Press release
How Lithium-Ion Battery Recycling Market 2021 is Booming Worldwide with Top Leading Players – SNAM, Umicore, Sumitomo Metal Mining Co., Lithion Recycling Inc, BATREC INDUSTRIE AG
The global Lithium Ion Battery Recycling market is projected to reach USD 6.55 billion by 2028 at a CAGR of 18.5% during the forecast period. The market is set to gain momentum from the rising introduction of strict government norms for treating vital materials in battery chemistry. This information is given by Fortune Business Insights™ in a new report, titled, “Lithium Ion Battery Recycling Market, 2021-2028.” The report further mentions that the market size was USD 1.70 billion in 2020.COVID-19 Pandemic to Impact Growth Backed by Stoppage of Cross-border Trade
The COVID-19 pandemic has delayed various operations in a wide range of industries. Government bodies are introducing new rules, such as lockdown and social distancing policies, to curb transmission. The halt of cross-border trade activities would negatively impact the supply chain network. We are offering in-depth insights into this industry to help our clients better understand the current scenario.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/lithium-ion-battery-recycling-market-100244
A list of all the renowned providers operating in the Lithium Ion Battery Recycling Market:
SNAM (France)
Umicore (Belgium)
Sumitomo Metal Mining Co., Ltd. (Japan)
Lithion Recycling Inc. (Canada)
BATREC INDUSTRIE AG (Switzerland)
American Zinc Recycling Corp (U.S.)
Fortum (Finland)
DOWA ECO-SYSTEM Co., Ltd. (Japan)
Li-Cycle Corp. (Canada)
Neometals Ltd (Australia)
ACCUREC Recycling GmbH (Germany)
AkkuSer (Finland)
San Lan Technologies Co., Ltd (China)
Duesenfeld (Germany)
Glencore (Switzerland)
Redux GmbH (Germany)
uRecycle Group (Finland)
Retriev Technologies Inc. (Canada)
How Did We Conduct Our Research?
The Lithium Ion Battery Recycling Market research report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down methods to calculate the Lithium Ion Battery Recycling industry size.
𝐓𝐨 𝐠𝐞𝐭 𝐭𝐨 𝐤𝐧𝐨𝐰 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐬𝐡𝐨𝐫𝐭-𝐭𝐞𝐫𝐦 𝐚𝐧𝐝 𝐥𝐨𝐧𝐠-𝐭𝐞𝐫𝐦 𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐦𝐚𝐫𝐤𝐞𝐭, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐯𝐢𝐬𝐢𝐭:
https://www.fortunebusinessinsights.com/industry-reports/lithium-ion-battery-recycling-market-100244
Driving Factor:
Increasing Demand for Clean Energy Sources to Boost Growth
People nowadays are rapidly shifting towards clean power sources as they offer efficient input to various applications. Companies worldwide have surged the installation of multiple batteries for numerous electric vehicles and energy storage. This is expected to bolster the replacement of long-standing batteries with low out efficiency generating wastes. Total, for instance, announced its plan to construct a battery-based energy storage project in France in March 2020. Such initiatives are likely to accelerate the Lithium Ion Battery Recycling market growth in the upcoming years. However, the construction of new recycling facilities involves high investments, which, in turn, may hamper the demand for Lithium Ion Battery Recycling services.
Segment-
Electric Vehicles Segment to Grow Steadily Fueled by Surging Number of Automobiles
Based on the source, the electric vehicles segment earned a significant in terms of the Lithium Ion Battery Recycling market share in 2020. This growth is attributable to the increasing number of various automobiles, such as bikes, cars, and buses. The electronics segment is predicted to hold a substantial share due to various factors such as improved profitability in recycling, disassembling of large devices, and long-standing battery installation in products.
𝐀𝐬𝐤 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 https://www.fortunebusinessinsights.com/enquiry/customization/lithium-ion-battery-recycling-market-100244
Regional Insights-
Large Battery Installed Base to Augment Growth in Asia Pacific
Geographically, Asia Pacific generated USD 1.53 billion in terms of revenue in 2020. The presence of favorable battery energy storage policies would majorly contribute to this growth. Coupled with this, a large battery installed base and a rising number of Lithium Ion Battery Recycling firms would aid regional growth.
On the other hand, in North America, the U.S. Department of Energy (DOE) announced its plans to invest USD 20.5 million in its battery recycling infrastructure and unveil a modern RandD facility. Lastly, in Europe, the market is likely to grow significantly throughout the forthcoming years backed by the surging number of clean energy generation targets that are being implemented by the European Union for reducing pollution.
Competitive Landscape-
Key Players Focus on Partnerships and New Plant Development to Intensify Competition
The global market houses an enormous number of large and small and medium enterprises (SMEs). Some of them are currently striving to compete with their rivals by constructing new Lithium Ion Battery Recycling plants. A few others are participating in partnerships and collaborations to jointly optimize their services. Below are the two latest industry developments:
June 2021 Germany-based chemicals company, BASF declared to initiate construction of a new battery recycling prototype plant at the company’s Cathode Active Materials (CAM) facility site in Schwarzheide, Germany. The company targets to utilize the advanced solution and extract cobalt, manganese, lithium, and nickel from lithium-ion batteries reaching the exhaustion period.
July 2021 Canada-based Li-Cycle confirmed to initiate a partnership agreement with Helbiz to establish sustainable recycling solutions for LIBs reaching their exhaustion period and are currently equipped across e-bikes and e-scooters.
𝐐𝐮𝐢𝐜𝐤 𝐁𝐮𝐲 - 𝐋𝐢𝐭𝐡𝐢𝐮𝐦 𝐈𝐨𝐧 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐑𝐞𝐜𝐲𝐜𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.fortunebusinessinsights.com/checkout-page/100244
Contact:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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