Lithium-ion Battery Recycling Market 2019
Battery recycling is a recycling activity that aims to reduce the number of batteries being disposed as municipal solid waste. Batteries contain a number of heavy metals and toxic chemicals and disposing of them by the same process as regular trash has raised concerns over soil contamination and water pollution.
Lithium-ion batteries and lithium iron phosphate (LiFePO4) batteries often contain among other useful metals high-grade copper and aluminium in addition to – depending on the active material – transition metals cobalt and nickel as well as rare earths. To prevent a future shortage of cobalt, nickel, and lithium and to enable a sustainable life cycle of these technologies, recycling processes for lithium batteries are needed. These processes have to regain not only cobalt, nickel, copper, and aluminium from spent battery cells, but also a significant share of lithium. In order to achieve this goal, several unit operations are combined into complex process chains, especially considering the task to recover high rates of valuable materials with regard to involved safety issues.
Scope of the Report:
With the continuous development of Li-ion battery and its increasing adoption in a vast industry vertical, a huge requirement for its waste management has emerged up. Moreover, the hiking requirement for Lithium-ion batteries as a major power source in consumer electronic devices and vehicles such as in mobile phones, laptops, tablets and cars is stimulating the future requirement for Lithium–ion battery recycling/ waste management.Overall, the Lithium-ion Battery Recycling market performance is positive, despite the historical fluctuations and weak economic environment.
Lithium-ion Battery Recycling market is fragmented with fierce competition. Umicor is the world leading player in global Lithium-ion Battery Recycling market with the market share of 6.55% in 2018, in terms of revenue, followed by GEM, Brunp Recycling, SungEel HiTech, Taisen Recycling, Batrec, Retriev Technologies, Tes-Amm(Recupyl), Duesenfeld, 4R Energy Corp and OnTo Technology. The top 14 listed companies accounted for 20% of the revenue market share in 2018.
The global Lithium-ion Battery Recycling market is valued at 1039.4 million USD in 2018 and is expected to reach 5220.5 million USD by the end of 2024, growing at a CAGR of 38.1% between 2019 and 2024.
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Market Segment by Companies, this report covers
4R Energy Corp
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Market Segment by Applications, can be divided into
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The energy & power sector is expected to expand due to constant consumer demands. Changing regulations owing to governmental changes, temperamental climatic conditions, and growing pollution levels remain challenges that need to be addressed on an immediate basis.
Power generation companies are training personnel to cater to growing demands of consumers. Training programs have been known to educate on the latest technology and gain expertise on the field. Moreover, latest software can assist in pinpointing abnormalities and anomalies which can pose a bigger threat. The companies in charge of generating power are optimizing assets to increase their operational efficiency adhering to latest standards. Moreover, light bills have been sent to customer emails in order to cut down reliance on paper and promote sustainability.
Companies are adopting transformative models in order to maintain and optimize refineries, wells, plants, and facilities. Positive effects witnessed include increased production at units, improved safety of workers, and lowered maintenance & operation expenditure. Modernization of legacy equipment and upgradation of infrastructure are prime objectives of utilities.
Smart grids are electrical grids which can function as a secure and reliable electricity infrastructure for meeting energy demands of consumers. These comprise smart appliances, smart meters, and renewable energy resources which can compile data gathered through devices to ascertain fluctuations or over usage of these devices. Initiatives to reduce energy consumption by governments will ensure the adoption of these systems. This is exemplified by the seven-year contract between OGE Energy Corporation and Accenture to lower peak demand and peak voltage reduction.
Technology Innovation is probably going to assume a stupendous job with the foundation of networks and related framework. Internet of things will make every single electronic gadget or gear kept running by power a bit more intelligent. Grids and utilities will wind up more brilliant because of increasing demand for energy management and efficiency.
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