Lithium-ion Battery Recycling Market Research Report—Global Forecast till 2027

Lithium-ion Battery Recycling Market Information Report by End Use(Automotive, and Non-automotive [Industrial, Power, and Marine]),by Battery Chemistry (Lithium-nickel Manganese Cobalt (Li-NMC), Lithium-iron Phosphate (LFP), Lithium-manganese Oxide (LMO), Lithium-titanate Oxide (LTO), and Lithium-nickel Cobalt Aluminum Oxide (NCA)), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) – Forecast till 2027

ID: MRFR/E&P/9102-HCR | June 2021 | Region: Global | 128 pages

Li-ion battery recycling Market Overview :


Lithium-ion Battery Recycling Market is projected to be worth USD 16.8 Billion by 2027, registering a CAGR of 17.02% during the forecast period (2021 - 2027), The global market was valued at USD 130.1 billion in 2020.


COVID-19 Impact:


Covid-19, also known as the novel coronavirus, has been gripping the globe in recent months. The consequences can be felt in all nations, markets, and companies. The global supply chain has been primarily disrupted due to lockdowns in countries such as China, the United States, India, and Germany. The virus has also been declared contagious and transmissible, even though surfaces have been quarantined due to being in close proximity to an infected person. Further, any activities, gatherings, or communications were prohibited throughout the world. People were forced to follow strict guidelines in order to act responsibly when purchasing and using everyday necessities.


The automotive industry has felt the brunt of the ongoing pandemic as a result of a blanket ban on all modes of transportation without proper regulation. Additionally, since the battery industry is heavily concentrated in China (the country of origin of the virus), it has suffered a major setback. Reduced import-export of raw materials caused a significant shift in supply and demand.


China is one of the largest manufacturers of batteries, CATL, and BYD products in the Asia Pacific region, but the pandemic caused by the coronavirus has resulted in production delays for products used by a variety of end users. Original equipment manufacturers (OEMs) have been the most vulnerable to market disruptions due to battery and raw material supply issues, as the majority of raw materials are sourced from China. OEMs in several regions have been able to obtain Li-ion battery materials at high prices from alternate sources in Japan, Korea, and Taiwan, resulting in a decrease in revenue and financial structure. Moreover, with alternate sources of production, manufacturers are only able to meet the short-term demand arising from various end users in developing countries.


Key Players


The major players operating in the global Li-ion battery recycling market areUmicore, Glencore International AG, Retriev Technologies Inc., Raw Materials Company Inc. (RMC), International Metals Reclamation Company, LLC (INMETCO), American Manganese Inc., Sitrasa, Li-Cycle Corp., Neometals Ltd, Recupyl Sas, Tes-Amm Singapore Pte Ltd, Fortum OYJ, GEM Co., Ltd, Tata Chemicals Limited, Onto Technology, LLC, Lithion Recycling Inc., Ecobat Technologies Ltd., Battery Recycling Made Easy (BRME), Euro Dieuze Industrie (E.D.I.), Batrec Industrie AG, Urecycle Group Oy.


Segment Overview:


By End Use:


On the basis of End Use, the market is segmented into automotive, and Non-automotive. Among these, the automotive segment is expected to grow with the highest CAGR during the forecast period. The growing adoption of electric vehicles and government regulations supporting the EVs are the key factors responsible for the growth of this segment in 2020.


By Battery Chemistry:


Based on Battery Chemistry, the market is segmented into Lithium-nickel Manganese Cobalt (Li-NMC), Lithium-iron Phosphate (LFP), Lithium-manganese Oxide (LMO), Lithium-titanate Oxide (LTO), Lithium-nickel Cobalt Aluminum Oxide (NCA). The lightweight lithium-ion battery systems have a high energy density and power, which improves wheeled vehicle’s mobility. Furthermore, military transport, combat and unmanned vehicles are switching to fully electric or hybrid systems, with battery systems serving as the primary source of propulsion power.


Market Dynamics:


Lithium-ion battery recycling is a dynamic and more attractive industry, for sure. With the rapid adoption of EVs, the demand for Li-ion batteries as well as Li-ion battery recycling will grow significantly in the coming decades. Currently, most of the recycling companies are located in China, for example: Brunp, Huayou Cobalt, GEM, and Europe, such as Umicore, Akkuser, Accurec. Chinese recycling companies are at an advantage. They benefit from an already large battery market, enjoy extensive support from the state and have good access to the high volume of material to be recycled.


Most of the recycling companies are gradually increasing their recycling capacity to accommodate the growing volume of end-of-life batteries. Still, it again depends on the investment required to increase the capacity.


To build a new recycling plant or increase the capacity of an existing plant needs high investment. High investment, the right strategies, and the rapid increase of recycling capacity are the key. Recycling players with high investment capability and the right approach may benefit. Therefore, today’s smaller players or newcomers can increase their market shares, and the leaders can see their market shares decreasing, all depending on their approach.


Most of the recycling companies are gradually increasing their recycling capacity to accommodate the growing volume of end-of-life batteries. Still, it again depends on the investment required to increase the capacity.


To build a new recycling plant or increase the capacity of an existing plant needs high investment. High investment, the right strategies, and the rapid increase of recycling capacity are the key. Recycling players with high investment capability and the right approach may benefit. Therefore, today’s smaller players or newcomers can increase their market shares, and the leaders can see their market shares decreasing, all depending on their approach.


Electrification will become increasingly important in the coming decades. According to the Paris agreement, by 2050, all modes of transportation must be zero-emission. As a result, countries all over the world must reduce their traffic-related emissions. Some countries, including the United States, Canada, Japan, China, and India, have already implemented commercial vehicle thresholds for zero-emission. The EU is gradually catching up, and by 2030, heavy-duty commercial vehicle CO2 emissions should be at least 30% lower than they were in 2019 in EU.


When it comes to the use of electric buses, China is way ahead of the game. According to Bloomberg New Energy Finance (BNEF), there are around 385,000 e-buses on the road worldwide, with 99% of them in the People's Republic of China. In case of electric buses, the Netherlands leads the way in Europe. Amsterdam's Schiphol Airport was the first in the world to transfer passengers to planes in e-buses, with 35 buses in service since mid-2015. The Netherlands also has the world's first regular battery-powered bus service, with six buses operating on the largely car-free island of Schiermonnikoog since 2013. The rising demand for and use of electric vehicles will increase the demand for lithium-ion battery in the future, thereby enhancing the lithium-ion battery recycling market growth.


Regional Analysis:


The Li-ion battery recycling market is segmented by region into North America, Europe, Asia Pacific, Rest of World. The North America lithium-ion battery market is primarily dominated by the U.S. The U.S. has accounted for the largest market share among others. The U.S. is anticipated to grow at the fastest CAGR of around 30.2% over the forecast period.


Lower lithium-ion battery prices, rapid penetration of electric vehicles, growing use in the aerospace sector, rising renewable sector, and higher consumer electronics consumption are the major factors in driving the market. One of the most important end-user segments for lithium-ion batteries is considered to be the automotive industry. Electric vehicle adoption is expected to provide a significant thrust to the lithium-ion battery industry's growth. Rising urbanization and consumer expenditure are predicted to fuel the demand for these batteries further.


Government support for renewable energy and electric vehicle infrastructure projects, as well as increased use of electric vehicles, smart portable electronics, and the growing grid storage industry, are some of the key factors that have driven the lithium-ion battery market in Europe. Furthermore, the market is predicted to grow owing to the significant investments in lithium-ion battery manufacturing plants/projects, with a particular focus on electric vehicles and energy storage systems.


Recent Developments:


In September 2019, Umicore and LG Chem Ltd. (South Korea) entered into a multi-year strategic supply agreement for the supply of 125,000 metric tons of nickel, manganese, and cobalt cathode materials for lithium-ion batteries to LG Chem Ltd. The agreement became effective from January 2020. Under this agreement, Umicore is also expected to recycle LG Chem Ltd.’s cathode material production waste. Currently, both companies are undergoing discussions on long-term cooperation in battery recycling. The agreement is expected to help Umicore enhance its competitive edge in the battery recycling market globally.


In December 2019, Umicore acquired the cobalt refining and cathode precursor activities from Freeport Cobalt Oy in Kokkola, Finland. The acquisition was valued at USD 203 million and helped Umicore reduce the net working capital by creating supply chain synergies in the cobalt refining and cathode precursor activities.


Intended Audience



  • Government and research organization

  • Consulting companies in the Li-ion battery recycling market

  • Raw material suppliers

  • Research consultants

  • Investors and shareholders



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 130.1 Billion
  CAGR   17.02% CAGR
  Base Year   2020
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By End Use, Battery Chemistry, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Umicore, Glencore International AG, Retriev Technologies Inc., Raw Materials Company Inc. (RMC), International Metals Reclamation Company, LLC (INMETCO), American Manganese Inc., Sitrasa, Li-Cycle Corp., Neometals Ltd, Recupyl Sas, Tes-Amm Singapore Pte Ltd, Fortum OYJ, GEM Co., Ltd, Tata Chemicals Limited, Onto Technology, LLC, Lithion Recycling Inc., Ecobat Technologies Ltd., Battery Recycling Made Easy (BRME), Euro Dieuze Industrie (E.D.I.), Batrec Industrie AG, Urecycle Group Oy.
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers   Government support for renewable energy and electric vehicle infrastructure projects, increased use of electric vehicles, smart portable electronics and the growing grid storage industry


Frequently Asked Questions (FAQ) :


Lithium-ion Battery Recycling market is predicted to grow at 17.02% through forecast period of 2020-2027.

The forecast period for Lithium-ion Battery Recycling market research report is 2020-2027.

Global Lithium-ion Battery Recycling market is dominated by US region.