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Lithium-Ion Battery Recycling Market Trends

Report ID: GMI11980
Published Date: Oct 2024
Report Format: PDF

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Lithium-Ion Battery Recycling Market Trends

Rising implementation of strict regulations by governments and international bodies concerning the disposal of electronic waste will stimulate the process demand. For instance, the European Union mandated recycling targets for battery producers, with similar regulations emerging in other regions including North America and Asia Pacific. Furthermore, growing investments in developing advanced recycling technology, offering high recovery rates of valuable materials and making recycling a more economically viable and environmentally friendly option will drive the business outlook.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The global market for lithium-ion battery recycling was reached USD 5.4 billion in 2023 and is estimated to grow at a 20.6% CAGR from 2024 to 2032, driven by heightened environmental concerns and resource scarcity.

The automotive segment is projected to surpass USD 17 billion by 2032, fueled by the global transition to electric vehicles (EVs) and stringent environmental policies.

The lithium nickel manganese cobalt oxide (NMC) segment is set to grow at a CAGR of over 19.5% through 2032, owing to its high economic value and the increasing demand for batteries with favorable energy density and long cycle life.

The Asia Pacific lithium-ion battery recycling industry is anticipated to exceed USD 14 billion by 2032, driven by rapid growth in electric vehicles and consumer electronics, supported by government subsidies and regulations.

Key players in the market include 3R Recycler, ACE Green Recycling, American Battery Technology Company, Attero Recycling, BatX Energies, Cirbra Solution, Ganfeng Lithium, Glencore, Li-Cycle Holdings Corporation, Lohum Cleantech, Neometals, RecycLiCo Battery Material, Redwood Materials, SK TES, and Umicore.