What are Reasons Behind Surging Popularity of Lithium-Ion (Li-ion) Battery Recycling Methods?

The scarcity of lithium reserves is one of the biggest factors responsible for the growing popularity of lithium-ion (Li-ion) battery recycling methods across the world. Besides the limited availability of lithium, its mining is also being increasingly restricted, especially in Argentina, Chile, and Bolivia. Additionally, the governments of these countries are increasingly implementing strict laws for protecting the environment from the harmful effects of lithium mining. Furthermore, there are no alternative substances on Earth possessing functional characteristics similar to those of lithium, owing to which, the popularity of battery recycling is rapidly becoming more common across the world.


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Apart from the above-mentioned factors, the burgeoning utilization of lithium-ion-based energy storage systems in tablets, laptops, and mobile phones is causing a sharp rise in the demand for the recycling of lithium-ion batteries. As a result, the developing countries of Asia-Pacific (APAC) such as China, India, Thailand, and South Korea, on account of the presence of flourishing electrical and electronic sectors, will provide huge growth opportunities to the players operating in the lithium-ion battery recycling market. The other important factor boosting the demand for lithium-ion battery recycling is the mushrooming sales of electric vehicles all over the world.



Thus, because of the aforementioned reasons, the global lithium-ion (Li-ion) battery recycling market generated a revenue of $165.3 million in 2019 and is predicted to progress at a CAGR of 18.3% between 2020 and 2030. Lithium-Nickel-Cobalt-Aluminum Oxide (NCA), Lithium-Iron Phosphate (LFP), Lithium-Cobalt Oxide (LCO), Lithium-Ion-Manganese Oxide (LMO), and Lithium-Nickel-Manganese-Cobalt Oxide (NMC) batteries are the most commonly used types of li-ion batteries throughout the world. Amongst these, the usage of the LFP batteries is expected to surge rapidly in future, on account of their numerous advantages over the other variants such as higher charging efficiency, lower weight, and greater discharge rates.


Asia-Pacific (APAC) held the largest revenue share in the lithium-ion battery recycling market in 2019, on account of the strong presence of a number of battery recycling companies in the region, especially China. Further, the popularity of EVs is swiftly rising in China, Japan, and numerous Southeast Asian countries, including Vietnam, Indonesia, and the Philippines. This is creating an additional demand for recycled Li-ion batteries, as the reserves of lithium metal are limited.