Lithium Ion battery recycling market was valued at USD 10.4 billion in 2023 and is projected to grow to USD 27.8 billion by 2030, with a compound annual growth rate (CAGR) of 15.6% from 2024 to 2030. Lithium-ion battery recycling technology is undergoing innovation, transforming the market to make the process more efficient and sustainable.
Pune, Maharashtra, India, 19th Jun 2025 – In 2024, lithium-ion battery recycling market continued to be a pressing issue, with a substantial percentage of end-of-life batteries remaining unrecycled. The global recycling rate for lithium-ion batteries reached approximately 59%, indicating that around 41% were not recycled and often ended up in landfills. This challenge is particularly pronounced in emerging markets like India, where the recycling infrastructure is still in its nascent stages. Within the electric vehicle (EV) sector, the recycling rate was alarmingly low, with only about 5% of EV batteries being recycled, leaving a staggering 95% unreclaimed. Furthermore, industry analysts suggest that up to 98.3% of smaller-format lithium-ion batteries, commonly found in consumer electronics, may still be disposed of without appropriate recycling measures in place.
The discrepancy between battery production and recycling presents a significant challenge in environmental and resource management. As concerns about the availability of essential raw materials such as cobalt, lithium, and nickel grow, along with the environmental risks associated with improper disposal, enhancing battery recycling initiatives has emerged as a critical priority for governments, manufacturers, and environmental organizations globally.
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Innovations in recycling technologies are essential for progressing the lithium-ion battery recycling market by enhancing efficiency and reducing costs. Significant advancements include direct recycling methods and improved separation processes.
Direct recycling techniques aim to maintain the original structure of the battery, facilitating the recovery of high-value materials such as lithium, cobalt, and nickel with minimal chemical processing. This approach diminishes the environmental footprint and lowers expenses compared to traditional recycling methods.
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In February 2024, Cirba Solutions and EcoPro signed a memorandum of understanding (MoU) to enhance the recycling of lithium-ion batteries. This collaboration is crucial due to the rising demand for battery materials and the emphasis on clean energy production in the US.
In April 2022, Umicore entered into a long-term strategic supply agreement with Automotive Cells Company (ACC) for battery recycling services. Upon completing the Umicore recycling process, the recovered metals are delivered to the ACC pilot plant in Nersac, France, in battery-grade quality, enabling them to be reused in manufacturing new Li-ion batteries.
In August 2021, Glencore formed a long-term strategic partnership with Britishvolt, a leader in electric vehicle battery technology and production in the UK. Through this partnership, Glencore supplies Britishvolt with cobalt. This collaboration strengthened Glencore’s position in the lithium-ion battery recycling market through its product portfolio.
Key USP of the report:
- Market snapshot (2024 size USD Million & Units, CAGR forecast)
- Key highlights (growth areas, major shifts, etc.)
- Company profiles (market share, product offerings, plant locations)
- Key strategies: M&A, expansions, partnerships
- SWOT analysis for top players
- Benchmarking: technology, scale, sustainability commitments
- CAPEX & OPEX for recycling plants
- ROI and break-even periods
- Government incentives and subsidies
- Private equity & venture capital trends
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