[ad_1]
(EMAILWIRE.COM, December 13, 2022 ) The global “Lithium-ion Battery Recycling Market is projected to grow from USD 4.6 billion in 2021 to USD 22.8 billion by 2030, at a CAGR of 19.6% during the forecast period 2021-2030. The increase in electric-drive vehicles (EDVs) and their battery packs reaching end-of-life (EoL) present a major opportunity to the Lithium-ion Battery Recycling Market. Subsidies to encourage battery recycling and the development of a number of hybrid and electric vehicle (EV) batteries are expected to provide growth opportunities to the battery recycling market.
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=153488928
Lithium-ion battery recycling is the reprocessing of spent batteries that aims to reduce the number of spent batteries being disposed of as municipal solid waste (MSW) or material waste. Batteries contain several toxic chemicals and heavy metals and disposing them off by the same process as trash raises environmental and health concerns about water pollution and soil contamination. As the number of electric-drive vehicles (EDVs) on roads increases and the battery packs they contain reach end-of-life (EoL), major opportunities to recapture and recycle the materials in the batteries are expected. It is essential that environmentally sound management (ESM) practices are adopted to ensure that recycling takes place in a manner that is protective of human health and environment.
Based on end use, the lithium-ion battery recycling market is categorized into two major segments automotive and non-automotive. The non-automotive segment is further categorized into subsegments, namely, industrial, power, and marine. Based on end use, the automotive segment is expected to be the largest segment during the forecast period, from 2021 to 2030. The rising demand for electric vehicles around the world and hence the rising need for sound lithium-ion battery recycling for the recovery of precious metals from these spent batteries such as cobalt, nickel, and others is propelling the demand for lithium-ion battery recycling market.
Among the non-automotive end use segments, the lithium-ion battery recycling market is projected to be led by the industrial segment in 2025, while the marine segment is projected to grow at the highest CAGR between 2021 and 2030. The high demand for lithium-ion batteries over lead-acid batteries in the marine industry is driving the growth of the marine segment in the market.
Don’t miss out on business opportunities in Lithium-ion Battery Recycling Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=153488928
Browse in-depth TOC on “Lithium-ion Battery Recycling Market
139 – Market Data Tables
47 – Figures
199 – Pages
By battery chemistry, the automotive lithium-nickel manganese cobalt (Li-NMC) battery chemistry segment accounted for the largest share of the lithium-ion battery recycling market in 2020, by volume. The high growth in demand is expected for the Li-NMC battery chemistry owing to attributes such as high energy density and high power density at low cost.
North America, Asia Pacific, and Europe are the major regional markets for lithium-ion battery recycling. Rising demand from the electric vehicles and industrial, marine, and power sectors has resulted in high demand for lithium-ion battery recycling. North America dominated the global lithium-ion battery recycling market in 2020, in terms of value. Countries such as the US, Canada, China, The Netherlands, and Germany, among others, have undertaken various initiatives and are implementing strict regulations to support the growth of the market for electric vehicles. This is expected to lead to the high output of spent batteries for recycling, thus, supporting the growth of the market.
The key market players include Umicore (Belgium), Glencore International AG (Switzerland), Retriev Technologies Inc. (US), Raw Materials Company Inc. (RMC) (Canada), American Zinc Recycling (US), American Manganese Inc. (Canada), SITRASA (Mexico), Li-Cycle Corp. (Canada), Neometals Ltd (Australia), Metal Conversion Technologies (MCT) (US), TES (Singapore), Fortum (Finland), GEM Co., Ltd (China), Contemporary Amperex Technology Co. Ltd (CATL) (China), Duesenfeld GmbH (Germany), and Accurec-Recycling GmbH (Germany). These players have adopted collaborations, acquisitions, agreements, partnerships, investments, contracts, new technology developments, expansions, and new production strategies to enhance their positions in the market.
Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=153488928
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
[ad_2]
Source link
