The Lithium-Ion Battery Recycling Market is projected to be Led by the Automotive Industry Until the Year 2028
Lithium-Ion Battery Recycling Market will rise due to increased
demand for electric vehicles (EVs) and increased awareness about environmental sustainability.
According to
TechSci Research report, “Lithium-Ion Battery Recycling Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F.”, Lithium-ion battery recycling
refers to the gathering of lithium-ion batteries from diverse sources such as
automotive, industrial, consumer, and electronics equipment, as well as the
recovery of metals through recycling operations. The global market estimate
includes income generated from the sale of recovered metals or elements,
whether they are used in further battery recycling or other secondary uses.
According to reports, many metals collected are exclusively used in battery
manufacturing. Government regulations, environmental safety, and public
awareness are projected to fuel expansion in the worldwide Lithium-Ion Battery
Recycling Market. Nevertheless, incorrect separation of hazardous compounds
used in batteries, faulty dismantling, and inappropriate shredding are
projected to stifle growth in the lithium-ion battery recycling market during
the forecast period. Aspects such as the battery's attractive appearance and
ease of installation.
Lithium-ion battery recycling
refers to the gathering of lithium-ion batteries from diverse sources such as
automotive, industrial, consumer, and electronic equipment, as well as the
recovery of metals through recycling operations. The global market estimate
includes income generated from the sale of recovered metals or elements,
whether they are used in further battery recycling or other secondary uses.
According to reports, major metals collected are exclusively used in battery
manufacture. Government regulations, environmental safety, and public awareness
are projected to fuel expansion in the worldwide Lithium-Ion Battery Recycling
Market. Nevertheless, incorrect separation of hazardous compounds used in
batteries, faulty dismantling, and inappropriate shredding are projected to
stifle growth in the Lithium-Ion Battery Recycling Market during the forecast
period. The global market is anticipated to experience different growth
opportunities due to the attractive visual profile and easy installation of
batteries, as well as the protective layers which reduce the risk of fire and
short circuiting. The raw materials used in the production of lithium-ion
batteries are cost-effective; however, the recycling of these batteries is
costly. This, combined with a lack of a stable supply chain and low yield of
the raw materials, is predicted to impede the growth of the market over the
coming years.
Browse over XX market data
Figures spread through XX Pages and an in-depth TOC on the "Global Lithium-Ion Battery Recycling Market."
The Lithium-Ion Battery
Recycling market can be segmented by industry, technology and region.
Based on Industry, the
market is segmented into automotive, marine,
power and others.
Automotive is expected
to dominate the market in the forecasting period. Substantial expenditures
by automakers in increasing vehicle efficiency and performance are key drivers
of market revenue growth in this sector. Several automakers, including General
Motors, have stated their intention to offer solely electric vehicles by 2035.
Furthermore, groups such as the International Energy Association have
prioritized electric cars in their objective of attaining net zero emissions by
2050. This is yet another critical factor driving market revenue growth in this
sector. Businesses in the market are recognizing the benefits of recycling
lithium-ion batteries. For example, recycling batteries and developing the
Lithium-Ion Battery Recycling Market.
Based on Technology, the
market is segmented into hydrometallurgical process, pyrometallurgy process, physical/mechanical process. Due to enhanced health
and environmental advantages, the hydrometallurgical process segment
contributed for a large revenue share. Hydrometallurgy is regarded as a more
environmentally and health-friendly technology than pyrometallurgy. It allows
for more element recovery with a better purity grade, less energy usage, and no
air emissions.
Thermal pre-treatment,
on the other hand, aids in the separation of battery components, simplifies the
discharging process, and may be used to remove carbon and organic compounds and
dissolve PVDF binder, although it necessitates gas treatment. Due to multiple
benefits of recycling technologies such as hydrometallurgical and
pyrometallurgical, market businesses are integrating these processes.
Furthermore, such coupled methods seek to minimize energy and reagent use while
enhancing efficiency and providing exciting application opportunities.
The market analysis
studies the regional segmentation to devise regional market segmentation,
divided among North America, Europe, Asia-Pacific, South America, and Middle
East & Africa.
Key market players in the Global
Lithium-Ion Battery Recycling Market include:
·
Green Technology Solutions, Inc
·
Li-Cycle Technology
·
Glencore PLC
·
Recupyl Sas
·
Umicore SA
·
American Manganese
·
Metal Conversion Technologies LLC
·
Retriev Technologies Inc
·
Raw Materials Company
·
TES-AMM Pte Ltd
Download Sample Report
Customers can also request
10% free customization on this report.
“The increasing demand for
electric vehicles and renewable energy storage systems has led to a rapid
expansion of the lithium-ion battery industry, which has raised concerns about
resource depletion and environmental impact. However, recycling technologies
have advanced to the point where the extraction and reuse of valuable metals
such as lithium, cobalt, and nickel from used batteries are becoming
increasingly cost-effective and environmentally sustainable. Battery
recycling is critical to ensuring a sustainable future for electric vehicles
and energy storage systems. The extraction and reuse of valuable metals can
significantly reduce reliance on mining and lower the environmental impact of
battery production. Additionally, recycling provides a cost-effective and reliable
supply of battery materials that can reduce the overall costs of battery
production. The Global Lithium-Ion Battery Recycling Market is poised for
significant growth as the demand for electric vehicles and energy storage
system continues to increase. As recycling technologies continue to advance,
and government support for battery recycling policies expands, the market is
expected to become increasingly important for the growth of the electric
vehicle and renewable energy industries.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Lithium-Ion Battery Recycling Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Industry (Automotive, Marine, Power, Others), By Technology
(Hydrometallurgical Process, Pyrometallurgy Process, Physical/Mechanical
Process), By Region” has
evaluated the future growth potential of Lithium-Ion Battery Recycling and
provides statistics and information on market structure, size, share, and
future growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in the global Lithium-Ion Battery Recycling market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com