The electric vehicle lithium-ion battery recycling market involves collecting, disassembling, and processing used electric vehicle batteries, aiming to recover valuable materials such as lithium, cobalt, and nickel. This process is crucial due to the surge in electric vehicle adoption globally. These materials can then be employed in producing new batteries, lessening the demand for raw materials. Advanced recycling technologies are emerging, reducing energy costs and waste management expenses, aligning with sustainability goals and the expanding EV industry.
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Data Bridge Market Research analyses that the Europe Electric Vehicle Lithium-Ion Battery Recycling Market is expected to grow at a CAGR of 21.3% in the forecast period of 2022 to 2029 and is expected to reach USD 2,76,835.03 thousand by 2029 from USD 59,065.60 thousand in 2021. The rising adoption of electric vehicles in Europe has led to a surge in lithium-ion batteries, necessitating efficient recycling solutions to manage the growing battery waste, aligning with environmental sustainability goals.
Key Findings of the Study
Technological advancements are expected to drive the market's growth rate
Ongoing research and development efforts in battery recycling are yielding technological advancements that enhance the efficiency and cost-effectiveness of the process. These innovations involve the development of more effective methods for recovering valuable materials from used lithium-ion batteries, streamlining the recycling workflow, and reducing associated costs. As a result, these advancements are pivotal in supporting the growth and sustainability of the Europe electric vehicle lithium-ion battery recycling market, aligning with environmental goals and economic viability. For instance, advanced hydrometallurgical processes are being developed, enabling the recovery of valuable materials from lithium-ion batteries with higher precision and lower costs.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Process (Pyrometallurgical, Hydrometallurgical, and Others), Application (Passenger Car and Commercial Vehicle)
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Countries Covered
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Switzerland, Italy, Germany, France, U.K, Spain, Belgium, Netherlands, Russia, Turkey, Luxemburg, Rest of Europe.
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Market Players Covered
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Umicore (Belgium), American Manganese Inc. (Canada), Glencore (Switzerland), FORTUM (Finland), Duesenfeld GmbH (Germany), ACCURE-Recycling GmbH (Germany), Tata Chemicals Ltd. (India), ECOBAT (U.K), Ganfeng Lithium (China)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Europe electric vehicle lithium-ion battery recycling market is segmented on the basis of process and application.
- On the basis of process, the Europe electric vehicle lithium-ion battery recycling market is segmented into pyrometallurgical, hydrometallurgical, and others. In 2022, the pyrometallurgical segment is expected to dominate the Europe electric vehicle lithium-ion battery recycling market. The pyrometallurgical process allows a short-process chain and less environmental impact, increasing global demand. The demand for pyrometallurgical is increasing due to the acceptance of various battery chemistries and more effortless scalability.
In 2022, the pyrometallurgical segment of the process segment is anticipated to dominate the Europe electric vehicle lithium-ion battery recycling market
In 2022, the pyrometallurgical segment is expected to dominate the Europe electric vehicle lithium-ion battery recycling market. The pyrometallurgical process allows a short-process chain and less environmental impact, increasing global demand. The demand for pyrometallurgical is increasing due to the acceptance of various battery chemistries and more effortless scalability.
- On the basis of application, the Europe electric vehicle lithium-ion battery recycling market is segmented into passenger car and commercial vehicle. In 2022, the passenger car segment is expected to dominate the Europe electric vehicle lithium-ion battery recycling market as passenger cars have lower fueling and maintenance costs. The EU regulation has set mandatory targets for average fleet CO2 emissions for new cars, making the passenger car segment dominant in the region.
Major Players
Data Bridge Market Research recognizes the following companies as the major Europe electric vehicle lithium-ion battery recycling market players in Europe electric vehicle lithium-ion battery recycling market are Umicore (Belgium), American Manganese Inc. (Canada), Glencore (Switzerland), FORTUM (Finland), Duesenfeld GmbH (Germany), ACCURE-Recycling GmbH (Germany), Tata Chemicals Ltd. (India).
Market Developments
- In March 2021, Umicore, a leading materials technology and recycling company, announced a collaboration with BMW Group. They will work together to develop a sustainable closed-loop for electric vehicle batteries, emphasizing recycling and recovery, further contributing to the growth of the European Electric Vehicle Lithium-Ion Battery Recycling Market.
- In March 2021, American Manganese Inc. made a significant move by signing a Memorandum of Understanding with Italvolt. The collaboration aims to establish a commercial recycling plant adjacent to Italvolt's upcoming Gigafactory in Scarmagno, Italy. American Manganese's patented lithium-ion battery cathode recycling process, RecycLiCo, plays a pivotal role in this partnership, fostering sustainability in battery manufacturing and recycling.
- In April 2021, Ganfeng Lithium Co., Ltd. expanded its battery-grade lithium hydroxide project, doubling the annual output from 25,000 to 50,000 tons. This strategic move allows GanfengLithium to harness cross-sector synergies and diversify within the lithium industry, offering high-quality products to a broader range of customers.
- In August 2021, FORTUM and Valmet Automotive joined forces to sustainably recycle non-conforming battery materials from Valmet's plants in Salo and Uusikaupunki. This collaboration promotes a circular economy, fostering sustainable development and enhancing the value chain for both companies.
Regional Analysis
Geographically, the countries covered in the Europe electric vehicle lithium-ion battery recycling market report are Switzerland, Italy, Germany, France, U.K, Spain, Belgium, Netherlands, Russia, Turkey, Luxemburg, Rest of Europe.
As per Data Bridge Market Research analysis:
Germany is the dominant region in Europe electric vehicle lithium-ion battery recycling market during the forecast period 2022-2029
Germany's dominance in the Europe electric vehicle lithium-ion battery recycling market is attributed to the surging demand for zero-emission vehicles. As a leader in sustainable automotive technology, Germany is at the forefront of electric vehicle adoption, fostering the need for efficient battery recycling. The country's commitment to reducing emissions and supporting eco-friendly transport solutions positions it as a key player in advancing the lithium-ion battery recycling market.
France is estimated to be the fastest-growing region in Europe electric vehicle lithium-ion battery recycling market for the forecast period 2022-2029
France is poised to lead the European electric vehicle lithium-ion battery recycling market owing to its competitive edge in lower operating and maintenance costs. This advantage makes the recycling industry in France more cost-effective and attractive for businesses. As a result, the nation is expected to play a prominent role in shaping the sustainable future of electric vehicle battery recycling in the European region.
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