Lithium-ion Battery Recycling Market

The global Lithium-ion battery recycling market is projected to grow from USD 16.2 billion in 2024 to USD 56.9 billion by 2032, at a CAGR of 17.0% during the forecast period. The market for recycling lithium-ion batteries is expanding significantly due to a number of factors, chief among them being the growing popularity of electric vehicles (EVs). The necessity for lithium-ion battery recycling and sustainable disposal at the end of their life cycle is becoming more and more important as the global automobile industry moves toward electrification.

Lithium-ion Battery Recycling Companies

Companies such as Glencore (Switzerland), Umicore (Belgium), Cirba Solutions (US), RecycLiCo Battery Materials Inc. (Canada), and Contemporary Amperex Technology Co., Ltd. (China) fall under the winners’ category. These are leading players in the Lithium-ion battery recycling market globally. These players have adopted the strategies of acquisitions, investments, expansions, and partnerships to increase their market shares.

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Umicore (Belgium)

Umicore is a global materials technology and recycling group that operates one of the world’s most sophisticated precious metal recycling facilities. The company manages its lithium-ion battery recycling business through the recycling segment. Umicore offers recycling services for lithium-ion, lithium-polymer, and nickel-metal hydride (NiMH) rechargeable batteries. It caters to various applications, including chemical, electric, electronic, automotive, and special glass. Umicore has a strong global presence with operations in 30 countries and comprises 14 research & development centers. It has an intense and focused research & development team working on areas of improvement and developing new plant technologies.

Glencore (Switzerland)

Glencore is among the world’s largest recyclers and processors of nickel-bearing and cobalt-bearing materials, such as used lithium-ion batteries. The company manages its lithium-ion battery recycling business through the metals & minerals segment. Glencore comprises over 150 mining & metallurgical sites and offshore oil production assets. It has a network of over 90 offices in 50 countries in major regions, such as Asia, Europe, the Americas, Africa, and Oceania, which provides the company a competitive edge over its competitors.

Cirba Solutions (US)

Cirba Solutions, formerly known as Retriev Technologies, is among the global battery recycling and management services leaders. In October 2021, Retriev Technologies acquired Battery Solution, a provider of sustainable solutions for end-of-life batteries. They later merged with Heritage Battery Recycling to become the largest lithium-ion battery recycler in North America. Through its recycling technology, the company processes five types of batteries: lead-acid, NiCad & NiMH, lithium-ion, primary lithium, and alkaline batteries. It has six processing locations, including two lithium-ion operations across North America to recover metals such as lithium, iron, cobalt, nickel, and plastics from spent lithium-ion batteries.

Contemporary Amperex Technology Co., Ltd. (China)

Contemporary Amperex Technology Co., Limited is an energy company catering to passenger vehicles, commercial applications, energy storage systems, and battery recycling. The company recycles lithium-ion batteries through its subsidiary, Guangdong Brunp Recycling Technology (China). It recovers nickel, cobalt, manganese, and lithium from spent digital batteries and auto power batteries. Its waste battery disposal capacity is approximately 120,000 tons per annum and generates nickel manganese cobalt hydroxides (Ternary precursor), nickel manganese acid lithium cobalt (Ternary material), lithium cobalt oxide, cobalt chloride, nickel sulfate, and cobaltous sulfate, with more than 99% recovery rate. Its battery recycling network covers China, Japan, Korea, Taiwan, and the Americas.

RecycLiCo Battery Materials Inc. (Canada)

RecycLiCo Battery Materials Inc., earlier known as American Manganese Inc., recycles battery cathode waste in lithium-ion batteries. It accepts various battery chemistries, including lithium iron phosphate (LFP), lithium manganese oxide (LMO), nickel manganese cobalt (NMC), nickel cobalt aluminum (NCA), and lithium cobalt oxide (LCO). The company recycles cathode scrap or black mass by applying its patented hydrometallurgical cathode recovery process: The RecycLiCo Patented Process can extract up to 100% of lithium, nickel, manganese, and cobalt. These extracted metals are upcycled into higher-value battery materials used in new lithium-ion battery production. Also, the company is interested in exploring and developing minerals and operates mainly in North America.

Related Reports:

Lithium-ion Battery Recycling Market by Source (Automotive, Non-automotive), Battery Chemistry, Battery Components, Recycling Process (Hydrometallurgical Process, Pyrometallurgy Process, Physical/Mechanical Process), and Region - Global Forecast to 2032

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