North America Lithium-ion Battery Recycling Market Trends, Size, Segment and Growth by Forecast to 2030
Market Overview and Dynamics
The North
American lithium-ion battery recycling market is projected to expand from US$
35.90 million in 2019 to US$ 139.56 million by 2027, reflecting a CAGR
of 21.4% from 2020 to 2027. Currently, large-scale pyrometallurgy
facilities dominate lithium-ion battery recycling. These facilities operate at
approximately 1500°C to recover valuable metals such as cobalt,
nickel, lithium, aluminum, and copper, alongside other organic compounds.
However, the high capital investment required for these facilities—primarily
due to the need for emission treatment of toxic fluorine compounds released
during smelting—poses a significant challenge.
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In contrast, hydrometallurgy is emerging as a more
energy-efficient and cost-effective alternative. Researchers are actively
exploring new, lower-cost recycling methods, and some companies have already
initiated pilot-scale recycling tests. As these advancements progress, cost-effective
lithium-ion battery recycling methods are expected to gain traction in the
near future.
Market Introduction
Lithium-ion batteries are becoming crucial and are found in
large proportion among industries including automotive, mining, consumer
electronics and many more. Smartphones, cordless power tools, laptops, tablets,
and grid-energy storage, electric vehicles are the prominent applications where
lithium-ion batteries are used at a massive rate. Companies such as Tesla and
Envirostream are taking necessary steps to promote lithium-ion battery markets.
Factors such as improper disposal of lithium-ion battery, recovery of valuable
metals through disposal of lithium-ion batteries, and government initiatives
for lithium-ion battery recycling are contributing towards the market growth.
In addition, increasing use of electric vehicles among consumers owing to
rising concern towards lowering carbon emission and to comply with stringent
government mandates to lower impact in environment and advent of innovative
& economical methods for recycling lithium-ion batteries is another aspect
contributing towards the market growth. Moreover, growing demand of electric
vehicles (EVs) has created a significant opportunity for the lithium-ion
battery recycling market.
North America Lithium-ion Battery Recycling: Strategic
Insights
Strategic insights for the North America lithium-ion battery
recycling industry provide data-driven analysis of the evolving landscape,
covering current trends, key players, and regional dynamics. These insights
equip stakeholders with actionable recommendations, enabling them to
differentiate themselves by identifying untapped market segments and developing
unique value propositions.
Market Trends and Key Drivers
- Growing
Demand for Sustainable Solutions: As environmental concerns and
regulatory pressures mount, industries are prioritizing battery recycling
to reduce waste and reclaim valuable materials.
- Technological
Advancements: Innovations in recycling processes, such as
hydrometallurgical and direct recycling methods, are improving efficiency
and economic viability.
- Regulatory
Landscape: Government policies and extended producer responsibility
(EPR) programs are shaping the market, creating new compliance challenges
and opportunities.
- Supply
Chain Resilience: The need for domestic recycling capabilities is
growing due to geopolitical factors affecting raw material availability.
Key Players and Competitive Landscape
Leading companies in the North American battery recycling
market are actively investing in capacity expansion, strategic partnerships,
and technological advancements. Notable players include:
- Redwood
Materials: Pioneering closed-loop battery recycling.
- Li-Cycle:
Focused on sustainable recovery processes.
- Umicore:
Leveraging global expertise in material refinement.
- Cirba
Solutions: Specializing in battery lifecycle management.
Actionable Insights for Stakeholders
- Investors:
Identifying high-growth opportunities in technology-driven recycling
startups.
- Manufacturers:
Developing partnerships with recyclers to secure a stable supply of
recovered materials.
- Regulators:
Crafting policies that encourage sustainable battery lifecycle management
while fostering industry growth.
- End-Users:
Understanding cost benefits and environmental impacts of recycling
programs.
Future Outlook
A future-oriented perspective is essential for anticipating
market shifts and positioning for long-term success. With the increasing
adoption of electric vehicles (EVs) and energy storage solutions, the demand
for lithium-ion battery recycling is set to grow significantly. Stakeholders
who proactively adapt to technological advancements and regulatory changes will
gain a competitive edge in this dynamic sector.
Ultimately, leveraging strategic insights enables industry
players to make informed decisions that drive profitability and align with
sustainability goals in the North American lithium-ion battery recycling
market.
North America Lithium-ion Battery Recycling Report Scope
|
Attribute |
Details |
|
Market Size (2019) |
US$ 35.90 Million |
|
Market Size (2027) |
US$ 139.56 Million |
|
Global CAGR (2020-2027) |
21.4% |
|
Historical Data |
2017-2018 |
|
Forecast Period |
2020-2027 |
|
Segments Covered |
By Battery Chemistry |
|
Regions Covered |
North America (US, Canada, Mexico) |
|
Market Leaders |
- American Manganese Inc. |
North America Lithium-ion Battery Recycling Regional
Insights
The geographic scope of the North America Lithium-ion
Battery Recycling refers to the specific areas in which a business operates and
competes. Understanding local distinctions, such as diverse consumer
preferences (e.g., demand for specific plug types or battery backup durations),
varying economic conditions, and regulatory environments, is crucial for
tailoring strategies to specific markets. Businesses can expand their reach by
identifying underserved areas or adapting their offerings to meet local demands.
A clear market focus allows for more effective resource allocation, targeted
marketing campaigns, and better positioning against local competitors,
ultimately driving growth in those targeted areas.
Key Market Segments
In terms of battery chemistry, the lithium-nickel manganese
cobalt segment led the North America lithium-ion battery recycling market in
2019. In terms of industry, consumer electronics segment led the lithium-ion
battery recycling market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for
preparing this report on the lithium-ion battery recycling market in North
America are company websites, annual reports, financial reports, national
government documents, and statistical database, among others. Major companies
listed in the report are American Manganese Inc., Eco-Bat Technologies,
International Metals Reclamation Company (INMETCO), Li-Cycle Corp., Retriev
Technologies, and TES.
Reasons to buy report
- To
understand the North America lithium-ion battery recycling market
landscape and identify market segments that are most likely to guarantee a
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ahead of the race by comprehending the ever-changing competitive landscape
for North America lithium-ion battery recycling market
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plan M&A and partnership deals in North America lithium-ion battery
recycling market by identifying market segments with the most promising
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- Helps
to take knowledgeable business decisions from perceptive and comprehensive
analysis of market performance of various segment form North America
lithium-ion battery recycling market
- Obtain
market revenue forecast for lithium-ion battery recycling market by
various segments from 2020-2027 in North America region.
Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
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