Market Introduction
The North America Lithium-ion Battery Recycling Market are becoming crucial and are found in large proportion among industries including automotive, mining, consumer electronics and many more. Smartphones, cordless power tools, laptops, tablets, and grid-energy storage, electric vehicles are the prominent applications where lithium-ion batteries are used at a massive rate. Companies such as Tesla and Envirostream are taking necessary steps to promote lithium-ion battery markets. Factors such as improper disposal of lithium-ion battery, recovery of valuable metals through disposal of lithium-ion batteries, and government initiatives for lithium-ion battery recycling are contributing towards the market growth.
Also, the ongoing COVID-19 pandemic is having a very devastating impact over the North America region. Presently, the US is the worst affected country due to COVID-19 outbreak. The US is one of the largest markets for lithium-ion battery recycling especially in space, military, and aerospace sectors. The US is the worst-hit country in North America. The continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders. The majority of the manufacturing plants are shut down, municipalities are functioning slowly as compared to the past, and the industries industries are at a halt, which is negatively impacting the market.
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North America Lithium-ion Battery Recycling Strategic Insights
Strategic insights for the North America Lithium-ion Battery Recycling provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
- American Manganese Inc.
- Eco-Bat Technologies
- International Metals Reclamation Company (INMETCO)
- Li-Cycle Corp.
- Retriev Technologies
- TES
Market Overview and Dynamics
The lithium-ion battery recycling market in North America is expected to grow from US$ 35.90 million in 2019 to US$ 139.56 million by 2027; it is estimated to grow at a CAGR of 21.4% from 2020 to 2027. Presently, many large pyro metallurgy facilities are engaged in the recycling of lithium-ion batteries. These facilities usually operate at ~1500 °C to recover various metals such as cobalt, nickel, lithium, aluminum, copper, or any other organic compounds. These facilities are usually capital intensive owing to the requirement for treating the emission of toxic fluorine compounds, which are released while smelting.
Key Market Segments
In terms of battery chemistry, the lithium-nickel manganese cobalt segment led the North America lithium-ion battery recycling market in 2019. In terms of industry, consumer electronics segment led the lithium-ion battery recycling market in 2019.
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