Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for global professionals · Wednesday, December 4, 2024 · 766,106,628 Articles · 3+ Million Readers

Lithium Ion Battery Recycling Market Size to Hit USD 6.55 Billion by 2028 | Exhibit a CAGR of 18.5%

Heavy Demand for Backup Power and need to Handle Materials of Battery Chemistry driving the growth of Global Lithium Ion Battery Recycling Market

/EIN News/ -- Pune, India, March 29, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the Lithium Ion Battery Recycling market size is projected to reach USD 6.55 billion by 2028, at a CAGR of 18.5%. The global Lithium Ion Battery Recycling market size was USD 1.70 billion in 2020. According to our analysts, market is set to gain momentum from the rising introduction of strict government norms for treating vital materials in battery chemistry.

The COVID-19 pandemic has delayed various operations in a wide range of industries. Government bodies are introducing new rules, such as lockdown and social distancing policies, to curb transmission. The halt of cross-border trade activities would negatively impact the supply chain network. We are offering in-depth insights into this industry to help our clients better understand the current scenario.


Request Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/lithium-ion-battery-recycling-market-100244


Report Highlights:

Report Coverage Details
Forecast Period 2021-2028
Forecast Period 2021 to 2028 CAGR 18.5%
2028 Value Projection USD 6.55 billion
Base Year 2020
Market Size in 2020 USD 1.70 billion
Historical Data for 2017-2019
No. of Pages 240
Segments covered Chemistry, Source, Process and Region
Growth Drivers Increasing Demand for Clean Energy Sources to Boost Growth
Key Players Focus on Partnerships & New Plant Development to Intensify Competition


The Lithium Ion Battery Recycling Market research report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down methods to calculate the Lithium Ion Battery Recycling industry size.

Increasing Demand for Clean Energy Sources to Boost Growth

People nowadays are rapidly shifting towards clean power sources as they offer efficient input to various applications. Companies worldwide have surged the installation of multiple batteries for numerous electric vehicles and energy storage. This is expected to bolster the replacement of long-standing batteries with low out efficiency generating wastes. Total, for instance, announced its plan to construct a battery-based energy storage project in France in March 2020. Such initiatives are likely to accelerate the Lithium Ion Battery Recycling market growth in the upcoming years. However, the construction of new recycling facilities involves high investments, which, in turn, may hamper the demand for Lithium Ion Battery Recycling services.


Click here to get the short-term and long-term impacts of COVID-19 on this Lithium Ion Battery Recycling Market. Please visit: https://www.fortunebusinessinsights.com/industry-reports/lithium-ion-battery-recycling-market-100244


Key Players Focus on Partnerships & New Plant Development to Intensify Competition

The global Lithium Ion Battery Recycling Market houses an enormous number of large and small and medium enterprises (SMEs). Some of them are currently striving to compete with their rivals by constructing new Lithium Ion Battery Recycling plants. A few others are participating in partnerships and collaborations to jointly optimize their services. Below are the two latest industry developments:

June 2021 – Germany-based chemicals company, BASF declared to initiate construction of a new battery recycling prototype plant at the company’s Cathode Active Materials (CAM) facility site in Schwarzheide, Germany. The company targets to utilize the advanced solution and extract cobalt, manganese, lithium, and nickel from lithium-ion batteries reaching the exhaustion period.

July 2021 – Canada-based Li-Cycle confirmed to initiate a partnership agreement with Helbiz to establish sustainable recycling solutions for LIBs reaching their exhaustion period and are currently equipped across e-bikes and e-scooters.


Quick Buy -  Lithium Ion Battery Recyclin Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100244


Electric Vehicles Segment to Grow Steadily Fueled by Surging Number of Automobiles

Based on the source, the electric vehicles segment earned a significant in terms of the Lithium Ion Battery Recycling market share in 2020. This growth is attributable to the increasing number of various automobiles, such as bikes, cars, and buses. The electronics segment is predicted to hold a substantial share due to various factors such as improved profitability in recycling, disassembling of large devices, and long-standing battery installation in products.

Companies Operating in the Lithium Ion Battery Recycling Market:

  • SNAM (France)
  • Umicore (Belgium)
  • Sumitomo Metal Mining Co., Ltd. (Japan)
  • Lithion Recycling Inc. (Canada)
  • BATREC INDUSTRIE AG (Switzerland)
  • American Zinc Recycling Corp (U.S.)
  • Fortum (Finland)
  • DOWA ECO-SYSTEM Co., Ltd. (Japan)
  • Li-Cycle Corp. (Canada)
  • Neometals Ltd (Australia)
  • ACCUREC Recycling GmbH (Germany)
  • AkkuSer (Finland)
  • San Lan Technologies Co., Ltd (China)
  • Duesenfeld (Germany)
  • Glencore (Switzerland)
  • Redux GmbH (Germany)
  • uRecycle Group (Finland)
  • Retriev Technologies Inc. (Canada)

Global Lithium Ion Battery Recycling Market Segmentation:
By Chemistry

  • Lithium Cobalt Oxide (LCO)
  • Lithium Iron Phosphate (LFP)
  • Lithium Manganese Oxide (LMO)
  • Lithium Nickel Cobalt Aluminum Oxide (NCA)
  • Lithium Nickel Manganese Cobalt Oxide (NMC)

By Source

  • Electronics
  • Electric Vehicles
  • Power Tools
  • Others

By Recycling Process

  • Physical/Mechanical
  • Hydrometallurgical
  • Pyrometallurgical

By Geography:

  • North America (USA, Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)


Get your Customized Research Report of Lithium Ion Battery Recycling Market: https://www.fortunebusinessinsights.com/enquiry/customization/lithium-ion-battery-recycling-market-100244


About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs


Primary Logo

Powered by EIN News

Distribution channels: Book Publishing Industry, Business & Economy, Companies

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

Submit your press release