The consumer electronics segment is another significant end-user segment of the lithium-ion battery recycling market, driven by the growing demand for portable electronic devices such as smartphones, laptops, and tablets. The growth is attributed to several factors, including the rising demand for electric vehicles, increasing renewable energy generation, and government support. In addition, the growing use of portable electronic devices and technological advancements in lithium-ion battery technology is expected to further drive market growth. The automotive industry is investing heavily in the development of lithium-ion battery technology. For instance, Volkswagen has announced plans to invest $29 billion in electric and autonomous vehicles, with a significant portion of this investment going toward the development of lithium-ion batteries.
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Data Bridge Market Research analyzes that the Middle East and Africa Lithium-Ion Battery Recycling Market is expected to grow at a CAGR of 12.8% in the forecast period of 2021 to 2030 and is expected to reach USD 4,709.96 million by 2030. The Lithium Cobalt Oxide (LCO) segment is projected to propel the market growth due to its wide applications in consumer electronics due to its wide applications in consumer electronics.
Key Findings of the Study
- Middle East and Africa lithium-ion battery recycling market was valued at USD 84.12 million in 2022 and is expected to reach USD 355.46 million by 2030, registering a CAGR of 21.9% during the forecast period of 2023 to 2030
- The lithium cobalt oxide segment is expected to dominate the market due to its wide applications in consumer electronics due to its wide applications in consumer electronics
- The increase in demand for smartphones and consumer electronics and growing demand for smart devices and wearables are expected to act as a major factor for the growth of the Middle East and Africa lithium-ion battery recycling market
- The rising requirement for lithium-ion batteries in industrial and medical applications is expected to act as another major growth factor for the Middle East and Africa lithium-ion battery recycling market
- Safety issue related to lithium-ion batteries is expected to act as a major restraint for the Middle East and Africa lithium-ion battery recycling market
Increase in demand for smartphones and consumer electronics
The demands and requirements of consumer electronics have continued to increase at an exponential rate. Lithium-ion batteries are common in consumer electronics. They are one of the most popular types of rechargeable batteries for portable electronics, with proper energy-to-weight ratios, high open-circuit voltage, and low self-discharge rate. The advancement in technologies has compacted the size of electronic devices, making them slimmer and lightweight, which is increasing the requirement for lithium-ion batteries. These batteries last longer, charge faster and have a higher power density for more battery life in a lighter package.
Moreover, 1 kg of a lithium-ion battery can store up to 150 watt-hours of electricity, whereas the lead-acid battery can store only 25 watt-hours per kg. The benefits offered by lithium-ion batteries have increased the requirement in consumer electronics. Moreover, as people are getting more inclined towards digitalization, more advancing electronics are being developed. Hence, an increase in demand for smartphones and consumer electronics is expected to boost market growth.
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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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in Million, and Pricing in USD
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Segments Covered
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By Chemistry (Lithium-Nickel Manganese Cobalt (LI-NMC), Lithium Cobalt Oxide (LCO), Lithium-Manganese Oxide (LMO), Lithium-Iron Phosphate (LFP), Lithium-Nickel Cobalt Aluminum Oxide (NCA), Lithium-Titanate Oxide (LTO)), Components (Active Material And Non-Active Material), Recycling Process (Hydrometallurgical Process, Pyrometallurgy Process And Physical/ Mechanical Process)
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Countries Covered
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South Africa, Egypt, Saudi Arabia, U.A.E, Israel, and rest of the Middle East and Africa
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Market Players Covered
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Contemporary Amperex Technology Co., Limited, Glencore, GEM Co., Ltd., Umicore, Tata Chemicals Ltd., Green Land Recycling LLC, Veolia, Dubatt, among others
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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 depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis
Middle East and Africa lithium-ion battery recycling market is segmented into six notable segments based on type, components, capacity, voltage, product, and end-use.
- On the basis of chemistry, the market is segmented into lithium-nickel manganese cobalt (LI-NMC), lithium cobalt oxide (LCO), lithium-manganese oxide (LMO), lithium-iron phosphate (LFP), lithium-nickel cobalt aluminum oxide (NCA), lithium-titanate oxide (LTO). In 2023, the lithium cobalt oxide segment is expected to dominate the market with a market share of 27.60% due to its wide applications in consumer electronics due to its wide applications in consumer electronics
In 2023the lithium cobalt oxide segment is expected to dominate the market
In 2023, the lithium cobalt oxide segment is expected to dominate the market with a market share of 27.60% due to its wide applications in consumer electronics due to its wide applications in consumer electronics.
- On the basis of components, the market is segmented into active material and non-active material
- On the basis of recycling process, the market is segmented into hydrometallurgical process, pyrometallurgy process and physical/ mechanical process. In 2023, the hydrometallurgical process segment is expected to dominate the market with a market share of 46.07
Major Players
Data Bridge Market Research recognizes the following companies as the major lithium-ion battery recycling market players in the Middle East & Africa lithium-ion battery recycling market, which are LG Chem, Contemporary Amperex Technology Co., Limited, Panasonic Industry, BYD Company Limited., SAMSUNG SDI CO., LTD, Saft, GS Yuasa Technology Ltd, VARTA AG., Amperex Technology Limited. , GlobTek, Inc., Leclanché SA, LITHIUMWERKS, TOSHIBA CORPORATION, Xiamen Tmax Battery Equipments Limited., Jiangxi JingJiu Power Science& Technology Co.,LTD., Shenzhen Grepow Battery Co., Ltd., Shuangdeng Group Co, Ltd, Codi Energy Ltd., EXIDE INDUSTRIES LIMITED, and SK Inc., among others.
Market Development
- In February 2023, SK Inc. announced that they are targeting to raise USD 1.6 billion to USD 2.4 billion, and this money will be raised to expand the battery business of a company under SK Innovation
- In January 2023, Contemporary Amperex Technology Co., Limited. announced a strategic partnership with NIO. This partnership between the two companies made advanced technological cooperation in new brands, new projects and new markets
- In January 2023, Golden Saft revived a contract from Meridian Energy to construct New Zealand’s first large-scale grid-connected BESS
- In January 2023, Panasonic Corporation established a partnership with ATCO Australia in the latest renewable energy initiative. This partnership will help the company enhance its finances and positively impact the growth of the global programmable logic controller automation market
- In October 2021, SAMSUNG SDI CO., LTD. and Stellantis created a joint venture for lithium-ion battery production in North America and the Middle East region. This venture includes various lithium-ion battery production plants and research centers
Regional Analysis
Geographically, the countries covered in the Middle East & Africa lithium-ion battery recycling market are Israel, South Africa, Saudi Arabia, U.A.E., Egypt and rest of Middle East & Africa. In 2023, Israel is expected to dominate the market due to major manufacturers are mostly extracting raw materials required for the recycling process in this region.
As per Data Bridge Market Research analysis:
Israel is the dominant region in Middle East & Africa lithium-ion battery recycling market during the forecast period 2023 - 2030
In 2022, Israel lithium-ion battery recycling market has witnessed dominate the market with largest share due to the presence of a large number of established battery manufacturers, coupled with the stringent regulatory standards and most of the key players of the market are extracting raw materials required for the recycling process in this region.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant impact on the global economy, including the lithium-ion battery recycling market in the Middle East and Africa (MEA) region. The COVID-19 pandemic has disrupted the global supply chain, which has affected the lithium-ion battery recycling market in MEA. The lockdowns, travel restrictions, and border closures have led to a shortage of raw materials and components required for manufacturing batteries, leading to production delays and higher costs.
Many businesses have delayed their investment plans due to the uncertainty caused by the pandemic. This has impacted the growth of the MEA lithium-ion battery recycling market, as many manufacturers and suppliers have had to scale back their expansion plans. The COVID-19 pandemic has also led to reduced demand for lithium-ion batteries in MEA. Many businesses have closed down or reduced their operations, leading to lower demand for batteries used in electric vehicles and renewable energy storage. The pandemic has also resulted in a shift towards remote work, which has reduced the demand for batteries used in laptops, smartphones, and other portable electronic devices
On the positive side, some governments in MEA have announced stimulus packages and financial support to promote the growth of the lithium-ion battery recycling market. This support has helped offset some of the negative impacts of the pandemic. The MEA lithium-ion battery recycling market is expected to recover and grow in the long term. The growing demand for electric vehicles, renewable energy storage, and portable electronic devices, coupled with the increasing government support, is expected to drive the growth of the market in the coming years. However, it is likely that the market will face some short-term challenges due to ongoing pandemic-related disruptions in the global supply chain.
Overall, the COVID-19 pandemic has had a mixed impact on the MEA lithium-ion battery recycling market, with supply chain disruptions and reduced demand being the main negative effects, while government support has been a positive factor.
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