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The Global Lithium-Ion Battery Recycling Market was valued at USD 2.64 Billion in 2019 and is speculated to reach USD 17.21 Billion by 2027, delivering a CAGR of 26.5% by the end of the forecast period according to a new report by Reports and Data. Lithium-Ion battery contains various harmful chemicals and heavy metals such as cobalt, copper, nickel sulfate, aluminum, and graphite, among others. The disposal of these toxic materials raises concern over water pollution, and soil contamination which offers opportunities to the Lithium-Ion battery recycling market to grow.

Increasing application of Lithium-Ion batteries in cell phones & laptops and the automotive industries are the driving factors that have propelled the growth of the global Lithium-Ion battery recycling market. The demand for Li-ion batteries has increased due to increased adoption of the electric vehicle and deployment in energy storage systems. However, the growing trend of extraction of battery materials and repacking & second life to the battery are some of the factors affecting the market for Lithium-Ion recycling positively. The developing regions are rapidly investing in the international Lithium-Ion battery market and Lithium-Ion battery recycling market.

North America is a key region for the Lithium-Ion battery recycling market and is likely to witness a consistent growth during the forecast period. Limited availability of raw materials in the region are forcing the manufacturers to adopt the approach of recycling hence driving the market significantly. Moreover, advancement in technologies which are being developed across the region are further driving the growth of the market for Lithium-Ion battery recycling.

Battery Type Outlook:

Based on battery type, the lithium manganese oxide segment is projected to grow at the highest CAGR from 2017 to 2027. 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 properties of LMO cells make them apt for applications in power tools and hybrid or electric vehicles.

End-Use Outlook:

Based on end-use, automotive segment is projected to be the largest in the lithium-ion battery recycling market in the coming years. Increasing adoption of EVs has driven the demand for lithium-ion batteries. Low raw materials accessibility such as that of lithium and cobalt, most countries and players are recycling discarded spent lithium-ion batteries.

The power sector is projected to grow at the highest CAGR from 2017 to 2027. Every year EU produces nearly 24 kilos of electrical and electronic waste per citizen, which includes lithium used in high-tech industries. EU has implemented regulations that 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 focusing on the generation of renewable energy and its storage 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 might dominate the power segment, resulting in a high output of spent lithium-ion batteries for recycling.

Regional Outlook:

The Asia Pacific li-ion battery recycling market is projected to grow at the highest CAGR from 2017 to 2027. 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.

Market-O-Nomics:

The Global Lithium-Ion Battery Recycling Market was valued at USD 2.64 Billion in 2019 and is speculated to reach USD 17.21 Billion by 2027, delivering a CAGR of 26.5% by the end of the forecast period according to a new report by Reports and Data.

Lithium-Cobalt Oxide (LCO) battery type is forecasted to grow with a CAGR of 26.8% during the forecast period. The growth is due to the high demand for these batteries in consumer electronic devices such as televisions, laptops, and smartphones.

Mechanical process segment held a market share of 34.6% in the year 2018. By mechanical separation, the mixed electrode materials are obtained from spent batteries and then undergo several chemical processes.

Power segment held a market share of 24.3% in the year 2018. These batteries are gaining popularity in significant numbers for the power industries throughout the world. The deployment of Lithium-Ion batteries in energy storage systems creates opportunities for the recycling market.

North America is forecasted to grow with a CAGR of 26.2% during the forecast period. The dependence of the majority of the countries on China and the growing cobalt price is forcing the Lithium-Ion manufacturers of this region to recycle the battery materials so that they can meet the consumer demand.

Competitive Landscape:

Some of the prominent companies in the industry include Umicore, Glencore, Retriev Technologies, Raw Materials Company, American Zinc Recycling (INMETCO), Battery Recycling Made Easy, Brunp Recycling, SungEel HiTech, Taisen Recycling, and 4R Energy Corp among others.

Segments Covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2017 to 2027. For the purpose of this report, Reports and Data have segmented into the global Lithium-Ion Battery Recycling market on the basis of battery type, technology, end-use, and region:

Battery Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Lithium-Nickel Manganese Cobalt (Li-NMC)

Lithium Iron Phosphate (LFP)

Lithium-Manganese Oxide (LMO)

Lithium-Titanate Oxide (LTO)

Lithium-Nickel Cobalt Aluminum Oxide (NCA)

Lithium-Cobalt Oxide (LCO)

Technology Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Hydrometallurgical Process

Pyrometallurgy Process

Mechanical Process

End-use Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Automotive

Marine

Power

Industrial

Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

North America U.S

Europe UK France

Asia Pacific China India Japan

MEA

Latin America Brazil

