Lithium-ion Battery Recycling Market by Battery Chemistry (Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Nickel Cobalt Aluminum Oxide), Recycling Process (Direct (Physical) Process, Hydrometallurgy (Leaching) Process, Pyrometallurgy (Smelting)

Lithium-ion Battery Recycling Market by Battery Chemistry (Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Nickel Cobalt Aluminum Oxide), Recycling Process (Direct (Physical) Process, Hydrometallurgy (Leaching) Process, Pyrometallurgy (Smelting) Process), Battery Component - Global Forecast 2024-2030

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.

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.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Lithium-ion Battery Recycling Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising adoption of electric vehicles worldwide
Increasing awareness to adopt low-carbon technologies
Availability of government subsidies and support to encourage battery recycling

Market Restraints

High cost associated with lithium-ion battery recycling

Market Opportunities

Increasing introduction of advanced lithium-ion battery recycling technologies
Favorable ecosystem for start-ups associated with manufacturing lithium-ion battery recycling

Market Challenges

Safety issues concerning the storage and transportation of spent batteries

Market Segmentation Analysis

Battery Chemistry: Utilization of lithium iron phosphate (LiFePO4) to operate in a wide temperature range
Recycling Process: Adoption of hydrometallurgy (leaching) process to achieve higher recovery of elements
Battery Component: Ongoing advancements to improve active materials of lithium-ion batteries

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Lithium-ion Battery Recycling Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the Lithium-ion Battery Recycling Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Glencore, FCC and Iberdrola partner to recycle lithium-ion batteries

The partnership between Glencore, FCC Environment, and Iberdrola represents a significant step forward in the recycling of lithium-ion batteries. As the use of electric vehicles and other technologies that rely on these batteries continue to grow, finding sustainable solutions for their disposal becomes increasingly important. Through this partnership, the companies are able to combine their expertise in mining, waste treatment, and energy production to create a comprehensive approach to lithium-ion battery recycling. This collaboration is a testament to the power of the circular economy and the potential for innovative partnerships to drive sustainable change in the industries.

UCI researchers join DOE-funded project to reinvent lithium-ion battery recycling

As the demand for lithium-ion batteries continues to grow across multiple industries, so too does the need for efficient and sustainable battery recycling processes. That's why researchers at the University of California, Irvine have joined forces with the U.S. Department of Energy and granted USD 10 million to find new ways to reinvent lithium-ion battery recycling. By exploring innovative technologies and methods to better recover valuable minerals and metals from old batteries, this partnership aims to reduce waste and environmental impact while also supporting a more sustainable supply chain for clean energy technologies. Such initiatives represent an exciting opportunity to advance the recycling industry and accelerate the transition to a greener future.

Ascend Elements opens North America's largest electric vehicle battery recycling facility in Georgia

Ascend Elements, a leading recycling solutions provider, announced the opening of North America's largest electric vehicle battery recycling facility in Georgia. With a capacity to recycle up to 20,000 tons of lithium-ion batteries annually, the state-of-the-art facility is a significant addition to the circular economy. The company's commitment to sustainability is evident through their use of environmentally safe and cutting-edge recycling technology, which maximizes resource recovery and reduces landfill waste. This innovative facility reinforces the importance of proper battery disposal and recycling, ensuring a more sustainable future for generations to come. As the demand for electric vehicles continues to grow rapidly, Ascend Elements' investment in this facility sets a benchmark for lithium-ion battery recycling in North America.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Lithium-ion Battery Recycling Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

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

Please Note: PDF & Excel + Online Access - 1 Year