Lithium-Ion Battery Recycling Market Segmentation by Battery Chemistry, Recycling Process, and End-Use with a Focus on Electric Vehicles, Consumer Electronics, and Automotive Sectors

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Lithium-ion Battery Recycling Market Size, Share & Trends Analysis Report By Battery Chemistry (Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Nickel-Cobalt-Aluminum Oxide, Lithium-Nickel-Manganese Cobalt And Lithium-Titanate Oxide), Source (Electric Vehicles, Electronics, Power Tools), Recycling Process (Hydrometallurgical Process, Physical/Mechanical Process And Pyrometallurgy Process) And End-Use (Automotive, Non-Automotive)- Market Outlook And Industry Analysis 2034"

Global Lithium-ion Battery Recycling Market Size is valued at USD 16.0 Billion in 2024 and is predicted to reach USD 77.6 Billion by the year 2034 at a 17.2% CAGR during the forecast period for 2025-2034.

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Lithium-ion batteries, commonly used in consumer electronics and vehicles, operate by transferring lithium ions from the negative electrode to the positive electrode during charging, with ions moving back through the electrolyte. These rechargeable batteries consist of four main components: an anode, cathode, separator, and electrolyte. The anode stores and releases lithium ions from the cathode, enabling current to flow through an external circuit. The global lithium-ion battery recycling market is expected to expand due to several factors, including governmental regulations, environmental safety concerns, and increasing public awareness. Additionally, the availability of protective layers to reduce the risks of fire and short-circuiting, along with advancements in battery design, will likely stimulate market growth. As battery technologies continue to evolve, manufacturers are developing more advanced batteries, creating significant opportunities for battery recycling companies to invest in and refine breakthrough recycling technologies.

List of Prominent Players in the Lithium-ion Battery Recycling Market:
• Accurec Recycling Gmbh
• Akkuser Oy
• American Battery Technology Company
• American Manganese Inc.
• American Zinc Recycling
• Batrec Industrie Ag
• Battery Recycling Made Easy (Brme)
• Duesenfeld Gmbh
• Ecobat
• Envirostream Australia Pty Ltd
• Euro Dieuze Industrie (E.D.I.)
• Fortum Corporation
• Ganfeng Lithium Co., Ltd
• Gem Co., Ltd
• Glencore International Ag
• Li-Cycle Corp
• Lithion Recycling Inc.
• Metal Conversion Technologies (MCT)
• Neometals Ltd
• Onto Technology Llc
• Raw Materials Company (Rmc)
• Redwood Materials, Inc.
• Retriev Technologies Inc
• Sitrasa
• Smc Recycling
• Tata Chemicals Limited
• Tes
• Umicore
• Urecycle Group Oy

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Market Dynamics:
Drivers:
The global lithium-ion battery recycling market is expected to experience accelerated growth, driven by the increasing adoption of clean energy sources to support various applications. Organizations are increasingly opting for large-scale energy storage systems and electric vehicles, which require multiple batteries. As deployment grows, there will be a need to replace older, less efficient batteries, creating significant recycling opportunities. For instance, in March 2021, the Delhi government launched a 150 kWh/528 kWh lithium-ion battery storage facility to enhance the country's renewable energy infrastructure and improve grid resilience.

Challenges:
Despite their technological advantages, lithium-ion batteries present several challenges, particularly related to safety. Their tendency to overheat due to high voltages can lead to thermal runaway and combustion. To mitigate these risks, safety mechanisms are required to control internal pressure and voltage, which can add weight and reduce overall efficiency. Additionally, lithium-ion batteries tend to degrade over time, resulting in capacity loss and eventual failure. Their higher cost-approximately 40% more than nickel-cadmium batteries-remains a barrier to widespread adoption.

Regional Trends:
The Asia-Pacific region is expected to capture a significant share of the lithium-ion battery recycling market, with strong growth projected in the coming years. The market is driven by the presence of numerous recycling companies, battery manufacturers, a large installed base of batteries, and favorable policies for battery energy storage. Meanwhile, North America holds a considerable market share, particularly in the United States, one of the largest global markets for energy storage solutions. This region's market is anticipated to grow further due to the rising adoption of electric vehicles, supported by government incentives and other initiatives.

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Recent Developments:
• In February 2022, Glencore and Britishvolt agreed to a strategic agreement to create a world-class battery recycling ecosystem in the UK.
• In July 2021, an announcement regarding plans to increase production and recycling capacities was made by Lohum Cleantech, a maker of lithium-ion batteries and a provider of recycling solutions. Over the next two years, the company intends to raise recycling capacity from 1,000 tonnes per annum (TPA) to 10,000 TPA and increase LIB output from 300 MWh to 1 GWh.

Segmentation of Lithium-ion Battery Recycling Market-
By Battery Chemistry
• Lithium-Iron Phosphate
• Lithium-Manganese Oxide
• Lithium-Nickel-Cobalt-Aluminum Oxide
• Lithium-Nickel-Manganese Cobalt
• Lithium-Titanate Oxide
By Source
• Electric Vehicles
• Electronics
• Power Tools
• Others
By Recycling Process
• Hydrometallurgical Process
• Physical/Mechanical Process
• Pyrometallurgy Process
By EndUse
• Automotive
• Non-Automotive
o Industrial
o Consumer Electronics
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.