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03 September 2022

Douglas Insights Includes Lithium-ion Battery Recycling Market Report in Its Comparison Engine

Douglas Insights enables effective market research for its clients by including the Lithium-ion battery recycling Market report in its comparison engine. Industry professionals and individuals can access research reports by different publishers and compare them using the issued rating, date, price, and a list of tables. Douglas Insights' comparison engine is the first of its kind in the world. It's developed to help clients boost their productivity and make informed decisions based on market evaluation results.

 

Lithium-ion battery recycling refers to gathering lithium-ion batteries from various sources, such as automobiles, industrial equipment, consumer goods, and electronic devices, as well as the recovery of metals through recycling procedures. The global market estimate includes income from sales of these recoverable metals or elements, regardless of whether they are used in further recycling or other applications that require a second use. The majority of metals recovered are used to make batteries.

 

The international lithium-ion battery recycling market is anticipated to expand due to governmental laws, emission reduction, and public awareness. The expansion of the lithium-ion battery recycling industry is somehow constrained by poor separation of hazardous elements from batteries, faulty disassembly, and inappropriate shredding.

 

The availability of coating materials to minimize the risk of combustion and short-circuiting, as well as the attractive design of batteries, are predicted to open up new growth opportunities for the worldwide market.

 

The world market is divided based on source, battery chemistry, recycling method, end-user, and locale. Lithium-iron phosphate, Lithium-manganese oxide, lithium-nickel-manganese-cobalt, lithium-titanate oxide and lithium-nickel-cobalt-aluminium oxide are the several battery chemical subgroups that make up the market. Based on the source, it includes power tools, electric cars, and gadgets. And in terms of recycling processes, it is divided into pyrometallurgy, hydrometallurgy, and physical/mechanical. The end-user industries are categorized as: automotive and non-automotive. The market is examined regionally across Europe, North America, LAMEA, and Asia-Pacific.

 

Due to increased demand for lithium-manganese oxide batteries for industrial demand for electricity, fuel, and water pipes, security systems, smoke and fire alarms, and other storage technology, the battery chemistry segment will dominate the market in 2020. Lithium-ion batteries also have benefits, including long-term dependability, durability, and high thermal stability, which are expected to drive market expansion over the projection year.

 

Because super efficient battery sources are used in mobile phones, computers, cameras, and other electronic gadgets, the electronics segment had the most significant market share in terms of source over the forecast timeline. Additionally, the benefits of lithium-ion batteries, such as their high electrical density, ease of maintenance, low self-discharge, and other factors, are anticipated to drive the market’s expansion throughout the surveyed period.

 

Lockdowns enforced during the COVID-19 outbreak led to a transitory restriction on production, processing, and trade activity among manufacturing sectors, which lost market share for lithium batteries from various automobile and non-automotive clients.

 

As a result, market growth declined after the first quarter of 2020. The market eventually rebounded by the first quarter of 2021; however, the initiation of COVID-19 vaccinations in many countries worldwide is anticipated to strengthen the global economy. The market for recycling lithium-ion batteries globally includes comprehensive information on the key players in the sector. 

 

The market’s key competitors include American Battery Technology Company, Ganfeng Lithium Co., Ltd., Accurec Recycling GmbH, Akkuser Oy, Fortum Corporation, Duesenfeld GmbH, Li-Cycle Corp., Retriev Technologies, Inc., Umicore, and Lithion Recycling, Inc.  Other distinguished names in the value chain are Primobius, Neometals Ltd., Green Li-ion Pvt, Redux GmbH, and, Ltd., SungEel MCC Americas.   

 

To remain competitive in the market, big corporations are implementing various methods, including introducing new technologies, corporate growth, agreements, partnerships, and collaboration.

 

Using sustainable clean fuels is becoming more prevalent in the automotive sector. The transportation system relies heavily on oil as a fuel, raising issues among economists and environmentalists alike. The use of electric vehicles is growing along with environmental consciousness. EDVs are being used more frequently, causing an increase in the demand for lithium-ion batteries, as these are necessary for a constant supply of power. 

 

The EV market is anticipated to expand due to factors like energy efficiency, environmental protection, and public consumption. The growth of new battery technology and the minimal maintenance needs of these lithium-ion batteries are contributing to the surge in the popularity of electric vehicles.

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