Global Lithium-ion Battery Recycling Industry to reach USD 10.8 million by 2026. Global Lithium-ion Battery Recycling Industry is valued approximately USD 2.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 22.1 % over the forecast period 2020-2026. Lithium ion batteries are used in vast quantities in electronic and household devices. These batteries are widely used in end use industries owing to its high energy density, high voltages and low weight to volume ratio. These batteries have an expected lifespan of 3-5 years, with the increasing usage in end use industries, large waste stream of lithium ion battery is being generated. Lithium ion batteries contain toxic and flammable components, as well as valuable metals such as Li, Ni. For these reasons, there are benefits to recycling used LIBs, instead of disposal in landfills. In addition, improper methods of recycling and disposing of the battery result in contamination of the ground water, as lead and sulphuric acid get seeped into the soil. Again, if the batteries are disposed in rivers, lakes, streams and others, the hazardous components lead and sulphuric acid can threaten aquatic life. Thus, growing demand for recycled products & materials, demand for smart devices and industrial goods increase the demand for battery recycling. For instance, as per Recycling International, about 67, 000 tons of lithium ion batteries were recycled in china and about 18,000 tones in South Korea in 2018. Further, government subsidies to encourage battery recycling is further creating growth prospects in the Industry. However, safety issues associated with the storage and transportation of disbursed batteries is anticipated to impede the growth of the Industry over the forecast period of 2020-2026.
The regional analysis of global Lithium-ion Battery Recycling Industry is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia pacific is the leading/significant region across the world in terms of Industry. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising growing automotive industry, need for industrial applications would create lucrative growth prospects for the Lithium-ion Battery Recycling Industry across Asia-Pacific region.
The objective of the research study is to define Industry sizes of different segments & countries in recent years and to forecast the values to the coming six years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the research study. However, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Industry. Additionally, the report shall also incorporate available opportunities in micro Industry for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
Lithium-ion Battery Recycling Market Segmentation:
Lithium-nickel Manganese Cobalt (NMC)
Lithium-iron Phosphate (LFP)
Lithium-manganese Oxide Spinal(LMO)
Lithium-titanate Oxide (Li-TO)
Lithium-nickel Cobalt Aluminum Oxide (NCA)
Lithium-cobalt Oxide (Li-CO)
Rest of Europe
Rest of Asia-Pacific
Middle East & Africa