Lithium-Ion Battery Recycling Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2025-2034
Description
The Global Lithium-Ion Battery Recycling Market was valued at USD 5.01 billion in 2024 and is estimated to grow at a CAGR of 20.3% to reach USD 31.08 billion by 2034, driven by rapid electrification, stringent e-waste regulations, and increasing demand for critical raw materials such as lithium, cobalt, and nickel. As electric vehicles (EVs) proliferate and portable electronics continue to expand, the need for sustainable end-of-life battery management has become paramount.
Lithium-ion battery recycling supports the global shift toward a circular economy, enabling the recovery of valuable materials for reuse in new batteries and significantly reducing reliance on environmentally disruptive mining. Governments worldwide are implementing stringent battery disposal mandates, extended producer responsibility laws, and incentives for recycling infrastructure development, further propelling market growth. Additionally, strategic collaborations between automakers and recyclers are ensuring secure and localized sourcing of raw materials, reducing geopolitical risk and supply chain vulnerabilities.
The lithium-ion battery recycling market is primarily segmented by chemistry, with Lithium Nickel Manganese Cobalt Oxide (NMC) batteries segment generating USD 3.5 billion in 2024. NMC batteries are widely used in electric vehicles and energy storage systems, making them a prime focus for recyclers due to their high content of nickel, cobalt, and lithium. Efficient hydrometallurgical and pyrometallurgical processes are increasingly adopted to optimize material recovery from these chemistries.
Based on the source, the automotive segment dominated in 2024, accounting for USD 3.54 billion. The surge in EV deployment and the aging of early-generation EV battery packs drive this trend. Automakers are forming closed-loop partnerships with recyclers to recover critical materials from used EV batteries and reintroduce them into the supply chain. These efforts not only reduce material costs but also help manufacturers comply with sustainability targets and regulatory requirements.
Asia Pacific Lithium-Ion Battery Recycling Market generated USD 2.3 billion in 2024, driven by China’s aggressive EV adoption, robust battery manufacturing base, and stringent regulatory mandates promoting battery material traceability and end-of-life recycling. China leads the global market not only in EV production and battery deployment but also in establishing a circular battery economy. The government has enacted policies requiring EV manufacturers and battery producers to implement recycling protocols and track batteries throughout their lifecycle, significantly boosting the demand for specialized recycling infrastructure.
Key players—Redwood Materials, Umicore, Glencore, Li-Cycle Corp, American Battery Technology Company, Attero, LOHUM, ACE Green Recycling, Lithion Technologies, BATX Energies, Ganfeng Lithium, RecycLiCo Battery Materials, and SK Tes—are expanding their market foothold through a combination of facility expansion, technological innovation, and vertical integration. Companies like Li-Cycle and Redwood are developing hydrometallurgical “hub-and-spoke” systems to maximize recovery and minimize waste. Firms like Umicore and Glencore focus on integrating recycling with primary metal production. Meanwhile, emerging players like Attero and ACE Green Recycling target regional markets with modular, low-cost solutions.
Lithium-ion battery recycling supports the global shift toward a circular economy, enabling the recovery of valuable materials for reuse in new batteries and significantly reducing reliance on environmentally disruptive mining. Governments worldwide are implementing stringent battery disposal mandates, extended producer responsibility laws, and incentives for recycling infrastructure development, further propelling market growth. Additionally, strategic collaborations between automakers and recyclers are ensuring secure and localized sourcing of raw materials, reducing geopolitical risk and supply chain vulnerabilities.
The lithium-ion battery recycling market is primarily segmented by chemistry, with Lithium Nickel Manganese Cobalt Oxide (NMC) batteries segment generating USD 3.5 billion in 2024. NMC batteries are widely used in electric vehicles and energy storage systems, making them a prime focus for recyclers due to their high content of nickel, cobalt, and lithium. Efficient hydrometallurgical and pyrometallurgical processes are increasingly adopted to optimize material recovery from these chemistries.
Based on the source, the automotive segment dominated in 2024, accounting for USD 3.54 billion. The surge in EV deployment and the aging of early-generation EV battery packs drive this trend. Automakers are forming closed-loop partnerships with recyclers to recover critical materials from used EV batteries and reintroduce them into the supply chain. These efforts not only reduce material costs but also help manufacturers comply with sustainability targets and regulatory requirements.
Asia Pacific Lithium-Ion Battery Recycling Market generated USD 2.3 billion in 2024, driven by China’s aggressive EV adoption, robust battery manufacturing base, and stringent regulatory mandates promoting battery material traceability and end-of-life recycling. China leads the global market not only in EV production and battery deployment but also in establishing a circular battery economy. The government has enacted policies requiring EV manufacturers and battery producers to implement recycling protocols and track batteries throughout their lifecycle, significantly boosting the demand for specialized recycling infrastructure.
Key players—Redwood Materials, Umicore, Glencore, Li-Cycle Corp, American Battery Technology Company, Attero, LOHUM, ACE Green Recycling, Lithion Technologies, BATX Energies, Ganfeng Lithium, RecycLiCo Battery Materials, and SK Tes—are expanding their market foothold through a combination of facility expansion, technological innovation, and vertical integration. Companies like Li-Cycle and Redwood are developing hydrometallurgical “hub-and-spoke” systems to maximize recovery and minimize waste. Firms like Umicore and Glencore focus on integrating recycling with primary metal production. Meanwhile, emerging players like Attero and ACE Green Recycling target regional markets with modular, low-cost solutions.
Table of Contents
139 Pages
- Chapter 1 Methodology
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.1.3 Base estimates and calculations
- 1.1.4 Base year calculation
- 1.1.5 Market estimates & forecast parameters
- 1.1.6 Key trends for market estimates
- 1.2 Market definitions
- 1.3 Forecast model
- 1.4 Primary research and validation
- 1.5 Some of the primary sources (but not limited to)
- 1.6 Data mining sources
- 1.6.1 Secondary
- 1.6.1.1 Paid sources
- 1.6.1.2 Source, by region
- Chapter 2 Executive Summary
- 2.1 Industry snapshot
- 2.2 Business trends
- 2.3 Chemistry trends
- 2.4 Process trends
- 2.5 Source trends
- 2.6 Regional trends
- Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Regulatory landscape
- 3.2.1 North America
- 3.2.1.1 U.S.
- 3.2.1.1.1 Battery Safety and Recycling Policy
- 3.2.1.1.2 California's Electronic Waste Recycling Act
- 3.2.1.1.3 Automotive Battery Policy Framework
- 3.2.1.1.4 Electronic Code of Federal Regulations
- 3.2.1.1.5 Resource Conservation and Recovery Act
- 3.2.1.2 Canada
- 3.2.1.2.1 Transportation of Dangerous Goods Regulations
- 3.2.1.2.2 Ontario Regulation 30/20: Batteries and EPR Enforcement
- 3.2.1.2.3 British Columbia Recycling Regulation
- 3.2.1.2.4 Canadian Environmental Protection Act,1999
- 3.2.1.2.5 Classification of Batteries
- 3.2.2 Europe
- 3.2.2.1 EU Battery Directive
- 3.2.2.2 Secondary European Legislation on Batteries:
- 3.2.2.3 UK
- 3.2.2.3.1 The Waste Batteries and Accumulators Regulations
- 3.2.2.3.2 Waste Management Licensing
- 3.2.2.4 France
- 3.2.2.4.1 Anti-Waste and Circular Economy Law
- 3.2.2.5 Germany
- 3.2.2.5.1 German Batteries Act 2023
- 3.2.3 Asia Pacific
- 3.2.3.1 China
- 3.2.3.1.1 GB/T 45203-2024: Recycled Black Mass for Lithium-Ion Batteries
- 3.2.3.1.2 China RoHS Directive
- 3.2.3.1.3 Import Regulations for Recycled Materials
- 3.2.3.2 South Korea
- 3.2.3.2.1 Waste Control Act
- 3.2.3.2.2 Act on Resource Circulation of Electrical and Electronic Equipment
- 3.2.3.3 Japan
- 3.2.3.3.1 Act on the Promotion of Effective Utilization of Resources
- 3.3 Industry impact forces
- 3.3.1 Market growth drivers
- 3.3.1.1 Rising raw material prices and supply chain risks
- 3.3.1.2 Technological advancements in recycling
- 3.3.1.3 Supportive government regulations & incentives
- 3.3.2 Industry pitfalls & challenges
- 3.3.2.1 Lack of standardization in battery design
- 3.4 Growth potential analysis
- 3.5 Porter's analysis
- 3.6 PESTEL analysis
- Chapter 4 Competitive Landscape, 2025
- 4.1 Competitive landscape
- 4.2 Strategic dashboard
- 4.2.1 American Battery Technology Company
- 4.2.1.1 Business expansion
- 4.2.2 ACE Green Recycling
- 4.2.2.1 Agreement
- 4.2.2.2 Business expansion
- 4.2.2.3 Partnership
- 4.2.2.4 Memorandum of Understanding (MoU)
- 4.2.3 Li Cycle Corp.
- 4.2.3.1 Partnership
- 4.2.3.2 Business expansion
- 4.2.4 SK Tes
- 4.2.4.1 Partnership
- 4.2.4.2 Business expansion
- 4.2.4.3 Memorandum of Understanding (MoU)
- 4.2.5 BATX Energies
- 4.2.5.1 Business expansion
- 4.2.6 LOHUM
- 4.2.6.1 Business expansion
- 4.2.6.2 Partnership
- 4.2.6.3 Collaboration
- 4.2.7 Lithion Technologies
- 4.2.7.1 Partnership
- 4.2.8 Redwood Materials
- 4.2.8.1 Partnership
- 4.2.8.2 Investment
- 4.2.8.3 Acquisition
- 4.2.9 Attero
- 4.2.9.1 Business expansion
- 4.2.9.2 Investment
- 4.2.9.3 Partnership
- 4.2.10 RecycLiCo Battery Material
- 4.2.10.1 Joint venture
- 4.2.11 Glencore
- 4.2.11.1 Investment
- 4.2.11.2 Project development
- 4.2.11.3 Partnership
- 4.3 Innovation & technology landscape
- 4.3.1 Neometals
- 4.3.2 RecycLiCo Battery Material
- 4.3.3 Umicore
- Chapter 5 Market Size and Forecast, By Chemistry, 2021 - 2034 (Thousand Tons & USD Million)
- 5.1 Key trends
- 5.2 Lithium Nickel Manganese Cobalt Oxide (NMC)
- 5.3 Lithium Iron Phosphate (LFP)
- 5.4 Lithium Cobalt Oxide (LCO)
- 5.5 Others
- Chapter 6 Market Size and Forecast, By Process, 2021 - 2034 (Thousand Tons & USD Million)
- 6.1 Key trends
- 6.2 Pyrometallurgical
- 6.3 Hydrometallurgical
- 6.4 Physical/Mechanical
- Chapter 7 Market Size and Forecast, By Source, 2021 - 2034 (Thousand Tons & USD Million)
- 7.1 Key trends
- 7.2 Automotive
- 7.3 Non-Automotive P a g e | 8 Lithium-Ion Battery Recycling Market Report, 2025_2034 Copyright © Global Market Insights Inc. 2025. All Rights Reserved
- Chapter 8 Market Size and Forecast, By Region, 2021 - 2034 (Thousand Tons & USD Million)
- 8.1 Key trends
- 8.2 North America
- 8.3 Europe
- 8.4 Asia Pacific
- 8.5 Rest of World
- Chapter 9 Company Profiles
- 9.1 3R Recycler
- 9.1.1 Financial data
- 9.1.2 Product landscape
- 9.1.3 SWOT analysis
- 9.2 ACE Green Recycling
- 9.2.1 Financial data
- 9.2.2 Product landscape
- 9.2.3 Strategic outlook
- 9.2.4 SWOT analysis
- 9.3 American Battery Technology Company
- 9.3.1 Financial data
- 9.3.2 Product landscape
- 9.3.3 Strategic outlook
- 9.3.4 SWOT analysis
- 9.4 Attero
- 9.4.1 Financial data
- 9.4.2 Product landscape
- 9.4.3 Strategic outlook
- 9.4.4 SWOT analysis
- 9.5 BATX Energies
- 9.5.1 Financial data
- 9.5.2 Product landscape
- 9.5.3 Strategic outlook
- 9.5.4 SWOT analysis
- 9.6 Ganfeng Lithium Group
- 9.6.1 Financial data
- 9.6.2 Product landscape
- 9.6.3 SWOT analysis
- 9.7 Glencore
- 9.7.1 Financial data
- 9.7.2 Product landscape
- 9.7.3 Strategic outlook
- 9.7.4 SWOT analysis
- 9.8 Lithion Technologies
- 9.8.1 Financial data
- 9.8.2 Product landscape
- 9.8.3 Strategic outlook
- 9.8.4 SWOT analysis
- 9.9 Li-Cycle Corp
- 9.9.1 Financial data
- 9.9.2 Product landscape
- 9.9.3 Strategic outlook
- 9.9.4 SWOT analysis
- 9.10 LOHUM
- 9.10.1 Financial data
- 9.10.2 Product landscape
- 9.10.3 Strategic outlook
- 9.10.4 SWOT analysis
- 9.11 Neometals
- 9.11.1 Financial data
- 9.11.2 Product landscape
- 9.11.3 Strategic outlook
- 9.11.4 SWOT analysis
- 9.12 RecycLico Battery Materials
- 9.12.1 Financial data
- 9.12.2 Product landscape
- 9.12.3 Strategic outlook
- 9.12.4 SWOT analysis
- 9.13 Redwood Materials
- 9.13.1 Financial data
- 9.13.2 Product landscape
- 9.13.3 Strategic outlook
- 9.13.4 SWOT analysis
- 9.14 SK tes
- 9.14.1 Financial data
- 9.14.2 Product landscape
- 9.14.3 Strategic outlook
- 9.14.4 SWOT analysis
- 9.15 Umicore
- 9.15.1 Financial data
- 9.15.2 Product landscape
- 9.15.3 Strategic outlook
- 9.15.4 SWOT analysis
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