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The lithium-ion battery recycling market is estimated at USD 1.5 billion in 2019 at a CAGR of 8.2% from 2025 to 2030. Any of the key prospects for the lithium-ion battery recycling industry are growing investments in the production of electric cars. Some companies have been recycling lithium-ion batteries because some of the raw materials have low accessibility, such as lithium and cobalt. The power sector is seeing rapid growth in the wake of policy-level initiatives to promote renewable power generation and the massive deployment of electric vehicles leading to the need for energy storage solutions.
Advances in battery developments leading to the manufacturers' introduction of technologically improved batteries are expected to provide a huge incentive for battery recycling firms to spend and channel their money to create a revolutionary technology for battery recycling.
Due to the growth of the manufacturing industry, clean energy and EV production, Asia-Pacific is projected to lead the market in lithium-ion battery recycling during the forecast period..
Key Segments of the Global Lithium-ion Battery Recycling Market
Battery Chemistry Overview, 2018-2028 (USD Billion) (Tons)
Application Overview, 2018-2028 (USD Billion) (Tons)
Reasons for the study
What does the report include?
Who should buy this report?
For the last 10 years, the price of lithium-ion batteries has plummeted steeply. The price of a lithium-ion battery was USD 176 per kWh in 2018. The costs of lithium-ion batteries are constantly decreasing, and the price in 2018 decreased by 17.75 percent relative to the price in 2017. Lithium-ion batteries used in different applications are connected to the power industry, such as ESS and others, which in turn are expected to drive the power sector market. The two key reasons for the dramatic decrease in costs are: the continued increase in battery quality achieved by continuous R&D, aimed at improving battery materials, decreasing the quantity of non-active materials and the cost of materials, improving cell size and manufacturing production speed.
Increased production volume for end-users in the power industry, especially in China, which has helped to achieve economies of scale in the production of lithium-ion batteries, and large capacity additions, which have increased competition among manufacturers (further declining the prices, but at the expense of the profitability of the manufacturers).
These advances contribute to a sharp and sustained cost decline that is expected to help cement lithium-ion as the favoured battery chemistry in all energy storage, power industry sectors, including grid-scale, behind-the-meter storage, home storage, and micro-grids.
Battery Chemistry Segment
Based on end-use, both the size and volume of the lithium-ion battery recycling market are projected to dominate the automotive sector from 2025 to 2030 Based on end-use, the lithium-ion battery recycling market is split into two major automotive and non-automotive segments. Within a. In addition, the non-automotive sector is classified into subsegments such as manufacturing, fuel, and marine. In the global lithium-ion battery market, the automotive sector is the main segment, led by the manufacturing and power sectors. For vehicle propulsion, lithium-ion batteries are being used in large amounts. As these batteries provide high energy and power efficiency, the market for these batteries is rising and this trend is expected to continue during the forecast period.
Application analysis
Based on battery chemistry, the category of lithium nickel manganese cobalt (Li-NMC) is estimated to lead the market for lithium-ion battery recycling from 2025 to 2030 in terms of volume. During the forecast period 2025-2030, lithium-ion manganese oxide is predicted to be the highest recycled battery types on the market for lithium-ion battery recycling. One of the main factors driving the growth of the lithium-ion battery recycling market globally is the growing use of lithium-ion manganese oxide batteries for power tools, medical equipment and electric powertrains.
Traditionally, lithium-ion batteries have been used primarily in consumer electronic products such as cell phones, notebooks and PCs, but are now gradually being redesigned for use as the hybrid and full electric vehicle (EV) power source of choice, owing to considerations such as low environmental effects, as no CO2, nitrogen oxides or other greenhouse gases are released by EVs. LIB demand is driven by the advent of new and exciting markets, such as hybrid cars and energy storage systems (ESS), for both industrial and residential applications. In addition, ESS is physically and economically necessary in combination with renewables such as wind, solar, or hydro.
China is currently the biggest electric vehicle market, with the nation accounting for about 40 percent of global deliveries. China is making efforts to minimise the country's level of air pollution, and is projected to log a strong growth rate in sales of electric cars, resulting in high demand for LIB.
China is currently the largest supplier of lithium-ion batteries, mainly for electric vehicles. In China, the country's lithium production rose from 6,800 metric tonnes in 2017 to 8,000 metric tonnes in 2018. Since batteries are still related to environmental problems, the Chinese government proposes a recycling facility policy that requires the industry to set up a plant.
In addition, in August 2018, in order to promote the adoption of EVs and local development of lithium-ion batteries, the Government of India ordered an outlay of INR 5,500 crore for the second step of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) India Project. Thus, several producers of automotive parts and suppliers of power and energy solutions in India, such as Amazon and Amara Raja Batteries, have placed forward proposals to produce lithium-ion batteries locally to take advantage of the country's booming electric vehicle market.
The lithium-ion battery recycling market is estimated at USD 1.5 billion in 2019 at a CAGR of 8.2% from 2025 to 2030. Any of the key prospects for the lithium-ion battery recycling industry are growing investments in the production of electric cars. Some companies have been recycling lithium-ion batteries because some of the raw materials have low accessibility, such as lithium and cobalt. The power sector is seeing rapid growth in the wake of policy-level initiatives to promote renewable power generation and the massive deployment of electric vehicles leading to the need for energy storage solutions.
Advances in battery developments leading to the manufacturers' introduction of technologically improved batteries are expected to provide a huge incentive for battery recycling firms to spend and channel their money to create a revolutionary technology for battery recycling.
Due to the growth of the manufacturing industry, clean energy and EV production, Asia-Pacific is projected to lead the market in lithium-ion battery recycling during the forecast period..
Key Segments of the Global Lithium-ion Battery Recycling Market
Battery Chemistry Overview, 2018-2028 (USD Billion) (Tons)
Application Overview, 2018-2028 (USD Billion) (Tons)
Reasons for the study
What does the report include?
Who should buy this report?
Chapter 1 Introduction
1.1 Introduction to the Study
1.2 Market Definition and Scope
1.3 Units, Currency, Conversions and Years Considered
1.4 Key Stakeholders
1.5 Key Questions Answered
Chapter 2 Research Methodology
2.1 Introduction
2.2 Data Capture Sources
2.2.1 Primary Sources
2.2.2 Secondary Sources
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Data Triangulation
2.6 Assumptions and Limitations
Chapter 3 Executive Summary
Chapter 4 Market Outlook
4.1 Introduction
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.2.2 Opportunities
4.4 Porter’s Five Forces Analysis
4.5 PEST Analysis
4.6. Regulatory Landscape
4.7 COVID-19 Impact Analysis
Chapter 5 Lithium-ion Battery Recycling Market by Battery Chemistry
5.1 Introduction
5.1.1 Lithium-nickel Manganese Cobalt
5.1.2 Lithium-iron phosphate
5.1.3 Lithium-Manganese Oxide
5.1.4 LTO
5.1.5 NCA
5.1.6 LCO
5.1.7 Putty
5.1.8 Cast in devices
Chapter 6 Lithium-ion Battery Recycling Market by Application
6.1.1 Automotive
6.1.2 Marine
6.1.3 Industrial
6.1.1.4 Reporting and Analytics
Chapter 7 Competitive Landscape
7.1 Overview
7.2 Strategic Initiatives
7.2.1 Mergers & Acquisitions
7.2.2 New Battery Chemistry Launch
7.2.3 Investments
7.2.4 Expansion
7.2.5 Customer Targeting
Chapter 8 Company Profiles
8.1 Hilti corporation
8.1.1 Overview
8.1.2 Battery Chemistrys and Services Portfolio
8.1.3 Recent Initiatives
8.1.4 Company Financials
8.1.5 SWOT
8.2 3M
8.2.1 Overview
8.2.2 Battery Chemistrys and Services Portfolio
8.2.3 Recent Initiatives
8.2.4 Company Financials
8.2.5 SWOT
8.3 Specified Technologies
8.3.1 Overview
8.3.2 Battery Chemistrys and Services Portfolio
8.3.3 Recent Initiatives
8.3.4 Company Financials
8.3.5 SWOT
8.4 ETEX
8.4.1 Overview
8.4.2 Battery Chemistrys and Services Portfolio
8.4.3 Recent Initiatives
8.4.4 Company Financials
8.4.5 SWOT
8.5 Morgan Advanced Materials
8.5.1 Overview
8.5.2 Battery Chemistrys and Services Portfolio
8.5.3 Recent Initiatives
8.5.4 Company Financials
8.5.5 SWOT
8.6 Akzo Nobel NV
8.6.1 Overview
8.6.2 Battery Chemistrys and Services Portfolio
8.6.3 Recent Initiatives
8.6.4 Company Financials
8.6.5 SWOT
8.7 Jotun
8.7.1 Overview
8.7.2 Battery Chemistrys and Services Portfolio
8.7.3 Recent Initiatives
8.7.4 Company Financials
8.7.5 SWOT