Dublin, May 07, 2025 (GLOBE NEWSWIRE) — The “EV Battery Recycling Market by Material Extraction (Lithium, Nickel, Cobalt, Manganese, Iron, Cobalt, Graphite, Steel, Aluminium), Battery Chemistry (LFP, NMC, NCA), Vehicle Type, Recycling Process & Region – Global Forecast to 2035” has been added to ResearchAndMarkets.com’s offering.
The global EV battery recycling market is projected to grow significantly, with its value increasing from USD 0.54 billion in 2024 to USD 23.72 billion by 2035, at a CAGR of 40.9%.
The study comprehensively covers material extraction, battery chemistry, vehicle type, and recycling processes across major geographical regions. Key benefits of the report include an in-depth competitive analysis, market leader strategies, insights into market drivers, challenges, opportunities, and detailed evaluations of major market players.
The report underscores trends in supply chain stability, government initiatives on battery recycling, and the rising demand for recycled products. It also highlights innovations, market diversification, and competitive assessments, offering stakeholders critical insights for strategizing market entry and positioning efforts effectively.
Key advancements such as hydrometallurgy and direct recycling are allowing companies to efficiently extract reusable materials, meeting quality standards essential for new battery production. Strategic partnerships between automotive manufacturers, battery producers, and recycling firms are further propelling market growth.
In January 2024, Iveco Group from Italy partnered with Germany’s BASF to develop a recycling solution for lithium-ion batteries. Similar initiatives are being undertaken by automakers with investments in closed-loop recycling systems to secure a consistent supply of critical raw materials. October 2024 saw Mercedes-Benz launch Europe’s first battery recycling plant featuring an integrated mechanical-hydrometallurgical process, marking a significant step in closing the battery recycling loop internally.
NMC Battery Segments: Market Leaders
NMC batteries are pivotal within the EV battery recycling landscape due to the extraction of nickel, cobalt, and manganese. Innovators are employing advanced recycling techniques such as hydrometallurgical and pyrometallurgical processes to efficiently recover these metals. This approach supports a circular economy by embedding a high percentage of extracted materials back into new battery production, minimizing waste and reliance on virgin resources.
In April 2024, Toyota Motor North America initiated a venture with the U.S. Department of Energy’s Argonne National Laboratory focused on direct recycling of lithium-ion batteries, concentrating on cathode chemistries. As EV adoption rises, recyclers are keen to enhance efficiency, reducing environmental impact and boosting economic benefits.
Material Extraction: Copper’s Prominence
Copper extraction plays a crucial role in the EV battery recycling market. Key recycling methods result in over 95% recovery rates, reducing environmental strain and supporting the circular economy by feeding reclaimed copper back into manufacturing. As demand grows, recycling copper could greatly mitigate supply chain and environmental pressures.
Germany Leads in European Market
Germany stands as a key player within the European EV battery recycling market, fueled by its strong automotive sector and compliance with stringent EU regulations. Companies like Volkswagen, BMW, and Mercedes-Benz are actively participating in sustainable practices. October 2024 marked the opening of Mercedes-Benz’s battery recycling plant in Kuppenheim with advanced facilities dedicated to battery technology and recycling innovation.
Various organizational leaders including CEOs and directors provided insights for the market study. Participating entities were classified into Tier I, II, and OEMs, with a geographical focus across Asia Pacific, Europe, and North America. Dominant players encompass Contemporary Amperex Technology Co., Limited, GEM Co., Ltd., Umicore, Glencore, and Fortum.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 284 |
| Forecast Period | 2024 – 2035 |
| Estimated Market Value (USD) in 2024 | $0.54 Billion |
| Forecasted Market Value (USD) by 2035 | $23.72 Billion |
| Compound Annual Growth Rate | 40.9% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Creation of Stable Supply Chains for EV Battery Materials
- Stringent Government Initiatives for Lithium-Ion Battery Recycling
- Surge in Demand for Recycled Products and Materials
Challenges
- Limited Collection and Recycling Infrastructure
- Complexity of Battery Chemistries
Opportunities
- Advent of Uniform Recycling Procedures
- Advancements in AI in Battery Recycling
Case Studies
- Anguil Designs Model 300 Regenerative Thermal Oxidizer to Curb Emissions
- BMW Partners with Redwood Materials to Recycle Li-Ion Batteries for Circular Economy
- H1Perbat Project Fosters Innovation in Battery Technologies to Meet Demand for Future Electric Vehicles
Company Profiles
- Umicore
- Gem Co. Ltd.
- Glencore
- Contemporary Amperex Technology Co. Limited
- Fortum
- Cirba Solutions
- Recyclico Battery Materials Inc.
- Li-Cycle Corp.
- Ecobat
- Eramet
- Neometals Ltd.
- Accurec-Recycling GmbH
- Sk Tes
- Stena Recycling
- Redwood Materials Inc.
- Ascend Elements, Inc.
- Ace Green Recycling
- Primobius GmbH
- Shenzhen Highpower Technology Co. Ltd.
- Envirostream Australia Pty Ltd.
- Duesenfeld GmbH
- Lithion Recycling Inc.
- Batrec Industrie
- Sitrasa
- Tata Chemicals Limited
- Exigo Recycling Pvt. Ltd.
- Ziptrax
- Batx Energies
- Australian Battery Recycling Initiative
- Attero Recycling Pvt. Ltd.
- Trishulavel Eshan Pvt. Ltd. (Li-Circle)
For more information about this report visit https://www.researchandmarkets.com/r/3irk2p
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- EV Battery Recycling Market
