Press release
GLOBAL LITHIUM-ION BATTERY RECYCLING MARKET - INDUSTRY TRENDS AND FORECAST TO 2026 | TESLA, SNAM SPA, UMICORE, TES - AMM INDIA PVT. LTD., RAW MATERIALS COMPANY, RECUPYL, INNOVATIVE BATTERY RECYCLING, GLOBAL TECHNOLOGY SYSTEMS
Global lithium-ion battery recycling market is expected to register a healthy CAGR of 22.0% in the forecast period of 2019-2026.
Lithium-ion battery recycling is referred to be the less toxic batteries which are easy to recycle and reuse. With the growing use of lithium ion batteries in various consumer products the danger of explosion and their disposal has become tough. In order to prevent such disasters, it is quite necessary to recycle the lithium ion batteries. Recycling of lithium ion batteries can be done through various technological procedures such as hydrometallurgical process, pyro-metallurgy process and other mechanical processes. The vast growing applications of lithium ion batteries in the end-use industries such as power generation, automotive, marine, etc. are boosting the market for lithium ion battery recycling globally.
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Segmentation: Global Lithium-Ion Battery Recycling Market
Global lithium-ion battery recycling market is segmented into three notable segments which are chemistry, technology and end-user.
On the basis of chemistry, the market is segmented into Lithium-Cobalt Oxide (LI-CO), Lithium-Iron Phosphate (LFP), Lithium-Nickel Cobalt Aluminium Oxide (NCA), Lithium-Nickel Manganese Cobalt (NMC), Lithium-Manganese Oxide Spinal (LMO) and Lithium-Titanate Oxide (LI-TO).
In June 2019, Lithion Recycling participated in 19th edition of the Advanced Automotive Battery Conference (AABC) at San Diego, California from 24 - 27 June 2019.Through this exhibition the company tried to expand its lithium ion battery recycle service portfolio in the market.
On the basis of technology, the market is segmented into hydrometallurgical process, pyrometallurgy process, mechanical process and others.
In May, Storage Battery Systems, LLC has opened a new Dallas branch which will provide solutions for the specific customer needs. Thus, with this, they will be able to reach out to their customers across the globe.
On the basis of end-user, the market is segmented into automotive, power, industrial, marine and others.
In March, Storage Battery Systems, LLC launched its two new battery technologies at PROMAT 2019 a premier trade shows. It will help the company to meet the rising demands of logistics and material handling as well as to meet the growing demand of their customers.
Competitive Analysis: Global Lithium-Ion Battery Recycling Market
Some of the major players operating in global lithium-ion battery recycling market are Tesla, Snam SPA, Umicore, Tes - Amm India Pvt. Ltd., Raw Materials Company, Recupyl, innovative battery recycling, Global Technology Systems, Inc., ACCUREC Recycling GmbH, AKKUSER OY & DIGITOIMISTO ROI, American Manganese Inc., Battery Recycling Made Easy, Ganfeng Lithium Co., Ltd., Interstate Batteries, LI-CYCLE CORP., Lithion Recycling, Neometals Ltd, OnTo Technology, LLC., Retriev Technologies, SITRASA, Storage Battery Systems, LLC among others.
Product Launch
oIn October 2018, Global Technology Systems, Inc. launched a managed service offering for mobile devices which will help the companies to lower their cost of productivity which were causing by mid-day shift battery failures. It will help the company to increase their customer base while handling most of battery-related services.
oIn March 2019, Storage Battery Systems, LLC launched its two new battery technologies at PROMAT 2019 a premier trade shows. It will help the company to meet the rising demands of logistics and material handling as well as to meet the growing demand of their customers.
oIn 2019, AKKUSER OY & DIGITOIMISTO ROI, a Finland based company is developing new technologies for recycling low-grade cobalt Li-ion batteries. The new technology launched will be a modified version of already existing dry-technology method used for the recycling of batteries. Through this launch, the company will expand its product portfolio in the market.
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Research Methodology: Global Lithium-Ion Battery Recycling Market
Primary Respondents: Key Opinion Leaders (KOL's): Manufacturers, Distributors, Industrial Professionals. Industry Participants: CEO's, V.P.'s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers.
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