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  • Lithium-ion Battery Recycling Market Size, Share and Forecast 2026

    (, September 09, 2019 ) Market Overview
    Batteries are costly and have a relatively short life span. As discarded batteries grow by the tonnage, entrepreneurs are enticed to start a business in recycling. The major objective of building a good battery is a long life, safety, and low price. Recycling is an afterthought and manufacturers do little to simplify the retrieving of precious metals. Usage of lithium-ion batteries by the automotive industry is increasing, therefore the need of improving the recycling of lithium-ion batteries is becoming critical.
    Major automotive, manufacturing, technology, mining, and energy businesses are joining forces with UNICEF, the African Development Bank, other international organizations and NGOs to create a responsible global supply of batteries in a market. The alliance intends to safeguard workers, ban child labor, eradicate pollution, promote re-use and recycling and unlock innovation for green energy storage.

    Market Dynamics
    Electric Vehicles are picking up a reputation as a result of the increasing environmental concerns and the requirement for a supportable ecosystem in the automotive business. Increasing demand for recycled materials and products, rising interest for industrial goods and smart devices, and growing demand for electric vehicles worldwide are the major driving factors for the market growth globally.
    Growing demand and investments in electric vehicles are the major driver impacting the growth of the market worldwide. For instance, Automobile giant Volkswagen has announced an investment of USD 24 billion to set up an all-electric line-up of cars, including infrastructure, by 2030. China's largest electric carmaker BYD reportedly sold 113,669 new energy vehicles in 2017. Automaker Volvo has announced that electric vehicles will account for 50% of all its sales by 2025 and it plans to offer a hybrid variant of all its vehicles from mid-2019. It is said that at least 60% of the batteries from electric vehicles will serve in second use solutions before they are sent to recycling. However, the volume of material available for recycling is limited due to poor collection systems for portable batteries and good reuse prospects as utility-scale storage for automotive batteries.
    Security and safety issues related to transportation and storage is the major restraint hindering the growth of the market.

    Market Segmentation
    By application, the lithium-ion battery recycling market is segmented into electronics, industrial, automotive and other end users. Other end-user includes power and marine.
    The electronics segment market is valued at USD XX Million in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach a USD XX Million by 2026. Lithium-ion batteries, found in nearly all consumer electronics. Consistent expansion in electronics, support from government and increasing selection of lithium-ion batteries by electronic manufacturers has supported the development of this market globally.
    The rising utilization of electronic gadgets, for example, mobile phones, workstations, MP3 players, and GPS route frameworks is driving the development of the electronics industry. The well-established companies such as Foxconn, Flex, Wistron, and Benchmark Electronics are expanding their production facilities and investing in new countries to meet the growing supply-demand gap. For instance, in March 2018, Wistron invested USD 106.4 million to acquire additional land near Bengaluru, India.
    Based on the Type, the lithium-ion battery recycling market is divided into lithium-nickel manganese cobalt, lithium-iron phosphate, lithium-titanium oxide, lithium-manganese oxide, and others. Others are further classified into lithium-cobalt oxide, lithium nickel cobalt aluminum oxide. The electronics segment market is valued at USD XX Million in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach a USD XX Million by 2026. The lithium iron phosphate battery is a type of rechargeable battery, specifically a lithium-ion battery, using LiFePO 4 as the cathode material, and a graphitic carbon electrode with a metallic backing as the anode.
    On the basis of technological process, the lithium-ion battery recycling market is classified into physical and mechanical process, hydrometallurgical process and pyrometallurgy process.

    Geographical Analysis
    North America market is valued at USD XX Million in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach a USD XX Million by 2026. North America holds XX% of market share in 2018 and is expected to increase to XX% by 2026, for Global lithium-ion battery recycling market. North American automotive industry is well-positioned and has the ability to manufacture electric vehicles with the presence of leading batteries and battery separator firms. The Solid Waste Association of North America (SWANA) has voiced its support for legislation to create a recycling program for lithium-ion batteries in California under AB 1509, the Lithium-Ion Battery Fire Prevention Act.
    Governments in North America are investing in lithium-ion battery recycling. For instance, The U.S. Department of Energy (DOE) recently announced plans for a USD 20.5 million investment in lithium-ion battery recycling, with the goal of boosting capture rates to 90%, from a current rate of less than 5%. These investments include USD 15 million to create a new Lithium Battery R&D Recycling Center in partnership with Argonne National Laboratory, the National Renewable Energy Laboratory, and Oak Ridge National Laboratory.
    The Asia Pacific market is valued at USD XX Million in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach a USD XX Million by 2026. The Asia Pacific holds XX% of market share in 2018 and is expected to increase to XX% by 2026 in Global lithium-ion battery recycling market. The Asia Pacific is expected to hold the largest market share globally. The Asia Pacific has recognized as a center for the Electric vehicle market in recent years. Asia has numerous vertically integrated companies with 2 decades of capability and involvement in the production of lithium-ion batteries, thus growing expansion of electric vehicles will drive the development for lithium-ion battery recycling market.
    Asian companies have upgraded manufacturing processes and this made the Asia Pacific as a major hub for the market growth. China, India, Japan, and the Korea Republic already have developed the automobile industry and increasingly occupying into electric vehicles technologies, which will further drive the demand for Lithium-ion batteries, simultaneously for Li-ion battery recycling market. The Chinese recycling industry will have a strong competitive advantage through proven technology and available capacity.

    Competitive Trends
    Some of the major players include Taisen Recycling, Brunp Recycling, 4R Energy Corp, Li-Cycle Technology, Metal Conversion Technologies, Umicore, Green Technology Solutions, Inc., Glencore, Retriev Technologies and International Metals Reclamation CompanyThe key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the lithium-ion battery recycling market.
    Manufacturers are focusing to expand their production facilities. For instance, A123Systems has opened the largest lithium-ion automotive battery production facility in North America.
    Two U.S. players in cell components are Celgard, the worlds third-largest producer of separators, and Novolyte, the only North American producer of electrolytes for lithium-ion batteries, which has production facilities in Louisiana.
    In July 2018, BYD Company signed a strategic cooperation agreement with Changan Automobile to jointly manufacture batteries for electric vehicles. The groundbreaking agreement will see both companies collaborate in the production and sale of these batteries through a new legal entity based in Chongqing, a megacity of 33 million people in central China.
    There has been a significant investment by the incumbent and new battery producers into constructing additional manufacturing capacity to meet demand. For instance, In September 2017, Panasonic Corporation has decided to start the production of automotive lithium-ion batteries at a factory in Himeji, Hyogo Prefecture, and expanding domestic production amid increasing demand for such batteries.

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    Source: EmailWire.Com


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