According to a recent study titled ‘Global Lithium Ion Battery (Li-Ion) Recycling Market Analysis, 2020’, available with Market Study Report, global lithium ion battery (Li-Ion) recycling market size is projected to expand at y-o-y growth rate of 16.5% over 2020-2025.
 

As per the findings of the report, launch of several plans to promote adoption of EV in view of regulations imposed by government to reduce vehicle pollution is benefiting global lithium ion battery (Li-Ion) recycling market environment. Moreover, introduction of government subsidies for battery recycling and surging demand for consumer electronics especially in emerging economies are positively impacting the business scenario.
 

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Further, growing utilization of lithium-ion battery in other application areas such backup power in data centers and telecom base stations, or electric scooters/bikes is expected to add considerable momentum to the industry expansion.
 

Based on end user, global lithium ion battery (Li-Ion) recycling market share is fragmented into consumer electronics, power tools, automotive, industrial automation, industrial energy storage systems, and others.
 

Industry experts claim that automotive grabbed majority of the industry share in the recent past and is likely to showcase strong growth trends during the forecast period. This can be ascribed to increasing number of programs and subsidies to encourage the adoption EV, brought forth by carbon emission targets set by various governments. sFor instance, the French government, under the Law on Energy Transition for Green Growth (LTECV), aims install 7 million public and private charging points for EVs by 2030. Meanwhile, India plans to move to 100% electric cars by 2030.
 

The overall lithium ion battery (Li-Ion) industry size is also studied from the perspective of technology, chemistry, and geographical bifurcation.
 

In terms of technology, the market is divided into pyrometallurgy, hydrometallurgy, and direct recycling. Speaking of chemistry, the industry is fragmented into lithium cobalt oxide (LCO), i?? nickel cobalt aluminium (NCA), nickel cobalt manganese (NCM), lithium iron phosphate (LFP), and lithium manganese oxide (LMO). Lastly, the geographical segmentation includes North America, South America, Middle East & Africa, Europe, and APAC.
 

Speaking of the competitive landscape, top contenders in global lithium ion battery (LI-Ion) market sphere are Umicore N.V., SungEel HiTech Co. Ltd., Retriev Technologies, Inc., Redux GmBH, Recupyl SAS, JX Nippon Mining & Metals Corp., Hunan Brunp Recycling Technology Co., Ltd., Glencore plc, GEM Co., Ltd., Fortum Oyj, DOWA Eco-System Co., Ltd., Chemetall GmbH, Batrec Industrie AG, AkkuSer Oy, and Accurec Recycling GmbH.