Li-ion battery recycling is a dynamic and more attractive industry, for sure. With the rapid adoption of EVs, the demand for Li-ion batteries as well as Li-ion battery recycling will grow significantly in the coming decades. Currently, most of the recycling companies are located in China, for example: Brunp, Huayou Cobalt, GEM, and Europe, such as Umicore, Akkuser, Accurec. Chinese recycling companies are at an advantage. They benefit from an already large battery market, enjoy extensive support from the state and have good access to the high volume of material to be recycled.
In September 2019, Umicore and LG Chem Ltd. (South Korea) entered into a multi-year strategic supply agreement for the supply of 125,000 metric tons of nickel, manganese, and cobalt cathode materials for lithium-ion batteries to LG Chem Ltd. The agreement became effective from January 2020. Under this agreement, Umicore is also expected to recycle LG Chem Ltd.’s cathode material production waste. Currently, both companies are undergoing discussions on long-term cooperation in battery recycling. The agreement is expected to help Umicore enhance its competitive edge in the battery recycling market globally.
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The major players operating in the global Li-ion battery recycling market are Umicore, Glencore International AG, Retriev Technologies Inc., Raw Materials Company Inc. (RMC), International Metals Reclamation Company, LLC (INMETCO), American Manganese Inc., Sitrasa, Li-Cycle Corp., Neometals Ltd, RecupylSas, Tes-Amm Singapore Pte Ltd, Fortum OYJ, GEM Co., Ltd, Tata Chemicals Limited, Onto Technology, LLC, Lithion Recycling Inc., Ecobat Technologies Ltd., Battery Recycling Made Easy (BRME), Euro DieuzeIndustrie (E.D.I.), BatrecIndustrie AG, Urecycle Group Oy.
The researchers find out why sales of Lithium-ion battery recycling are projected to surge in the coming years. The study covers the trends that will strongly favour the industry during the forecast period, 2027. Besides this, the study uncovers important facts associated with lucrative growth and opportunities that lie ahead for the Lithium-ion battery recycling industry.