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Global Battery Materials Recycling Market to reach USD 53.8 billion by the end of 2030

Global Battery Materials Recycling Market Size study & Forecast, by Material (Iron, Manganese, Nickel, Lithium, Cobalt, Lead, Electrolytes, Plastics, Others), by End User (Automotive, Consumer Goods & Electronics, Building & Construction, Aerospace & Defense, Packaging, Textile Industry, Others) and Regional Analysis, 2023-2030

Product Code: EPRE-50342178
Publish Date: 10-08-2023
Page: 200

Global Battery Materials Recycling Market is valued approximately at USD 28 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.5% over the forecast period 2023-2030. Battery materials recycling refers to the process of recovering valuable metals and components from used batteries, such as lithium-ion batteries, in order to reuse or repurpose them. Through various techniques, including physical, chemical, and metallurgical processes, battery materials recycling aims to extract materials such as lithium, cobalt, nickel, and manganese, reducing the reliance on primary raw materials and promoting environmental sustainability in the battery industry. This recycling process contributes to the circular economy by extending the lifespan of batteries, minimizing waste, and conserving valuable resources. The driving factors boosting the market growth are increasing demand for electric vehicles (EVs) and growing investments in recycling infrastructure.

According to Statista, The electric Vehicles market is estimated to witness significant growth, with projected revenue reaching USD 561.30 billion in 2023. It is expected to exhibit a compound annual growth rate (CAGR) of 10.07% from 2023 to 2028, leading to a market volume of approximately USD 906.70 billion by 2028. Furthermore, unit sales of Electric Vehicles are anticipated to reach 17.07 million vehicles by 2028. Moreover, the increasing demand for energy storage systems and advancements in battery recycling techniques is expected to create abundant opportunities for the market growth. However, the lack of adequate collection infrastructure for efficient recycling and complexities of battery chemistries stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Battery Materials Recycling Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the advanced recycling infrastructure, stringent environmental regulations and policies that promote sustainable practices, including battery recycling, and strong R&D ecosystem and technological advancements. However, Asia Pacific is expected to be the fastest growing region during the forecast period, owing to factors such as growing electric vehicle market, favorable government policies and initiatives to promote sustainable practices, and rising environmental awareness.

Major market player included in this report are:
Umicore N.V.
Retriev Technologies Inc.
American Manganese Inc.
Li-Cycle Corp.
GEM Co., Ltd.
Glencore International AG
Recupyl S.A
Raw Materials Company Inc.
Neometals Ltd.
Retriev Metals

Recent Developments in the Market:
Ø In May 2022, Li-Cycle has formed a strategic partnership with Glencore, wherein Glencore will provide various types of manufacturing scrap and end-of-life lithium-ion batteries to Li-Cycle for recycling. The partnership includes long-term contracts for the supply and off-take of black mass between the companies.
Ø In February 2022, in 2022, Umicore announced a collaboration agreement with Automotive Cells Company (ACC) to provide battery recycling services. The partnership focuses on meeting the battery recycling requirements of ACC’s pilot plant located in Nersac, France.

Global Battery Materials Recycling Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Material, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Material:

By End User:
Consumer Goods & Electronics
Building & Construction
Aerospace & Defense
Textile Industry

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Battery Materials Recycling Market, by region, 2020-2030 (USD Billion)
1.2.2. Battery Materials Recycling Market, by Material, 2020-2030 (USD Billion)
1.2.3. Battery Materials Recycling Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Battery Materials Recycling Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Battery Materials Recycling Market Dynamics
3.1. Battery Materials Recycling Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing demand for Electric Vehicles (EVs) Increasing investment in recycling infrastructure
3.1.2. Market Challenges Lack of adequate collection infrastructure for efficient recycling Complexity of battery chemistries
3.1.3. Market Opportunities Increasing demand for energy storage systems Advancements in Battery recycling techniques
Chapter 4. Global Battery Materials Recycling Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Battery Materials Recycling Market, by Material
5.1. Market Snapshot
5.2. Global Battery Materials Recycling Market by Material, Performance – Potential Analysis
5.3. Global Battery Materials Recycling Market Estimates & Forecasts by Material 2020-2030 (USD Billion)
5.4. Battery Materials Recycling Market, Sub Segment Analysis
5.4.1. Iron
5.4.2. Manganese
5.4.3. Nickel
5.4.4. Lithium
5.4.5. Cobalt
5.4.6. Lead
5.4.7. Electrolytes
5.4.8. Plastics
5.4.9. Others
Chapter 6. Global Battery Materials Recycling Market, by End User
6.1. Market Snapshot
6.2. Global Battery Materials Recycling Market by End User, Performance – Potential Analysis
6.3. Global Battery Materials Recycling Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
6.4. Battery Materials Recycling Market, Sub Segment Analysis
6.4.1. Automotive
6.4.2. Consumer Goods & Electronics
6.4.3. Building & Construction
6.4.4. Aerospace & Defense
6.4.5. Packaging
6.4.6. Textile Industry
6.4.7. Others
Chapter 7. Global Battery Materials Recycling Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Battery Materials Recycling Market, Regional Market Snapshot
7.4. North America Battery Materials Recycling Market
7.4.1. U.S. Battery Materials Recycling Market Material breakdown estimates & forecasts, 2020-2030 End User breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Battery Materials Recycling Market
7.5. Europe Battery Materials Recycling Market Snapshot
7.5.1. U.K. Battery Materials Recycling Market
7.5.2. Germany Battery Materials Recycling Market
7.5.3. France Battery Materials Recycling Market
7.5.4. Spain Battery Materials Recycling Market
7.5.5. Italy Battery Materials Recycling Market
7.5.6. Rest of Europe Battery Materials Recycling Market
7.6. Asia-Pacific Battery Materials Recycling Market Snapshot
7.6.1. China Battery Materials Recycling Market
7.6.2. India Battery Materials Recycling Market
7.6.3. Japan Battery Materials Recycling Market
7.6.4. Australia Battery Materials Recycling Market
7.6.5. South Korea Battery Materials Recycling Market
7.6.6. Rest of Asia Pacific Battery Materials Recycling Market
7.7. Latin America Battery Materials Recycling Market Snapshot
7.7.1. Brazil Battery Materials Recycling Market
7.7.2. Mexico Battery Materials Recycling Market
7.8. Middle East & Africa Battery Materials Recycling Market
7.8.1. Saudi Arabia Battery Materials Recycling Market
7.8.2. South Africa Battery Materials Recycling Market
7.8.3. Rest of Middle East & Africa Battery Materials Recycling Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Umicore N.V. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Retriev Technologies Inc.
8.3.3. American Manganese Inc.
8.3.4. Li-Cycle Corp.
8.3.5. GEM Co., Ltd.
8.3.6. Glencore International AG
8.3.7. Recupyl S.A
8.3.8. Raw Materials Company Inc.
8.3.9. Neometals Ltd.
8.3.10. Retriev Metals
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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