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Lithium-ion Battery Recycling Market: A high power and high power density battery

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Market Overview:

The Lithium-ion Battery Recycling market is a high development market due to the demand for high power density energy sources by industrial automation. The global market is anticipated to reach a total of USD 5.96 billion by 2023. The U.S. Department of Energy (DOE) has declared plans for investing USD 20.5 million for recycling lithium-ion batteries, with the major goal to boost the current 5% capture rates to 90%. Out of the 20.5 million, the DOE will dedicate 15 million to the research center and award 5.5 million to companies advancing lithium-ion battery recycling technology. The U.S DOE in partnership with Argonne National Laboratory has released a new research and development center in Argonne, Lemont.

Market Drivers and Restraints:

The lithium-ion battery is of excess energy and excess power density, which always maintains the call in the global market. These features of the lithium-ion battery drive the market towards profits in the forecast period. The elevation in the recycling of batteries reduces the global waste generated by used batteries annually. The call for reusable and recyclable batteries produced by the waste management organizations is a pushing force to the global lithium-ion battery recycling market. Elevation in the number of R&D centers for sustainable technology of batteries drives the global lithium-ion recycling market. Nonetheless, the slow pace in the development of alternative chemical composition in the battery slightly restrains the market growth. Growing technologies like aluminum-ion battery, proton battery, and graphite dual-ion battery cause a restraint to the global market.

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Report segmented as:

By Chemistry:

Lithium-nickel Manganese Cobalt (NMC)
Lithium-iron Phosphate (LFP)
Lithium Manganese Oxide (LMO)
Lithium-titanate Oxide (Li-TO)
Lithium-cobalt Oxide (Li-CO)
By Industry:

Automotive
Marine
Industrial
Power
Others
Geographical Segmentation:

Geographically, the Global Lithium-ion Battery Recycling market is segregated as Latin America, Europe, Asia Pacific, North America, and Middle-East & Africa. Asia Pacific is estimated to be the quickest-developing market, attributed to its high CAGR, growing demand for developing end-use industries and scope of future opportunities, majorly in developing countries like Japan, India, and China. The well-established recycling centers and low-cost resources in the region is the reason for its high CAGR. Europe had the most significant market share in the lithium-ion battery recycling market in 2018 followed by North America. The more considerable CAGR of North America ensures the region to gain dominance in the coming future. The Middle East & Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have lesser chances for industry growth. Therefore, the Lithium-ion Battery Recycling market in these regions are slow growing in nature.

Key Market Players:

By the end of 2018, the leading shareholders of Global Lithium-ion market are Umicore (Belgium), Retriev Technologies (US), Glencore (Switzerland), American Zinc Recycling (INMETCO) (US), Raw Materials Company (Canada), BYD Company Limited, Contemporary Amperex Technology Co. Limited, Battery Recycling Made Easy (US), LG Chem Ltd, Tesla Inc., Panasonic Corporation, Sony Corporation, and Samsung SDI.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

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