Li-ion batteries contain a number of toxic chemicals and heavy metals and have a lifespan of 5 to 10 years. Its disposal has raised concerned over soil contamination and water pollution. The demand for Li-ion battery has increased in the recent past, led by China mainly due to increased deployment of in energy storage systems and adoption of the electric vehicle. The trend is expected to continue and is expected to result in a demand-supply shortage of Li-ion battery. To prevent the future shortage and prevent environmental contamination, recycling of Li-ion battery is becoming critical. The massive deployment of electric vehicles has led to the price boom of lithium and cobalt, thereby making the recycling of lithium-ion more profitable.
Government Regulation Drives the Market
Few countries across the world have formulated policies to promote recycling of electric vehicle (EV) batteries, as these batteries have a lifespan of 5 to 10 years. As per legislation in China, the manufacturers and importers have to come up with a feasible recycling program. The battery recycling programs have been formulated to offset the adverse effects of lithium-ion battery wastage which is anticipated on account of widespread deployment of lithium-ion batteries. European Union has set a timeline for battery manufacturers and importers for recycling of spent lithium-ion batteries. In Canada, three provinces i.e. British Columbia, Manitoba, and Quebec have a mandatory recycling program. Other countries are expected to follow the same and introduce such programs. Thus, in a bid to protect the environment the government regulations are resulting in increasing adoption of recycling program in their business and hence drive the market.
Asia-Pacific to Dominate the Market Growth
Asia-Pacific is the fastest growing market for lithium-ion battery recycling market across the world due to presence of major developing countries i.e. China, India, South Korea, etc. According to Society of Indian Automobiles Manufacturers (SIMA), the total automotive sales across India has grown by over 22 percent from 2011 to 2016. The sales of new electric vehicles in China increased from 8159 in 2011 to 777000 in 2017 which indicates rising usage of lithium-ion battery in the region. As a result, it has created a concern among the government towards to take some initiative to deal with the huge volume of toxic waste that will be generated once these batteries are out of service. In February 2018 the government of China made a rule under which the manufacturers of electric vehicles (EV) are responsible for setting up facilities to collect and recycle spent batteries which is likely to spur the development of lithium-ion battery recycling plants. Moreover, the renewable power deployment is growing at a rapid pace which is likely to further bolster the demand for lithium-ion battery recycling in Asia-Pacific during the forecast period.
The major players include – Glencore, Green Technology Solutions, Inc., Li-Cycle Technology, Recupyl Sas, Umicore, Metal Conversion Technologies, Retriev Technologies, Raw Materials Company, TES-AMM, and American Manganese, amongst others.
Reasons to Purchase This Report
- Current and future lithium-ion battery recycling market outlook in the developed and emerging markets.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- The segment that is expected to dominate the market.
- Regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel).
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1. Executive Summary
2. Research Methodology
2.1 Scope of the Report
2.2 Market Definition
2.3 Study Assumptions
2.4 Study Deliverables
2.5 Research Phases
3. Market Overview
3.2 Market Size and Demand Forecast until 2023 (in USD billion)
3.3 Recent Trends and Developments
3.4 Government Policies & Regulations
3.5 Investment Opportunities
4. Market Dynamics
5. Supply Chain Analysis
6. Industry Attractiveness - Porter’s Five Force Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Intensity of Competitive Rivalry
7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)
7.1 By Industry
7.2 By Technology
7.2.1 Hydrometallurgical Process
7.2.2 Pyrometallurgy Process
7.2.3 Physical/Mechanical Process
8. Regional Market Analysis (Overview, Market Size, and Demand Forecast until 2023)
8.1 North America
8.4 Rest of the World
9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Development, and Analyst View)
9.2 Green Technology Solutions, Inc.
9.3 Li-Cycle Technology
9.4 Recupyl Sas
9.6 Metal Conversion Technologies
9.7 Retriev Technologies
9.8 Raw Materials Company
9.10 American Manganese
*List not Exhaustive
10. Competitive Landscape
10.1 Mergers & Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Strategies Adopted by Leading Market Players
11. Future of the Market
12.1 Contact Us
**Subject to availability on public domain