The global Lithium-ion battery recycling market is projected to grow from USD 16.23 billion in 2024 to USD 56.87 billion by 2032, at a CAGR of 17.0% during the forecast period. This report explores crucial lithium-ion battery recycling market trends, major drivers and market segmentation by [key segment categories]. The rising consciousness among consumers about sustainability and environmental effects is a significant driver of the lithium-ion battery recycling market. The ecological footprint of products—including their lifecycle and end-of-life management—is becoming a more important consideration for consumers when making purchases. Manufacturers are being compelled to engage in ethical recycling methods as a result of consumers’ increased demand for items created from recycled materials. Prioritizing recycling can give businesses a competitive edge by appealing to environmentally conscious consumers, who are increasingly demanding openness in sourcing and production methods.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=153488928

Based on Source, the consumer electronics accounted segment for the largest share during the forecast period. The consumer electronics is projected to have the largest market share due to the shorter lifespans of batterie utilized in them when compared to energy storage systems and EVs. In addition, this rise is supported by the growing use of lithium-ion batteries in laptops, cellphones, and other portable electronics. The significant volume of recyclable lithium-ion batteries produced by this industry is expected to aid the recycling sector as users refresh their devices on a regular basis.

Based on Battery Chemistry, the lithium-iron phosphate segment accounted for the largest share, of the overall Lithium-ion battery recycling market during the forecast period. This trend is being driven by the growing use of LFP batteries in electric vehicles because of its extended lifespan, affordability, and safety. The recycling sector will concentrate on recovering precious materials like lithium, iron, and phosphate as the quantity of end-of-life LFP batteries rises. The expansion of this market segment within the larger lithium-ion battery recycling market is also being aided by government policies and incentives that support battery recycling.

Based on region, Asia Pacific is the largest market for lithium-ion battery recycling, during the forecast period. There are a significant number of end-of-life batteries as a result of rapid industrialization, as well as an increase in the production of consumer electronics and electric vehicles. Infrastructure investments in recycling are also being driven by government programs that support resource recovery and sustainability. Furthermore, the area’s plentiful resources and labor force are reasonably priced, making it a desirable center for battery recycling businesses.

Major players operating in the Lithium-ion battery recycling market include Umicore (Belgium), Glencore (Switzerland), Cirba Solutions (US), Contemporary Amperex Technology Co., Ltd. (China), and RecycLiCo Battery Materials Inc. (Canada). The companies have wide-spread facilities with an established portfolio of lithium-ion battery recycling, a robust market presence, and strong business strategies. These factors are attributed to their progression in the lithium-ion battery recycling market.

Lithium-ion Battery Recycling Companies

Companies such as Glencore (Switzerland), Umicore (Belgium), Cirba Solutions (US), RecycLiCo Battery Materials Inc. (Canada), and Contemporary Amperex Technology Co., Ltd. (China) fall under the winners’ category. These are leading players in the Lithium-ion battery recycling market globally. These players have adopted the strategies of acquisitions, investments, expansions, and partnerships to increase their market shares.

Umicore (Belgium)

Umicore is a global materials technology and recycling group that operates one of the world’s most sophisticated precious metal recycling facilities. The company manages its lithium-ion battery recycling business through the recycling segment. Umicore offers recycling services for lithium-ion, lithium-polymer, and nickel-metal hydride (NiMH) rechargeable batteries. It caters to various applications, including chemical, electric, electronic, automotive, and special glass. Umicore has a strong global presence with operations in 30 countries and comprises 14 research & development centers. It has an intense and focused research & development team working on areas of improvement and developing new plant technologies.

Get a Sample Copy of This Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=153488928

Glencore (Switzerland)

Glencore is among the world’s largest recyclers and processors of nickel-bearing and cobalt-bearing materials, such as used lithium-ion batteries. The company manages its lithium-ion battery recycling business through the metals & minerals segment. Glencore comprises over 150 mining & metallurgical sites and offshore oil production assets. It has a network of over 90 offices in 50 countries in major regions, such as Asia, Europe, the Americas, Africa, and Oceania, which provides the company a competitive edge over its competitors.

Cirba Solutions (US)

Cirba Solutions, formerly known as Retriev Technologies, is among the global battery recycling and management services leaders. In October 2021, Retriev Technologies acquired Battery Solution, a provider of sustainable solutions for end-of-life batteries. They later merged with Heritage Battery Recycling to become the largest lithium-ion battery recycler in North America. Through its recycling technology, the company processes five types of batteries: lead-acid, NiCad & NiMH, lithium-ion, primary lithium, and alkaline batteries. It has six processing locations, including two lithium-ion operations across North America to recover metals such as lithium, iron, cobalt, nickel, and plastics from spent lithium-ion batteries.

Contemporary Amperex Technology Co., Ltd. (China)

Contemporary Amperex Technology Co., Limited is an energy company catering to passenger vehicles, commercial applications, energy storage systems, and battery recycling. The company recycles lithium-ion batteries through its subsidiary, Guangdong Brunp Recycling Technology (China). It recovers nickel, cobalt, manganese, and lithium from spent digital batteries and auto power batteries. Its waste battery disposal capacity is approximately 120,000 tons per annum and generates nickel manganese cobalt hydroxides (Ternary precursor), nickel manganese acid lithium cobalt (Ternary material), lithium cobalt oxide, cobalt chloride, nickel sulfate, and cobaltous sulfate, with more than 99% recovery rate. Its battery recycling network covers China, Japan, Korea, Taiwan, and the Americas.

Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=153488928

RecycLiCo Battery Materials Inc. (Canada)

RecycLiCo Battery Materials Inc., earlier known as American Manganese Inc., recycles battery cathode waste in lithium-ion batteries. It accepts various battery chemistries, including lithium iron phosphate (LFP), lithium manganese oxide (LMO), nickel manganese cobalt (NMC), nickel cobalt aluminum (NCA), and lithium cobalt oxide (LCO). The company recycles cathode scrap or black mass by applying its patented hydrometallurgical cathode recovery process: The RecycLiCo Patented Process can extract up to 100% of lithium, nickel, manganese, and cobalt. These extracted metals are upcycled into higher-value battery materials used in new lithium-ion battery production. Also, the company is interested in exploring and developing minerals and operates mainly in North America.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/lithium-ion-battery-recycling-market-153488928.html