Global Lithium ion Battery Recycling Market - 2021- 2028
発行: DataM Intelligence
ページ情報: 英文 225 Pages
Lithium-ion battery is a type of rechargeable battery which are in popular demand for portable electronics, electric vehicles and in aerospace applications, etc. Recycling can recover nearly 25-95 percent of the lithium-ion cell's material, depending on the type of technology used for the separation. Hydrometallurgical process, pyro-metallurgy and other mechanical processes, are used to achieve recycling. The Global Lithium-Ion Battery recycling market is expected to grow at a CAGR of 22% during the forecast period.
The market is expected to be driven by increasing adoption and investment in the development of electric vehicles by various manufacturers around the world.
The global lithium-ion battery recycling market is being driven by increasing adoption and investment in the development of electric vehicles by various manufacturers around the world. Motivated by growing environmental concerns as well as oil's limited supply, the automotive industry has continued to develop various alternative fuel vehicles. Battery electric vehicles (BEVs) are among the most common and widely used non-petroleum-based solutions. According to the International Energy Agency, sales of electric vehicles surpassed 2.1 million globally in 2019, surpassing the previous year's record of 7.2 million electric vehicles. In 2019, electric cars accounted for 2.6 percent of global car sales and about 1 percent of global car stock, representing a 40 percent year-on-year increase. As a result, this growing demand for electric vehicles presents a significant waste-management challenge for recyclers at the end of their useful life. According to industry analysts, the world will produce 11 million metric tons of used Li-ion batteries per year by 2030. Electric vehicle batteries use a lot of plastics, rare minerals, and metals. Because raw materials such as cobalt or lithium are difficult to obtain, most businesses have implemented methods to recycle lithium-ion batteries, thereby increasing the market for Li-ion battery recycling during the forecast period. The limited availability of Lithium also calls for increased recycling of Lithium-Ion batteries.
Government regulations and EPA guidelines imposed by various countries around the world are expected to boost the Lithium-Ion Battery Recycling Market.
Because batteries contain heavy metals and hazardous chemicals, their direct disposal has raised environmental concerns due to water and soil contamination. Many products use lithium-ion batteries, including electronics, toys, wireless headphones, handheld power tools, small and large appliances, electric vehicles, and electrical energy storage systems. They can harm human health or the environment if they are not properly managed at the end of their useful life. As a result, various countries have imposed stringent regulations to encourage battery recycling and disposal after primary and secondary treatment. In 2019, North America topped the list of li-ion battery recycling market share. The dominance is attributed to the Environmental Protection Agency (EPA) focusing on regional air emission standards. Individual batteries should be sent to specialized battery recyclers or retailers that participate in takeback services, or they should be contacted by local solid waste or household hazardous waste programs for further recycling options, according to the US EPA. In Germany, for example, the law requires the deposit of expired batteries at designated stores in order for them to be recycled. The growing need for recycling in order to meet the growing demand for Lithium-Ion Batteries is expected to boost the Li-ion battery recycling market during the forecast period.
The restraints to the Lithium-Ion Battery Recycling Market include the growing number of illegal battery recycling operators which will hinder the growth of the market.
The COVID-19 pandemic has had a lasting and significant impact on industries all over the world, including the Lithium-Ion battery Recycling materials market. Because many manufacturing facilities were closed for months due to the Covid-19 pandemic, global Li-ion battery recycling has shown a slight decline. Several countries have also limited their activities during the covid-19 pandemic. The major lockdown caused by the COVID-19 outbreak has resulted in a sudden drop in consumers' interest in purchasing any goods, as well as a halt in transportation sectors, which has severely hampered the business of the Li-ion battery recycling market due to disruption in the product's supply chain management. According to the International Energy Agency's car sales data from January to April 2020, the passenger car market shrank by about 15% year on year compared to 2019. Car sales began to fall precipitously during the 2008-2009 economic downturn and re-entered a sales slump at the end of 2018.
The Global Lithium-Ion Battery Recycling Market is segmented into End-Use, Technology Process, Type, Region.
Based on End-Use
The Global Lithium-Ion Battery Recycling Market based on End-Use is segmented into Electronics, Industrial, Automotive and Others.
The global Li-ion battery recycling market can be divided into four segments based on end-user: automotive, marine, industrial, and power. Automotive dominated the recent Li-ion battery recycling market and is expected to maintain its dominance in the forecast period due to rising demand and investments in the automotive sector. Another factor driving the increased demand for Li-ion battery recycling in the automotive industry is the growing popularity and demand for electric vehicles worldwide. Millions of vehicles are equipped with or directly powered by Li-ion batteries, reducing pollution and energy consumption. According to data, in 2020, the global lithium-ion battery market was approximately worth 40 billion US dollars. Its market value is expected to more than double by 2026, reaching nearly 90 billion US dollars. Due to tightening environmental regulations, global sales of hybrid and plug-in electric vehicles are expected to reach approximately 40% of total car sales by 2030. According to a 2019 Science Direct article, Li-ion battery sales increased by 16 percent per year from 1996 to 2016, when the global market for Li-ion batteries was more than 20 billion US dollars at the cell level. The market is expected to reach 40 billion US dollars, with hybrid and electric vehicles accounting for nearly 40 percent of that total. These factors are expected to boost the automotive industry for Li-ion batteries which will also boost the recycling market.
Based on Technology Process
The Global Lithium-Ion Battery Recycling Market based on Technology Process is segmented into Physical and Mechanical Processes, Hydrometallurgical Process, Pyrometallurgy Process.
Based on Type
The Global Lithium-Ion Battery Recycling Market based on Type is segmented into Lithium-Iron Phosphate, Lithium-Nickel Manganese Cobalt, Lithium-Titanium Oxide, Lithium-Manganese Oxide and Others.
Based on Region
The Global Lithium-Ion Battery Recycling Market based on Region is segmented into Europe, North America, South America, Asia-Pacific, Middle East & Africa.
According to the US Energy Information Administration, there will be 1.4 million electric vehicle sales in the United States by 2035, making North America the dominant region of the Li-ion battery recycling market during the forecast period. Due to the EPA's air emission standards in the North American region, demand for electric vehicles is expected to maintain similar trends in the coming years. Due to the emergence of a new market for electric vehicles, Asia-Pacific is expected to grow the Li-ion battery recycling market at the fastest rate during the forecast period. The energy storage system for residential and commercial applications drives the market in the region. The market is dominated by China and India, both of which have significant lithium-ion manufacturing potential. According to data, in 2020, China was the largest holder of the passenger vehicles market with total sales amounting to approximately 20 million units According to data, China topped the lithium-ion battery market for electric vehicles, and the country accounts for roughly 40% of global electric vehicle sales. As a result, the region's growing number of end-users and Li-ion battery manufacturing are driving the market for recycling plants.
The lithium-ion battery recycling market is highly fragmented and competitive, with a large number of local and international companies present. Umicore SA, Glencore PLC, GS Yuasa Corporation, Brunp Recycling, Storage Battery System, International Metals Reclamation Company, Retriev Technologies, Taisen Recycling, TES-Amm, and Duesen are some of the key players contributing to the market's growth.
The major players are pursuing various growth strategies, such as product launches, acquisitions, and collaborations, which are contributing to the global growth of the Li-ion battery recycling market. In October 2018, for example, TES acquired Recuply SAS, a leading provider of battery recycling services in France and Europe. The acquisition is intended to hasten TES's entry into the European region's battery processing market.
Company Profile: Umicore SA
Overview: Umicore SA is a global material technology and recycling company that focuses on reducing harmful emissions and reusing used metals to power future vehicles and technologies. It was established in 1805.
Product Portfolio: The company began with a variety of mining and smelting operations and gradually evolved to develop material technology and recycling of specific metals such as cobalt, zinc, germanium, Lithium and others.
Recent Developments: 1) ENGIE and Umicore signed a long-term corporate Power Purchase Agreement (PPA) in July 2021 to supply renewable electricity to Umicore's greenfield plant in Nysa, Poland. It is Europe's first plant to produce cathode materials, which are essential components of rechargeable Li-ion batteries used in electric vehicles.
2) Umicore acquired cobalt refining and cathode precursor activities from Freeport Cobalt Oy, a Finnish company, in 2019. The acquisition was estimated to be worth around $200 million USD.
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