Li-ion Battery Recycling Market

Global Li-ion Battery Recycling Market is valued at 4.5 USD Billion in 2021 and expected to reach USD 30.72 Billion by 2028 with a CAGR of 31.5% over the forecast period.

Global Li-ion Battery Recycling Market: Global Size, Trends, Competitive, And Historical& Forecast Analysis, 2022-2028: Growing demand for electric vehicles, subsidies to encourage battery recycling, introduction of new features in li-ion batteries are some of the major factors driving the growth of the global Li-ion Battery Recycling Market.

Scope of Global Li-ion Battery Recycling Market

Lithium-ion battery recycling involves  the collection of lithium-ion battery cells from a variety of sources, including vehicles, heavy machinery, consumer goods, and digital equipment, as well as the extraction of metal or other components through recycling techniques. The global market estimate includes  proceeds from the sale of such reclaimed materials or components, regardless of whether they are employed in additional battery recycling or other applications that demand a secondary use. According to reports, the bulk of metal gathered is merely utilised to create batteries. Lithium-ion batteries contain heavy metals and toxic compounds and typically have a lifetime of five to 10 years. Furthermore, the disposal of Li-ion batteries has prompted several worries about harming the environment, such as soil and water contamination. The transportation system is primarily reliant on oil as a fuel, which has environmentalists and economics concerned. Electric Vehicles (EVs) use electricity as a fuel to propel and control vehicle components and parts. Nevertheless, considerable benefits related with vehicle performance as well as decreased maintenance are additional crucial drivers pushing widespread acceptance of electric vehicles among customers around the globe. The widespread usage of Electronic Design Validation is helping to accelerate the adoption of lithium-ion batteries, which are needed for continuous supply.

The COVID-19 epidemic was mostly hampered by lockdowns in China, the United States, India, and Germany. As a result of a restriction on all forms of transportation without sufficient oversight, the automobile sector has borne the brunt of the continuing epidemic. Furthermore, because the battery business is primarily concentrated in China, it has suffered a significant setback. Reduced raw material import-export created a dramatic shift in supply and demand. China is one of the main makers of batteries, CATL, and BYD goods in the Asia Pacific area, but the coronavirus epidemic has created manufacturing delays for a wide range of end customers. Since the outbreak of the pandemic, original equipment manufacturers (OEMs) have been the most vulnerable to market disruptions owing to battery and raw material supply concerns, as the bulk of raw materials are imported from China. Furthermore, with other manufacturing sources, businesses can only fulfil short-term demand from various end customers in emerging nations.

The global Li-ion Battery Recycling market based on end use is segmented into automotive and non-automotive including industrial, power, marine, and others. Based on battery component, global li-ion battery recycling market is segmented into active material and non-active material. Based on the battery chemistry, the global li-ion battery recycling market is segmented into lithium-nickel manganese cobalt, lithium-iron phosphate, lithium-manganese oxide, lithium-titanate oxide, and lithium-nickel cobalt aluminium oxide. Based on the recycling process, the global li-ion battery recycling market is segmented into hydrometallurgical process, pyrometallurgy process, and physical/mechanical process.

The regions covered in the global Li-ion Battery Recyclingmarket report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Li-ion Battery Recyclingis sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Global Li-ion Battery Recycling Market Segmentation

By End Use:

• Automotive
• Non-Automotive
• Industrial
• Power
• Marine
• Others

By Battery Component

• Active Material
• Non-Active Material

By Battery Chemistry

• Lithium-Nickel Manganese Cobalt
• Lithium-Iron Phosphate
• Lithium-Manganese Oxide
• Lithium-Titanate Oxide
• Lithium-Nickel Cobalt Aluminium Oxide

By Recycling Process

• Hydrometallurgical Process
• Pyrometallurgy Process
• Physical/Mechanical Process

Key Players of Global Li-ion Battery Recycling Market

Some major key players for the global Li-ion Battery Recycling market covered in this report are

• Umicore
• Glencore International AG
• Retriev Technologies Inc
• Raw Materials Company Inc. (RMC)
• International Metals Reclamation Company
• American Manganese Inc
• Sitrasa
• Li-Cycle Corp
• Neometals Ltd
• RecupylSas
• Tes-Amm Singapore Pte 
• others.

News

Attero to Establish Li-ion Battery Recycling Plant in Telangana

On November 2022, Attero Recycling, an electronic waste recycling and Li-ion battery recycling firm, announced its plans  to spend INR 600 crore in Telangana to build a state-of-the-art integrated Lithium-ion battery recycling facility, increasing Attero's Li-Ion battery recycling capacity to 19,500 tonnes. This new facility will expand its present ability to recycle more Li-Ion batteries in an ecologically acceptable way while also increasing the recovery of battery components such as cobalt, lithium, nickel, graphite, manganese, and copper.

Glencore Collaborates with Lohum to Boost Circular Ecosystem for Li-ion Batteries

On September 2022, Lohum has formed a strategic alliance to enhance circularity in the Li-ion battery supply chain, supplying materials such as cathodes, sulphates, carbonates, and oxides of various metals derived from wasted batteries and other sources. This worldwide collaboration enabled both firms to expand their recycling capabilities while also advancing the circular economy by delivering raw materials back into the battery supply chain.

GM Invested in Li-ion Recycling to AssistAdvanced EV Battery Recycling Technology

On September 2022, GM is investing in Li-ion recycling to promote a sustainable circular battery ecosystem, with a focus on studying and developing a feasible EV battery recycling solution to decrease emissions and the use of essential minerals. This investment aided GM in quickly growing battery cell and electric vehicle manufacturing in North America to meet their aim of more than 1 million units of yearly capacity and eliminating tailpipe emissions from all new light-duty cars.

Growing Demand for Electric Vehicles, Government Initiatives and Subsidies to Encourage Battery Recycling, Introduction of New Features in Li-ion Batteries are Some of the Major Factors Driving the Market Growth

Electric vehicles (EVs) have grown in popularity in recent years as governmental and private sector support for clean transportation has expanded. This has boosted awareness, enhanced charging infrastructure, and simplified the deployment of EVs in big logistical fleets. Governments throughout the world are pushing the EV sector through subsidies and legislation, as customers want low-emission commuting over fossil-fuel-powered vehicles that imperil the earth. According to the International Energy Agency, sales nearly doubled to 6.6 million in 2021, bringing the total number of electric cars on the road to 16.5 million, and the electric vehicle sales percentage increased by 4% points. However, after usage, such batteries are discarded, resulting in electronic trash containing harmful compounds that can cause severe environmental consequences such as poisoning water and negatively hurting animals. Consumers are recycling li-ion batteries because the components recovered may be used to build new batteries, cutting manufacturing costs, and those materials account for more than half of a battery's cost. Recycling, in addition to possible economic advantages, might minimise the amount of waste going into landfills, and reducing reliance on mining for battery materials could help prevent the depletion of these raw resources.

Furthermore, there are rising worries regarding raw material shortages, such as cobalt. Recycling can recover the embedded value of battery metals, producing additional cash and allowing governments to boost initiatives for li-ion battery recycling. For example, the Department of Energy (DOE) will begin implementing a USD 335 million battery recycling programme in August 2022. The DOE has published a Request for Information (RFI) in order to assist steer the initiative, which intends to nurture and support battery recycling capabilities in the United States. Furthermore, the Indian government has issued the Battery Waste Treatment Rules, 2022 to ensure the environmentally appropriate management of waste batteries in the country. Producers, including battery importers, will be liable for waste battery collection, recycling, or refurbishing under the new laws.

The introduction of novel characteristics in the recycling process of lithium-ion batteries, including as easy cell placement and the inclusion of coating materials to limit the likelihood of flame and relatively brief, among others, are likely to open up new growth opportunities in the global market. For example, ACCUREC Recycling and UVR-FIA developed a recycling method specifically designed for portable Li-ion batteries that combines mechanical pretreatment with hydro- and pyrometallurgical process stages. As a result, not merely was cobalt recovery of importance, but also the recovery of all other battery components, particularly lithium.

However, the high expense of recycling methods, as well as safety concerns about storage and transportation of spent batteries linked with Li-ion Battery Recycling, may stymie industry expansion. Despite this, rising technical improvement and increased recycling of end-of-life batteries may generate new potential for market expansion.

Europe is Expected to Capture a Major Share in the Global Li-ion Battery Recycling Market

Geographically, the European market for recycling lithium-ion batteries is predicted to increase considerably in the future years, owing to the increasing number of clean energy generating objectives being set by the European Union to reduce pollution. The European Union's recycling efficiency standards are intended to increase the rate of battery recycling. According to the recommendations, approximately 75.0%, 65.0%, and 50% of the weight of nickel-cadmium, lead-acid, and other chemistries batteries must be recovered as recycled material. Furthermore, rising demand for UPS systems in commercial infrastructure, as well as rising need for electric cars, are expected to boost demand throughout the projection period.

In North America, on the other hand, the US Department of Energy (DOE) announced intentions to invest USD 20.5 million in battery recycling infrastructure and open a contemporary R&D centre. Because of the increase in foreign investment in the region, Central and Latin America are likely to have significant market expansion. Large-scale passenger and commercial vehicle manufacturing in Latin America is predicted to increase lithium battery use throughout the projection period.

Asia Pacific is a rising market for the recycling of li-ion batteries as the availability of favourable battery energy storage legislation contributes significantly to this expansion. Countries such as China, India, and Japan are likely to see rapid development due to increased demand from end-use sectors such as automotive. In addition, a large installed base of batteries and a growing number of lithium-ion battery recycling companies would help regional growth.

 

By Regional & Country Level:

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 4.5 Billion
Base year considered	2021
Forecast Period CAGR %:	31.5%
Market Size Expected in 2028:	USD 30.72 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Umicore, Glencore International AG, Retriev Technologies Inc., Raw Materials Company Inc. (RMC), International Metals Reclamation Company, LLC (INMETCO), American Manganese Inc., Sitrasa, Li-Cycle Corp., Neometals Ltd, RecupylSas, Tes-Amm Singapore Pte Ltd, and others.
Segments Covered	By End Use, By Battery Component, By Battery Chemistry, By Recycling Process.
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, Africa, Rest of the Middle East and Africa