Recycling of Automotive Lithium-ion Battery Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

Recycling of Automotive Lithium-ion Battery - Market Size

The global market for Recycling of Automotive Lithium-ion Battery was estimated to be worth US$ 218 million in 2023 and is forecast to a readjusted size of US$ 737.5 million by 2030 with a CAGR of 18.6% during the forecast period 2024-2030.

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Lithium-ion batteries and lithium iron phosphate (LiFePO4) batteries often contain among other useful metals high-grade copper and aluminium in addition to - depending on the active material - transition metals cobalt and nickel as well as rare earths. To prevent a future shortage of cobalt, nickel, and lithium and to enable a sustainable life cycle of these technologies, recycling processes for lithium batteries are needed. These processes have to regain not only cobalt, nickel, copper, and aluminium from spent battery cells, but also a significant share of lithium. In order to achieve this goal, several unit operations are combined into complex process chains, especially considering the task to recover high rates of valuable materials with regard to involved safety issues.

Rising demand for electric vehicles: The increasing demand for electric vehicles (EVs) is a key driver for the recycling of automotive lithium-ion batteries. EVs require lithium-ion batteries to power their electric motors. As the sales of EVs grow, the demand for new batteries increases, leading to a parallel demand for recycling and reusing old batteries.

Government regulations and policies: Governments worldwide are promoting the use of EVs and supporting recycling initiatives to reduce environmental pollution and promote sustainable practices. Policies and regulations regarding battery recycling are becoming stricter, which is leading to an increase in recycling activities.

Developing battery swapping technologies: The development of battery swapping technologies is another driver for the recycling of automotive lithium-ion batteries. Battery swapping involves removing the depleted battery from the EV and replacing it with a charged one. This technology allows for the efficient reuse of batteries, reducing the need for new batteries and increasing the demand for recycling.

By Type
• LiCoO2 Battery
• NMC Battery
• LiFePO4 Battery

By Application
• Passenger Vehicle
• Commercial Vehicle

Key Companies
Umicore, GEM, Brunp Recycling, SungEel HiTech, Taisen Recycling, Batrec, Retriev Technologies, Tes-Amm(Recupyl), Duesenfeld, 4R Energy Corp, OnTo Technology, Lithion Recycling, Li-Cycle, AkkuSer, NAWA Technologies, Green Li-ion, Northvolt, Ganfeng Lithium, Reedwood Materials, Primobius, Battery Solutions, American Battery Technology, Accurec Recycling, Neometals, Fortum, SungEel MCC Americas, Redux GmbH

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