The Lithium-Ion Battery Recycling Market is growing rapidly driven by demand for electric vehicles
From GlobeNewswire: 2025-03-19 09:00:00
The Lithium-Ion Battery Recycling Market is set to grow significantly, reaching USD 42.09 Billion by 2032 with a CAGR of 18.5%. Government support and technological advancements are driving this growth, with the US investing in battery production and recycling infrastructure to meet the demand for electric vehicles and critical raw materials.
The market is dominated by key players like Glencore International AG and Umicore, offering battery recycling solutions and critical materials for battery production. Different chemistry segments like lithium cobalt oxide and lithium iron phosphate are experiencing growth, with hydrometallurgical and pyrometallurgical processes leading the way in efficient material recovery.
North America leads the market, with 35% market share in 2023, driven by EV demand and government support. In contrast, Asia Pacific is the fastest-growing region, projected to have a CAGR of 20.14%, fueled by increased EV adoption and supportive policies, notably in China. Both regions are crucial in shaping the global lithium-ion battery recycling market’s future.
Recent developments include Technology Minerals Plc’s Recyclus Group Ltd securing a deal with Glencore and RecycLiCo Battery Materials Inc. obtaining a European Unitary Patent for its recycling technology. These advancements highlight the ongoing innovation and growth within the lithium-ion battery recycling industry.
Read more at GlobeNewswire: Lithium-Ion Battery Recycling Market to Hit USD 42.09