Lithium ion battery recycling market sample extract (with data) | IndustryARC

LITHIUM-ION BATTERY RECYCLING MARKET
By Chemistry, By Process, By Source of Scrap Batteries and By Geography; Forecast 2020 – 2025
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LITHIUM-ION BATTERY RECYCLING MARKET OVERVIEW
CHAPTER - 01

1. MARKET OVERVIEW
Market Definition
Scope
Lithium-ion Battery Recycling Market Revenue,
2019-2025, ($M)
 Growth in the Lithium-ion battery recycling
market is due to the government's push for
electric vehicles coupled with rising demand
for smart devices. In addition, the growing
awareness of the environmental hazards
associated with lithium-ion batteries propels
the companies to recycle the batteries,
driving the growth of the global lithium-ion
battery recycling market.
 Regions such as China and Europe have
released regulations on Recycling of Motive
Lithium Ion Batteries, owing to the growing
community concern about the impact of
waste lithium ion batteries on the
environment and public health.
 Various governments such as of Germany are
promoting people to give their batteries back
for recycling. Such initiative by government is
supporting Li-ion battery recycling market.
Source: IndustryARC Analysis, Expert Insights
Lithium-ion Battery Recycling Market
 Lithium-ion battery contains various harmful
chemicals and heavy metals including cobalt,
copper, nickel sulfate, aluminum, and graphite.
The disposal of these toxic materials raises
concern regarding water pollution and
contamination of the soil. Therefore, recycling
processes for lithium ion batteries are needed to
prevent a future shortage of cobalt, nickel, and
other raw materials and to allow for a
sustainable life cycle of these technologies.
 The market is segmented by process, by
source of scrap batteries, and by chemistry.
 The market is also segmented by geography,
which include North America, Europe, APAC,
and RoW.
 The lithium-ion battery recycling market is driven
by the below mentioned factors:
 The growth in electric and hybrid vehicles
demand is expected to boost the lithium-ion
battery recycling market.
 Limited availability of the raw materials used
in lithium-ion battery manufacturing and high
demand from various end-use industries fuels
the market for lithium-ion battery recycling.
2,338.47
2,838.14
3,474.91
4,293.52
5,355.54
6,746.50
8,586.34
-
2,000.00
4,000.00
6,000.00
8,000.00
10,000.00
2019 2020 2021 2022 2023 2024 2025
Revenue($M)
Page . 4

1. MARKET OVERVIEW
By Process, Revenue CAGR 2020-2025 (%)
Lithium-ion Battery Recycling Market Revenue Share,
By Process, 2019 (%)
Lithium-ion Battery Recycling Market Revenue Share, By Source of
Scrap Batteries, 2019 (%)
By Source of Scrap Batteries , Revenue CAGR
2020-2025 (%)
48%
36%
5%
11%
Hydrometallurgical Process
Pyrometallurgy Process
Physical/Mechanical Process
Others
22.30%
27.13%
24.94%
26.57%
0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00%
Others
CAGR (%)
75%
13%
5%
5% 2%
Electronics
Automotive
Power
Industrial
Others
14.98%
47.65%
32.49%
26.19%
37.23%
0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00%
Electronics
Automotive
Power
Industrial
Others
CAGR (%)
Page . 5

1. MARKET OVERVIEW
By Chemistry, Revenue CAGR 2020-2025 (%) By Geography, Revenue CAGR 2020-2025 (%)
Lithium-ion Battery Recycling Market
Revenue Share, By Geography, 2019 (%)
Lithium-ion Battery Recycling Market Revenue
Share, By Chemistry, 2019 (%)
69%
9%
4%
10%
6% 2% Lithium-Cobalt Oxide (LCO)
Lithium Iron Phosphate (LFP)
Lithium-Manganese Oxide (LMO)
Lithium-Nickel Cobalt Aluminum Oxide (NCA)
Lithium-Nickel Manganese Cobalt (Li-NMC)
Others (Lithium-Titanate Oxide (LTO) and
others)
20.06%
41.96%
27.23%
25.46%
32.26%
25.08%
0.00% 5.00%10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%
Lithium-Cobalt Oxide (LCO)
Others (Lithium-Titanate Oxide (LTO) and others)
CAGR (%)
9%
15%
74%
2%
North America
Europe
APAC
RoW
30.40%
28.53%
23.19%
22.29%
0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00%
North America
Europe
APAC
RoW
CAGR (%)
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Page . 7
EXECUTIVE SUMMARY
CHAPTER - 02

2. EXECUTIVE SUMMARY (1/2)
 Pyrometallurgy Process dominates the lithium-ion battery recycling
market and is forecasted to grow at a CAGR of 27.13% during the
forecast period.
 Using this process, cobalt, nickel and copper are recovered effectively,
whereas lithium and aluminum are lost in slag.
 The pyrometallurgical processes are often coordinated with
hydrometallurgical processes to recycle the valuable metals. The demand
of pyrometallurgical processes for recycling lithium ion batteries is high.
Share, By Process, 2019 (%)
Share, By Source of Scrap Batteries, 2019 (%)
 Electronics segment is the major lithium-ion battery recycling market and is
forecasted to grow at a CAGR of 14.98% during the forecast period.
 Lithium-ion batteries are widely used in electronic devices such as laptops,
cell phones and power tools due to which the growth of electronic devices
leads to growth in usage of lithium-ion batteries which further drives the
lithium-ion battery recycling market.
48%
36%
5%
11%
Others
75%
13%
5%
5% 2%
Electronics
Automotive
Power
Industrial
Others
Page . 8

2. EXECUTIVE SUMMARY (2/2)
By Chemistry, 2019 (%)
By Geography, 2019 (%)
 Lithium-Cobalt Oxide (LCO) holds the largest share in the lithium-ion
battery recycling market and is forecasted to grow at a CAGR of 20.06%
during the forecast period.
 The Lithium-Cobalt Oxide batteries have very stable capacities. The
thermal stability issues are better for Lithium-Cobalt Oxide than other
chemistries, owning to this its demand is high.
 The Asia Pacific is a key region for the lithium-ion battery recycling
market and is forecasted to grow at a CAGR of 23.19% during the
forecast period.
 Established lithium-ion battery manufacturers in the region, in China,
and government regulations under which manufacturers are
responsible for setting up collection and recycling facilities for spent
batteries are fueling the lithium-ion battery recycling market in the
region.
69%
9%
4%
10%
6% 2% Lithium-Cobalt Oxide (LCO)
Others (Lithium-Titanate Oxide (LTO) and
others)
9%
15%
74%
2%
North America
Europe
APAC
RoW
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Page . 10
LITHIUM-ION BATTERY RECYCLING MARKET LANDSCAPE
CHAPTER - 03

3.1. MARKET SHARE ANALYSIS (1/1)
Lithium-ion Battery Recycling Market Share Analysis,
By Company 2019 (%)
Market Concentration Analysis
2025
2019
Consolidated
Fragmented
 Biggest Companies are Shenzhen Green Eco-manufacturer Hi-Tech Co. (GEM), Valdi (ERAMET), and Umicore Battery Recycling with the share of 21%, 13% and 4%,
respectively. Whereas, other major companies such as JX Nippon Mining and Metals Co. and Accurec Recycling GmbH includes 3% and 2% respectively.
 Shenzhen Green Eco-manufacturer Hi-Tech Co., through its broad range of products and innovations, has been successful catering to a variety of customers.
Monitoring its future business involvements, IndustryARC analysts expect Shenzhen Green Eco-manufacturer Hi-Tech Co., to maintain its position in the market.
21%
13%
4%
3%
2%2%
1%
54%
Shenzhen Green Eco-manufacturer Hi-Tech Co.
(GEM)
Valdi (ERAMET)
Umicore Battery Recycling
JX Nippon Mining and Metals Co.
Accurec Recycling GmbH
AkkuSer Oy
Retriev Technologies Inc.
Others
Page . 11

Lithium-ion Battery Recycling Market Published
Patents, 2015–2019
3.2. PATENT ANALYSIS
Lithium-ion Battery Recycling Market Published
Patents Share, By Countries, 2015–2019 (%)
 From last 5 years (2015–2019), about 22 patent activities have been recorded on Lithium-ion Battery Recycling . Currently in 2019, about 5 patent activities have been
recorded.
 From 2015 to 2019, China dominates in patent activities worldwide holding 79% share of the number of patents followed by the United States and Canada, with 14% and 7%
respectively.
 The patent analysis has been performed to understand the developments being carried out in the market with regard to Lithium-ion Battery Recycling between 2015 and
2019.
 The major applicants who have been granted patents in the field are UNIV HENAN NORMAL and JINCHUAN GROUP CO LTD among others.
Lithium-ion Battery Recycling Market Published Patents
Share, By Applicants, 2015–2019 (%)
Source: IndustryARC Analysis, Expert Insights Source: IndustryARC Analysis, Expert Insights Source: IndustryARC Analysis, Expert Insights
2
1
5
9
5
0
1
2
3
4
5
6
7
8
9
10
2015 2016 2017 2018 2019
No.ofpatents
79%
14%
7%
China
United States
Canada
9%
9%
4%
4%
5%
5%
64%
UNIV HENAN NORMAL
JINCHUAN GROUP CO LTD
UNIV CENTRAL SOUTH
DONGGUAN YISHUN NEW MAT CO
LTD
CN ELECT TECH NO 18 RES INST
WUXI JIANGSU WEIFENG PRINTING
MACHINE CO LTD
OTHERS
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Page . 13
LITHIUM-ION BATTERY RECYCLING MARKET FORCES
CHAPTER - 04

4.1. DRIVERS - IMPACT ANALYSIS (1/4)
Lithium-ion Battery Recycling Market- Drivers
Source: IndustryARC Analysis & Expert Insights
Drivers
Short Term
(2019-2021)
Medium Term
(2022-2023)
Long Term
(2024-2025)
Increasing government regulations and policies to promote and encourage more
recycling and reuse of Li-ion batteries.
Limited raw materials availability and high lithium-ion battery demand
Rising demand for electric and hybrid electric vehicles .
Low High
Page . 14

4.1. DRIVERS - IMPACT ANALYSIS (2/4)
Increasing government regulations and policies to promote and encourage more recycling and reuse of Li-ion batteries.
 The occurrence of different potential environmental as well as human health impacts of lithium-ion batteries has led the various health authorities to propose
stringent government regulations and policies to promote and encourage more Li-ion battery recycling and re-use.
 In order to curb these issues, various governments have taken several initiatives.
 For instance, in Germany, the law has mandated that the expired batteries be submitted to the designated stores for recycling.
 In addition, in September 2015 China released its regulations on the Recycling of Motive Lithium-Ion Batteries, which encourage Evs (Electric Vehicles)
manufacturers to set up their own Li-ion battery recycling infrastructure.
 The European Union adopted the Battery Directive in 2006, which is intended to control and recycle the batteries in general. The Battery Directive is intended to
help the EU to protect, and preserve the environment by minimizing the negative impact of waste batteries. According to the European Portable Battery
Association (EPBA), the batteries obtained are recycled to reuse and recover contained metals, instead of disposing of them. These trends are helping the major
players in the market to establish a strong foothold over the market.
Limited raw materials availability and high lithium-ion battery demand
 Raw materials used to manufacture lithium-ion battery are limited, in comparison to its demand from different end-use industries such as automotive, power, and
consumer electronics, among others. Furthermore, the materials used in the batteries are hazardous to the environment. Recycling of lithium-ion batteries will
allow better and long-term usage thereby controlling the manufacturing process resulting in lower carbon-dioxide emissions. Therefore, these factors are driving
the lithium- ion battery recycling market.
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Page . 16
STRATEGIC ANALYSIS
CHAPTER - 05

5.1. VALUE CHAIN ANALYSIS
Spent
Lithium-ion
batteries
Dismantled
scraps
AI foils
• Cathodes
• Separator
• Anodes
• Metallic
Shells
CU Foils
Active
Materials
Recycled directly
Recycled directly
For leaching
Cell Production
& Battery Pack
Assembly
Battery
Material
Production
Mining &
Refining
• Mixing
• Coating
• Drying
• Calendaring
• Notching
• Stacking
• Welding &
Sealing
• Electrolyte
filling
• Final sealing
• Pre-charging
• Dry Room
• Battery pack
assembly
• NMC Powder
Production
• Co-precipitation
• 1st stage
calcination
• Mineral
mining
• Metal
refining
Recycling
Recycling
processes
• Pyrometallur
gical
• Biometallurgi
cal
• Hydrometallu
rgical
• Others
End Use
industry
• Consumer
Electronics
• Automotive
• Marine
• Industrial
• Others
Page . 17

5.1. VALUE CHAIN ANALYSIS
 Unlike other batteries, lithium-ion batteries frequently blow up due to radical oxidation during the recycling process, which is caused by the mechanical shock of
lithium metal created by battery overload from air exposures. Therefore a preliminary treatment of spent LIBs is done before recycling.
 The majorly used processes for recycling spent LIBs are pyrometallurgy, hydrometallurgy and biometallurgy.
 Pyrometallurgical processes are often associated with high emissions of gases, and require strict filtration requirements for gases.
 Hydrometallurgy is well-established process for the separation and recovery of metal ions, with benefits such as complete recovery of high purity metals, low
energy consumption, minimization of wastewater and no emission of gases. It consists mainly of acid leaching, chemical precipitation, chemical substitution,
solvent extraction, process of hydrothermal reaction, crystallization, and methods of electrochemistry.
 The biometallurgical processes due to their higher efficiency, lower cost and lower industrial requirements, are gradually replacing the hydrometallurgical
processes, but the treatment time is longer and the bacteria needed are hard to incubate.
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Page . 19
- BY PROCESS
CHAPTER - 06

6.1. HYDROMETALLURGICAL PROCESS
 Hydrometallurgical process is a most suitable method for recycling of spent lithium-ion batteries via
pretreatment, leaching and separation of valuable metals from leaching solution.
 Pretreatment process is essential for spent lithium-ion batteries in order to separate their different
components and obtain the cathode active materials which will be used for the subsequent leaching
process.
 The aim of leaching, which is the key step for the recovery of valuable metals from spent lithium-ion
batteries in the whole hydrometallurgical process is to convert the metals in the cathode active
materials obtained from pretreatment process to ions in a solution.
 After leaching the cathode active materials, most valuable metals including Li, Co, Ni, Mn, Cu, Al, Fe
go into the leaching solution. In order to separate the valuable metals from the complex solution, a
large number of methods have been proposed, such as solvent extraction, chemical precipitation
and electrochemical deposition.
 Solvent extraction is widely used in various hydrometallurgy processes and proved to be an
efficiency method for the separation of valuable metals, due to the high selectivity of extractants for
different metal ions.
 Hydrometallurgical process is the most used process due to its advantages such as ease of
processing, highly pure product with fewer gas emissions and lower energy demands.
Hydrometallurgical Process: Lithium-ion Battery
Recycling Market Revenue, 2019-2025 ($M)
1,115.67
1,327.72
1,593.75
1,930.30
2,359.80
2,912.97
3,632.21
-
500.00
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
3,500.00
4,000.00
2019 2020 2021 2022 2023 2024 2025
Revenue($M)
Page . 20

6.2. PYROMETALLURGY PROCESS
 Pyrometallurgical treatment for the recycling of lithium ion batteries uses high temperature smelting
procedures to recover cobalt and nickel as alloys.
 Using this process, cobalt, nickel and copper are recovered effectively, whereas lithium and
aluminum are lost in slag. The slag needs to be treated in a hydrometallurgical process to recover
lithium.
 The pyrometallurgical processes are often coordinated with hydrometallurgical processes to recycle
the valuable metals. For instance, in the VAL’EAST process adopted by Umicore, the spent lithium-ion
batteries are smelted in a furnace first to obtain Co-Ni-Cu-Fe alloy. And then, the Co, Ni, Cu are
recovered from the alloy by hydrometallurgical processes.
 By combining a unique pyro-metallurgical treatment and a state-of-the-art hydro-metallurgical
process, Umicore is recylcing all types and all sizes of Li-ion and NiMH batteries in the most
sustainable way.
 However, in pyrometallurgical process, the acetylene black, organic electrolyte and binder in the
spent lithium-ion batteries are usually burnt off which cause a high energy consumption and
emission of hazardous gases, due to which this process is not commonly used when compared to
hydrometallurgical process.
Pyrometallurgy Process: Lithium-ion Battery Recycling
Market Revenue, 2019-2025 ($M)
854.56
1,059.21
1,323.30
1,667.03
2,118.41
2,716.70
3,517.38
-
500.00
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
3,500.00
4,000.00
2019 2020 2021 2022 2023 2024 2025
Revenue($M)
Page . 21

Page . 22
- BY SOURCE OF SCRAP BATTERIES
CHAPTER - 07

7.1. ELECTRONICS
 Lithium-ion batteries are widely used in electronic devices such as laptops, cell phones and power
tools due to which the growth of electronic devices leads to growth in usage of lithium-ion batteries
which further drives the lithium-ion battery recycling market.
 One of the major reasons for need to the recycle lithium-ion batteries in electronics is that modern
electronics contain circuit boards that smolder together various metals and plastics.
 Some of these materials are toxic and there is a need to keep those toxins out of landfills, where they
can contaminate the soil and water.
 Hence recycling of lithium-ion batteries protects environment and lowers the cost of manufacturing
new products.
 Recycling of lithium-ion batteries is highly efficient as they offer a large amount of energy in a tiny
package which helps to keep electronic like phone or laptop running all day.
 According to international trade statistics, global sales from cellphone exports by country totaled
US$288.9 billion in 2018.
 Overall the value of worldwide cellphone shipments rose by an average 14.6% for all exporting
countries since 2014 when exported cellphones were valued at $252.6 billion. Year over year, export
sales of cellphones appreciated by 12.9% from 2017 to 2018.
 Hence, rise in exports of electronics like cellphones leads to increase in usage of lithium-ion batteries
which in turn drives the lithium-ion battery recycling market.
Electronics: Lithium-ion Battery Recycling Market
Revenue, 2019-2025 ($M)
Source: ITC (InternationalTrade Centre)
51%
13%
11%
6%
4%
2%
2%
2% 2%
2%
2%
1% 0%
1%
1%
China
Vietnam
Hong Kong
United Arab Emirates
United States
Czech Republic
South Korea
Germany
Austria
Singapore
Slovakia
Sweden
Thailand
Netherlands
Italy
Cellphone Exports by Country, 2019
1,743.28
2,031.14
2,366.57
2,751.28
3,180.81
3,638.13
4,082.07
-
500.00
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
3,500.00
4,000.00
4,500.00
2019 2020 2021 2022 2023 2024 2025
Revenue($M)
Page . 23

7.2. AUTOMOTIVE
 Lithium-ion batteries have a significant demand in electric automobiles because of high
power density and compact size. The market for lithium-ion battery recycling is influenced
by the rising demand for electric as well as hybrid electric vehicles where lithium-ion
batteries are used extensively.
 The lithium ion battery is one of the major power source for electric vehicles (EVs) which is
directly proportionate to the demand of EVs, hence the growth in the electric vehicle will
automatically boosts the lithium-ion battery demand. Which further increase the recycling
need after the used batteries being a scrap.
 According to forecast by the International Energy Agency, electric car deployment has been
growing rapidly over the past ten years, with the global stock of electric passenger
cars passing 5 million in 2018, an increase of 63% from the previous year.
 According to statistics by Edison Electric Institute (EEI), global EV sales totaled about 2.1
million for 2018, an increase of 64% compared to the total sold in 2017.
 Thus, adoption of electric vehicles results in a price hike of battery materials such as
lithium and cobalt, therefore making the recycling of lithium-ion battery industries more
profitable.
 According to the statistics revealed by International Energy Agency, transportation sector
holds nearly 23% of the total greenhouse emissions. This is acting as a stimulating factor
for increasing the usage of Li-ion batteries in automobiles which will eventually lead to the
increased battery recycling.
Automotive: Lithium-ion Battery Recycling Market
Revenue, 2019-2025 ($M)
663
306
200
56
52
1182
409
358
53
97
0 200 400 600 800 1000 1200 1400
China
Europe
U.S.
Japan
Other
No of EVs Sold (Thousands)
2018 2017
Source: EEI
GLOBAL EV SALES 2017 VS. 2018
302.90 434.88
629.91
920.86
1,359.16
2,026.20
3,052.07
-
500.00
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
3,500.00
2019 2020 2021 2022 2023 2024 2025
Revenue($M)
Page . 24

Page . 25
- RECYCLING BY CHEMISTRY
CHAPTER - 08

8.1. LITHIUM-COBALT OXIDE (LCO)
 Lithium-cobalt oxide is used as the cathode in some rechargeable lithium-ion
batteries. Batteries produced with lithium-cobalt oxide cathodes have very stable
capacities but have lower capacities and power when compared to cathodes based
on nickel-cobalt-aluminum (NCA) oxides.
 Its high specific energy makes Li-cobalt the popular choice for mobile phones, laptops
and digital cameras. The LCO battery consists of a cobalt oxide cathode and a
graphite carbon anode. The cathode material contains 60% cobalt and accounts for
50% of the weight of the cathode.
 Previously, the most commonly used and successfully commercialized Li-ion battery
used was lithium-cobalt oxide(LCO), but due to limitations of LCO, such as the
fluctuating costs of cobalt and poor thermal stability it is being replaced by other
lithium-ion batteries.
 According to the International Institute for Sustainable Development (IISD), the prices
of cobalt and lithium are projected to increase in line with growing EV battery
demand. Tesla has reduced its cobalt dependency for EV batteries by approximately
60% in 2018.
 However, lithium-cobalt oxide excels on high specific energy but offers only moderate
safety, performance specific power and life span.
Lithium-Cobalt Oxide (LCO): Lithium-ion Battery
Voltages 3.60V nominal; typical operating range 3.0–4.2V/cell
Specific energy
(capacity)
150–200Wh/kg. Specialty cells provide up to 240Wh/kg.
Charge (C-rate)
0.7–1C, charges to 4.20V (most cells); 3h charge typical.
Charge current above 1C shortens battery life.
Discharge (C-rate)
1C; 2.50V cut off. Discharge current above 1C shortens battery
life.
Cycle life 500–1000, related to depth of discharge, load, temperature
Thermal runaway 150°C (302°F). Full charge promotes thermal runaway
Applications Mobile phones, tablets, laptops, cameras
Comments
Very high specific energy, limited specific power. Cobalt is
expensive. Serves as Energy Cell. Market share has stabilized.
Characteristics of Lithium-Cobalt Oxide (LCO)
1,619.39
1,916.95
2,281.20
2,728.23
3,277.66
3,952.96
4,781.17
-
1,000.00
2,000.00
3,000.00
4,000.00
5,000.00
6,000.00
2019 2020 2021 2022 2023 2024 2025
Revenue($M)
Page . 26

8.2. LITHIUM IRON PHOSPHATE (LFP)
 Lithium iron phosphate (LiFePO4) batteries are lightweight and versatile which make them
superior compared to other battery technologies. They have a long lifespan and a fast recharge
rate. They can also withstand heat, cold, collision, and mishandling during charging and
discharging without risk of combustion.
 The key benefits of using lithium iron phosphate battery are high current rating and long cycle life,
besides good thermal stability and enhanced safety.
 Li-phosphate is more tolerant to full charge conditions and is less stressed than other lithium-ion
systems if kept at high voltage for a prolonged time.
 They have great potential to help reduce carbon emissions when used in wind and solar power
systems. Lithium iron phosphate batteries pose far less risk to the environment than lead-acid
batteries. They can also be recycled to recover the materials used in their wiring, electrodes and
casings. Some of this material can be used in new lithium batteries.
 Phosphate salts are less soluble compared to other metal oxides, due to which they are less likely
to leach into the environment if the battery is improperly discarded.
 LiFePO4 batteries are chemically stable against combustion and rupture under nearly all operating
and storage conditions.
 As lithium iron phosphate (LFP) batteries are most widely used, the benefits of this technology for
the environment is expected to grow.
Lithium Iron Phosphate (LFP): Lithium-ion Battery
199.75
275.86
384.30
540.23
766.60
1,098.51
1,590.22
-
200.00
400.00
600.00
800.00
1,000.00
1,200.00
1,400.00
1,600.00
1,800.00
2019 2020 2021 2022 2023 2024 2025
Revenue($M)
Page . 27

Page . 28
- BY GEOGRAPHY
CHAPTER - 09

9.3. ASIA PACIFIC (APAC)
9.3.1 China
 Driven by the boom in electric vehicles (EV), which resulted in a 3-fold increase in lithium prices and a 4-fold increase
in cobalt prices between 2016 and 2018, it has recently become profitable to recover lithium, cobalt, manganese
and nickel from spent lithium ion batteries. Numerous new recycling plants for lithium batteries have begun
operations across the country, and the existing ones are expanding their capacity.
 In China, the former scrap firm Hunan Brunp Recycling Technology, a subsidiary of lithium-ion battery pioneer CATL
since 2015, recycled approximately 30 000 tons of batteries last year.
 Quzhou Huayou Cobalt New Material has a lithium-ion battery recycling capacity of approximately 60,000 tons per
year and recycled around 10,000 tons in 2018.
 Increasing demand of lithium ion batteries from the electronics industry present in the country is also resulting in
the surge for the recycling of lithium ion batteries and in turn in helping in the growth of the market.
 China released its regulations on the Recycling of Motive Lithium Ion Batteries in 2015, which encourages
manufacturers of EVs to establish their own LIB (Lithium Ion Battery) recycling infrastructure.
 Chinese firms invested in South Korea battery recycling partnership. New Joint venture with Taisen Recycling in
South Korea will receive waste batteries from overseas at the refinery and export the lithium ion batteries raw
materials to China for the final process of Cobalt, Nickel, 3-1 Compound (Co, Ni, Mn) and lithium Carbonate battery
grades.
 Driven by the enormous quantity of spent Li-ion batteries expected soon from aging electric vehicles and ubiquitous
portable electronics, start-up companies are commercializing new battery-recycling technology.
 According to the International Energy Agency,
China accounted for 60% of the 2.1 million
electric vehicles sold worldwide in the year
2018.By 2030, global plug in car sales are
expected to be between23 million and 43
million annually.
China : Lithium Ion Battery Recycling
Market, Revenue, 2019-2025 ($M)
1,301.01
1,554.93
1,873.47
2,276.24
2,789.77
3,450.17
4,307.02
-
500.00
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
3,500.00
4,000.00
4,500.00
5,000.00
2019 2020 2021 2022 2023 2024 2025
Revenue($M)
Page . 29

Page . 30
LITHIUM-ION BATTERY RECYCLING MARKET ENTROPY
CHAPTER - 10

10 . LITHIUM-ION BATTERY RECYCLING MARKET ENTROPY (1/1)
Source: IndustryARC Analysis, Company Annual Reports,
Company Websites, Investor Presentations
 The Lithium-ion Battery Recycling Market is studied by
conducting a comprehensive analysis of the strategies
adopted by the companies profiled for the report. The
key strategies are considered for the period 2017–2019
and it includes Expansion, Investment, Acquisition,
Collaboration, Merger, Joint Venture and partnership.
Lithium-ion Battery Recycling Market Development
Share, By Strategies, 2017–2019 (%)
Lithium-ion Battery Recycling Market : Total Number
of Developments, By Year, 2017–2019
Lithium-ion Battery Recycling Market: Total Number of
Developments, By Company, 2017–2019
 The total number of developments in 2019 increased
progressively from 2018, due to the developments were
focused on Expansions and Acquisitions for offerings new
products.
 In the coming years, many companies will try to expand
their business by innovating new processes of Lithium-ion
Battery Recycling by either collaborating with the
companies having the required core competency or by
making relevant acquisitions.
* Till January 2020*
22%
5%
33%
17%
6%
11%
6%
Expansion
Investment
Acquisition
Collaboration
Merger
Joint venture
partnership
6
5
7
0
1
2
3
4
5
6
7
8
2017 2018 2019
2
1
2
1 1
3 3 3
2
0
0.5
1
1.5
2
2.5
3
3.5
 The key players of Lithium-ion Battery Recycling Market are
Shenzhen Green Eco-manufacturer Hi-Tech Co. (GEM) , TES-
AMM, Umicore Battery Recycling are adopting more
number of acquisitions and joint venture as their key
strategies to sustain in the market.
Page . 31

Page . 32
COMPANY PROFILES
CHAPTER - 11

11.1 ACCUREC RECYCLING GMBH (1/1)
Source: Company Website
Business Overview
Accurec Recycling GmbH Description
Establishing Year 1995
Headquarters Germany
Website https://accurec.de/
Accurec Recycling GmbH : Process Portfolio
Process Category Description
Lithium Battery Recycling
Accurec’s EcoBatRec process meet the requirements of recycling
efficiency and optimized material evaluation.
Financials:
Accurec Recycling GmbH is a privately held company and does not disclose its financial on public domain.
Date Approach Description
March 15, 2018 Expansion
Accurec Recycling GmbH has expanded its second phase of construction of Krefeld Plant. The plant is used
for Li-battery recycling where 4,000 tons of Li-batteries have been treated within 2 years time. The facility
is going to optimize its logistic center, expansion of high security warehouse, sorting and completion of
process chain.
November 7, 2017 Investment
Accurec Recycling GmbH has signed a long term contract with Currenta Environment to strengthen their
cooperation in recycling of lithium batteries. Accurec invested 10 Million Euro within one year to build the
most modern processing plant for Li-battery scraps.
Accurec Recycling GmbH : Developments
Page . 33

Page . 34
RESEARCH METHODOLOGY
CHAPTER - 12

RESEARCH METHODOLOGY
Source: Expert Insights and IndustryARC Analysis
1 6
5
43
2
VERIFICATION
• Dedicated for thorough check of all data points that have been incorporated and
rechecked against various data sources
• Key data points are collected from paid secondary databases and successively
validated from primary sources.
• The market shares are further validated through expert interviews with key
industry players, with respect to specific segments
FORECAST METHODOLOGY
• The time series forecasting methodology is applied based on the overall industry
growth along with the assessment of micro and macro factors prevalent in the
industry
• The forecasting model is an iterative tool and is backed by historical trends of the
market along with a regressive mathematical model that assesses the value based
on factors such as capital expenditure, service cost, and so on.
DATA GATHERING
• A number of secondary sources have been utilized for data gathering
• Various trade bodies and associations were taken into consideration to
understand the dynamics of the market.
DATA SYNTHESIS
• At this stage, the micro and macro factors prevalent in each region as
well as the global factors are analysed and various patterns in historical
data are identified and compared with the current scenario
• Companies are identified and a detailed analysis is carried out on the
products made by the companies.
DATA ANALYSIS
• After the corroboration of data, the team of analysts moves toward understanding
how the market has evolved over the years
• The overall market size is gathered after analysing various segments and verticals of
the market
• An impact analysis is also carried out to fathom the factors that would possibly
affect the market in the next few years
• Bottom-up approach along with statistical modelling based on the various factors
was applied while estimating value for each of the segments. It was estimated
through primary as well as secondary sources across major countries and regions.
PRELIMINARY RESEARCH
• Defined market scope
• Key points such as market trends, performance and market dynamics for the
lithium-ion battery recycling are identified, which are then used to estimate the
market to the best extent.
Page . 35

SECONDARY SOURCES
Source: Expert Insights and IndustryARC Analysis
S.No SOURCES
1 Portable Rechargeable Battery Association (PRBA)
2 European Battery Recycling Association (EBRA)
3 The Battery Association of Japan (BAJ)
4 Rechargeable Battery Recycling Corporation (RBRC)
5 CalRecycle (Department of Resources Recycling and Recovery)
6 California Environmental Protection Agency (CalEPA)
7 NAATBatt International
8 RECHARGE (The Advanced Rechargeable and Lithium Batteries Association)
9 Bureau of International Recycling (BIR)
10 Sustainable Electronics Recycling International (SERI)
Secondary Sources: Lithium-ion Battery Recycling Market (Partial List)
Secondary Sources: Company financials, magazines, journals, press releases, paid databases, in-house data repository, company websites, Manufacturer’s
Associations, journals and white papers.
Page . 36

Thank You!
IndustryARC
+1 614-588-8537/38
sales@IndustryARC.com
Page . 37

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