Gujarat Magazine

Lithium-Ion Battery Recycling Market Size Worth USD 17.21 Billion by 2027 – Reports and Data

 Breaking News
  • No posts were found

Lithium-Ion Battery Recycling Market Size Worth USD 17.21 Billion by 2027 – Reports and Data

September 13
20:26 2021
Lithium-Ion Battery Recycling Market Size Worth USD 17.21 Billion by 2027 – Reports and Data
Lithium-Ion Battery Recycling Market
Growing demand for recycled products & materials and smart devices are propelling the market growth.

The global lithium-ion battery recycling 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 recycling is gaining popularity throughout the world.

The market for lithium-ion battery recycling 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 recycling market owing to innovative efforts have enhanced the efficiency of recycling process.

The Asia Pacific is a key region for the lithium-ion battery recycling market and is forecasted to grow at a very fast rate during the forecast period. Established lithium-ion battery manufacturers in the region, especially in China and the government regulations in which the manufacturers are responsible for setting up facilities to collect and recycle spent batteries are likely to fuel the market for lithium-ion battery recycling in the region.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2033

Key Participants 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.

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 recycling.
  • 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 recycling market.

Browse Complete Report “Lithium-Ion Battery Recycling Market” @ https://www.reportsanddata.com/report-detail/lithium-ion-battery-recycling-market

The report sheds special focus on the factors that propel the growth of the industry. For better understanding, the report segments the Lithium-Ion Battery Recycling market into key divisions such as types, applications, end-use, technology, region, and others. These segments are extensively analyzed to offer better forecast for the global and regional market and key factors influencing their growth are also covered in the report.

For the purpose of this report, Reports and Data have segmented into the global Lithium-ion Battery Recycling market on the basis of battery type, technology, end-use industries, and region:

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)

  • Automotive
  • Marine
  • Power
  • Industrial
  • Others

Request Customization of the report @ https://www.reportsanddata.com/request-customization-form/2033

Regional Analysis Covers:

North America (U.S.A., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of Europe)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Media Contact
Company Name: Reports and Data
Contact Person: John Watson
Email: Send Email
Phone: +1-212-710-1370
Address:40 Wall St. 28th floor
City: New York City
State: NY 10005
Country: United States
Website: https://www.reportsanddata.com/report-detail/lithium-ion-battery-recycling-market


Warning: count(): Parameter must be an array or an object that implements Countable in /home/haridwartoday/gujaratmagazine.in/wp-content/themes/legatus-theme/includes/single/post-tags.php on line 5
Share

Recent Posts

Post-Traumatic Stress Disorder (PTSD) Clinical and Non-Clinical Studies, Therapeutic Pipeline Assessment, and Emerging Therapies | Key Companies Include – Aptinyx, Otsuka, Nobilis, Bionorica & Others

Read Full Article

Categories