Lithium-Ion Battery Recycling Market Size, Share, Growth Analysis, By Source (Automotive, Non-Automotive), By Battery Chemistry (LFP, NMC), By Battery Component, By Recycling Process, By Region - Industry Forecast 2024-2031

Global Lithium-Ion Battery Recycling Market size was valued at USD 3.22 billion in 2022 and is poised to grow from USD 3.79 billion in 2023 to USD 14.95 billion by 2031, growing at a CAGR of 21.6% in the forecast period (2024-2031). 

The competitive environment of the global Lithium-Ion Battery Recycling market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. The global market competitive landscape provides detailed information from competitors. Detailed information includes company overview, company financials, earnings, market potential, investment in research and development, new market strategy, global presence, manufacturing regions and locations of production, manufacturing capacity, company strengths and weaknesses, product launches, product expansion and expansion, application authority. 'Glencore (Switzerland) ', 'Umicore (Belgium) ', 'Cirba Solutions (US) ', 'Contemporary Amperex Technology Co., Ltd. (China) ', 'RecycLiCo Battery Materials Inc. (Canada) ', 'Accurec Recycling GmbH (Germany) ', 'American Battery Technology Company (US) ', 'Ecobat (US) ', 'Fortum (Finland) ', 'Gem Co., Ltd (China) ', 'Aqua Metals, Inc. (US) ', 'Li-Cycle Corp (Canada) ', 'Neometals Ltd (Australia) ', 'Redwood Materials Inc (US) ', 'Stena Recycling (Sweden) ', 'SK Tes (Singapore) ', 'Velio (France) ', 'ENVIROSTREAM AUSTRALIA PTY LTD. ', 'BATTERY RECYCLING MADE EASY ', 'DUESENFELD GMBH '

Growing Demand for Electric Vehicles to Unlock New Growth Potential

The market has witnessed various public and private players implementing significant expansion strategies to expand the Lithium-Ion Battery Recycling industry scenario to increase their recycling capacity. The establishment of a new recycling program is expected to significantly increase the sales volume of reusable lithium-ion batteries. It is also expected to lead to greater technological demand for rechargeable lithium-ion batteries in the coming decades.

Asia Pacific will dominate the market as the region is a major hub for lithium-ion batteries. China, Japan and South Korea are all producers of lithium-ion batteries and generate significant amounts of waste from these batteries. Lithium-ion batteries have been used primarily in consumer electronics, such as mobile phones, notebooks and PCs, but are now increasingly being redeveloped for use as the power source of choice in hybrid and of all electric vehicles (EVs), due to factors such as lower environmental footprint, or other greenhouse gases. Another attractive market such as electric vehicle energy storage systems (ESS); emerging applications both Commercial and residential, is driving demand for LIBs. In addition, ESS and renewable energy sources, such as wind, solar, or hydro, are technically and commercially necessary to stabilize the grid and sustain the LIB phase.