The Lithium-ion Battery Recycling Market report is a comprehensive overview of the market’s situation thoroughly examined and compiled by Stratview Research. This new report provides past progress, current market conditions, and future prospect from the year 2022 to 2028. It also offers an accurate overview of the growth strategies, market size, mergers acquisitions, and upcoming products/services of leading key players in this market.
Market Insights
The report analyses the market thoroughly and collects data in order to offer reliable data to the users. The present report mentions that the Lithium-ion Battery Recycling Market was estimated 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.
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.
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.
COVID-19 Impact
The Covid-19 pandemic largely impacted the lithium-ion battery recycling market. This impact mainly comes from a reduced customer base for recycled batteries in the year 2020. However, the market is likely to rebound owing to the factors like growing concerns about battery waste disposal and increasing battery usage in the industrial sector.
Which region is expected to dominate the market?
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.
Top key vendors in the market:
The report mentions a list of key players in the Lithium-ion Battery Recycling Market. Some of them are mentioned below –
- 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
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