nickel Manganese Cobalt (Li-NMC)
- Lithium-iron Phosphate (LFP)
- Lithium-manganese Oxide (LMO)
- Lithium-titanate Oxide (LTO)
- Lithium-nickel Cobalt Aluminium Oxide (NCA)
- Other Types
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
The report also includes profiles and for some of the leading companies in the Lithium-ion Battery Recycling Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled:
- Accurec Recycling
- American Battery Technology Company
- Battery Recycling Made Easy
- Contemporary Amperex Technology Co.
- Duesenfeld Gmbh
- Ecobat
- Envirostream Australia Pty Ltd
- Fortum Oyj
- Glencore
- Li-Cycle Corp.
- RecycLiCo Battery Materials
- Redwood Materials
- SMC Recycling
- Stena Recycling
- The International Metals Reclamation Company
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2034 for Lithium-ion Battery Recycling Market, 2024 to 2034 Market, with forecasts for source, recycling process, industry vertical and type, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets - See forecasts for the Lithium-ion Battery Recycling Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Lithium-ion Battery Recycling Market, 2024 to 2034.
For more information about this report visit https://www.researchandmarkets.com/r/cfh7gp
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