By the 2030, the recovery of the lithium battery recycling market will reach 23.72 billion US dollars.

2022/04/08

  Author :Iflowpower – Portable Power Station Supplier

According to the Marketsandmarkets of Market Research Institutions, the 2017 lithium-ion battery recycling market will reach $ 178 million, and it is expected to reach 23.72 billion US dollars in 2030, and the annual compound increase is approximately 22.1%.

In order to control the increasing pollution, the demand of electric vehicles has risen to the need for lithium ion battery consumption. Lithium-ion batteries have lower self-discharge rates than other rechargeable batteries such as nickel-cadmium batteries and nickel-hydrogen batteries. Lithium-ion batteries supply high energy and high power density, thus being used in various applications, such as mobile phones, industrial equipment and electric vehicles.

Lithium lithium iron phosphate will become the fastest battery type in the market based on chemical composition, and the lithium phosphate ion battery market will rise with the highest annual composite increase. Lithium phosphate ion battery is widely used in high-power equipment, including electric vehicles and lightweight boat batteries. Due to stable performance at high temperatures, lithium iron ion batteries do not explode or fire.

Lithium iron phosphate ion batteries generally have a long service life, 10 years, 10,000 cycles,. The power industry is the fastest market in the market, and the power industry is expected to rise fastest. Every year, the EU has an euros of approximately 24 kg of electronic and electronic waste, including lithium in high-tech industries.

The EU has implemented regulations, requiring a recovery rate of at the end battery in September 2012 to 25%, by the end of September 2016, the battery recovery rate is gradually increased to 45%. The power industry is working on producing renewable energy and stores it as a variety of uses. Lithium-ion battery self-discharge rate is one of the important factors used by smart grid and renewable energy storage system.

This will lead to high yields of waste lithium ion batteries for recycling in the power industry. The automotive sector is the largest lithium-ion battery recycling market 2017 automotive field will become the largest part of the lithium-ion battery recycling market and is expected to continue the leading position in the next few years. Due to the low availability of raw materials such as lithium and cobalt, and most countries and companies are recovering abandoned waste lithium-ion batteries, therefore, more and more electric vehicles have driven the demand for lithium-ion batteries.

The Asia-Pacific region is the fastest rising region to 2030, and the Asia Pacific market is expected to rise with the highest compound annual incidence. The Asia-Pacific region includes my country, Japan and India, etc. In various applications such as electric vehicles and energy storage, the Asia-Pacific region is one of the rapid and largest markets of lithium-ion battery recycling.

Because my country and India are the fastest growing economy in the world, and the population is constantly increasing and the demand for industrial applications is rising, so the demand for lithium-ion batteries is very high. Leading manufacturers in lithium-ion battery recovery market include Umicore (Belgium), Cardene (Switzerland), Retriev Technology (USA), Raw Materials (Canada), International Metal Recycling Company (US), etc.

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