Lithium-ion Battery Recycling Market by Battery Chemistry, Recycling Process, Battery Component

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[191 Pages Report] The Lithium-ion Battery Recycling Market size was estimated at USD 9.42 billion in 2023 and expected to reach USD 11.04 billion in 2024, at a CAGR 18.55% to reach USD 31.02 billion by 2030.

Lithium-ion battery recycling includes collecting lithium-ion batteries through various sources, including automotive, industrial, consumer & electronics appliances, and recovering metals or elements through recycling processes. These batteries, widely used in electronic devices, electric vehicles, and renewable energy storage systems, contain valuable materials that can be recovered and reused. Increasing concerns owing to battery waste disposal and stringent government policies, with the increase in usage of lithium-ion batteries due to the decrease in prices of lithium-ion batteries, have driven the growth of lithium-ion battery recycling technologies. Additionally, the growing adoption of EVs has created a need for lithium-ion battery recycling. However, the high cost and low yield related to battery recycling are impeding the growth of the battery recycling market. The introduction of advanced lithium-ion-battery recycling techniques is expected to benefit the market's growth. Developing automated sorting technologies and AI-driven process optimizations and pioneering battery-as-a-service (BaaS) models that incorporate recycling from the outset also present growth opportunities for the industry.

KEY MARKET STATISTICS
Base Year [2023]	USD 9.42 billion
Estimated Year [2024]	USD 11.04 billion
Forecast Year [2030]	USD 31.02 billion
CAGR (%)	18.55%

Battery Chemistry: Utilization of lithium iron phosphate (LiFePO4) to operate in a wide temperature range

Lithium-iron phosphate (LFP) batteries are known for their long cycle life, high energy density, and thermal stability. They are commonly used in electric vehicles and energy storage systems. Lithium-manganese oxide (LMO) has high power density, making it suitable for power tools, electric bicycles, and other applications requiring high power output. Lithium-nickel cobalt aluminum oxide (NCA) has high energy density and long cycle life. Lithium-nickel manganese Cobalt oxide batteries offer a good balance of energy density, power, and safety, making them popular in EVs, portable devices, and energy storage. Lithium-titanate oxide batteries are distinct for their ability to support rapid charging, excellent low-temperature performance, and high cycle stability.

Recycling Process: Adoption of hydrometallurgy (leaching) process to achieve higher recovery of elements

Pyrometallurgy is a high-temperature process that involves melting the batteries in a furnace to recover the metals. In this process, the battery components are heated to high temperatures, causing them to break down and separate into their component materials. Hydrometallurgy (leaching) is a chemical process that involves dissolving the battery components in a liquid, usually an acid or a base. The dissolved metals are then separated and purified. This process is less energy-intensive than pyrometallurgy but requires the use of chemicals and generates wastewater. Direct (physical) processes involve the physical separation of battery components. This process includes crushing, shredding, and sieving the batteries to separate the materials.

Battery Component: Ongoing advancements to improve active materials of lithium-ion batteries

Active materials are the key components of a lithium-ion battery that store and release energy during charge and discharge cycles. These materials typically include lithium cobalt oxide (LCO), lithium manganese oxide (LMO), lithium nickel cobalt aluminum oxide (NCA), and lithium iron phosphate (LFP). Non-active materials are the components of a lithium-ion battery that are not directly involved in the energy storage and release process. These materials include the electrolyte, separator, casing, and other supporting materials.

Regional Insights

The presence of many recycling companies, availability of different battery manufacturers, large battery installed bases, and favorable battery energy storage policies are some of the factors propelling the growth of the lithium-ion battery recycling market in the Americas. The Environmental Protection Agency (EPA), with the California Air Resources Board (CARB) and National Highway Traffic Safety Administration (NHTSA), offered guidelines for the adoption of electric vehicles and reaching the goal of zero-emission vehicles by 2025. In the EU, stringent regulations on waste management and circular economy targets heavily influence consumer buying patterns and manufacturer practices. The EU Battery Directive lays down specific rules for recycling and the disposal of batteries, aiming for a more sustainable lifecycle. APAC's position as a manufacturing hub for EVs has created a need for lithium-ion battery recycling technologies. Additionally, government policies and initiatives to promote sustainable practices and recycling have also proven beneficial for the lithium-ion battery recycling market.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Lithium-ion Battery Recycling Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Lithium-ion Battery Recycling Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Lithium-ion Battery Recycling Market, highlighting leading vendors and their innovative profiles. These include ACCUREC-Recycling GmbH, Akkuser Oy, American Battery Technology Company by Komatsu Ltd., Aqua Metals, Inc., Attero Recycling Pvt. Ltd., Batrec Industrie AG, Battery Recyclers of America, Call2Recycle, Inc., Cirba Solutions by Battery Solutions, LLC, Contemporary Amperex Technology Co., Limited, Duesenfeld GmbH, Ecobat, LLC, Environmental Treatment System SA de CV, Envirostream Australia Pty Ltd. by Lithium Australia NL, F & R Cawley Ltd. by SUEZ Recycling and Recovery, Fortum Corporation, Ganfeng Lithium Group Co., Ltd., GEM Co., Ltd., Li-Cycle Corp., Lithion Technologies, Neometals Ltd., OnTo Technology LLC, RecycLiCo Battery Materials Inc., SMCI Group, Snam S.p.A., Stena Metall Group, Sumitomo Metal Mining Co., Ltd., Suny Group, take-e-way GmbH, Tata Chemicals Limited, TES Group, The International Metals Reclamation Company, and Umicore N.V..

Market Segmentation & Coverage

This research report categorizes the Lithium-ion Battery Recycling Market to forecast the revenues and analyze trends in each of the following sub-markets:

Battery Chemistry
- Lithium-Iron Phosphate
- Lithium-Manganese Oxide
- Lithium-Nickel Cobalt Aluminum Oxide
- Lithium-Nickel Manganese Cobalt
- Lithium-Titanate Oxide

Recycling Process
- Direct (Physical) Process
- Hydrometallurgy (Leaching) Process
- Pyrometallurgy (Smelting) Process

Battery Component
- Active Material
- Non-active Material

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Lithium-ion Battery Recycling Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Lithium-ion Battery Recycling Market?

3. What are the technology trends and regulatory frameworks in the Lithium-ion Battery Recycling Market?

4. What is the market share of the leading vendors in the Lithium-ion Battery Recycling Market?

5. Which modes and strategic moves are suitable for entering the Lithium-ion Battery Recycling Market?

Product Code: MRR-0355054AC45D

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising adoption of electric vehicles worldwide
  - 5.1.1.2. Increasing awareness to adopt low-carbon technologies
  - 5.1.1.3. Availability of government subsidies and support to encourage battery recycling
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with lithium-ion battery recycling
- 5.1.3. Opportunities
  - 5.1.3.1. Increasing introduction of advanced lithium-ion battery recycling technologies
  - 5.1.3.2. Favorable ecosystem for start-ups associated with manufacturing lithium-ion battery recycling
- 5.1.4. Challenges
  - 5.1.4.1. Safety issues concerning the storage and transportation of spent batteries
5.2. Market Segmentation Analysis
- 5.2.1. Battery Chemistry: Utilization of lithium iron phosphate (LiFePO4) to operate in a wide temperature range
- 5.2.2. Recycling Process: Adoption of hydrometallurgy (leaching) process to achieve higher recovery of elements
- 5.2.3. Battery Component: Ongoing advancements to improve active materials of lithium-ion batteries
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Lithium-ion Battery Recycling Market, by Battery Chemistry

6.1. Introduction
6.2. Lithium-Iron Phosphate
6.3. Lithium-Manganese Oxide
6.4. Lithium-Nickel Cobalt Aluminum Oxide
6.5. Lithium-Nickel Manganese Cobalt
6.6. Lithium-Titanate Oxide

7. Lithium-ion Battery Recycling Market, by Recycling Process

7.1. Introduction
7.2. Direct (Physical) Process
7.3. Hydrometallurgy (Leaching) Process
7.4. Pyrometallurgy (Smelting) Process

8. Lithium-ion Battery Recycling Market, by Battery Component

8.1. Introduction
8.2. Active Material
8.3. Non-active Material

9. Americas Lithium-ion Battery Recycling Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Lithium-ion Battery Recycling Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Lithium-ion Battery Recycling Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Glencore, FCC and Iberdrola partner to recycle lithium-ion batteries
- 12.3.2. UCI researchers join DOE-funded project to reinvent lithium-ion battery recycling
- 12.3.3. Ascend Elements opens North America's largest electric vehicle battery recycling facility in Georgia
- 12.3.4. Notice of acquisition of land and a building for Lib recycling plant building a new plant in Ibaraki prefecture, aiming to triple processing capacity
- 12.3.5. Electronics firm Sonid acquires Young Han Metal to establish lithium-ion battery recycling business
- 12.3.6. StraightUp Resources Inc. completes acquisition of Quebec Lithium project and battery recycling technology company
- 12.3.7. Launch of ReLiFe: A game-changer lithium batteries recycling project from Sunlight Group and partners
- 12.3.8. Green Li-ion Secures USD$20.5 million in pre-series b funding to scale lithium-ion battery recycling technology globally
- 12.3.9. Lithium-ion battery recycler ABTC expands operations with purchase of move-in ready, commercial-scale facility
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio