The need for recycling these batteries is expected to drive the global lithium-ion battery recycling market over the forecast period
The market for the lithium-ion battery recycling market is to projected to grow from USD 12.2 billion in 2025. In the latter part of the forecast period, the lithium-ion battery (LIB) recycling market is expected to dominate the global battery recycling market for different types of battery recycling technology, largely due to the need for and capability of lithium-ion batteries, such as a favorable capacity-to-weight ratio. In addition, growing issues about the management of battery waste and strict government policies clubbed with the rise in lithium-ion battery use due to decreased lithium-ion battery costs and increasing acceptance of electric vehicles are expected to push the recycling demand for lithium-ion batteries during the forecast timeframe.
However, raw materials for the manufacture of lithium-ion batteries are available at a low cost, although recycling rates are high. High prices, along with the lack of a good supply chain and poor battery recycling yield, are likely to hamper the development of the demand for battery recycling during the forecast era.
The North America region is expected to lead the lithium-ion battery recycling industry in terms of both value and volume from 2025 to 2030. The US and Canada are the major lithium-ion battery recycling markets in the North American area. Demand for lithium-ion battery recycling is the highest in this field, and this trend is expected to continue over the 2019-2024 and 2025-2030 forecast period. This rise can be partly due to the strict regulations enforced by the Environmental Protection Agency (EPA) on air quality standards in the area. Core strategies such as company expansion and product growth have been embraced by major players operating in the global lithium-ion battery recycling industry to improve their market outreach and sustain stiff competition in the sector. Increasing spending in services is projected to have a negative effect on demand in developing countries, including Germany and France. Given regulatory support to encourage domestic investment, the positive outlook for China and India's manufacturing industries is projected to play a crucial role in advancing market growth for smart recycling of lithium-ion batteries..
Key Segments of the Global Lithium-ion Battery Recycling Market
Battery Chemistry Overview, 2018-2028 (USD Billion) (Tons)
- Lithium-nickel Manganese Cobalt
- Lithium-iron phosphate
- Lithium-Manganese Oxide
Application Overview, 2018-2028 (USD Billion) (Tons)
Regional Overview, 2018-2028 (USD Billion) (Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America