The regional Lithium-Ion Battery Recycling market is likely to showcase double digit growth during the forecast period (2021-2027). In the region held the largest share in the electric vehicle car sales as well as accounted for the largest electric vehicle stock. Further, large base of consumer electronics industry in regional countries like China and Japan are some of the factors for the growth of lithium-ion battery recycling market
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With increasing demand of batteries, the concern among environmental bodies is growing to make batteries sustainable after its end life. Moreover, in many countries, it is illegal to dispose the batteries in the trash as batteries consist of corrosive materials and heavy metals that can contaminate the environment. Therefore, recycling of batteries is required to make battery industry value chain profitable and eco-friendly. However, currently, only a very limited number of batteries are recycled. For instance, in Australia, only 2-3% of li-ion batteries are collected and sent for recycling whereas in several developing countries percentage went to below 2%. Currently, companies are mainly focusing on increasing production of batteries, increase battery longevity and charge capacity, and simultaneously reducing the cost of batteries and not in advancing the recycling process. Therefore, a great number of unrecycled batteries went through a high-temperature melting-and-extraction, or smelting, process. These processes are energy intensive and requires large capital and advance equipment’s. However, these processes are not capable of recovering all valuable materials therefore a proper recycling value chain is a need for a sustainable development
For a detailed analysis of the APAC Lithium-Ion Battery Recycling Market browse through https://univdatos.com/report/asia-pacific-lithium-ion-battery-recycling-market-current-analysis-and-forecast-2021-2027/
Similar to most of the industry, COVID-19 had the negative impact on the battery recycling market. Since, recycling of batteries requires a fully efficient supply chain which had been disrupted in the light of COVID-19. Further, in order to curtail the spread of disease, government across the region, had taken several stringent measures like lockdown which has resulted in the factory shutdown or operating with reduced number of manpower thus resulted in the low productivity. Further, collection of battery is the first step of battery recycling process, however, due to the agitation of disease, consumers are not willing to go outside, which has affected the collection of batteries as well.
· Based on process, the market is categorized into hydrometallurgical process, pyrometallurgy process, and physical/mechanical process. Among these, physical/mechanical process held the significant share in the regional lithium-ion battery recycling market owing to its low-cost and negligible requirement of advance technologies. However, due to its non-environment friendly nature, usage of physical/mechanical process is likely to reduce in the foreseeable future
· Based on industry, the market is divided into automotive and non-automotive. Non-automotive is further categorized into industrial, power, marine, and others. Among these, automotive industry is likely to showcase robust growth during the forecast period due to increasing usage of electric vehicles and growing investment in research & development of lithium-ion battery recycling to meet the increase demand from electric vehicles
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For a better understanding of the market adoption of lithium-ion battery recycling, the market is analyzed based on its regional presence in the countries such as China, Japan, South Korea, Australia, India, Taiwan, and Rest of APAC. China had the prominent share in the regional lithium-ion battery recycling market pie. This is mainly ascribed to the increasing awareness among battery manufacturer and government to properly utilize the limited resources and government supporting schemes to promote the recycling activities in the country. Further, country is the largest consumer of electric vehicles therefore to mitigate the supply-demand gap, battery manufacturers are increasingly focusing on battery recycling.
APAC Lithium-Ion Battery Recycling Market Segmentation
Market Insight, by Battery Chemistry
Market Insight, by Battery Component
· Active Material
· Non-Active Material
Market Insight, by Process
· Hydrometallurgical Process
· Pyrometallurgy Process
· Physical/ Mechanical Process
Market Insight, by Industry
· Automotive
Non-Automotive
· Industrial
o Power
o Marine
o Others
Market Insight, by Country
China
Japan
South Korea
India
Australia
Taiwan
Rest of APAC
· Top Company Profiles
Nippon Recycle Center Corporation
Tata Chemicals Ltd.
SK Innovation Co. Ltd.
Umicore S.A.
CATL Co. Ltd.
ENAX Inc.
Envipro Holdings Inc.
Envirostream
Neometals Ltd.
SungEel HiTech Co. Ltd.