Lithium-ion Battery Recycling Market Key Players, Size, Share, Demands, Battery Chemistry, Battery Components, Recycling Process and Forecasts to 2031

The lithium-ion battery recycling market is projected to grow from USD 6.5 billion in 2022 to USD 35.1 billion by 2031, at a CAGR of 20.6% from 2022 to 2031.The lithium-ion battery recycling market is on the way for intense growth across different sources such as automotive and non-automotive (industrial, consumer electronics, power, and marine).

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"By battery chemistry, the lithium-iron phosphate (LFP) segment is expected to be the second largest segment of lithium-ion battery recycling market during 2022 to 2031."

Based on battery chemistry, lithium-iron phosphate (LFP) is one of the major battery types used in high-power devices and equipment. The phosphate cathode material employed in LFP has a long-life cycle, high current rating, high thermal stability, and enhanced safety due to higher tolerance. Increasing use of LFP in high-power applications such as EV cars and power tools, among others, is expected to lead to the growth of the LFP segment in the lithium-ion battery recycling market.

"By source, consumer electronics segment accounted for the largest share in non-automotive segment of lithium-ion battery recycling market in 2022"

The consumer electronics segment held the largest share in the non-automotive segment. Currently, lithium-ion batteries are the preferred choice for consumer electronics as a portable power source because of their features, such as high energy density and less recharge time. This has propelled the usage of lithium-ion batteries in the consumer electronics sector, leading to the generation of spent lithium-ion batteries for recycling.

"The lithium-ion battery recycling market in Europe is projected to witness the highest CAGR during the forecast period."

Europe is projected to register the highest CAGR in the lithium-ion recycling market from 2022 to 2031. Europe is one of the key markets for lithium-ion battery recycling owing to its increasing focus on reducing emissions and promotion of electric vehicles. The growth in the demand for electric vehicles is expected to increase the need for lithium-ion battery recycling in the region.

Profile break-up of primary participants for the report:

By Company Type: Tier 1 - 35%, Tier 2 - 35%, and Tier 3 - 30%
By Designation: C-level Executives - 45%, Directors - 35%, and Others - 20%
By Region: North America - 52%, Europe -33%, Asia Pacific - 10%, and RoW-5%

The lithium-ion battery recycling report is dominated by players, such as American Battery Technology Company (US), ACCUREC Recycling GmbH (Germany), Cirba Solutions (US), Ecobat (US), Fortum (Finland), GEM Co., Ltd. (China), Glencore (Switzerland), Li-Cycle Corp. (Canada), Neometals Ltd. (Australia), Redwood Materials Inc. (US), RecycLiCo Battery Materials Inc. (Canada), Stena Recycling (Sweden), TES (Singapore), The International Metals Reclamation Company (US), and Umicore (Belgium), and others.

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Research Coverage:

The report defines, segments, and projects the size of the lithium-ion battery recycling market based on source, battery chemistry, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as partnership, agreement, and expansion undertaken by them in the market.

Reasons to Buy the Report:

The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the lithium-ion battery recycling market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.

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