The report named Lithium-ion Battery Recycling Market Research Report, published by Stratview Research offers a thorough knowledge of the development and current scenario of the market. This report contains updated information related to the market gathered through extensive primary and secondary research. The market report incorporates the key players including manufacturers, providers, etc. This can help the users to understand the scenario of the market and take a firm decision for future investments.
Market Insights
As per the report, the lithium-ion battery recycling market was estimated at USD 4.14 billion in 2021 and is likely to grow at a CAGR of 19.56% during 2022-2028 to reach USD 14.49 billion in 2028.
What is the lithium-ion battery?
The lithium-ion battery is a type of battery that can be recharged and is generally used in the manufacturing of portable electronics and electric vehicles. These batteries find major applications in industries such as the military and aerospace.
COVID-19 Impact
The Covid-19 pandemic largely impacted the lithium-ion battery recycling market. This impact mainly comes from a reduced customer base for recycled batteries in the year 2020. However, the market is likely to rebound owing to the factors like growing concerns about battery waste disposal and increasing battery usage in the industrial sector.
Market Dynamics
It has been observed that investments in the growth and development of electric vehicles are increasing, providing substantial growth opportunities for the lithium-ion battery recycling market. The low accessibility of some raw materials such as cobalt and lithium has become an important factor for most companies, so they have started recycling lithium-ion batteries.
Key Players
Stratview Research tracks all the major product launches, mergers, and acquisitions over the past few years. The identification of key players in the market is based on both primary interview results as well as available authentic secondary data sources. According to the research, the following are the key players in the Lithium-ion Battery Recycling Market.
- American Manganese Inc.
- Glencore plc
- International Metals Reclamation Company, LLC
- Li-Cycle Corp.
- Neometals Ltd.
- Raw Materials Company Inc.
- Recupyl Sas
- Retriev Technologies Inc.
- Sitrasa
- Umicore
This report aims at providing critical market information and valuable insights which are of high value to the users, enabling them to identify strategic growth opportunities in the market. The report also aims at answering the following key questions:
· What is the current and future market potential of the Lithium-ion Battery Recycling Market?
· How will the COVID-19 pandemic impact the market?
· What will be the short and long-term repercussions of the pandemic?
· How are other crucial market factors changing the market dynamics?
· When is the recovery expected from the pandemic?
· After the pandemic, which region will heal up at the fastest pace?
· Which segments offer high-growth opportunities in the long run?
· How fierce is the market competition?
· What are the key emerging trends and unmet needs?
· What are the strategic growth opportunities and key success factors?
Segments Analysis
Based on the end-use type, the market is segmented as automotive and non-automotive. Automotive is estimated to be the dominant segment of the market, in terms of both value and volume, during the forecast period.
The non-automotive segment is further segmented as power, industrial, and marine. Automotive is expected to be the more significant segment of the market globally, and in the industrial and power segments as well. Lithium-ion batteries are being heavily used for the propulsion of automobiles and offer excellent features such as high energy and power density. The demand for these batteries is growing which is fueling the market growth during the forecast period.
Based on the battery chemistry type, the market is segmented as lithium-nickel manganese cobalt, lithium-iron phosphate, lithium-manganese oxide, lithium-titanate oxide, and lithium-nickel cobalt aluminum oxide. Lithium-nickel manganese cobalt is estimated to be the leading segment of the market, in terms of volume, during the forecast period.
On the other hand, lithium-ion manganese oxide is projected to be the highest-recycled battery type and has an increasing number of implementations for the manufacturing of power tools, medical devices, and electric powertrains which is one of the major factors fueling the market growth across the world.
In terms of regions, North America is estimated to be the leading region in the market during the forecast period, with the US and Canada being the major countries with lucrative growth opportunities.
The Environment Protection Agency has implemented strict rules and regulations about air emission standards in the region, which in turn, is increasing the demand for the market in North America during the forecast period. Asia-Pacific and Europe are also expected to offer substantial growth opportunities during the forecast period.
About Us –
Stratview Research is a growing market research firm. Experts here illustrate innovative, descriptive, and comprehensive insights through market research to satisfy your individual and organizational objectives. We assist the users to make well-informed, profound, and favorable decisions to comprehend the advantages of forthcoming trends, developments, assessments, and opportunities through our precise understanding of the market. You may also connect with our market experts at [email protected] or +1-313-307-4176.
Comments