The global Lithium-ion Battery Recycling market Size is expected to register a CAGR of ~ 21.43% from 2023 to 2030 and hold a value of over USD 24.31 billion by 2030.
Lithium-ion battery recycling refers to the process of recovering materials from used or discarded lithium-ion batteries, to reduce the environmental impact of these batteries and to conserve valuable resources.
The recovered materials can be used to produce new batteries or other products, helping to close the loop of material consumption.
The COVID-19 pandemic has had a significant impact on the lithium-ion battery recycling market, with the slowdown in global economic activity and decreased demand for goods and services leading to reduced investment in recycling and other sustainability initiatives. The pandemic has also caused disruptions in the supply chain, making it more difficult to obtain the components and materials needed to recycle lithium-ion batteries.
Key Players
- 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
- Recupyl Sas
Regional Analysis
The North American lithium-ion battery market is primarily dominated by the United States and Canada and is expected to be the largest market for lithium-ion battery recycling in the coming years. The region has a well-established infrastructure, advanced technology, and a strong presence of leading players in the battery recycling industry, which are expected to drive the growth of the market.
Additionally, supportive government policies and regulations aimed at promoting sustainable practices, such as recycling, are expected to further boost the growth of the lithium-ion battery recycling market in North America.
Market Segmentation
The Global Lithium-ion Battery Recycling Market Share has been segmented into end-use and battery chemistry.
Based on the end user, the market has been segmented into Automotive, and Non-automotive [Industrial, Power, and Marine].
Based on the battery chemistry, the market has been segmented into Lithium-nickel Manganese Cobalt (Li-NMC), Lithium-iron Phosphate (LFP), Lithium-manganese Oxide (LMO), Lithium-titanate Oxide (LTO), and Lithium-nickel Cobalt Aluminum Oxide (NCA).
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