Lithium-ion batteries contain heavy metals and hazardous chemicals, so their disposal poses environmental risks like soil and water pollution. The lithium-ion battery recycling market is valued at $8.22 billion in 2019 and is expected to reach $13.38 billion by 2025, growing at a CAGR of 7.20% as recycling helps mitigate pollution risks. Key players in the market include Umicore, GEM, Brunp Recycling, SungEel HiTech, and Taisen Recycling who recycle batteries to recover materials like lithium, cobalt, nickel, and manganese.