Global Lithium-ion Battery Recycling Market to Reach USD 35.1 Billion by 2031, Driven by Rising Demand for Electric Vehicles and Stringent Government Regulations

DUBLIN, July 28, 2023 /PRNewswire/ -- The "Lithium-ion Battery Recycling Market by Source (Automotive, Non-automotive), Battery Chemistry, Battery Components, Recycling Process (Hydrometallurgical Process, Pyrometallurgy Process, Physical/ Mechanical Process), and Region - Global Forecast to 2031" report has been added to  ResearchAndMarkets.com's offering.

The report projects significant growth in the lithium-ion battery recycling market, reaching USD 35.1 billion by 2031, with a CAGR of 20.6% during the forecast period.

Market Dynamics:

The lithium-ion battery recycling market is poised for intense growth across various sources, including automotive and non-automotive sectors such as industrial, consumer electronics, power, and marine.

Drivers:

• Increase in Demand for Electric Vehicles
• Stringent Local and State Government Regulations and EPA Guidelines
• Rising Demand for Recycled Products and Materials
• Depletion of Earth Metals

Restraints:

• Safety Issues Related to Storage and Transportation of Spent Batteries

Opportunities:

• Subsidies to Encourage Battery Recycling
• Rising Adoption of Lithium-Ion Batteries due to Declining Prices

Challenges:

• High Cost of Recycling and Dearth of Technologies

Battery Chemistry Insights:

• Lithium-iron-phosphate (LFP) segment expected to be the second-largest segment in the lithium-ion battery recycling market from 2022 to 2031.
• LFP batteries are widely used in high-power devices and equipment due to their long-life cycle, high current rating, and enhanced safety.
• Increasing adoption of LFP batteries in electric vehicles and power tools expected to drive growth in the LFP segment.

Source Analysis:

• Consumer electronics segment holds the largest share in the non-automotive segment of the lithium-ion battery recycling market in 2022.
• Lithium-ion batteries are preferred for consumer electronics due to their high energy density and shorter recharge time, leading to increased generation of spent batteries for recycling.

Regional Projections:

• Europe projected to witness the highest CAGR in the lithium-ion recycling market from 2022 to 2031.
• Europe's focus on reducing emissions and promoting electric vehicles drives the demand for lithium-ion battery recycling in the region.

Competitive Landscape

Key Companies

• Umicore
• Glencore
• Cirba Solutions
• Contemporary Amperex Technology Co. Limited
• Recyclico Battery Materials Inc.
• American Battery Technology Company
• Accurec Recycling GmbH
• Ecobat
• Fortum
• Gem Co. Ltd.
• The International Metals Reclamation Company
• Li-Cycle Corp.
• Neometals Ltd.
• Redwood Materials Inc.
• Stena Recycling
• Tes

Other Companies

• Envirostream Australia Pty Ltd.
• Battery Recycling Made Easy (Brme)
• Duesenfeld GmbH
• Smc Recycling
• Tata Chemicals Limited
• Lithion Recycling
• Onto Technology
• Batrec Industrie
• Euro Dieuze Industrie (E.D.I.)
• Sitrasa

Case Study Analysis:

• Attero Recycling: Key highlights and success stories of the company's approach to lithium-ion battery recycling.

The report provides a comprehensive analysis of the lithium-ion battery recycling market's drivers, restraints, opportunities, and challenges. It includes valuable insights into the value chain and ecosystem of the market, along with a technology analysis and tariff and regulatory landscape. The study also presents a patent analysis, key conferences and events, trade data, and pricing analysis.

For more information about this report visit https://www.researchandmarkets.com/r/nhwvgz

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SOURCE Research and Markets