EV Battery Recycling Market by Material Extraction (Lithium, Nickel, Cobalt, Manganese, Iron, Cobalt, Graphite, Steel, Aluminium), Battery chemistry (LFP, NMC, NCA), Vehicle Type, Recycling process & Region - Global Forecast to 2035
The global EV battery recycling market, by value, is estimated to be USD 0.54 Billion in 2024 and is projected to reach USD 23.72 Billion by 2035, at a CAGR of 40.9% from 2024 to 2035.
companies in the market are leveraging innovative technologies such as hydrometallurgy and direct recycling to extract materials efficiently, ensuring the recycled materials meet the quality standards for reuse in new batteries. Further, The market’s growth is also supported by strategic collaborations among automotive manufacturers, battery producers, and recycling firms. In January 2024, Iveco Group (Italy) announced the selection of BASF (Germany), as its first partner to provide a recycling solution for the lithium-ion batteries of Iveco’s EVs. Similarly, many automakers are investing in closed-loop recycling systems, ensuring a steady supply of critical raw materials for new battery production. In October 2024, Mercedes-Benz (Germany) opened Europe’s first battery recycling plant with an integrated mechanical-hydrometallurgical process, making it the first car manufacturer worldwide to close the battery recycling loop with its in-house facility.
“NMC battery segments hold the prominent market share in the forecast period.”
The increasing use of Nickel Manganese Cobalt (NMC) batteries in electric vehicles has a significant impact on the EV battery recycling market. Recycling of Nickel Manganese Cobalt batteries in electric vehicles involves the extraction of valuable metals, such as nickel, cobalt, and manganese, which can be reused in new batteries. To enhance the recycling process, recyclers are adopting advanced techniques such as hydrometallurgical and pyrometallurgical methods, which separate these metals from the battery components efficiently. Some companies are also developing closed-loop recycling systems, where the extracted materials are directly returned to the production of new batteries, minimizing waste and reducing the need for virgin raw materials. The percentage of NMC battery material that can be extracted through recycling processes typically falls within the range of 80-95% for the combined metals (nickel, manganese, cobalt, and lithium), depending on the specific recycling method and the quality of the spent battery materials used. For instance, in April 2024, Toyota Motor North America announced that it has entered a Cooperative Research and Development Agreement (CRADA) with the U.S. Department of Energy’s Argonne National Laboratory to investigate the development of a direct recycling process for lithium-ion batteries, which are prevalent in new electric vehicles. The focus of the research will be on cathode chemistries made of nickel, manganese, and cobalt. Further, Recyclers are also focusing on improving the overall efficiency of the process to reduce environmental impact and increase the economic viability of NMC battery recycling, as demand for these materials continues to grow with the rise in EV adoption.
“By Material Extraction, Copper hold the significant market share in EV Battery recycling market.”
Copper hold the significant market share in material extraction of EV Battery recycliong market. Recycling copper from EV batteries is critical in resource conservation and reducing environmental impact. Copper is extensively used in EV battery packs, accounting for approximately 20–30 kilograms per vehicle, depending on the model and battery capacity. Recycling efforts focus on recovering high-purity copper through hydrometallurgy, pyrometallurgy, or direct dismantling and separation techniques. Modern recycling facilities can achieve recovery rates of over 95%, ensuring minimal wastage. The recycled copper can be reintroduced into manufacturing, supporting the circular economy and reducing reliance on mining, which is energy-intensive and environmentally harmful. The demand for copper recycling will grow exponentially, potentially reclaiming millions of metric tons of copper and mitigating supply chain pressures and carbon emissions associated with raw material extraction.
“Germany hold the prominent market share in European EV battery recycling market.”
Germany holds a prominent market share in the European EV battery recycling market, driven by its robust automotive industry and strong presence of OEMs like Volkswagen, BMW, and Mercedes-Benz. These manufacturers are actively investing in sustainable practices, including battery recycling, to align with stringent EU regulations on waste management and carbon neutrality. For instance, in October 2024, Mercedes-Benz Group AG has opened a battery recycling plant with an integrated mechanical hydrometallurgical process in Kuppenheim, Germany. Further, advanced infrastructure, government incentives for circular economy initiatives, and partnerships with leading recycling companies further bolster its position. The country's focus on innovation and R&D in battery technologies and recycling processes solidifies its leadership in the European market.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
Research Coverage:
The Market Study Covers the EV battery recycling market by Material Extraction (Lithium, Nickel, Cobalt, Manganese, Iron, Cobalt, Graphite, Steel, Aluminium), Battery chemistry (LFP, NMC, NCA), Vehicle Type (PC, CV, 2-Wheeler), Recycling process (Hydrometallurgical, Pyrometallurgy, & Direct recycling) & Region (Asia Pacific, Europe, and North America). It also covers the competitive landscape and company profiles of the major EV battery recycling market ecosystem players.
Key Benefits of the Report
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall EV battery recycling market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
companies in the market are leveraging innovative technologies such as hydrometallurgy and direct recycling to extract materials efficiently, ensuring the recycled materials meet the quality standards for reuse in new batteries. Further, The market’s growth is also supported by strategic collaborations among automotive manufacturers, battery producers, and recycling firms. In January 2024, Iveco Group (Italy) announced the selection of BASF (Germany), as its first partner to provide a recycling solution for the lithium-ion batteries of Iveco’s EVs. Similarly, many automakers are investing in closed-loop recycling systems, ensuring a steady supply of critical raw materials for new battery production. In October 2024, Mercedes-Benz (Germany) opened Europe’s first battery recycling plant with an integrated mechanical-hydrometallurgical process, making it the first car manufacturer worldwide to close the battery recycling loop with its in-house facility.
“NMC battery segments hold the prominent market share in the forecast period.”
The increasing use of Nickel Manganese Cobalt (NMC) batteries in electric vehicles has a significant impact on the EV battery recycling market. Recycling of Nickel Manganese Cobalt batteries in electric vehicles involves the extraction of valuable metals, such as nickel, cobalt, and manganese, which can be reused in new batteries. To enhance the recycling process, recyclers are adopting advanced techniques such as hydrometallurgical and pyrometallurgical methods, which separate these metals from the battery components efficiently. Some companies are also developing closed-loop recycling systems, where the extracted materials are directly returned to the production of new batteries, minimizing waste and reducing the need for virgin raw materials. The percentage of NMC battery material that can be extracted through recycling processes typically falls within the range of 80-95% for the combined metals (nickel, manganese, cobalt, and lithium), depending on the specific recycling method and the quality of the spent battery materials used. For instance, in April 2024, Toyota Motor North America announced that it has entered a Cooperative Research and Development Agreement (CRADA) with the U.S. Department of Energy’s Argonne National Laboratory to investigate the development of a direct recycling process for lithium-ion batteries, which are prevalent in new electric vehicles. The focus of the research will be on cathode chemistries made of nickel, manganese, and cobalt. Further, Recyclers are also focusing on improving the overall efficiency of the process to reduce environmental impact and increase the economic viability of NMC battery recycling, as demand for these materials continues to grow with the rise in EV adoption.
“By Material Extraction, Copper hold the significant market share in EV Battery recycling market.”
Copper hold the significant market share in material extraction of EV Battery recycliong market. Recycling copper from EV batteries is critical in resource conservation and reducing environmental impact. Copper is extensively used in EV battery packs, accounting for approximately 20–30 kilograms per vehicle, depending on the model and battery capacity. Recycling efforts focus on recovering high-purity copper through hydrometallurgy, pyrometallurgy, or direct dismantling and separation techniques. Modern recycling facilities can achieve recovery rates of over 95%, ensuring minimal wastage. The recycled copper can be reintroduced into manufacturing, supporting the circular economy and reducing reliance on mining, which is energy-intensive and environmentally harmful. The demand for copper recycling will grow exponentially, potentially reclaiming millions of metric tons of copper and mitigating supply chain pressures and carbon emissions associated with raw material extraction.
“Germany hold the prominent market share in European EV battery recycling market.”
Germany holds a prominent market share in the European EV battery recycling market, driven by its robust automotive industry and strong presence of OEMs like Volkswagen, BMW, and Mercedes-Benz. These manufacturers are actively investing in sustainable practices, including battery recycling, to align with stringent EU regulations on waste management and carbon neutrality. For instance, in October 2024, Mercedes-Benz Group AG has opened a battery recycling plant with an integrated mechanical hydrometallurgical process in Kuppenheim, Germany. Further, advanced infrastructure, government incentives for circular economy initiatives, and partnerships with leading recycling companies further bolster its position. The country's focus on innovation and R&D in battery technologies and recycling processes solidifies its leadership in the European market.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
- By Company Type: Tier I - 39%, Tier II - 39%, and OEMs - 22%
- By Designation: C Level Executives - 45%, Directors - 35%, and Others - 20%
- By Region: Asia Pacific-52%, Europe-20%, North America-28%
Research Coverage:
The Market Study Covers the EV battery recycling market by Material Extraction (Lithium, Nickel, Cobalt, Manganese, Iron, Cobalt, Graphite, Steel, Aluminium), Battery chemistry (LFP, NMC, NCA), Vehicle Type (PC, CV, 2-Wheeler), Recycling process (Hydrometallurgical, Pyrometallurgy, & Direct recycling) & Region (Asia Pacific, Europe, and North America). It also covers the competitive landscape and company profiles of the major EV battery recycling market ecosystem players.
Key Benefits of the Report
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall EV battery recycling market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Creation of stable supply chains for EV battery materials, Rising government initiative related to lithium-ion battery recycling, Rising demand for recycled products and materials), restraints (Limited Collection and Recycling Infrastructure), opportunities (Creation of Uniform Recycling Procedures, Advancements in Artificial Intelligence in Battery Recycling), and challenges (Complexity of battery chemistries).
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, in the EV battery recycling market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the EV battery recycling market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the EV battery recycling market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED AND REGIONAL SCOPE
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNIT CONSIDERED
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews: demand and supply sides
2.1.2.2 Breakdown of primary interviews
2.1.2.3 Primary participants
2.1.2.4 Objectives of primary research
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
2.4 FACTOR ANALYSIS
2.5 RESEARCH ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
2.7 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN EV BATTERY RECYCLING MARKET
4.2 EV BATTERY RECYCLING MARKET, BY MATERIAL EXTRACTED
4.3 EV BATTERY RECYCLING MARKET, BY BATTERY CHEMISTRY
4.4 EV BATTERY RECYCLING MARKET, BY VEHICLE TYPE
4.5 EV BATTERY RECYCLING MARKET, BY REGION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Creation of stable supply chains for EV battery materials
5.2.1.2 Stringent government initiatives for lithium-ion battery recycling
5.2.1.3 Surge in demand for recycled products and materials
5.2.2 RESTRAINTS
5.2.2.1 Limited collection and recycling infrastructure
5.2.3 OPPORTUNITIES
5.2.3.1 Advent of uniform recycling procedures
5.2.3.2 Advancements in AI in battery recycling
5.2.4 CHALLENGES
5.2.4.1 Complexity of battery chemistries
5.3 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE, BY MATERIAL EXTRACTED, 2024
5.4.2 AVERAGE SELLING PRICE, BY REGION, 2024
5.5 SUPPLY CHAIN ANALYSIS
5.6 ECOSYSTEM ANALYSIS
5.7 CASE STUDY ANALYSIS
5.7.1 ANGUIL DESIGNS MODEL 300 REGENERATIVE THERMAL OXIDIZER TO CURB EMISSIONS
5.7.2 BMW PARTNERS WITH REDWOOD MATERIALS TO RECYCLE LI-ION BATTERIES FOR CIRCULAR ECONOMY
5.7.3 H1PERBAT PROJECT FOSTERS INNOVATION IN BATTERY TECHNOLOGIES TO MEET DEMAND FOR FUTURE ELECTRIC VEHICLES
5.8 IMPACT OF AI ON EV BATTERY RECYCLING MARKET
5.9 MNM INSIGHTS ON EV BATTERY MANUFACTURING
5.10 MNM INSIGHTS ON SUPPLY AND DEMAND FOR EV BATTERY MATERIALS
5.11 MNM INSIGHTS ON MINING OF EV BATTERY MATERIALS
5.12 MNM INSIGHTS ON SECOND-LIFE BATTERIES
5.12.1 REPURPOSING
5.12.2 REFURBISHMENT
5.13 INVESTMENT AND FUNDING SCENARIO
5.14 PATENT ANALYSIS
5.15 TECHNOLOGY ANALYSIS
5.15.1 KEY TECHNOLOGIES
5.15.1.1 Pyrometallurgy
5.15.1.2 Hydrometallurgy
5.15.1.3 Physical/Mechanical recycling
5.15.2 COMPLEMENTARY TECHNOLOGIES
5.15.2.1 Digital twin and simulation
5.15.3 ADJACENT TECHNOLOGIES
5.15.3.1 Pyrolysis
5.15.3.2 Mechanical thermodynamic recycling
5.16 REGULATORY LANDSCAPE
5.17 KEY CONFERENCES AND EVENTS, 2025–2026
5.18 TRADE ANALYSIS
5.19 KEY STAKEHOLDERS AND BUYING CRITERIA
5.19.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.19.2 BUYING CRITERIA
6 EV BATTERY RECYCLING MARKET, BY RECYCLING PROCESS
6.1 INTRODUCTION
6.2 HYDROMETALLURGY
6.3 PYROMETALLURGY
6.4 DIRECT RECYCLING
6.5 PRIMARY INSIGHTS
7 EV BATTERY RECYCLING MARKET, BY BATTERY CHEMISTRY
7.1 INTRODUCTION
7.2 LITHIUM IRON PHOSPHATE (LFP)
7.2.1 GROWING DEMAND FOR ELECTRIC MOBILITY TO DRIVE MARKET
7.3 NICKEL MANGANESE COBALT (NMC)
7.3.1 RISING ADOPTION OF ADVANCED RECYCLING PROCESSES TO DRIVE MARKET
7.4 NICKEL COBALT ALUMINUM (NCA)
7.4.1 INCREASING EMPHASIS ON SUSTAINABILITY OF EV MANUFACTURING TO DRIVE MARKET
7.5 PRIMARY INSIGHTS
8 EV BATTERY RECYCLING MARKET, BY VEHICLE TYPE
8.1 INTRODUCTION
8.2 PASSENGER CAR
8.2.1 CONSUMER PREFERENCE FOR SUSTAINABLE TRANSPORTATION SOLUTIONS TO DRIVE MARKET
8.3 PICK-UP TRUCK
8.3.1 GOVERNMENT REGULATIONS FOR END-OF-LIFE BATTERY MANAGEMENT TO DRIVE MARKET
8.4 TRUCK
8.4.1 DEGRADATION OF BATTERIES DUE TO LONG-DISTANCE TRAVEL TO DRIVE MARKET
8.5 VAN
8.5.1 PUSH FOR CIRCULAR ECONOMY PRACTICES TO DRIVE MARKET
8.6 BUS
8.6.1 NEED FOR BATTERY RECYCLING DUE TO HIGHER USAGE TO DRIVE MARKET
8.7 TWO-WHEELER
8.7.1 RAPID ADOPTION OF ELECTRIC SCOOTERS AND MOTORCYCLES TO DRIVE MARKET
8.8 PRIMARY INSIGHTS
9 EV BATTERY RECYCLING MARKET, BY MATERIAL EXTRACTED
9.1 INTRODUCTION
9.2 LITHIUM
9.2.1 SURGE IN PRODUCTION OF ELECTRIC VEHICLES TO DRIVE MARKET
9.3 NICKEL
9.3.1 ELEVATED DEMAND FOR SUSTAINABLE RESOURCE MANAGEMENT SOLUTIONS TO DRIVE MARKET
9.4 COBALT
9.4.1 ETHICAL CONCERNS OVER MINING PRACTICES TO DRIVE MARKET
9.5 MANGANESE
9.5.1 EXPANDING DEMAND FOR BATTERY-GRADE MATERIALS TO DRIVE MARKET
9.6 GRAPHITE
9.6.1 FOCUS ON REDUCING DEPENDENCY ON MINED RESOURCES TO DRIVE MARKET
9.7 ALUMINUM
9.7.1 DECREASING STRAIN ON NATURAL BAUXITE RESERVES TO DRIVE MARKET
9.8 COPPER
9.8.1 LESS ENERGY CONSUMPTION BY MODERN RECYCLING FACILITIES TO DRIVE MARKET
9.9 IRON
9.9.1 NEED TO REDUCE ENVIRONMENTAL IMPACT OF BATTERY PRODUCTION AND DISPOSAL TO DRIVE MARKET
9.10 STEEL
9.10.1 EMPHASIS ON CONSERVATION OF NATURAL RESOURCES TO DRIVE MARKET
9.11 PRIMARY INSIGHTS
10 EV BATTERY RECYCLING MARKET, BY REGION
10.1 INTRODUCTION
10.2 ASIA PACIFIC
10.2.1 MACROECONOMIC OUTLOOK
10.2.2 CHINA
10.2.2.1 Circular economy goals to drive market
10.2.3 JAPAN
10.2.3.1 Government policies promoting battery recycling to drive market
10.2.4 SOUTH KOREA
10.2.4.1 Investments in advanced recycling technologies to drive market
10.2.5 INDIA
10.2.5.1 Government initiatives toward cleaner energy to drive market
10.3 EUROPE
10.3.1 MACROECONOMIC OUTLOOK
10.3.2 FRANCE
10.3.2.1 Expansion of consumer electronics and automotive industries to drive market
10.3.3 GERMANY
10.3.3.1 Significant presence of OEMs to drive market
10.3.4 UK
10.3.4.1 Launch of new recycling facilities to drive market
10.3.5 ITALY
10.3.5.1 Compliance with EU regulations to drive market
10.3.6 SPAIN
10.3.6.1 Strategic investments in recycling infrastructure to drive market
10.3.7 DENMARK
10.3.7.1 Commitment to achieving carbon neutrality to drive market
10.4 NORTH AMERICA
10.5 MACROECONOMIC OUTLOOK
10.5.1 US
10.5.1.1 Government regulations for EV battery recycling to drive market
10.5.2 CANADA
10.5.2.1 Implementation of Canadian Environmental Protection Act to drive market
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021–2024
11.3 MARKET SHARE ANALYSIS, 2023
11.4 REVENUE ANALYSIS, 2019–2023
11.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE PLAYERS
11.5.4 PARTICIPANTS
11.5.5 COMPANY FOOTPRINT
11.5.5.1 Company footprint
11.5.5.2 Battery chemistry footprint
11.5.5.3 Recycling process footprint
11.5.5.4 Region footprint
11.6 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2024
11.6.1 PROGRESSIVE COMPANIES
11.6.2 RESPONSIVE COMPANIES
11.6.3 DYNAMIC COMPANIES
11.6.4 STARTING BLOCKS
11.6.5 COMPETITIVE BENCHMARKING
11.6.5.1 List of start-ups/SMEs
11.6.5.2 Competitive benchmarking of start-ups/SMEs
11.7 COMPANY VALUATION AND FINANCIAL METRICS
11.8 BRAND/PRODUCT COMPARISON
11.9 COMPETITIVE SCENARIO
11.9.1 DEALS
11.9.2 EXPANSIONS
11.9.3 OTHERS
12 COMPANY PROFILES
12.1 KEY PLAYERS
12.1.1 UMICORE
12.1.1.1 Business overview
12.1.1.2 Products offered
12.1.1.3 Recent developments
12.1.1.3.1 Deals
12.1.1.4 MnM view
12.1.1.4.1 Key strengths
12.1.1.4.2 Strategic choices
12.1.1.4.3 Weaknesses and competitive threats
12.1.2 GEM CO., LTD.
12.1.2.1 Business overview
12.1.2.2 Products offered
12.1.2.3 Recent developments
12.1.2.3.1 Deals
12.1.2.4 MnM view
12.1.2.4.1 Right to win
12.1.2.4.2 Strategic choices
12.1.2.4.3 Weaknesses and competitive threats
12.1.3 GLENCORE
12.1.3.1 Business overview
12.1.3.2 Products offered
12.1.3.3 Recent developments
12.1.3.3.1 Deals
12.1.3.4 MnM view
12.1.3.4.1 Right to win
12.1.3.4.2 Strategic choices
12.1.3.4.3 Weaknesses and competitive threats
12.1.4 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
12.1.4.1 Business overview
12.1.4.2 Products offered
12.1.4.3 Recent developments
12.1.4.3.1 Deals
12.1.4.3.2 Expansions
12.1.4.3.3 Others
12.1.4.4 MnM view
12.1.4.4.1 Right to win
12.1.4.4.2 Strategic choices
12.1.4.4.3 Weaknesses and competitive threats
12.1.5 FORTUM
12.1.5.1 Business overview
12.1.5.2 Products offered
12.1.5.3 Recent developments
12.1.5.3.1 Deals
12.1.5.3.2 Expansions
12.1.5.4 MnM view
12.1.5.4.1 Right to win
12.1.5.4.2 Strategic choices
12.1.5.4.3 Weaknesses and competitive threats
12.1.6 CIRBA SOLUTIONS
12.1.6.1 Business overview
12.1.6.2 Products offered
12.1.6.3 Recent developments
12.1.6.3.1 Deals
12.1.7 RECYCLICO BATTERY MATERIALS INC.
12.1.7.1 Business overview
12.1.7.2 Products offered
12.1.7.3 Recent developments
12.1.7.3.1 Deals
12.1.7.3.2 Expansions
12.1.8 LI-CYCLE CORP.
12.1.8.1 Business overview
12.1.8.2 Products offered
12.1.8.3 Recent developments
12.1.8.3.1 Deals
12.1.8.3.2 Expansions
12.1.9 ECOBAT
12.1.9.1 Business overview
12.1.9.2 Products offered
12.1.9.3 Recent developments
12.1.9.3.1 Deals
12.1.9.3.2 Expansions
12.1.10 ERAMET
12.1.10.1 Business overview
12.1.10.2 Products offered
12.1.10.3 Recent developments
12.1.10.3.1 Expansions
12.1.11 NEOMETALS LTD.
12.1.11.1 Business overview
12.1.11.2 Products offered
12.1.11.3 Recent developments
12.1.11.3.1 Deals
12.1.11.3.2 Others
12.1.12 ACCUREC-RECYCLING GMBH
12.1.12.1 Business overview
12.1.12.2 Products offered
12.1.12.3 Recent developments
12.1.12.3.1 Expansions
12.1.13 SK TES
12.1.13.1 Business overview
12.1.13.2 Products offered
12.1.13.3 Recent developments
12.1.13.3.1 Deals
12.1.13.3.2 Expansions
12.1.14 STENA RECYCLING
12.1.14.1 Business overview
12.1.14.2 Products offered
12.1.14.3 Recent developments
12.1.14.3.1 Deals
12.1.14.3.2 Expansions
12.1.15 REDWOOD MATERIALS INC.
12.1.15.1 Business overview
12.1.15.2 Products offered
12.1.15.3 Recent developments
12.1.15.3.1 Deals
12.1.15.3.2 Others
12.1.16 ASCEND ELEMENTS, INC.
12.1.16.1 Business overview
12.1.16.2 Products offered
12.1.16.3 Recent developments
12.1.16.3.1 Deals
12.1.16.3.2 Expansions
12.1.17 ACE GREEN RECYCLING
12.1.17.1 Business overview
12.1.17.2 Products offered
12.1.17.3 Recent developments
12.1.17.3.1 Deals
12.1.18 PRIMOBIUS GMBH
12.1.18.1 Business overview
12.1.18.2 Products offered
12.1.18.3 Recent developments
12.1.18.3.1 Deals
12.1.19 SHENZHEN HIGHPOWER TECHNOLOGY CO., LTD.
12.1.19.1 Business overview
12.1.19.2 Products offered
12.2 OTHER PLAYERS
12.2.1 ENVIROSTREAM AUSTRALIA PTY LTD.
12.2.2 DUESENFELD GMBH
12.2.3 LITHION RECYCLING INC.
12.2.4 BATREC INDUSTRIE
12.2.5 SITRASA
12.2.6 TATA CHEMICALS LIMITED
12.2.7 EXIGO RECYCLING PVT. LTD.
12.2.8 ZIPTRAX
12.2.9 BATX ENERGIES
12.2.10 AUSTRALIAN BATTERY RECYCLING INITIATIVE
12.2.11 ATTERO RECYCLING PVT. LTD
12.2.12 TRISHULAVEL ESHAN PVT. LTD. (LI-CIRCLE)
13 RECOMMENDATIONS BY MARKETSANDMARKETS
13.1 ASIA PACIFIC TO BE PROMINENT MARKET FOR EV BATTERY RECYCLING
13.2 ADVANCEMENTS IN EV BATTERY RECYCLING PROCESSES
13.3 GOVERNMENT INITIATIVES FOR BATTERY RECYCLING
13.4 CONCLUSION
14 APPENDIX
14.1 KEY INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 CUSTOMIZATIONS OPTIONS
14.4.1 ADDITIONAL COMPANY PROFILES (UP TO FIVE)
14.4.2 EV BATTERY RECYCLING MARKET, BY MATERIAL, AT COUNTRY LEVEL
14.4.3 EV BATTERY RECYCLING MARKET, BY BATTERY CHEMISTRY,
AT COUNTRY LEVEL
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED AND REGIONAL SCOPE
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNIT CONSIDERED
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews: demand and supply sides
2.1.2.2 Breakdown of primary interviews
2.1.2.3 Primary participants
2.1.2.4 Objectives of primary research
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
2.4 FACTOR ANALYSIS
2.5 RESEARCH ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
2.7 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN EV BATTERY RECYCLING MARKET
4.2 EV BATTERY RECYCLING MARKET, BY MATERIAL EXTRACTED
4.3 EV BATTERY RECYCLING MARKET, BY BATTERY CHEMISTRY
4.4 EV BATTERY RECYCLING MARKET, BY VEHICLE TYPE
4.5 EV BATTERY RECYCLING MARKET, BY REGION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Creation of stable supply chains for EV battery materials
5.2.1.2 Stringent government initiatives for lithium-ion battery recycling
5.2.1.3 Surge in demand for recycled products and materials
5.2.2 RESTRAINTS
5.2.2.1 Limited collection and recycling infrastructure
5.2.3 OPPORTUNITIES
5.2.3.1 Advent of uniform recycling procedures
5.2.3.2 Advancements in AI in battery recycling
5.2.4 CHALLENGES
5.2.4.1 Complexity of battery chemistries
5.3 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE, BY MATERIAL EXTRACTED, 2024
5.4.2 AVERAGE SELLING PRICE, BY REGION, 2024
5.5 SUPPLY CHAIN ANALYSIS
5.6 ECOSYSTEM ANALYSIS
5.7 CASE STUDY ANALYSIS
5.7.1 ANGUIL DESIGNS MODEL 300 REGENERATIVE THERMAL OXIDIZER TO CURB EMISSIONS
5.7.2 BMW PARTNERS WITH REDWOOD MATERIALS TO RECYCLE LI-ION BATTERIES FOR CIRCULAR ECONOMY
5.7.3 H1PERBAT PROJECT FOSTERS INNOVATION IN BATTERY TECHNOLOGIES TO MEET DEMAND FOR FUTURE ELECTRIC VEHICLES
5.8 IMPACT OF AI ON EV BATTERY RECYCLING MARKET
5.9 MNM INSIGHTS ON EV BATTERY MANUFACTURING
5.10 MNM INSIGHTS ON SUPPLY AND DEMAND FOR EV BATTERY MATERIALS
5.11 MNM INSIGHTS ON MINING OF EV BATTERY MATERIALS
5.12 MNM INSIGHTS ON SECOND-LIFE BATTERIES
5.12.1 REPURPOSING
5.12.2 REFURBISHMENT
5.13 INVESTMENT AND FUNDING SCENARIO
5.14 PATENT ANALYSIS
5.15 TECHNOLOGY ANALYSIS
5.15.1 KEY TECHNOLOGIES
5.15.1.1 Pyrometallurgy
5.15.1.2 Hydrometallurgy
5.15.1.3 Physical/Mechanical recycling
5.15.2 COMPLEMENTARY TECHNOLOGIES
5.15.2.1 Digital twin and simulation
5.15.3 ADJACENT TECHNOLOGIES
5.15.3.1 Pyrolysis
5.15.3.2 Mechanical thermodynamic recycling
5.16 REGULATORY LANDSCAPE
5.17 KEY CONFERENCES AND EVENTS, 2025–2026
5.18 TRADE ANALYSIS
5.19 KEY STAKEHOLDERS AND BUYING CRITERIA
5.19.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.19.2 BUYING CRITERIA
6 EV BATTERY RECYCLING MARKET, BY RECYCLING PROCESS
6.1 INTRODUCTION
6.2 HYDROMETALLURGY
6.3 PYROMETALLURGY
6.4 DIRECT RECYCLING
6.5 PRIMARY INSIGHTS
7 EV BATTERY RECYCLING MARKET, BY BATTERY CHEMISTRY
7.1 INTRODUCTION
7.2 LITHIUM IRON PHOSPHATE (LFP)
7.2.1 GROWING DEMAND FOR ELECTRIC MOBILITY TO DRIVE MARKET
7.3 NICKEL MANGANESE COBALT (NMC)
7.3.1 RISING ADOPTION OF ADVANCED RECYCLING PROCESSES TO DRIVE MARKET
7.4 NICKEL COBALT ALUMINUM (NCA)
7.4.1 INCREASING EMPHASIS ON SUSTAINABILITY OF EV MANUFACTURING TO DRIVE MARKET
7.5 PRIMARY INSIGHTS
8 EV BATTERY RECYCLING MARKET, BY VEHICLE TYPE
8.1 INTRODUCTION
8.2 PASSENGER CAR
8.2.1 CONSUMER PREFERENCE FOR SUSTAINABLE TRANSPORTATION SOLUTIONS TO DRIVE MARKET
8.3 PICK-UP TRUCK
8.3.1 GOVERNMENT REGULATIONS FOR END-OF-LIFE BATTERY MANAGEMENT TO DRIVE MARKET
8.4 TRUCK
8.4.1 DEGRADATION OF BATTERIES DUE TO LONG-DISTANCE TRAVEL TO DRIVE MARKET
8.5 VAN
8.5.1 PUSH FOR CIRCULAR ECONOMY PRACTICES TO DRIVE MARKET
8.6 BUS
8.6.1 NEED FOR BATTERY RECYCLING DUE TO HIGHER USAGE TO DRIVE MARKET
8.7 TWO-WHEELER
8.7.1 RAPID ADOPTION OF ELECTRIC SCOOTERS AND MOTORCYCLES TO DRIVE MARKET
8.8 PRIMARY INSIGHTS
9 EV BATTERY RECYCLING MARKET, BY MATERIAL EXTRACTED
9.1 INTRODUCTION
9.2 LITHIUM
9.2.1 SURGE IN PRODUCTION OF ELECTRIC VEHICLES TO DRIVE MARKET
9.3 NICKEL
9.3.1 ELEVATED DEMAND FOR SUSTAINABLE RESOURCE MANAGEMENT SOLUTIONS TO DRIVE MARKET
9.4 COBALT
9.4.1 ETHICAL CONCERNS OVER MINING PRACTICES TO DRIVE MARKET
9.5 MANGANESE
9.5.1 EXPANDING DEMAND FOR BATTERY-GRADE MATERIALS TO DRIVE MARKET
9.6 GRAPHITE
9.6.1 FOCUS ON REDUCING DEPENDENCY ON MINED RESOURCES TO DRIVE MARKET
9.7 ALUMINUM
9.7.1 DECREASING STRAIN ON NATURAL BAUXITE RESERVES TO DRIVE MARKET
9.8 COPPER
9.8.1 LESS ENERGY CONSUMPTION BY MODERN RECYCLING FACILITIES TO DRIVE MARKET
9.9 IRON
9.9.1 NEED TO REDUCE ENVIRONMENTAL IMPACT OF BATTERY PRODUCTION AND DISPOSAL TO DRIVE MARKET
9.10 STEEL
9.10.1 EMPHASIS ON CONSERVATION OF NATURAL RESOURCES TO DRIVE MARKET
9.11 PRIMARY INSIGHTS
10 EV BATTERY RECYCLING MARKET, BY REGION
10.1 INTRODUCTION
10.2 ASIA PACIFIC
10.2.1 MACROECONOMIC OUTLOOK
10.2.2 CHINA
10.2.2.1 Circular economy goals to drive market
10.2.3 JAPAN
10.2.3.1 Government policies promoting battery recycling to drive market
10.2.4 SOUTH KOREA
10.2.4.1 Investments in advanced recycling technologies to drive market
10.2.5 INDIA
10.2.5.1 Government initiatives toward cleaner energy to drive market
10.3 EUROPE
10.3.1 MACROECONOMIC OUTLOOK
10.3.2 FRANCE
10.3.2.1 Expansion of consumer electronics and automotive industries to drive market
10.3.3 GERMANY
10.3.3.1 Significant presence of OEMs to drive market
10.3.4 UK
10.3.4.1 Launch of new recycling facilities to drive market
10.3.5 ITALY
10.3.5.1 Compliance with EU regulations to drive market
10.3.6 SPAIN
10.3.6.1 Strategic investments in recycling infrastructure to drive market
10.3.7 DENMARK
10.3.7.1 Commitment to achieving carbon neutrality to drive market
10.4 NORTH AMERICA
10.5 MACROECONOMIC OUTLOOK
10.5.1 US
10.5.1.1 Government regulations for EV battery recycling to drive market
10.5.2 CANADA
10.5.2.1 Implementation of Canadian Environmental Protection Act to drive market
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021–2024
11.3 MARKET SHARE ANALYSIS, 2023
11.4 REVENUE ANALYSIS, 2019–2023
11.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE PLAYERS
11.5.4 PARTICIPANTS
11.5.5 COMPANY FOOTPRINT
11.5.5.1 Company footprint
11.5.5.2 Battery chemistry footprint
11.5.5.3 Recycling process footprint
11.5.5.4 Region footprint
11.6 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2024
11.6.1 PROGRESSIVE COMPANIES
11.6.2 RESPONSIVE COMPANIES
11.6.3 DYNAMIC COMPANIES
11.6.4 STARTING BLOCKS
11.6.5 COMPETITIVE BENCHMARKING
11.6.5.1 List of start-ups/SMEs
11.6.5.2 Competitive benchmarking of start-ups/SMEs
11.7 COMPANY VALUATION AND FINANCIAL METRICS
11.8 BRAND/PRODUCT COMPARISON
11.9 COMPETITIVE SCENARIO
11.9.1 DEALS
11.9.2 EXPANSIONS
11.9.3 OTHERS
12 COMPANY PROFILES
12.1 KEY PLAYERS
12.1.1 UMICORE
12.1.1.1 Business overview
12.1.1.2 Products offered
12.1.1.3 Recent developments
12.1.1.3.1 Deals
12.1.1.4 MnM view
12.1.1.4.1 Key strengths
12.1.1.4.2 Strategic choices
12.1.1.4.3 Weaknesses and competitive threats
12.1.2 GEM CO., LTD.
12.1.2.1 Business overview
12.1.2.2 Products offered
12.1.2.3 Recent developments
12.1.2.3.1 Deals
12.1.2.4 MnM view
12.1.2.4.1 Right to win
12.1.2.4.2 Strategic choices
12.1.2.4.3 Weaknesses and competitive threats
12.1.3 GLENCORE
12.1.3.1 Business overview
12.1.3.2 Products offered
12.1.3.3 Recent developments
12.1.3.3.1 Deals
12.1.3.4 MnM view
12.1.3.4.1 Right to win
12.1.3.4.2 Strategic choices
12.1.3.4.3 Weaknesses and competitive threats
12.1.4 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
12.1.4.1 Business overview
12.1.4.2 Products offered
12.1.4.3 Recent developments
12.1.4.3.1 Deals
12.1.4.3.2 Expansions
12.1.4.3.3 Others
12.1.4.4 MnM view
12.1.4.4.1 Right to win
12.1.4.4.2 Strategic choices
12.1.4.4.3 Weaknesses and competitive threats
12.1.5 FORTUM
12.1.5.1 Business overview
12.1.5.2 Products offered
12.1.5.3 Recent developments
12.1.5.3.1 Deals
12.1.5.3.2 Expansions
12.1.5.4 MnM view
12.1.5.4.1 Right to win
12.1.5.4.2 Strategic choices
12.1.5.4.3 Weaknesses and competitive threats
12.1.6 CIRBA SOLUTIONS
12.1.6.1 Business overview
12.1.6.2 Products offered
12.1.6.3 Recent developments
12.1.6.3.1 Deals
12.1.7 RECYCLICO BATTERY MATERIALS INC.
12.1.7.1 Business overview
12.1.7.2 Products offered
12.1.7.3 Recent developments
12.1.7.3.1 Deals
12.1.7.3.2 Expansions
12.1.8 LI-CYCLE CORP.
12.1.8.1 Business overview
12.1.8.2 Products offered
12.1.8.3 Recent developments
12.1.8.3.1 Deals
12.1.8.3.2 Expansions
12.1.9 ECOBAT
12.1.9.1 Business overview
12.1.9.2 Products offered
12.1.9.3 Recent developments
12.1.9.3.1 Deals
12.1.9.3.2 Expansions
12.1.10 ERAMET
12.1.10.1 Business overview
12.1.10.2 Products offered
12.1.10.3 Recent developments
12.1.10.3.1 Expansions
12.1.11 NEOMETALS LTD.
12.1.11.1 Business overview
12.1.11.2 Products offered
12.1.11.3 Recent developments
12.1.11.3.1 Deals
12.1.11.3.2 Others
12.1.12 ACCUREC-RECYCLING GMBH
12.1.12.1 Business overview
12.1.12.2 Products offered
12.1.12.3 Recent developments
12.1.12.3.1 Expansions
12.1.13 SK TES
12.1.13.1 Business overview
12.1.13.2 Products offered
12.1.13.3 Recent developments
12.1.13.3.1 Deals
12.1.13.3.2 Expansions
12.1.14 STENA RECYCLING
12.1.14.1 Business overview
12.1.14.2 Products offered
12.1.14.3 Recent developments
12.1.14.3.1 Deals
12.1.14.3.2 Expansions
12.1.15 REDWOOD MATERIALS INC.
12.1.15.1 Business overview
12.1.15.2 Products offered
12.1.15.3 Recent developments
12.1.15.3.1 Deals
12.1.15.3.2 Others
12.1.16 ASCEND ELEMENTS, INC.
12.1.16.1 Business overview
12.1.16.2 Products offered
12.1.16.3 Recent developments
12.1.16.3.1 Deals
12.1.16.3.2 Expansions
12.1.17 ACE GREEN RECYCLING
12.1.17.1 Business overview
12.1.17.2 Products offered
12.1.17.3 Recent developments
12.1.17.3.1 Deals
12.1.18 PRIMOBIUS GMBH
12.1.18.1 Business overview
12.1.18.2 Products offered
12.1.18.3 Recent developments
12.1.18.3.1 Deals
12.1.19 SHENZHEN HIGHPOWER TECHNOLOGY CO., LTD.
12.1.19.1 Business overview
12.1.19.2 Products offered
12.2 OTHER PLAYERS
12.2.1 ENVIROSTREAM AUSTRALIA PTY LTD.
12.2.2 DUESENFELD GMBH
12.2.3 LITHION RECYCLING INC.
12.2.4 BATREC INDUSTRIE
12.2.5 SITRASA
12.2.6 TATA CHEMICALS LIMITED
12.2.7 EXIGO RECYCLING PVT. LTD.
12.2.8 ZIPTRAX
12.2.9 BATX ENERGIES
12.2.10 AUSTRALIAN BATTERY RECYCLING INITIATIVE
12.2.11 ATTERO RECYCLING PVT. LTD
12.2.12 TRISHULAVEL ESHAN PVT. LTD. (LI-CIRCLE)
13 RECOMMENDATIONS BY MARKETSANDMARKETS
13.1 ASIA PACIFIC TO BE PROMINENT MARKET FOR EV BATTERY RECYCLING
13.2 ADVANCEMENTS IN EV BATTERY RECYCLING PROCESSES
13.3 GOVERNMENT INITIATIVES FOR BATTERY RECYCLING
13.4 CONCLUSION
14 APPENDIX
14.1 KEY INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 CUSTOMIZATIONS OPTIONS
14.4.1 ADDITIONAL COMPANY PROFILES (UP TO FIVE)
14.4.2 EV BATTERY RECYCLING MARKET, BY MATERIAL, AT COUNTRY LEVEL
14.4.3 EV BATTERY RECYCLING MARKET, BY BATTERY CHEMISTRY,
AT COUNTRY LEVEL
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
