According to a research conducted by P&S Intelligence, the global lithium-ion battery recycling market attained a value of $165.3 million in 2019, and it is projected to advance at a significant pace, 18.3% CAGR, during the time period 2020–2030. The market is growing due to the increasing demand for electric vehicles for dealing with the surging air pollutions levels and limited reserves of lithium metal. Moreover, the mining of this metal is a hazardous task.


One of the biggest factors propelling the need for the recycling of lithium-ion (Li-ion) batteries is the limited availability of lithium across the world. Due to the large-scale leakage of chemicals into the water supply, the wide-scale mining of lithium has caused extreme levels of water pollution in several regions. Moreover, there has been a huge increase in environmental degradation over the last few years, due to the mining of lithium, and this has caused the governments of numerous countries to reduce the mining of this material.


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Asia-Pacific (APAC) is predicted to observe the highest usage of recycled Li-ion batteries and salvaged materials in the years to come. This is primarily credited to the ballooning demand for EVs in Vietnam, China, Indonesia, and the Philippines. In addition to this, this region is home to many major battery recycling companies which is boosting the availability of various salvaged materials, such as manganese, cobalt, and nickel here. The other major factor propelling the growth of the lithium-ion battery recycling market in APAC is the rising usage of such batteries in the electrical and electronics industry in the region.


Depending on end user, the lithium-ion (Li-ion) battery recycling market is divided into electrical and electronics, power, and automotive industries. Out of these, the automotive category will record the highest and the fastest growth in the market in the forthcoming years. This is credited to the increasing incorporation of the lithium-on batteries in electric vehicles. Furthermore, the rising deployment of EVs in several countries coupled with the declining availability of the Li metal is making the automobile manufacturers switch to recycled batteries.