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Lithium-Ion Battery Recycling Market Report Coverage

Lithium-Ion Battery Recycling Market

Base Year

2022

Market Size in 2023

$3.54 Billion

Forecast Period

2023-2033

Value Projection and Estimation by 2033

$23.96 Billion

CAGR During Forecast Period

21.08%

Number of Pages

178

 

Key Market Players and Competition Synopsis

The companies that are profiled in the lithium-ion battery recycling market report have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some of the prominent recyclers in the lithium-ion battery recycling industry are:

•    ACCUREC-Recycling GmbH
•    American Battery Technology Company
•    Cirba Solutions
•    Contemporary Amperex Technology Co., Limited
•    Duesenfeld
•    ECOBAT
•    Fortum
•    Ganfeng Lithium Co., Ltd.
•    Glencore plc
•    Li-Cycle Corp.
•    Neometals Ltd
•    RecycLiCo Battery Materials Inc.
•    Redwood Materials Inc.
•    Sumitomo Metal Mining Co., Ltd.
•    Umicore

Companies that are not a part of the aforementioned pool have been well represented across different sections of the report (wherever applicable).

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different applications of the lithium-ion battery recycling products available based on battery chemistry (lithium-cobalt oxide (LCO), lithium-nickel manganese cobalt (Li-NMC), lithium-iron phosphate (LFP), lithium-manganese oxide (LMO), lithium-nickel cobalt aluminum oxide (NCA), and others), source (automotive and non-automotive), recycling process (hydrometallurgy, pyrometallurgy, and direct recycling). The market is poised for significant expansion with ongoing technological advancements, increased investments, and growing awareness of the importance of recycling. Therefore, the lithium-ion battery recycling business is a high-investment and high-revenue generating model.

Growth/Marketing Strategy: The lithium-ion battery recycling market has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include product development.

Competitive Strategy: The key players in the lithium-ion battery recycling market analyzed and profiled in the study include lithium-ion battery recycling manufacturers that develop, maintain, and market lithium-ion battery recycling materials. Additionally, corporate strategies such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.

Research Methodology

Factors for Data Prediction and Modeling

•    The scope of this report has been focused on lithium-ion battery recycling applications and products.
•    The base currency considered for the market analysis is US$. Currencies other than the US$ have been converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year.
•    The currency conversion rate has been taken from the historical exchange rate of the Oanda website. 
•    Nearly all the recent developments from January 2020 to October 2023 have been considered in this research study.
•    The information rendered in the report is a result of in-depth primary interviews, surveys, and secondary analysis.
•    Where relevant information was not available, proxy indicators and extrapolation were employed.
•    Any economic downturn in the future has not been taken into consideration for the market estimation and forecast.
•    Technologies currently used are expected to persist through the forecast with no major breakthroughs in technology.

Market Estimation and Forecast

This research study involves the usage of extensive secondary sources, such as certified publications, articles from recognized authors, white papers, annual reports of companies, gold and silver standard websites, directories, and major databases, to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the lithium-ion battery recycling market.

The process of market engineering involves the calculation of the market statistics, market size estimation, market forecast, market crackdown, and data triangulation (the methodology for these quantitative data processes is explained in further sections). The primary research study has been undertaken to gather information and validate the market numbers for segmentation types and industry trends of the key players in the market.

Primary Research

The primary sources involve industry experts from the lithium-ion battery recycling market and various stakeholders in the ecosystem. Respondents such as CEOs, vice presidents, marketing directors, and technology and innovation directors have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study.

The key data points taken from primary sources include:

•    validation and triangulation of all the numbers and graphs
•    validation of reports segmentation and key qualitative findings
•    understanding the competitive landscape
•    current and proposed production by market players
•    validation of the numbers of markets by segmentations
•    percentage split of individual markets for regional analysis

Secondary Research

This research study involves the usage of extensive secondary research, directories, company websites, and annual reports. It also makes use of databases, such as Hoovers, Bloomberg, Businessweek, and Factiva, to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global market. In addition to the aforementioned data sources, the study has been undertaken with the help of other data sources and websites, such as IRENA and IEA.

Secondary research was done in order to obtain crucial information about the industry’s value chain, revenue models, the market’s monetary chain, the total pool of key players, and the current and potential use cases and applications.

The key data points taken from secondary research include:

•    segmentations and percentage shares
•    data for market value
•    key industry trends of the top players of the market
•    qualitative insights into various aspects of the market, key trends, and emerging areas of innovation
•    quantitative data for mathematical and statistical calculations

 

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Lithium-Ion Battery Recycling Market

A Global and Regional Analysis, 2023-2033

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Some Faq's

Frequently Asked Questions

The market study conducted by BIS Research has considered the definition of lithium-ion battery recycling to be the process of recovering and reusing materials from spent or end-of-life lithium-ion batteries to extract valuable metals and components. This process aims to mitigate environmental impact, conserve resources, and create a more sustainable supply chain for materials used in battery production. Lithium-ion battery recycling helps reduce the demand for raw materials, lessen the environmental impact associated with mining, and address concerns about the disposal of hazardous materials found in batteries. It promotes a circular economy by reintroducing recovered materials back into the supply chain, reducing waste, and conserving resources.

The key business opportunities in the lithium-ion battery recycling market are generating lithium hydroxide and creating circular value, i.e., making batteries from recyclable materials.

The lithium-ion battery recycling market is poised to grow over time, compelling companies to come up with collaborative strategies to sustain themselves in the intensely competitive market. Companies with an identical product portfolio with a need for additional resources often partner and come together for joint venture programs, which help the companies gain access to one another’s resources and facilitate them to achieve their objectives faster.

A new entrant can focus on partnering with existing lithium-ion battery recycling manufacturers. Also, start-ups can focus on funding, launching new innovative products, and expanding their sales and distribution networks.

Lithium-ion batteries can be recycled by key three processes including hydrometallurgy, pyrometallurgy, and direct recycling. Direct recycling is least preferred method now a days. Hydrometallurgy recycling process is used widely owing to lower costs as compared to pyrometallurgy.

The following are some of the USPs of this report:

•    A dedicated section focusing on the trends adopted by the key players operating in the lithium-ion battery recycling market
•    Competitive landscape of the companies operating in the ecosystem offering a holistic view of the lithium-ion battery recycling market landscape 
•    Qualitative and quantitative analysis of the lithium-ion battery recycling market at the region and country level and granularity by application and product segments
•    Patent analysis
•    Supply chain and value chain analysis
•    Stakeholder analysis 
•    Start-up landscape provided
•    Global pricing analysis

Lithium-ion battery recycling manufacturers, raw material suppliers, consumer electronics manufacturers, and electric vehicle original equipment manufacturers (OEMs) can buy this report.