Lithium-ion Battery Recycling Market - Forecast(2021 - 2026)

Report Code: CMR 52597 Report Format: PDF + Excel (Delivery in 48 Hrs)

Lithium-ion Battery Recycling Market Overview

Lithium-ion Battery Recycling Market size is forecast to reach US$10.7 billion by 2026, after growing at a CAGR of 24.8% during 2021-2026. The Lithium-ion battery recycling market is influenced by rising demand for electric as well as hybrid electric vehicles, where Lithium-ion batteries are used extensively. The adoption of these vehicles results in a price hike of battery materials such as cobalt and lithium, thus making recycling of Lithium-ion battery industries more profitable. In addition, limited availability of the raw materials used in Lithium-ion battery manufacturing and high demand from various end-use industries fuels the market for Lithium-ion battery recycling. However, low cost sodium ion batteries are in development and although they produce lower power when compared with lithium ion batteries, they are safer to use. In addition, multivalent batteries such as AI3+ are currently under research and are cheaper to manufacture. These products may hamper recycled lithium ion batteries demand.  

COVID-19 Impacts
However, operations in various industries such as electronics, automotive, power, and so on have been significantly affected due to the COVID-19 epidemic, as most countries have issued “stay at home guidance” i.e., lockdown. The operations of these industries have been halted and are facing issues such as late delivery and increased import-export tariff due to strict movement restriction, which is heavily affecting the Lithium-ion battery recycling market growth.

Lithium-ion Battery Recycling Market Report Coverage

The report: “Lithium-ion Battery Recycling Market– Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Lithium-ion Battery Recycling Industry. 
By Recycling by Chemistry: Lithium-Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium-Manganese Oxide (LMO), Lithium-Nickel Cobalt Aluminum Oxide (NCA), Lithium-Nickel Manganese Cobalt (Li-NMC), and others (Lithium-Titanate Oxide (LTO) and others).
By Process: Hydrometallurgical Process, Pyrometallurgy Process, Physical/Mechanical Process and others.
By Source of Scrap Batteries: Electronics, Automotive, Power, Industrial and others.
By Geography: North America (USA, Mexico, and Canada), Europe (U.K, Germany, Italy, France, Netherlands, Belgium, Denmark, Spain, Rest of Europe), APAC (China, South Korea, Japan, India, Australia & New Zealand, Rest of APAC), and RoW (South America, Middle East, Africa).

Key Takeaways

  • Asia-Pacific dominates the global Lithium-ion Battery Recycling market, owing to increasing government regulations and established Lithium-ion battery manufacturers in the region. As per Recycling International, 67,000 tons of lithium ion batteries were recycled in China and about 18,000 tones in South Korea in 2018. 
  • According to forecast by the International Energy Agency, electric car deployment has been growing rapidly over the past ten years, with the global stock of electric passenger cars passing 5 million in 2018, an increase of 63% from the previous year. This is influencing Lithium-ion battery recycling market growth. 
  • The automotive sector is moving towards eco-friendly side. For instance, Mexico’s climate legislation targets emissions cuts of 50% by 2050 (from 2000 levels) and 35% renewable energy by 2024. Mexico City’s overall goal is to reduce emissions by up to 30% (8 to 10 million tons of CO2) from business as usual between 2014 and 2020. This will further support Lithium-ion battery recycling market growth.

Figure: Global Lithium-ion Battery Recycling Market Revenue Share by Region, 2020 (%)


Lithium-ion Battery Recycling Market Segment Analysis – By Recycling by Chemistry 

Lithium-Cobalt Oxide (LCO) held the largest share in the Lithium-ion battery recycling market in 2020 and is forecasted to grow at a CAGR of 20.1% during the forecast period. The Lithium-Cobalt Oxide batteries have very stable capacities. The thermal stability issues are better for Lithium-Cobalt Oxide than other chemistries, owing to this its demand is high. Its high specific energy makes Li-cobalt the popular choice for mobile phones, laptops and digital cameras. The LCO battery consists of a cobalt oxide cathode and a graphite carbon anode. The cathode material contains 60% cobalt and accounts for 50% of the weight of the cathode. 

Lithium-ion Battery Recycling Market Segment Analysis – By Process

Pyrometallurgy Process dominated the Lithium-ion battery recycling market in 2020 and is forecasted to grow at a CAGR of 27.1% during the forecast period. Using this process, cobalt, nickel and copper are recovered effectively, whereas lithium and aluminum are lost in slag. The pyrometallurgical processes are often coordinated with hydrometallurgical processes to recycle the valuable metals. The demand of pyrometallurgical processes for recycling lithium ion batteries is high. 

Lithium-ion Battery Recycling Market Segment Analysis – By Source of Scrap Batteries

Electronics segment was the major Lithium-ion battery recycling market in 2020 and is forecasted to grow at a CAGR of 14.9% during the forecast period. Lithium-ion batteries are widely used in electronic devices such as laptops, cell phones and power tools due to which the growth of electronic devices leads to growth in usage of Lithium-ion batteries which further drives the Lithium-ion battery recycling market. One of the major reasons for need to the recycle Lithium-ion batteries in electronics is that modern electronics contain circuit boards that smolder together various metals and plastics. Some of these materials are toxic and there is a need to keep those toxins out of landfills, where they can contaminate the soil and water. Hence recycling of Lithium-ion batteries protects environment and lowers the cost of manufacturing new products. Recycling of Lithium-ion batteries is highly efficient as they offer a large amount of energy in a tiny package which helps to keep electronic like phone or laptop running all day. According to international trade statistics, global sales from cellphone exports by country totaled US$288.9 billion in 2018. Hence, rise in exports of electronics like cellphones leads to increase in usage of Lithium-ion batteries which in turn drives the Lithium-ion battery recycling market.

Lithium-ion Battery Recycling Market Segment Analysis – By Geography 

APAC dominated the Lithium-ion Battery Recycling market with a share of approximately 73% in 2020 and is anticipated to grow at a CAGR of 23.1% through the forecast period. Established Lithium-ion battery manufacturers in the region, in China, and government regulations under which manufacturers are responsible for setting up collection and recycling facilities for spent batteries are fueling the Lithium-ion battery recycling market in the region. According to the studies of CSIRO (Commonwealth Scientific and Industrial Research Organisation), Australian lithium ion battery (LIB) waste is growing at a rate of over 20 % per annum as a direct reaction to the increasing demand and interest in portable and rechargeable electronic equipment and electric vehicles. Therefore, a group of battery manufacturers, recyclers, retailers, government bodies and conservation organizations have founded the Australian Battery Recycling Initiative (ABRI) to promote the collection, recycling, and safe disposal of all batteries. In 2018, 1.29 billion Lithium-ion batteries were produced domestically, up from 760 million in 2003, according to Japan's Tokyo-based Battery Association. Therefore, owning to these factors APAC dominates the market.

Lithium-ion Battery Recycling Market Drivers

Increasing Government Regulations and Policies to Promote and Encourage more Recycling and Reuse Of Li-Ion Batteries

The occurrence of different potential environmental as well as human health impacts of Lithium-ion batteries has led the various health authorities to propose stringent government regulations and policies to promote and encourage more Li-ion battery recycling and re-use. In order to curb these issues, various governments have taken several initiatives.  For instance, in Germany, the law has mandated that the expired batteries be submitted to the designated stores for recycling. In addition, in September 2015 China released its regulations on the Recycling of Motive Lithium-ion Batteries, which encourage Evs (Electric Vehicles) manufacturers to set up their own Li-ion battery recycling infrastructure. The European Union adopted the Battery Directive in 2006, which is intended to control and recycle the batteries in general. The Battery Directive is intended to help the EU to protect, and preserve the environment by minimizing the negative impact of waste batteries. According to the European Portable Battery Association (EPBA), the batteries obtained are recycled to reuse and recover contained metals, instead of disposing of them. These trends are helping the major players in the market to establish a strong foothold over the market. 

Limited Raw Materials Availability and High Lithium-Ion Battery Demand

Raw materials used to manufacture Lithium-ion battery are limited, in comparison to its demand from different end-use industries such as automotive, power, and consumer electronics, among others. Furthermore, the materials used in the batteries are hazardous to the environment. Recycling of Lithium-ion batteries will allow better and long-term usage thereby controlling the manufacturing process resulting in lower carbon-dioxide emissions. Therefore, these factors are driving the lithium- ion battery recycling market 

Lithium-ion Battery Recycling Market Challenges

Recycling Infrastructure Set Up is Capital Intensive

Li-ion battery recycling comes in with its own set of challenges. The main issue is that the recycling of batteries requires expensive infrastructure and sophisticated equipment to enable the process to extract and treat the emissions. The operations are high cost, energy-intensive and may not recover all valuable materials. In addition to Li-ion batteries, a battery often carries components that need to be tackled, e.g., sensors, safety devices, and circuit control, adding another layer of cost and complexity to the recycling process. Such factors thus serve as an obstacle for the demand for recycled li-ion batteries.  

Drawbacks of Lithium Batteries and Availability of Alternatives

Some of the drawbacks, such as overheating lithium batteries, pose a threat to industrial safety along with the inadequate charging infrastructure and various options for lithium batteries such as hydrogen fuel cells, ammonia-powered batteries and others on the market may hinder the market. In addition, safety issues related to the storage and transport of spent batteries pose limitations in the market.

Lithium-ion Battery Recycling Market Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Lithium-ion Battery Recycling Market. The key players in the Lithium-ion Battery Recycling Market includes Shenzhen Green Eco-manufacturer Hi-Tech Co. (GEM), Valdi (ERAMET), Umicore Battery Recycling, JX Nippon Mining and Metals Co., Accurec Recycling GmbH, among others.  

Joint Ventures/Product Launches

  • In December 2019, Umicore and Audi collaborated to reduce the electric battery waste and recover the cobalt and nickel being used. These metals can again be used to make new battery cells.
  • In September 2019, ERAMET, BASF and SUEZ, founded a Li-ion battery recycling project and received funding from EU. Batteries from Electric vehicles are to be recycled by a closed loop process. The project is called ReLieVe project (Recycling Li-ion Batteries for Electric Vehicle). 

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1. Lithium-ion Battery Recycling Market- Market Overview
    1.1 Definitions and Scope 
2. Lithium-ion Battery Recycling Market - Executive Summary
    2.1 Key Trends by Recycling by Chemistry
    2.2 Key Trends by Process
    2.3 Key Trends by Source of Scrap Batteries
    2.4 Key Trends by Geography
3. Lithium-ion Battery Recycling Market – Comparative analysis 
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Lithium-ion Battery Recycling Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Lithium-ion Battery Recycling Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Lithium-ion Battery Recycling Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Lithium-ion Battery Recycling Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies 
8. Lithium-ion Battery Recycling Market – By Recycling by Chemistry (Market Size -$Million/Billion)
    8.1 Lithium-Cobalt Oxide (LCO) 
    8.2 Lithium Iron Phosphate (LFP) 
    8.3 Lithium-Manganese Oxide (LMO) 
    8.4 Lithium-Nickel Cobalt Aluminum Oxide (NCA) 
    8.5 Lithium-Nickel Manganese Cobalt (Li-NMC) 
    8.6 Others (Lithium-Titanate Oxide (LTO) and others) 
9. Lithium-ion Battery Recycling Market – By Process (Market Size -$Million/Billion)
    9.1 Hydrometallurgical Process
    9.2 Pyrometallurgy Process
    9.3 Physical/Mechanical Process
    9.4 Others 
10. Lithium-ion Battery Recycling Market – By Source of Scrap Batteries (Market Size -$Million/Billion)
    10.1 Electronics
    10.2 Automotive
    10.3 Power
    10.4 Industrial
    10.5 Others
11. Lithium-ion Battery Recycling Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 Italy
        11.2.4 France
        11.2.5 Netherlands
        11.2.6 Belgium
        11.2.7 Denmark
        11.2.8 Spain
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 South Korea
        11.3.3 Japan
        11.3.4 India
        11.3.5 ANZ
        11.3.6 Rest of APAC
    11.4 Rest of the World
        11.4.1 South America
        11.4.2 Middle East 
        11.4.3 Africa
12. Lithium-ion Battery Recycling Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Lithium-ion Battery Recycling Market – Market Share Analysis Premium
    13.1 Market Share at Global Level - Major companies
    13.2 Market Share by Key Region - Major companies
    13.3 Market Share by Key Country - Major companies
    13.4 Market Share by Key Application - Major companies
    13.5 Market Share by Key Product Type/Product category - Major companies
14. Lithium-ion Battery Recycling Market – Key Company List by Country Premium Premium
15. Lithium-ion Battery Recycling Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Accurec Recycling GmbH
    15.2 AkkuSer Oy
    15.3 Anhua Taisen Recycling Technology Co. LTD.
    15.4 OnTo Technology, LLC
    15.5 EURO DIEUZE INDUSTRIE
    15.6 Dowa Eco-System Co. Ltd.
    15.7 Sumitomo Metal Mining Co., Ltd.
    15.8 Recupyl SAS
    15.9 Retriev Technologies
    15.10 JX Nippon Mining & Metals Corporation
    15.11 GEM Co. Ltd.
    15.12 TES Pte Ltd.
    15.13 Umicore
    15.14 Valdi (ERAMET Group)
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Lithium-Ion Battery Recycling Market By Technology Market 2019-2024 ($M)
1.1 Recycling Technologies Used Across Regions Market 2019-2024 ($M) - Global Industry Research
2.Global Lithium-Ion Battery Recycling Market By Industry Market 2019-2024 ($M)
2.1 Automotive Market 2019-2024 ($M) - Global Industry Research
2.2 Marine Market 2019-2024 ($M) - Global Industry Research
2.3 Industrial Market 2019-2024 ($M) - Global Industry Research
2.4 Power Market 2019-2024 ($M) - Global Industry Research
3.Global Lithium-Ion Battery Recycling Market By Technology Market 2019-2024 (Volume/Units)
3.1 Recycling Technologies Used Across Regions Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Lithium-Ion Battery Recycling Market By Industry Market 2019-2024 (Volume/Units)
4.1 Automotive Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Marine Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Industrial Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Power Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Lithium-Ion Battery Recycling Market By Technology Market 2019-2024 ($M)
5.1 Recycling Technologies Used Across Regions Market 2019-2024 ($M) - Regional Industry Research
6.North America Lithium-Ion Battery Recycling Market By Industry Market 2019-2024 ($M)
6.1 Automotive Market 2019-2024 ($M) - Regional Industry Research
6.2 Marine Market 2019-2024 ($M) - Regional Industry Research
6.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
6.4 Power Market 2019-2024 ($M) - Regional Industry Research
7.South America Lithium-Ion Battery Recycling Market By Technology Market 2019-2024 ($M)
7.1 Recycling Technologies Used Across Regions Market 2019-2024 ($M) - Regional Industry Research
8.South America Lithium-Ion Battery Recycling Market By Industry Market 2019-2024 ($M)
8.1 Automotive Market 2019-2024 ($M) - Regional Industry Research
8.2 Marine Market 2019-2024 ($M) - Regional Industry Research
8.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
8.4 Power Market 2019-2024 ($M) - Regional Industry Research
9.Europe Lithium-Ion Battery Recycling Market By Technology Market 2019-2024 ($M)
9.1 Recycling Technologies Used Across Regions Market 2019-2024 ($M) - Regional Industry Research
10.Europe Lithium-Ion Battery Recycling Market By Industry Market 2019-2024 ($M)
10.1 Automotive Market 2019-2024 ($M) - Regional Industry Research
10.2 Marine Market 2019-2024 ($M) - Regional Industry Research
10.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
10.4 Power Market 2019-2024 ($M) - Regional Industry Research
11.APAC Lithium-Ion Battery Recycling Market By Technology Market 2019-2024 ($M)
11.1 Recycling Technologies Used Across Regions Market 2019-2024 ($M) - Regional Industry Research
12.APAC Lithium-Ion Battery Recycling Market By Industry Market 2019-2024 ($M)
12.1 Automotive Market 2019-2024 ($M) - Regional Industry Research
12.2 Marine Market 2019-2024 ($M) - Regional Industry Research
12.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
12.4 Power Market 2019-2024 ($M) - Regional Industry Research
13.MENA Lithium-Ion Battery Recycling Market By Technology Market 2019-2024 ($M)
13.1 Recycling Technologies Used Across Regions Market 2019-2024 ($M) - Regional Industry Research
14.MENA Lithium-Ion Battery Recycling Market By Industry Market 2019-2024 ($M)
14.1 Automotive Market 2019-2024 ($M) - Regional Industry Research
14.2 Marine Market 2019-2024 ($M) - Regional Industry Research
14.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
14.4 Power Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
2.Canada Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
3.Mexico Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
4.Brazil Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
5.Argentina Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
6.Peru Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
7.Colombia Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
8.Chile Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
9.Rest of South America Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
10.UK Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
11.Germany Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
12.France Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
13.Italy Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
14.Spain Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
15.Rest of Europe Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
16.China Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
17.India Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
18.Japan Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
19.South Korea Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
20.South Africa Lithium-ion Battery Recycling Market Revenue, 2019-2024 ($M)
21.North America Lithium-ion Battery Recycling By Application
22.South America Lithium-ion Battery Recycling By Application
23.Europe Lithium-ion Battery Recycling By Application
24.APAC Lithium-ion Battery Recycling By Application
25.MENA Lithium-ion Battery Recycling By Application
26.Umicore, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Glencore, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Retriev Technologies, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Raw Materials Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.International Metals Reclamation Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Metal Conversion Technologies, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.American Manganese, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Sitrasa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.TES-AMM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Li-Cycle Technology, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Neometals, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Recupyl Sas, Sales /Revenue, 2015-2018 ($Mn/$Bn)