North American Market for Lithium Battery Recycling to Reach $3.2 Billion by 2023

September 21, 2018

WELLESLEY, Mass., Sept 21, 2018 – Due to the growing requirements that have assisted in research and development activities, the North American market for lithium battery recycling has made significant progress over the past few years, according to a recent report from BCC Research.

In 2018, the North American market for lithium battery recycling was worth $1.2 billion. However, BCC Research estimates that it will reach a value of $3.2 billion by 2023, indicating a compound annual growth rate (CAGR) of 22.7%, according to Lithium Battery Recycling: North American Markets.

Lithium batteries can be categorized into two segments: disposable and rechargeable. Disposable batteries use lithium in a metallic form as an anode causing a long life (high charge density) when compared to other standard batteries. These batteries find application in critical devices that are long lasting such as pacemakers, along with other electronic medical devices that are implanted for many years.

Research Highlights

  • The recycling for batteries consisting of lithium ions mainly occurs through metal refining and chemical synthesis processes that recover and reprocess partially processed feedstock.
  • The secondary lithium batteries (rechargeable) emerged as the fastest growing battery market due to their extensive usage in cell phones, laptop computers and camcorders (also known as the “three-c” market).
  • The growth of the market is hindered due to factors such as the supply and demand gap in the lithium market.

“With the increase in the usage of the lithium batteries across various industries, the number of spent batteries is also reaching new heights,” the report noted. “To best utilize resources and to reduce the dumping of lithium batteries into the environment causing pollution, various governments and companies are looking for new methods to reuse lithium batteries through recycling.”

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Lithium Battery Recycling: North America Markets( FCB044A )
Publish Date: Aug 2018    

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