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Asia Pacific Lithium-ion Battery Recycling Market by Chemistry {Lithium-Cobalt Oxide (LI-CO), Lithium-Iron Phosphate (LFP), Lithium-Nickel Cobalt Aluminium Oxide (NCA), Lithium-Nickel Manganese Cobalt (NMC), Lithium-Manganese Oxide Spinal (LMO), Lithium-Titanite Oxide (LI-TO)}, By Country – (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC), by Technology (Hydrometallurgical Process, Pyrometallurgy Process, Mechanical Process, Others), by End-User (Automotive, Power, Industrial, Marine, Others) - industry analysis, size, share, growth, trends, forecast (2023-2028)

Published: March, 2023
ID: 9295
Pages: 145
Formats: report pdf report excel report power bi report ppt

Asia Pacific Lithium-ion Battery Recycling Market Size (2023-2028):

The Asia Pacific Lithium-ion Battery Recycling market is estimated to rise at a notable compound annual growth rate throughout the foreseen period.

Lithium-ion battery recycling is known to be the less toxic batteries that are easy to recycle and reuse. With the rising employment of lithium-ion batteries in different customer products, the problem of explosion and their disposal has become very hard. In order to avoid such disasters, it is crucial to recycle lithium-ion batteries. Recycling of these lithium-ion batteries can be done through different technological processes like hydrometallurgical processes, pyro-metallurgy processes, and other mechanical procedures. The rising applications of lithium-ion batteries in end-use businesses like power generation, automotive, marine, etc. are fuelling the market for lithium-ion battery recycling in developed regions like the Asia Pacific.

 Resources for lithium-ion battery production are restricted when compared to its call from various end-use businesses. The commercialization of recyclable lithium-ion batteries is taking place, particularly for its applications in the automobile business for hybrid vehicles. Recycling of these lithium-ion batteries can result in better and long-term use, controlling the manufacturing procedure and leading to lower carbon-dioxide emissions. Recycling of used materials further assists in the preservation of natural resources and reduces carbon footprint. All these factors are supporting the rise in the Asia Pacific lithium-ion battery recycling market.

 Asia Pacific Lithium-ion Battery Recycling Industry Drivers and Restraints:

The call for Li-ion batteries has escalated owing to the escalated adoption of the electric vehicle and deployment in energy storage systems. The Asia Pacific lithium-ion battery recycling market is influenced by the increasing call for electric as well as hybrid electric vehicles where lithium-ion batteries are employed extensively. Adoption of these vehicles leads to a price hike of battery materials like cobalt and lithium, therefore making the recycling of lithium-ion battery businesses more profitable. The factors mentioned above collectively make opportunities for market expansion while factors like safety issues during storage and transportation of used batteries pose limitations in the market. Nevertheless, each element would have a definite impact on the market throughout the foreseen period. Consistent developments in the lithium-ion battery recycling market due to innovative efforts have improved the efficiency of the recycling procedure. Asia-Pacific is estimated to be the quickest developing region in the next five years owing to increasing government initiatives to subsidize lithium-ion battery recycling.

 Asia Pacific Lithium-ion Battery Recycling Market Segmentation:

By Chemistry:

  • Lithium-Cobalt Oxide (LI-CO)
  • Lithium-Iron Phosphate (LFP)
  • Lithium-Nickel Cobalt Aluminium Oxide (NCA)
  • Lithium-Nickel Manganese Cobalt (NMC)
  • Lithium-Manganese Oxide Spinal (LMO)
  • Lithium-Titanate Oxide (LI-TO)

Lithium Iron Phosphate (LFP) battery kind is foreseen to rise with the highest CAGR throughout the foreseen period in the Asia Pacific Li-ion battery recycling market. These batteries have a high call in high-power devices, including the transportation of electric vehicles and lightweight marine batteries, therefore, driving the market for lithium-ion battery recycling.

 By Technology:

  • Hydrometallurgical process

  • Pyrometallurgy process

  • Mechanical process

  • Others

The hydrometallurgical process sector held the biggest share in this regional market in 2018. This procedure is known to be the most suitable procedure for the recycling of spent lithium-ion batteries owing to its low capital price and a more eco-friendly nature than the pyrometallurgy process.

By End-user:

  • Automotive

  • Power

  • Industrial

  • Marine

  • Others

The automotive sector held the most substantial share of the Asia Pacific Li-ion battery recycling market in the year 2018. Lithium-ion batteries have a major call in electric automobiles owing to their high power density and handy size. These batteries have a high call in high-power devices, including the transportation of electric vehicles and lightweight marine batteries, therefore, driving the APAC market for lithium-ion battery recycling.

 Asia Pacific Lithium-ion Battery Recycling Regional Analysis:

Asia Pacific has the largest lithium-ion battery recycling market share, owing to the ongoing e-mobility promotion and also the presence of the biggest customer of electronics. Growing countries, like, China and India presently hold a key portion of the market on the basis of electronic equipment consumption. The report estimates that the Asia Pacific will witness a high expansion of the market during the forecast period. The Asia Pacific will also maintain its lead in the global market, owing to the contribution from the China Li-ion battery recycling market and Indian Li-ion battery recycling market.

By Country – India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore, and the Rest of APAC.

 Asia Pacific Lithium-ion Battery Recycling Market  Recent Developments and Trends

  •  Tata Chemicals introduces Lithium-ion battery recycling operations. Pilot-scale operations at a facility close to Mumbai successfully recycled the spent Li-ion batteries. The company aims to slowly scale up the capacity to recycle 500 tonnes of spent Li-ion batteries.

  • MG Motor Pvt Ltd, one of the latest entrants in the Indian automobile market declared its partnership with Umicore, a lithium battery recycling solutions provider, for effective life cycle management of lithium-ion batteries to be employed in the e-ZS electric vehicle. 

Asia Pacific Lithium-ion Battery Recycling Market Key Players:

Some of the key players operating in the lithium-ion battery recycling market include Tesla, Snam SPA, Umicore, Tes - Amm India Pvt. Ltd., Recupyl, Global Technology Systems, Inc., ACCUREC Recycling GmbH, AKKUSER OY & DIGITOIMISTO ROI, American Manganese Inc., Battery Recycling Made Easy, Ganfeng Lithium Co., Ltd., Interstate Batteries, LI-CYCLE CORP., Lithion Recycling, Neometals Ltd, OnTo Technology, LLC., Retriev Technologies, SITRASA, Storage Battery Systems, LLC among others.

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