The report “Electric Vehicle Battery Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027” has been added to from ResearchAndMarkets.com offer.
The global electric vehicle (EV) battery recycling market reached a value of US$1.77 billion in 2021. Looking ahead, the market is expected to reach a value of US$8.66 billion by 2027, posting a CAGR of 28.70% in 2022-2027. .
Companies cited
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ACCUREC-Recycling GmbH
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American Manganese Inc.
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Batteries
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G&P Batteries Limited
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Li-Cycle Corp.
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Recovery technologies
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SITRASA
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SNAM Group (Floridienne)
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TES-Amm
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Umicore AG
Keeping in mind the uncertainties of COVID-19, the analyst continuously monitors and assesses the direct and indirect influence of the pandemic. This information is included in the report as a major market contributor.
The recycling of electric vehicle (EV) batteries relies on two procedures, namely pyrometallurgy/smelting and hydrometallurgy, which are used separately or in combination with each other. It focuses on recovering cathode metals from a battery, such as nickel (Ni), cobalt (Co), aluminum (Al), iron (Fe) and lithium (Li), to reduce reliance on heavy mining for battery development. In addition to this, as it can prevent hazardous materials from entering the waste stream at the end of life (EOL) of a battery, the demand for EV battery recycling is increasing across the world.
As there is currently an increase in electric vehicle sales, the number of electric vehicle batteries requiring proper management at EOL is also increasing. This, in confluence with the booming automobile industry, represents one of the major factors positively influencing the market.
In addition, leading players are developing new recycling technologies, such as direct recycling or cathode-to-cathode recycling, to recover metals, minerals, chemicals and chemical powders suitable for direct sale to battery manufacturers. This approach differs from the current process of producing metal-loaded materials directed to smelters to refine and recover Ni, Co and other cathode materials as separate metals.
In addition, governments in many countries are increasing their spending on direct purchase incentives and tax deductions for electric vehicles. They are also setting up the Electric Vehicles Initiative (EVI), which aims to accelerate the adoption of electric vehicles around the world. Additionally, several campaigns have been launched by global organizations to support the market for buses, trucks, electric passenger cars, and light utility vans (LCVs). This, coupled with the depletion of non-renewable metal resources, facilitates the growth of the market.
Key questions answered by this report
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How has the global electric vehicle battery recycling market performed so far and how will it perform in the coming years?
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What has been the impact of COVID-19 on the global electric vehicle battery recycling market?
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What are the main regional markets?
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What is the market breakdown by type?
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What is Process Based Market Breakout?
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What is the market breakdown by type of vehicle?
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What is the market breakdown by application?
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What are the different stages of the industry value chain?
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What are the key drivers and challenges in the industry?
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What is the structure of the global electric vehicle battery recycling market and who are the key players?
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How competitive is the industry?
Main topics covered:
1 Preface
2 Scope and methodology
3 Executive summary
4 Presentation
4.1 Overview
4.2 Key Industry Trends
5 Global Electric Vehicle Battery Recycling Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakdown by Type
7 Market Breakdown by Process
8 Market Breakdown by Vehicle Type
9 Market Breakdown by Application
10 Market Breakdown by Region
11 SWOT Analysis
12 Value chain analysis
13 Analysis of the five forces of carriers
14 Price Analysis
15 Competitive Landscape
15.1 Market structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/y4kh3n
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220513005422/en/