CHICAGO, Feb. 13, 2020 /PRNewswire/ -- According to the new market research report "Lithium-ion Battery Recycling Market by Battery Chemistry (Lithium-nickel Manganese Cobalt, Lithium-iron Phosphate, Lithium-Manganese Oxide, LTO, NCA, LCO), Industry (Automotive, Marine, Industrial, and Power), and Region - Global Forecast to 2030", published by MarketsandMarkets™, the Lithium-ion Battery Recycling Market is estimated at USD 1.5 billion in 2019 and projected to grow from USD 12.2 billion in 2025 to USD 18.1 billion by 2030, at a CAGR of 8.2% from 2025 to 2030.
Download PDF Brochure:
Browse in-depth TOC on "Lithium-ion Battery Recycling Market"
72 – Tables
27 – Figures
146 – Pages
The rising demand for electric vehicles to control the increasing pollution levels has spurred the consumption of lithium-ion batteries. Since these have lower self-discharge rates than other rechargeable cells such as Ni-Cad and NiMH, they offer high energy and power density and are thus used in various applications, from cellular phones, industrial equipment, to electric-drive vehicles.
Lithium Manganese Oxide is the highest-recycled battery type of the lithium-ion battery recycling market
Based on chemistry, the lithium manganese oxide segment is projected to grow at the highest CAGR from 2025 to 2030. A lithium-manganese oxide (LMO) cell is a three-dimensional spinel-structured cell with lithium manganese as cathode material. The spinel structure in LMO cells offers various advantages such as lower internal resistance, high thermal stability, improved current handling, and enhanced safety. These attributes of LMO cells make them suitable for applications such as power tools and hybrid and electric vehicles.
The power sector is projected to grow at the highest CAGR from 2019 to 2024 in the lithium-ion battery recycling market
Based on end use, the power sector is projectedto grow at the highest CAGR from 2019 to 2024. Each year EU produces approximately 24 kg electrical and electronic waste per citizen, which includes lithium used in high-tech industries. EU has implemented regulations which required battery collection rates of at least 25% by the end of September 2012 and to gradually increase these to 45% by the end of September 2016. The power sector is working on generating renewable energy and storing it for multiple uses. The low self-discharge rate of lithium-ion batteries is one of the factors driving its adoption in smart-grid and renewable energy storage systems. This is expected to lead the power sector generating a high output of spent lithium-ion batteries for recycling.
Request Sample Pages:
Automotive is projected to be the largest lithium-ion battery recycling segment
Based on end use, automotive is projected to be the largest segment in the lithium-ion battery recycling market and is expected to lead in the coming years. Increasing adoption of electric vehicles has driven the demand for lithium-ion batteries since there is low accessibility to raw materials such as lithium and cobalt most of the countries and players are recycling discarded spent lithium-ion batteries.
The Asia Pacific region is projected to grow at the highest CAGR in the lithium-ion battery recycling market
The lithium-ion battery recycling market in the Asia Pacific region is projected to grow at the highest CAGR from 2019 to 2024. The Asia Pacific region comprises China, Japan, India, and other countries. The Asia Pacific is projected to grow at the highest CAGR and is also one of the largest markets for lithium-ion battery recycling in applications such as electric vehicles and energy storage. China and India are one of the fastest-growing economies in the world. The demand for lithium-ion batteries is very high in the Asia Pacific region, owing to the increasing population and its need for industrial applications.
Some of the leading players operating in the Lithium-ion Battery Recycling Market include Umicore (Belgium), Glencore (Switzerland), Retriev Technologies (US), Raw Materials Company (Canada), American Zinc Recycling (INMETCO) (US), and Battery Recycling Made Easy (US), among others
Get 10% Free Customization on this Report:
Browse Adjacent Markets: Equipment Machine and Tooling Market Research Reports & Consulting
Related Reports :
Industrial Batteries Market by Type (Lead-Acid, Nickel-Based, Lithium-Based), End-user Industry (Telecom & Data Communication, Uninterruptible Power Supply (UPS)/Backup, Industrial Equipment, Grid-Level Energy Storage), and region - Global Forecast to 2021
Lithium Compounds Market by Application (LI-ION Batteries, Glass & Ceramics, Medical, Lubricants, Metallurgy, Polymers), by Derivatives (Lithium Carbonate, Lithium Hydroxide, Lithium Metal, Butyl-Lithium) & by Region - Global Forecasts to 2020
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Sanjay Gupta
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/lithium-ion-battery-recycling-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/lithium-ion-battery-recycling.asp