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Hydrometallurgy Recycling Market Key Players Analysis - American Manganese Inc., Li-Cycle Corp., Neometals Ltd., Recupyl SAS, Tes-Amm Singapore Pte. Ltd.
Hydrometallurgy Recycling Market
The Global Hydrometallurgy Recycling Market is estimated to exhibit a CAGR of 12.64% during the forecast period.
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Hydrometallurgical recycling utilizes aqueous solutions and chemical reactions to extract and recover metals from various waste materials. Unlike pyrometallurgy, which relies on high temperatures, hydrometallurgy employs processes such as leaching, precipitation, and solvent extraction to separate and recover metals from input materials. The hydrometallurgical process selectively dissolves target metals from waste, leaving behind non-metallic components. Once dissolved, these metals are extracted using techniques like solvent extraction or precipitation. The recovered metals can then be further treated, purified, and utilized in the production of new products, reducing the need for primary metal extraction. The growth of the hydrometallurgical recycling market is driven by increasing environmental regulations and the growing demand for sustainable resource management. Additionally, the rising volumes of electronic waste and spent batteries are fueling the need for efficient recycling methods. Advancements in hydrometallurgical technologies further enhance the efficiency and effectiveness of metal extraction, contributing to the overall market expansion.
List of Prominent Players in the Hydrometallurgy Recycling Market:
• Umicore
• Glencore International AG
• Retriev Technologies Inc.
• International Metals Reclamation Company, LLC (INMETCO)
• American Manganese Inc.
• LI-CYCLE CORP.
• Neometals Ltd.
• Recupyl SAS
• Tes-Amm Singapore Pte. Ltd.
• Fortum OYJ
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Market Dynamics:
Drivers:
The lithium-manganese oxide battery segment held the largest market share by battery chemistry in 2020, driven by the growing demand for these batteries in applications such as electricity, gas, and water meters, fire and smoke alarms, security devices, and other energy storage systems. The hydrometallurgical approach is regarded as the most efficient method for recycling used lithium-ion batteries. Furthermore, the global hydrometallurgical recycling market is expected to experience significant growth throughout the forecast period, spurred by advancements in recycling technologies and substantial government investments. However, while lithium-ion batteries offer high energy density, safety, and low cost, their challenging recyclability may hinder the overall growth of the hydrometallurgical recycling market.
Challenges:
The COVID-19 pandemic has had a widespread impact on various industries, including the recycling sector. The abrupt closure of manufacturing and recycling facilities due to global lockdowns negatively affected the automotive battery recycling industry. Economic uncertainty, including mass layoffs and decreased consumer spending, is expected to significantly influence the market share of car battery recycling in the coming years. Additionally, supply chain disruptions, particularly from China-one of the largest battery manufacturing and recycling hubs-further complicated the import and export of raw materials. These interruptions have notably impacted the availability of critical materials such as cobalt, lithium, and lead, which are both environmentally hazardous and non-renewable.
Regional Trends:
The North American hydrometallurgical recycling market is poised to capture a significant market share in terms of revenue and is projected to grow at a high compound annual growth rate (CAGR) in the near future. This growth can be attributed to the region's well-established recycling infrastructure, stringent environmental regulations, and a growing focus on sustainable practices. The substantial volumes of electronic waste and end-of-life batteries generated in North America create a critical demand for efficient recycling solutions. Hydrometallurgical recycling offers an effective means of extracting valuable metals from these waste streams. Additionally, the strong manufacturing sector in North America, particularly in the automotive and electronics industries, fuels the demand for recycled metals. The dominance of North America in the industry is further supported by the presence of key industry players and ongoing technological advancements in hydrometallurgical recycling.
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Recent Developments:
• In February 2023, a memorandum of understanding for the recycling of cobalt, nickel, manganese, and lithium metals from used EV batteries of Mercedes-Benz and their remanufacture into battery cathode materials was signed by Limited, Mercedes-Benz, and GEM Co., Ltd.
• In September 2022, to deliver secure and responsible electric vehicle (EV) battery recycling in central Europe, Fortum established Fortum Batteries Recycling GmbH in Germany.
Segmentation of Hydrometallurgy Recycling Market-
By Battery Chemistry-
• Lithium-Nickel Manganese Cobalt
• Lithium-Iron Phosphate
• Lithium-Manganese Oxide
• Lithium-Titanate Oxide
• Lithium-Nickel Cobalt Aluminum Oxide
By End-user-
• Automotive
• Industrial
• Power
• Marine
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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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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