The global lithium-ion battery disposal hazards market is forecast to reach USD 17.21 Billion by 2027, according to a new report by Reports and Data. Raw materials used to manufacture lithium-ion battery are limited, whereas the demand is sky high from different end-users such as automotive, power, and consumer electronics, among others. Furthermore, the materials used in the batteries are hazardous to the environment. Reusing the utilized materials in the lithium-ion battery further helps in the preservation of resources; hence, the market for lithium-ion battery disposal hazards is gaining popularity throughout the world.
The market for lithium-ion battery disposal hazards is influenced by the rising demand for electric as well as hybrid electric vehicles where lithium-ion batteries are used extensively. Adoption of these vehicles results in a price hike of battery materials such as cobalt and lithium, hence making the recycling of lithium-ion battery industries more profitable.
The above-mentioned factors collectively create opportunities for market growth while factors such as safety issues while storage and transportation of spent batteries pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the lithium-ion battery disposal hazards market owing to innovative efforts have enhanced the efficiency of recycling process.
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Key Chapters of the Global Lithium Ion Battery Recycling Market Study:
- Chapter 1: The report provides an in-depth industry overview, with major focus on the Lithium Ion Battery Recycling industry’s fundamental aspects and dynamics.
- Chapter 2: This section offers key information on the leading industry products & services, key manufacturers & suppliers, industry sales and revenue statistics, and upcoming trends & opportunities.
- Chapter 3: In this section of the report, the Lithium Ion Battery Recycling market is segmented on the basis of geography. This section also discusses the annual sales, revenue growth rate, and market size of each regional market.
- Chapter 4: In this section, the report highlights the competitive environment of the Lithium Ion Battery Recycling market. It further highlights the effective business growth strategies undertaken by the leading market players, such as partnerships & collaborations, mergers & acquisitions, joint ventures, new product launches, and government contracts & deals.
Further key findings from the report suggest
- Lithium Iron Phosphate (LFP) battery type is forecasted to grow with the highest CAGR of 27.2% during the forecast period. These batteries have a high demand in high power devices, including the transportation of electric vehicles and lightweight marine batteries hence driving the market for lithium-ion battery disposal hazards.
- Hydrometallurgical process segment held the largest share of 42.1% in 2019. This process is considered the most suitable process for the recycling of spent lithium-ion batteries due to low capital cost and more environment-friendly nature than pyrometallurgy process.
- Automotive segment held the largest market share of 39.3% in the year 2019. Lithium-ion batteries have a significant demand in electric automobiles because of high power density and compact size. This factor is expected to keep the recycling industry growing at a brisk rate.
- The Asia Pacific region is forecasted to grow with the highest CAGR of 26.9% during the forecast period. This is due to the adoption of electric vehicles and smart vehicles, especially in China, India & Japan. The environmental concern among the governments regarding the toxicity of the lithium-ion battery is significantly fueling the lithium-ion battery disposal hazards market.
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Table of Contents (ToC): Global Lithium Ion Battery Recycling Market
- Study Objectives
- Market Definition
- Years Considered
- Key Stakeholders
- Market Outlook
- Market Size and Segmentation
- Research Process
- Market Size Estimation
- Data Collection & Validation
- Study Assumptions
- Study Limitations
Market Growth Indicators
- Latest Trends
- Regulatory Scenario
- SWOT Analysis
- Porter’s Five Forces Analysis
- Ansoff Matrix Analysis
- COVID-19 Impact on the Lithium Ion Battery Recycling Market
Battery Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Lithium-Nickel Manganese Cobalt (Li-NMC)
- Lithium Iron Phosphate (LFP)
- Lithium-Manganese Oxide (LMO)
- Lithium-Titanate Oxide (LTO)
- Lithium-Nickel Cobalt Aluminum Oxide (NCA)
- Lithium-Cobalt Oxide (LCO)
Technology Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Hydrometallurgical Process
- Pyrometallurgy Process
- Mechanical Process
End-use Industries Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Global Lithium Ion Battery Recycling Market Segmentation, by Geography
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Regional Market Share Analysis
Strategic Initiatives Undertaken by Key Market Players
Top Companies Profiled in the Global Lithium Ion Battery Recycling Market Report
Umicore, Glencore, Retriev Technologies, Raw Materials Company, American Zinc Recycling (INMETCO), Battery Recycling Made Easy, Brunp Recycling, SungEel HiTech, Taisen Recycling, and 4R Energy Corp among others.
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