North America Lithium-Ion Battery Recycling Market is Predicted To Rise At A Lucrative Cagr Throughout 2019 To 2026

Lithium-ion battery recycling is referred to be the less toxic batteries which are easy to recycle and reuse. With the growing use of lithium ion batteries in various consumer products the danger of explosion and their disposal has become tough. In order to prevent such disasters, it is quite necessary to recycle the lithium ion batteries. Recycling of lithium ion batteries can be done through various technological procedures such as hydrometallurgical process, pyro-metallurgy process and other mechanical processes. The vast growing applications of lithium ion batteries in the end-use industries such as power generation, automotive, marine, etc. are boosting the market for lithium ion battery recycling globally.
North America lithium-ion battery recycling market is expected to register a healthy CAGR in the forecast period of 2019-2026.

Drivers: Lithium-Ion Battery Recycling Market

  • Effective use of lithium ion batteries in bio-medical devices
  • Increased use of lithium-ion batteries in automobiles and devices
Restraints:
  • Heavy waste generation in the form of landfills by lithium batteries
  • Transportation of lithium batteries is risky
Opportunity:
  • Lithium-iron phosphate batteries for high-power devices
Challenge:
  • High toxicity leads to major long term problem in human.

Competitive Analysis: North America Lithium-Ion Battery Recycling Market

Some of the major players operating in North America lithium-ion battery recycling market are Tesla, Snam SPA, Umicore, Tes - Amm India Pvt. Ltd., Raw Materials Company, Recupyl, innovative battery recycling, Global Technology Systems, Inc., ACCUREC Recycling GmbH, AKKUSER OY & DIGITOIMISTO ROI, American Manganese Inc., Battery Recycling Made Easy, Ganfeng Lithium Co., Ltd., Interstate Batteries, LI-CYCLE CORP., Lithion Recycling, Neometals Ltd, OnTo Technology, LLC., Retriev Technologies, SITRASA, Storage Battery Systems, LLC among others.
Recent Developments
  • In October 2019, Tesla announced the aim of launching of cars which will run on lithium-ion batteries. Through this launch, the company will explore its product portfolio in the market.
  • In October 2019, American Manganese Inc. announced that they had received a positive result of their initial tests for recycling of lithium ion battery from Kemetco Research for the tier-one companies. Through this positive test, the company will expand its service portfolio in the market.
  • In 2019, Li-Cycle Corp. has just started with the lithium ion battery recycling. The company is planning to develop and expand in lithium-ion recycling technology that can develop large-scale batteries at a low cost.

Segmentation: North America Lithium-Ion Battery Recycling Market

North America lithium-ion battery recycling market is segmented into three notable segments which are chemistry, technology and end-user.
  • On the basis of chemistry, the market is segmented into Lithium-Cobalt Oxide (LI-CO), Lithium-Iron Phosphate (LFP), Lithium-Nickel Cobalt Aluminium Oxide (NCA), Lithium-Nickel Manganese Cobalt (NMC), Lithium-Manganese Oxide Spinal (LMO) and Lithium-Titanate Oxide (LI-TO).
  • On the basis of technology, the market is segmented into hydrometallurgical process, pyrometallurgy process, mechanical process and others.
  • On the basis of end-user, the market is segmented into automotive, power, industrial, marine and others.

Research Methodology: North America Lithium-Ion Battery Recycling Market

Primary Respondents: Key Opinion Leaders (KOL’s): Manufacturers, Distributors, Industrial Professionals. Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers.
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