Lithium-Ion Battery Recycling Market Growth and Forecast Report, 2030

Lithium-Ion Battery Recycling Market To Generate $991.5 Million Revenue by 2030

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The global lithium-ion battery recycling market revenue stood at $161.4 million in 2020, and it is predicted to surge to $991.5 million by 2030. Furthermore, the market will demonstrate a CAGR of 19.9% from 2020 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. The market is being driven by the burgeoning requirement for electric vehicles and the limited availability of the lithium metal across the world.

The mushrooming use of lithium in various industries is augmenting the requirement for lithium mining, which is creating concerns, owing to the limited availability of the metal all over the world. Moreover, lithium mining causes environmental damage, because of extensive chemical leakage. Owing to these factors, the popularity of lithium-ion battery recycling is soaring. Additionally, recycling assists manufacturers in ensuring that only required quantity of lithium is used in batteries and other applications.

Apart from the aforementioned factor, the ballooning deployment of electric vehicles is also fueling the expansion of the lithium-ion battery recycling market.

As per the Sustainable Development Scenario of the International Energy Agency (IEA), the total number of electric vehicles (excluding three- and two-wheelers) will rise to 245 million units by 2030, which is expected to promote the recycling of lithium-ion batteries so that their worldwide requirement can be met.

Browse full report at: https://www.psmarketresearch.com/marketanalysis/lithium-ion-battery-recycling-market Depending on battery type, the lithium-ion battery recycling market is classified into lithium-ferro phosphate (LFP), lithium-cobalt (LCO), lithium-nickel-cobaltaluminum oxide (NCA), lithium-ion-manganese oxide (LMO), and lithium-nickelmanganese-cobalt oxide (NMC). Out of these, the LCO category dominated the market in 2020 and this trend is expected to continue in the coming years as well. This will be because of the soaring use of LCO batteries in various portable electronics, such as tablets, mobile phones, and laptops, due to their high energy density.

When end user is taken into consideration, the lithium-ion battery recycling market is categorized into electrical and electronics, power, and automotive.

Amongst these, the automotive category contributed the highest revenue to the market, and it is expected to register the fastest growth in the market during the forecast period as well. This will be because of the surging need for lithium-ion battery recycling, owing to the mushrooming adoption of electric cars across the globe and the limited availability of the lithium metal.

Globally, Asia-Pacific held the largest share in the lithium-ion battery recycling market in the years gone by and it is predicted to retain its dominance throughout the forecast period as well. This is credited to the large-scale

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deployment of electric cars, which is driving the demand for recycled old batteries in order to meet the soaring requirement for these energy devices in the region. Additionally, the rising public awareness about the various environmental benefits of electric cars is also propelling the growth rate of the market in the region.

Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/lithium-ionbattery-recycling-market/report-sample Hence, it can be safely said that the demand for lithium-ion battery recycling will skyrocket in the coming years, mainly because of the mushrooming adoption of electric vehicles and the limited availability of lithium across the world.

Market Segmentation by Battery Type •

Lithium Cobalt Oxide (LCO)

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Lithium Iron Phosphate (LFP)

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Lithium-Ion Manganese Oxide (LMO)

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Lithium Nickel Cobalt Aluminum Oxide (NCA)

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Lithium Nickel Manganese Cobalt Oxide (NMC)

Market Segmentation by End User •

Automotive

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Power

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Electrical & Electronics

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Others (Industrial Automation, Telecom, and Data Centers)

Market Segmentation by Region •

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•

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North America Lithium-Ion Battery Recycling Market o

By battery type

o

By end user

o

By country – U.S. and Canada

Europe Lithium-Ion Battery Recycling Market o

By battery type

o

By end user

o

By country – Germany, U.K., France, Italy, and Rest of Europe

Asia-Pacific (APAC) Lithium-Ion Battery Recycling Market o

By battery type

o

By end user

o

By country – China, Japan, South Korea, and Rest of APAC

Rest of the World (RoW) Lithium-Ion Battery Recycling Market

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o

By battery type

o

By end user

o

By country – Brazil, Saudi Arabia, Chile, South Africa, and Others

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