The market research report, entitled Lithium-ion Battery Recycling Market aims to help the stakeholders discover more information regarding trends in the Lithium-ion Battery Recycling Market. The report will give an overview of the detailed analysis of the correlated key players in the market, covering their competitive landscape, capacity, and latest developments like investments, expansion of capacity, technological growth, etc. Also, it covers different market segments and other factors affecting the market.
Global Lithium-ion Battery Recycling Market Forecast:
The lithium-ion battery recycling market size was valued at USD 4.14 billion in 2021 and is likely to grow at a CAGR of 19.56% during 2022-2028 to reach USD 14.49 billion in 2028.
The report is created using a few approaches that aid in analyzing the company’s strengths, overcoming weaknesses, and using opportunities to sort out the pitfalls of the market.
What is the lithium-ion battery?
The lithium-ion battery is a type of battery that can be recharged and is generally used in the manufacturing of portable electronics and electric vehicles. These batteries find major applications in industries such as the military and aerospace.
Some existing key players in the market are:
- American Manganese Inc.
- Glencore plc
- International Metals Reclamation Company, LLC
- Li-Cycle Corp.
- Neometals Ltd.
- Raw Materials Company Inc.
- Recupyl Sas
- Retriev Technologies Inc.
- Sitrasa
- Umicore
Lithium-ion Battery Recycling Market Segment Analysis:
Stratview Research’s proposed market report on Lithium-ion Battery Recycling Market contains the segment-wise current market condition. Also, it offers an estimation of future growth opportunities.
As per the report, the market is segmented by:
- By End-Use Type (Automotive, Non-Automotive),
- ByBattery Chemistry Type (Lithium-Nickel Manganese Cobalt, Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Titanate Oxide, and Lithium-Nickel Cobalt Aluminum Oxide), and by
- Region (North America, Europe, Asia-Pacific, and the Rest of the World).
COVID-19 IMPACT
While the majority of organisations had to face losses due to the pandemic, there are a few that have remained stable during this period and are projected to expand gradually in the future. The study on Lithium-ion Battery Recycling Market by Stratview Research provides a sneak peek into its business success in 2020, as well as how it will perform in and after 2021. The wide-body aircraft settles after the pandemic.
Market Dynamics
It has been observed that investments in the growth and development of electric vehicles are increasing, providing substantial growth opportunities for the lithium-ion battery recycling market. The low accessibility of some raw materials such as cobalt and lithium has become an important factor for most companies, so they have started recycling lithium-ion batteries.
Sneak peek into the Report:
This report discusses about the various challenges, segments, and growth in the Lithium-ion Battery Recycling Market. It offers valuable insights into business dynamics and allows current and potential market participants to make strategic decisions.
The report also benchmarks the major parameters like –
- Industry Outlook
• Market Segmentation & Value Chain Analysis
• Industry Dynamics
• Drivers
• Restraints
• Key Opportunities
• Application Outlook
• Technology Outlook
• Regional Outlook
• Country-level Analysis
• Competitive Landscape
• Company Market Share Analysis
• Key Company Profiles/ Market Players
Segment Analysis
Based on the end-use type, the market is segmented as automotive and non-automotive. Automotive is estimated to be the dominant segment of the lithium-ion battery market, in terms of both value and volume, during the forecast period.
The non-automotive segment is further segmented as power, industrial, and marine. Automotive is expected to be the more significant segment of the market globally, and in the industrial and power segments as well. Lithium-ion batteries are being heavily used for the propulsion of automobiles and offer excellent features such as high energy and power density. The demand for these batteries is growing which is fueling the market growth during the forecast period.
Based on the battery chemistry type, the market is segmented as lithium-nickel manganese cobalt, lithium-iron phosphate, lithium-manganese oxide, lithium-titanate oxide, and lithium-nickel cobalt aluminum oxide. Lithium-nickel manganese cobalt is estimated to be the leading segment of the market, in terms of volume, during the forecast period.
On the other hand, lithium-ion manganese oxide is projected to be the highest-recycled battery type and has an increasing number of implementations for the manufacturing of power tools, medical devices, and electric powertrains which is one of the major factors fueling the market growth across the world.
In terms of regions, North America is estimated to be the leading region in the market during the forecast period, with the US and Canada being the major countries with lucrative growth opportunities.
The Environment Protection Agency has implemented strict rules and regulations about air emission standards in the region, which in turn, is increasing the demand for the market in North America during the forecast period. Asia-Pacific and Europe are also expected to offer substantial growth opportunities during the forecast period.
Customization of Reports
Stratview Research also provides solutions to custom research requirements for market evaluation, competitive benchmarking, sourcing and procurement, target screening, and other services across sectors with this thorough review.
Research Methodology
Stratview Research’s report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
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