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Global Lithium-ion Battery Recycling Market Size is valued at USD 16.0 Billion in 2024 and is predicted to reach USD 77.6 Billion by the year 2034 at a 17.2% CAGR during the forecast period for 2025-2034.
Key Industry Insights & Findings from the Report:
- The rise in popularity of electric vehicles is one of the main driving factors for the lithium-ion battery recycling industry.
- Incentives and policies that promote the recycling of lithium-ion batteries encourage businesses and consumers to engage in recycling programs, boosting product demand.
- Asia Pacific dominated the market and accounted for a revenue share of global revenue in 2024.
- One of the significant concerns restraining industry growth is the absence of standardized procedures for collecting, transporting, and recycling lithium-ion batteries.
Lithium-ion battery recycling refers to gathering lithium-ion batteries from various sources, such as automobiles, industrial equipment, consumer goods, and electronic devices, as well as the recovery of metals through recycling procedures. The global lithium-ion battery recycling market is anticipated to expand due to governmental laws, environmental safety, and public awareness.
The availability of protective layers to reduce the risk of fire and short-circuiting, as well as the attractive design of batteries, are predicted to open up new growth potential in the global market. Furthermore, the battery recycling businesses will likely have a huge opportunity to invest in and refocus their resources to develop a breakthrough battery recycling technology due to advancements in battery technologies that result in the development of technologically advanced batteries being developed by manufacturers.
However, the market for lithium-ion battery recycling is constrained by the high capital costs associated with building new recycling facilities and the specialization of supply and collecting chains. Additionally, the increased recycling of other chemistries like lead-acid batteries and the lack of an appropriate legislative framework in many developing countries to remove battery materials may hinder the Lithium-ion Battery Recycling market expansion.
Competitive Landscape:
Some major the lithium-ion battery recycling market players are:
- Accurec Recycling Gmbh
- Akkuser Oy
- American Battery Technology Company
- American Manganese Inc.
- American Zinc Recycling
- Batrec Industrie Ag
- Battery Recycling Made Easy (Brme)
- Contemporary Amperex Technology Co., Limited
- Duesenfeld Gmbh
- Ecobat
- Envirostream Australia Pty Ltd
- Euro Dieuze Industrie (E.D.I.)
- Fortum Corporation
- Ganfeng Lithium Co., Ltd
- Gem Co., Ltd
- Glencore International Ag
- Li-Cycle Corp
- Lithion Recycling Inc.
- Metal Conversion Technologies (Mct)
- Neometals Ltd
- Onto Technology Llc
- Raw Materials Company (Rmc)
- Redwood Materials, Inc.
- Retriev Technologies Inc
- Sitrasa
- Smc Recycling
- Tata Chemicals Limited
- Umicore
- Urecycle Group Oy
Market Segmentation:
The lithium-ion battery recycling market is segmented by source, recycling process, battery component, battery chemistry. Based on source, the market is segmented as automotive and non-automotive. Non-automotive is further segmented into industrial, power, marine, consumer electronics, other sources. By recycling process market is segmented into hydrometallurgical, pyrometallurgical, physical/mechanical. By battery component market is segmented into active material and non-active material. Active material is subdivided into cathode/positive and anode/negative. Non-active material is sub segmented into electrolyte, separator materials, other material. By battery chemistry market is segmented into lithium nickel manganese cobalt, lithium iron phosphate, lithium manganese oxide, lithium titanate oxide, lithium nickel cobalt aluminum oxide.
Based On Source, The Consumer Electronics Segment Accounts For A Major Contributor In The Lithium-Ion Battery Recycling Market.
The growing demand for consumer electronics like smartphones, laptops, and tablets has led to a surge in lithium-ion battery usage. As these devices reach the end of their lifespan, a significant number of used batteries will require disposal. With increasing awareness among producers and consumers about the environmental risks of improper disposal, this waste presents a major opportunity for recycling. Additionally, the presence of valuable metals like lithium and cobalt further drives investment in the recycling market, making the consumer electronics segment the primary source of recyclable lithium-ion batteries.
The Lithium Nickel Cobalt Aluminum Oxide (NCA) Segment Witnessed Growth At A Rapid Rate
The lithium-ion battery recycling market is growing rapidly, with NCA batteries leading due to their rising use in EVs and energy storage. Their high energy density drives demand for long-lasting power solutions, while sustainability efforts and regulations fuel investment in recycling technologies to recover valuable metals like nickel, cobalt, and lithium. As green consumerism gains traction, NCA is a key driver of market expansion.
The North America Lithium-ion Battery Recycling Market Holds A Significant Revenue Share In The Region
The North America lithium-ion battery recycling market is expected to register the largest market share in revenue in the near future. The two main factors propelling market revenue growth in this area are the high adoption of photovoltaic systems in homes and commercial buildings and the growing demand for electric vehicles. In several of the nations in this area, the automobile industry is a significant consumer of lithium-ion batteries, which helps drive market revenue growth. In addition, Asia Pacific is projected to grow at a rapid rate in the global lithium-ion battery recycling market due to the growing popularity of EVs. In essence, the region's developing economies' growing consumer understanding of EVs' environmental advantages is expected to spur industry growth. Manufacturers focus on recycling spent batteries to meet autos' demand for Li-ion batteries.
Recent Developments:
- In Feb 2022, Glencore and Britishvolt agreed to a strategic agreement to create a world-class battery recycling ecosystem in the UK.
- In July 2021, an announcement regarding plans to increase production and recycling capacities was made by Lohum Cleantech, a maker of lithium-ion batteries and a provider of recycling solutions. Over the next two years, the company intends to raise recycling capacity from 1,000 tonnes per annum (TPA) to 10,000 TPA and increase LIB output from 300 MWh to 1 GWh.
Lithium-ion Battery Recycling Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2024 |
USD 16.0 Billion |
|
Revenue forecast in 2034 |
USD 77.6 Billion |
|
Growth rate CAGR |
CAGR of 17.2% from 2025 to 2034 |
|
Quantitative units |
Representation of revenue in US$ Bn, Volume (Unit), and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Source, Recycling Process, Battery Component, Battery Chemistry |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South Korea; Southeast Asia; |
|
Competitive Landscape |
Ganfeng Lithium Co., Ltd., American Battery Technology Company, Accurec Recycling GmbH, Akkuser Oy, Duesenfeld GmbH, Li-Cycle Corp., Fortum Corporation, Retriev Technologies, Inc., Lithion Recycling, Inc., and Umicore |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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