Press release
Lithium-Ion Battery Recycling Market Size, Share, Regional Demand and Geographical Forecast
The global Lithium-Ion Battery Recycling Market was valued at US$ 403.8 million in 2019 and is anticipated to reach US$ 1,392.8 million by 2027; it is expected to grow at a CAGR of 19.6% during 2020-2027.The COVID-19 outbreak hindered the growth of the global market in 2020, and thus, there is a decline in the y-o-y growth. However, the growth is expected to normalize from 2021 onward and the market is projected to grow at a steady pace.
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Analysis of the Top Market Players:
1. American Manganese Inc.
2. Ecobat Technologies Ltd.
3. Fortum
4. Gem Co., Ltd
5. International Metals Reclamation Company, LLC
6. Li-Cycle Corp.
7. Neometals Ltd
8. Retriev Technologies Inc.
9. Recupyl
10. TES (Singapore) PTE Ltd.
In this report, the market has been segmented on the basis of:
Technology (Lithium-Nickel Manganese Cobalt, Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Titanate Oxide, and Lithium-Nickel Cobalt Aluminum Oxide)
Application (Automotive, Mining, Consumer Electronics, Industrial, and Power)
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Presently, many large pyro metallurgy facilities are engaged in the recycling of lithium-ion batteries. These facilities usually operate at ~1,500 ?C to recover various metals-such as cobalt, nickel, lithium, aluminum, and copper-or any other organic compounds. These facilities are usually capital intensive owing to the requirement for treating the emission of toxic fluorine compounds, which are released while smelting. However, hydrometallurgy-processing techniques, commercially practiced in China, offer a less energy-consuming alternative at lower costs. Moreover, several researchers are studying various cost-effective methods, and some companies are conducting these recycling tests at a pilot-plant scale. Thus, in the near future, cost-effective methods of recycling lithium-ion batteries would come into action.
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