Table of Content


1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 STUDY SCOPE 15
1.3.1 YEARS CONSIDERED FOR THE STUDY 15
1.4 CURRENCY 16
1.5 LIMITATIONS 16
1.6 STAKEHOLDERS 16

2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 17
2.1.1 SECONDARY DATA 18
2.1.1.1 Key Data from Secondary Sources 18
2.1.2 PRIMARY DATA 19
2.1.2.1 Key Data from Primary Sources 19
2.1.2.2 Key Industry Insights 20
2.1.2.3 Breakdown of Primary Interviews 20
2.2 MARKET SIZE ESTIMATION 21
2.3 PRIMARY AND SECONDARY RESEARCH 22
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 24
2.5 RESEARCH ASSUMPTIONS 25

3 EXECUTIVE SUMMARY 26

4 PREMIUM INSIGHTS 29
4.1 INTRODUCTION 29
4.2 LIFE EXPECTANCIES OF BATTERIES IN AUTOMOTIVE AND STATIONARY APPLICATIONS 29
4.2.1 EXPORT OF LITHIUM-ION BATTERIES 30
4.3 MATERIALS PRESENT IN SPENT BATTERIES 31

5 MARKET OVERVIEW 34
5.1 INTRODUCTION 34
5.2 MARKET DYNAMICS 34
5.2.1 DRIVERS 35
5.2.1.1 Increase in demand for electric vehicles 35
5.2.1.2 Stringent local and state government regulations and EPA guidelines 36
5.2.1.3 Rising demand for recycled products and materials 36
5.2.1.4 Depletion of earth metals 36
5.2.2 RESTRAINTS 37
5.2.2.1 Safety issues related to the storage and transportation of spent batteries 37
5.2.3 OPPORTUNITIES 37
5.2.3.1 Subsidies to encourage battery recycling 37
5.2.3.2 Increasing production expected to lead to a decline in prices of lithium-ion batteries, rising adoption in new applications, and recycling after end-of-life 37
5.2.3.3 Geographically concentrated sources of lithium and cobalt 38
5.2.4 CHALLENGES 38
5.2.4.1 High cost of recycling and dearth of technologies for the extraction of lithium from spent lithium-based batteries 38

6 VALUE CHAIN OF LITHIUM-ION BATTERIES 39
6.1 VALUE CHAIN OF LI-ION BATTERIES, WITH MAJOR GLOBAL PLAYERS 39
6.2 LITHIUM-ION BATTERY RECYCLING PROCESS 40
6.3 ESTIMATED LI-ION BATTERY RECYCLING CAPACITIES OF KEY RECYCLERS 40

7 LITHIUM-ION BATTERY RECYCLING MARKET REGULATIONS 41
7.1 NORTH AMERICA BATTERY RECYCLING REGULATIONS 41
7.1.1 US 41
7.1.2 CANADA 48
7.2 EUROPE BATTERY RECYCLING REGULATIONS 49
7.3 ASIA PACIFIC BATTERY RECYCLING REGULATIONS 50

8 ELECTRIC VEHICLE MARKET OUTLOOK (EXISTING SUBSIDIES,
AND TAX STRUCTURES) 51
8.1 INTRODUCTION 51
8.2 CANADA 51
8.3 CHINA 52
8.4 DENMARK 54
8.5 FRANCE 54
8.6 GERMANY 55
8.7 INDIA 56
8.8 JAPAN 57
8.9 NORWAY 57
8.10 SWEDEN 58
8.11 THE NETHERLANDS 59
8.12 UK 59
8.13 US 60

9 LITHIUM-ION BATTERY RECYCLING MARKET, BY END USE 63
9.1 INTRODUCTION 64
9.2 AUTOMOTIVE 65
9.2.1 HIGH DEMAND FOR ELECTRIC VEHICLES PROJECTED TO LEAD TO THE GROWTH OF THE MARKET 65
9.3 NON-AUTOMOTIVE 70
9.3.1 EUROPE LED THE NON-AUTOMOTIVE SEGMENT IN 2018 70
9.3.2 INDUSTRIAL 70
9.3.3 POWER 71
9.3.4 MARINE 71

10 AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET,
BY BATTERY CHEMISTRY 73
10.1 INTRODUCTION 74
10.2 LITHIUM-NICKEL MANGANESE COBALT (LI-NMC) 75
10.2.1 LITHIUM-NICKEL MANGANESE COBALT (LI-NMC) ACCOUNTED FOR THE LARGEST SHARE OF THE MARKET IN 2018 75
10.3 LITHIUM-IRON PHOSPHATE (LFP) 77
10.3.1 LITHIUM IRON PHOSPHATE (LFP), ACCOUNTED FOR THE SECOND-LARGEST SHARE OF THE MARKET IN 2018 77
10.4 LITHIUM-MANGANESE OXIDE (LMO) 78
10.4.1 ADVANTAGES, SUCH AS LOWER INTERNAL RESISTANCE, HIGH THERMAL STABILITY, IMPROVED HANDLING OF CURRENT, ARE FACTORS PROPELLING DEMAND FOR LMO BATTERIES 78
10.5 LITHIUM-TITANATE OXIDE (LTO) 79
10.5.1 THE DEMAND FOR LTO BATTERIES ACCOUNTED FOR THE LARGEST SHARE OF THE NORTH AMERICA REGION IN 2018 79
10.6 LITHIUM-NICKEL COBALT ALUMINUM OXIDE (NCA) 81
10.6.1 NCA BATTERIES ARE PROJECTED TO GROW AT THE HIGHEST CAGR IN EUROPE, DURING THE FORECAST PERIOD, 2025-2030 81
10.7 MATERIALS PRESENT IN BATTERIES FOR RECYCLING 82

11 LITHIUM-ION BATTERY RECYCLING PROCESS 85
11.1 INTRODUCTION 85
11.1.1 HYDROMETALLURGICAL PROCESS 85
11.1.2 PYROMETALLURGY PROCESS 86
11.1.3 PHYSICAL/MECHANICAL PROCESS 87

12 LI-ION BATTERY RECYCLING MARKET, BY REGION 88
12.1 INTRODUCTION 89
12.2 NORTH AMERICA 92
12.2.1 US 95
12.2.1.1 US dominated the LIB recycling market in North America
region in 2018 95
12.2.2 CANADA 96
12.2.2.1 Stringent implementation of the Canadian Environmental Protection Act (CEPA) in Canada is supporting market growth in the country 96
12.3 EUROPE 98
12.3.1 EUROPE WAS THE SECOND-LARGEST LITHIUM-ION BATTERY RECYCLING MARKET GLOBALLY IN 2019 98
12.4 ASIA PACIFIC 100
12.4.1 IN THE ASIA PACIFIC, JAPAN LED THE AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET IN 2019 100

13 COMPETITIVE LANDSCAPE 103
13.1 OVERVIEW 103
13.2 COMPETITIVE LANDSCAPE MAPPING, 2019 105
13.2.1 VISIONARY LEADERS 105
13.2.2 INNOVATORS 105
13.2.3 DYNAMIC DIFFERENTIATORS 105
13.2.4 EMERGING COMPANIES 105
13.3 COMPETITIVE BENCHMARKING 107
13.3.1 STRENGTH OF PRODUCT PORTFOLIO 107
13.3.2 BUSINESS STRATEGY EXCELLENCE 108
13.4 MARKET RANKING OF KEY PLAYERS 109
13.5 COMPETITIVE SCENARIO 110
13.5.1 ACQUISITIONS 110
13.5.2 EXPANSIONS 111
13.5.3 AGREEMENTS 111
13.5.4 PARTNERSHIPS 112
13.5.5 COLLABORATIONS 113
13.5.6 NEW TECHNOLOGY LAUNCHES 113
13.5.7 NEW TECHNOLOGY DEVELOPMENTS 113
13.5.8 INVESTMENTS 114
13.5.9 CONTRACTS 114
13.5.10 NEW PROCESS LAUNCHES 114

14 COMPANY PROFILES 115
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
14.1 UMICORE 115
14.2 GLENCORE INTERNATIONAL AG 119
14.3 RETRIEV TECHNOLOGIES INC. 121
14.4 RAW MATERIALS COMPANY INC. (RMC) 123
14.5 INTERNATIONAL METALS RECLAMATION COMPANY, LLC (INMETCO) 125
14.6 AMERICAN MANGANESE INC. 126
14.7 SITRASA 127
14.8 LI-CYCLE CORP. 128
14.9 NEOMETALS LTD 129
14.10 RECUPYL SAS 130
14.11 METAL CONVERSION TECHNOLOGIES (MCT) 131
14.12 TES-AMM SINGAPORE PTE LTD 132
14.13 FORTUM OYJ 133
14.14 GEM CO., LTD 135
14.15 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD (CATL) 136
14.16 OTHER COMPANIES 137
14.16.1 TATA CHEMICALS LIMITED 137
14.16.2 ONTO TECHNOLOGY, LLC 137
14.16.3 LITHION RECYCLING INC. 137
14.16.4 ECOBAT TECHNOLOGIES LTD. 138
14.16.5 BATTERY RECYCLING MADE EASY (BRME) 138
14.16.6 EURO DIEUZE INDUSTRIE (E.D.I.) 138
14.16.7 BATREC INDUSTRIE AG 139
14.16.8 URECYCLE GROUP OY 139
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.

15 APPENDIX 140
15.1 DISCUSSION GUIDE 140
15.2 KNOWLEDGE STORE 142
15.3 AVAILABLE CUSTOMIZATIONS 144
15.4 RELATED REPORTS 144
15.5 AUTHOR DETAILS 146



List of Figures




FIGURE 1 LITHIUM-ION BATTERY RECYCLING MARKET: RESEARCH DESIGN 17
FIGURE 2 BOTTOM-UP APPROACH 21
FIGURE 3 TOP-DOWN APPROACH 21
FIGURE 4 MARKET SIZE ESTIMATION 22
FIGURE 5 FORECAST NUMBER CALCULATION 23
FIGURE 6 LITHIUM-ION BATTERY RECYCLING MARKET: DATA TRIANGULATION 24
FIGURE 7 NON-AUTOMOTIVE POWER SUBSEGMENT PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD, 2025-2030 27
FIGURE 8 ASIA PACIFIC PROJECTED TO ACCOUNT FOR LARGEST SHARE OF LITHIUM-ION BATTERY RECYCLING MARKET IN 2025 28
FIGURE 9 LITHIUM-ION BATTERY RECYCLING MARKET IS DRIVEN BY THE HIGH OUTPUT OF SPENT BATTERIES FROM EDVS 29
FIGURE 10 AUTOMOTIVE LITHIUM-MANGANESE OXIDE (LMO) SEGMENT TO GROW AT THE HIGHEST CAGR FROM 2025 TO 2030 30
FIGURE 11 INCREASE IN DEMAND FOR ELECTRIC VEHICLES EXPECTED TO DRIVE THE GLOBAL LITHIUM-ION BATTERY MARKET 35
FIGURE 12 AUTOMOTIVE TO BE THE LARGEST END USE SEGMENT OF THE LITHIUM-ION BATTERY RECYCLING MARKET DURING THE FORECAST PERIOD 64
FIGURE 13 TYPES OF LITHIUM-ION BATTERIES BASED ON MATERIALS USED AS ELECTRODES 74
FIGURE 14 LITHIUM-NICKEL MANGANESE COBALT (LI-NMC) SEGMENT PROJECTED TO LEAD THE AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET 74
FIGURE 15 LI-NMC ARE HIGH ENERGY DENSITY BATTERIES 76
FIGURE 16 HIGH POWER DENSITY AND STABILITY BOOSTS ADOPTION OF LFP BATTERIES 77
FIGURE 17 COST FACTOR BOOSTS THE GROWTH OF THE LMO BATTERY MARKET 79
FIGURE 18 HIGH STABILITY, ENERGY, AND POWER DENSITY EXPECTED TO CREATE DEMAND FOR LTO BATTERIES 80
FIGURE 19 HIGH ENERGY DENSITY OF NCA BATTERIES INCREASES DEMAND IN THE AUTOMOTIVE INDUSTRY 82
FIGURE 20 EUROPE MARKET TO GROW AT THE HIGHEST CAGR IN GLOBAL LITHIUM-ION BATTERY RECYCLING MARKET BY 2030 89
FIGURE 21 US LITHIUM-ION BATTERY RECYCLERS SNAPSHOT 95
FIGURE 22 CANADA LITHIUM-ION BATTERY RECYCLERS SNAPSHOT 96
FIGURE 23 COMPANIES ADOPTED BOTH ORGANIC AND INORGANIC GROWTH STRATEGIES BETWEEN JANUARY 2014 AND OCTOBER 2019 104
FIGURE 24 LITHIUM-ION BATTERY RECYCLING MARKET: COMPETITIVE LANDSCAPE
MAPPING, 2019 106
FIGURE 25 UMICORE: COMPANY SNAPSHOT 116
FIGURE 26 GLENCORE INTERNATIONAL AG: COMPANY SNAPSHOT 119
FIGURE 27 FORTUM OYJ: COMPANY SNAPSHOT 133

 

List of Tables




TABLE 1 SHARE OF TOP COUNTRIES THAT RECEIVED HIGH REVENUE FROM THE EXPORT
OF LITHIUM-ION BATTERIES DURING 2018 31
TABLE 2 AVERAGE COMPOSITION OF VARIOUS COMPONENTS OF LITHIUM-ION BATTERIES, BY MATERIAL 32
TABLE 3 METALS IN COMMONLY RECYCLED BATTERIES AS A PERCENTAGE OF THE OVERALL CONTENT 32
TABLE 4 MAJOR RECOVERABLE METALS FROM VARIOUS BATTERY CHEMISTRIES AFTER RECYCLING 33
TABLE 5 EXISTING SUBSIDIES AND TAX STRUCTURE, CANADA, 2016 51
TABLE 6 EXISTING SUBSIDIES AND TAX STRUCTURE, CHINA, 2016 52
TABLE 7 OTHER EXISTING BENEFITS 53
TABLE 8 EXISTING SUBSIDIES AND TAXES 53
TABLE 9 EXISTING SUBSIDIES AND TAX STRUCTURE, DENMARK, 2016 54
TABLE 10 EXISTING SUBSIDIES AND TAX STRUCTURE, FRANCE, 2016 55
TABLE 11 EXISTING SUBSIDIES AND TAX STRUCTURE, GERMANY, 2016 55
TABLE 12 EXISTING SUBSIDIES AND TAX STRUCTURE, INDIA, 2016 56
TABLE 13 EXISTING PASSENGER SAFETY REGULATIONS, JAPAN, 2016 57
TABLE 14 EXISTING SUBSIDIES AND TAX STRUCTURE, JAPAN, 2016 57
TABLE 15 EXISTING SUBSIDIES AND TAX STRUCTURE, NORWAY, 2016 57
TABLE 16 EXISTING SUBSIDIES AND TAX STRUCTURE, SWEDEN, 2016 58
TABLE 17 EXISTING SUBSIDIES AND TAX STRUCTURE, THE NETHERLANDS, 2016 59
TABLE 18 EXISTING SUBSIDIES AND TAX STRUCTURE, UK, 2016 60
TABLE 19 VEHICLE CATEGORIES ELIGIBLE FOR SUBSIDIES IN THE UK 60
TABLE 20 EXISTING SUBSIDIES AND TAX STRUCTURE, US, 2016 60
TABLE 21 STATE-WISE INCENTIVE AND TAX STRUCTURE FOR ELECTRIC VEHICLES 61
TABLE 22 LITHIUM-ION BATTERY RECYCLING MARKET, BY END USE, “
2017-2030 (USD MILLION) 65
TABLE 23 EXPECTED ELECTRIC VEHICLE OFFERINGS, 2017–2030 66
TABLE 24 ELECTRIC DRIVEN VEHICLE BATTERIES EXPECTED FOR RECYCLING 67
TABLE 25 ELECTRIC VEHICLE STARTUP INVESTMENTS, 2015–2016 68
TABLE 26 LITHIUM-ION BATTERY RECYCLING MARKET FOR AUTOMOTIVE END USE BY REGION, 2017-2030 (USD MILLION) 69
TABLE 27 LITHIUM-ION BATTERY RECYCLING MARKET FOR NON-AUTOMOTIVE END USE BY SUBSEGMENT, 2017–2030 (USD MILLION) 70
TABLE 28 INDUSTRIAL SUBSEGMENT MARKET IN NON-AUTOMOTIVE END USE, BY REGION, 2017-2030 (USD MILLION) 70
TABLE 29 POWER SEGMENT MARKET IN NON-AUTOMOTIVE END USE, BY REGION 2017-2030 (USD MILLION) 71
TABLE 30 MARINE SUBSEGMENT MARKET IN NON-AUTOMOTIVE END USE, BY REGION, 2017-2030 (USD MILLION) 72
TABLE 31 AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET, BY BATTERY CHEMISTRY, 2017–2030 (UNITS) 75
TABLE 32 AUTOMOTIVE LITHIUM-NICKEL MANGANESE COBALT (LI-NMC): LITHIUM-ION BATTERY RECYCLING MARKET, 2017–2030 (UNITS) 76
TABLE 33 AUTOMOTIVE LITHIUM-IRON PHOSPHATE (LFP): LITHIUM-ION BATTERY RECYCLING MARKET, 2017–2030 (UNITS) 77
TABLE 34 AUTOMOTIVE LITHIUM-MANGANESE OXIDE (LMO): LITHIUM-ION BATTERY RECYCLING MARKET, 2017–2030 (UNITS) 78
TABLE 35 AUTOMOTIVE LITHIUM-TITANATE OXIDE (LTO): LITHIUM-ION BATTERY RECYCLING MARKET, 2017–2030 (UNITS) 80
TABLE 36 AUTOMOTIVE LITHIUM-NICKEL COBALT ALUMINUM OXIDE (NCA): LITHIUM-ION BATTERY RECYCLING MARKET, 2017–2030 (UNITS) 81
TABLE 37 AVERAGE COMPOSITION OF VARIOUS COMPONENTS OF LITHIUM-ION BATTERIES, BY MATERIAL 83
TABLE 38 METAL CONTENT OF RECYCLED BATTERIES 83
TABLE 39 MAJOR RECOVERABLE METALS FROM VARIOUS BATTERY CHEMISTRIES
AFTER RECYCLING 84
TABLE 40 COMPARISON OF PROCESSES INVOLVED IN RECYCLING LI-ION BATTERIES 85
TABLE 41 ADVANTAGES AND DISADVANTAGES OF THE HYDROMETALLURGICAL PROCESS 86
TABLE 42 ADVANTAGES AND DISADVANTAGES OF THE PYROMETALLURGICAL PROCESS 87
TABLE 43 ADVANTAGES AND DISADVANTAGES OF THE PHYSICAL/MECHANICAL PROCESS 87
TABLE 44 LITHIUM-ION BATTERY RECYCLING MARKET, BY REGION 2017–2030 (USD MILLION) 89
TABLE 45 AUTOMOTIVE LITHIUM ION BATTERY RECYCLING MARKET, BY REGION 2017–2030 (USD MILLION) 90
TABLE 46 AUTOMOTIVE LITHIUM ION BATTERY RECYCLING MARKET, BY REGION 2017–2030 (UNITS) 90
TABLE 47 NON-AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET, BY SUBSEGMENT, 2017–2030 (USD MILLION) 91
TABLE 48 AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET, BY BATTERY CHEMISTRY, 2017–2030 (UNITS) 91
TABLE 49 NORTH AMERICA AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET BY COUNTRY, 2017–2030 (USD MILLION) 92
TABLE 50 NORTH AMERICA AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET BY COUNTRY, 2017–2030 (UNITS) 92
TABLE 51 NORTH AMERICA NON-AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET, BY SUBSEGMENT, 2017–2030 (USD MILLION) 92
TABLE 52 NORTH AMERICA AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET BY BATTERY CHEMISTRY, 2017–2030 (UNITS) 93
TABLE 53 US LITHIUM-ION BATTERY RECYCLING MARKET SNAPSHOT (UNITS) 94
TABLE 54 CANADA LITHIUM-ION BATTERY RECYCLING MARKET SNAPSHOT (UNITS) 97
TABLE 55 EUROPE AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET BY COUNTRY, 2017–2030 (USD MILLION) 98
TABLE 56 EUROPE AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET, BY COUNTRY, 2017–2030 (UNITS) 99
TABLE 57 EUROPE NON-AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET BY SUBSEGMENT, 2017–2030 (USD MILLION) 99
TABLE 58 EUROPE LITHIUM-ION BATTERY RECYCLING MARKET, BY BATTERY CHEMISTRY, 2017–2030 (UNITS) 100
TABLE 59 ASIA PACIFIC AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET BY COUNTRY, 2017–2030 (USD MILLION) 101
TABLE 60 ASIA PACIFIC AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET BY COUNTRY, 2017–2030 (UNITS) 101
TABLE 61 ASIA PACIFIC NON-AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET BY SUBSEGMENT, 2017–2030 (USD MILLION) 101
TABLE 62 ASIA PACIFIC AUTOMOTIVE LITHIUM-ION BATTERY RECYCLING MARKET BY BATTERY CHEMISTRY, 2017–2030 (UNITS) 102
TABLE 63 ACQUISITIONS, 2016–2019 110
TABLE 64 EXPANSIONS, 2016–2019 111
TABLE 65 AGREEMENTS, 2016–2019 111
TABLE 66 PARTNERSHIPS, 2016–2019 112
TABLE 67 COLLABORATIONS, 2016–2019 113
TABLE 68 NEW TECHNOLOGY LAUNCHES, 2016–2019 113
TABLE 69 NEW TECHNOLOGY DEVELOPMENTS, 2016–2019 113
TABLE 70 INVESTMENTS, 2016–2019 114
TABLE 71 CONTRACTS, 2016–2019 114
TABLE 72 NEW PROCESS LAUNCHES, 2016–2019 114