Lithium-Ion Battery Recycling Market Trend, Analysis, Drivers, Restraints, Company Profiles and Forecast by 2027
Posted on Sep 24 2021 6:12 AM
"Lithium-Ion Battery Recycling Market Size, Share & COVID-19 Impact Analysis, By Chemistry (Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Manganese Oxide (LMO), Lithium Nickel Cobalt Aluminum Oxide (NCA), and Lithium Nickel Manganese Cobalt Oxide (NMC)), By Source (Electronics, Electric Vehicles, Power Tools, and Others), By Process (Physical/Mechanical, Hydrometallurgical, and Pyrometallurgical), and Regional Forecast, 2020-2027 "
The global lithium ion battery recycling market analysis is set to gain momentum from the rising introduction of strict government norms for treating vital materials in the battery chemistry. This information is given by Fortune Business Insights™ in a new report, titled, “Lithium Ion Battery Recycling Market Size, Share & COVID-19 Impact Analysis, By Chemistry (Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Manganese Oxide (LMO), Lithium Nickel Cobalt Aluminum Oxide (NCA), and Lithium Nickel Manganese Cobalt Oxide (NMC)), By Source (Electronics, Electric Vehicles, Power Tools, and Others), By Process (Physical/Mechanical, Hydrometallurgical, and Pyrometallurgical), and Regional Forecast, 2020-2027.” The report further mentions that the lithium ion battery recycling market size was USD 1.31 billion in 2019. It is projected to reach USD 11.07 billion in 2027 at a CAGR of 32.2% in the forecast period.
How Did We Conduct Our Research?
The research report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down methods to calculate the lithium ion battery recycling market size.
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COVID-19 Pandemic to Impact Growth Backed by Stoppage of Cross-border Trade
The COVID-19 pandemic has delayed various operations in a wide range of industries. Government bodies are introducing new rules, such as lockdown and social distancing policies to curb transmission. Halt of cross-border trade activities would negatively impact the supply chain network. We are offering in-depth insights into the lithium-ion battery recycling industry to help our clients better understand the current scenario.
Drivers & Restraints
Increasing Demand for Clean Energy Sources to Boost Growth
People nowadays are rapidly shifting towards clean power sources as they offer efficient input to various applications. Companies worldwide have surged the installation of multiple batteries for numerous electric vehicles and energy storage. This is expected to bolster the replacement of long-standing batteries with low out efficiency generating wastes. Total, for instance, announced its plan to construct a battery-based energy storage project in France in March 2020. Such initiatives are likely to accelerate the lithium ion battery recycling market growth in the upcoming years. However, the construction of new recycling facilities involves high investments, which, in turn, may hamper the demand for lithium-ion battery recycling services.
Some of the Key Questions Answered in this Report:
- Detailed Overview of Lithium-Ion Battery Recycling Market will help deliver clients and businesses making strategies.
- Influencing factors that are thriving demand and latest trends running in the market.
- Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
- What trends, challenges and barriers will impact the development and sizing of the Global Lithium-Ion Battery Recycling Market Forecast?
- SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
- What is the Market growth momentum or market carries during the forecast period?
- Which region may tap the highest market share in the coming era?
- Which application/end-user category or Product Type may seek incremental growth prospects?
- What focused approach and constraints are holding the Lithium-Ion Battery Recycling Market demand?
Large Battery Installed Base to Augment Growth in Asia Pacific
Geographically, Asia Pacific generated USD 1.15 billion in terms of revenue in 2019. The presence of favorable battery energy storage policies would majorly contribute to this growth. Coupled with this, a large battery installed base and rising number of lithium-ion battery recycling firms would aid regional growth.
On the other hand, in North America, the U.S. Department of Energy (DOE) announced its plans to invest USD 20.5 million in its battery recycling infrastructure and unveil a modern R&D facility. Lastly, in Europe, the Lithium Ion Battery Recycling Market is likely to grow significantly throughout the forthcoming years backed by the surging number of clean energy generation targets that are being implemented by the European Union for reducing pollution.
Key Players Focus on Partnerships & New Plant Development to Intensify Competition
The global Lithium Ion Battery Recycling Market houses a large number of large and small and medium enterprises (SMEs). Some of them are currently striving to compete with their rivals by constructing new lithium-ion battery recycling plants. A few others are participating in partnerships and collaborations to jointly optimize their services. Below are the two latest industry developments:
- September 2020: Solvay and Veolia partnered up to develop a circular economy consortium. They aim to optimize the lithium-ion battery recycling process from hybrid and electric vehicles, especially in Europe. They will reuse rare or critical raw materials.
- July 2019: BRUNP is planning to construct a new plant for producing approximately 100,000 tons/year of lithium-ion battery (LIB) scrap in China. It will start operating from 2020.
A list of all the renowned providers operating in the Lithium Ion Battery Recycling Market:
- SNAM (France)
- Umicore (Belgium)
- Sumitomo Metal Mining Co., Ltd. (Japan)
- Lithion Recycling Inc. (Canada)
- BATREC INDUSTRIE AG (Switzerland)
- American Zinc Recycling Corp (U.S.)
- Fortum (Finland)
- DOWA ECO-SYSTEM Co., Ltd. (Japan)
- Neometals Ltd (Australia)
- ACCUREC Recycling GmbH (Germany)
- AkkuSer (Finland)
- San Lan Technologies Co., Ltd (China)
- Duesenfeld (Germany)
- Glencore (Switzerland)
- Redux GmbH (Germany)
- uRecycle Group (Finland)
- Retriev Technologies Inc. (Canada)
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
Name: Ashwin Arora
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