BANGALORE, India, June 26, 2019 /PRNewswire/ -- As lithium-ion (Li-ion) batteries continue to electrify our world, over 11 million ton of spent Li-ion batteries will be discarded through to 2030. This means a very significant opportunity exists for Lithium Ion Battery Recycling.
The prospect of a growing lithium ion battery (LIB) recycling industry is real, recycling is mandatory for supplying the materials needed by the tremendous grow of the lithium ion batteries industry in the coming years. With the clear signals that the LIB market is to take off owing to a dramatic rise in the use of electric vehicles (EV) in the near future
The Global Lithium Ion Battery Recycling market is expected to reach $8470.66 million by 2025 from $1222.34 million in 2019, growing at a CAGR of 38.08% from 2019 to 2025.
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Market Trends:
Rising demand for electric vehicles due to government regulations and subsidies encouraging battery recycling, and growing demand for smart devices in emerging economies are the key factors driving the growth of this market.Automotive is projected to be the largest industry segment of the lithium-ion battery recycling market.
Chemical manufacturers across the world have been supporting governments and have also been adhering to the rules and regulations made by respective authorities towards sustainable initiatives and green revolution. The developmental growth of bio-alternatives is also driving the growth of the chemical and material industry. Not only this, various academics and research institutes are cooperating with manufacturers across the world to develop sustainable alternatives for most common chemical substrates which are widely used in the globe.
Several companies are now eyeing further developments in green chemistry. Rapid shift towards environment-friendly chemicals is expected to gain impetus in the years to come after effectively made government regulations and preferences of end users. Increasing the cost of fossil fuels is also expected to drive the industry of chemical and material in a coming decade.
Reduction in the dependency on volume-driven growth can be seen due to increasing recycling practices which are impacting the sales of virgin materials. New materials that are available in the market are showing their potential for growth, however, chemical firms are yet to achieve a large amount of production of these materials along with high-quality maintenance.
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The following manufacturers are covered:
- Umicore
- GEM
- Brunp Recycling
- SungEel HiTech
- Taisen Recycling
- Batrec
- Retriev Technologies
- Tes-Amm(Recupyl)
- Duesenfeld
- 4R Energy Corp
- OnTo Technology
Segment by Type
- LiCoO2 Battery
- NMC Battery
- LiFePO4 Battery
- Other
Segment by Application
- Automotive
- Marine
- Industrial
- Electric Power
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Segmental Analysis:
In market research, detailed segmentation of market plays the significant role. It classifies a large market into tiny parts based on various parameters. Apart from this, these segments are thoroughly evaluated on an individual basis and a team of analysts has ensured to give a crystal clear idea about various lucrative segments of the chemical and material industry. This detailed analysis of segmentation help in offering precise results about the markets related to chemical and material industry.
Regional Analysis:
This research report has presented various market segments with an in-depth analysis of key regions. Based on the regions the market is classified into the Middle East and Africa, Eastern & Western Europe, Latin America, the Asia Pacific including Japan and North America. The regional splits of the entire market along with its sub-segments are based on the use of the particular product in the respective regions or countries.
Revenue Share of Various Markets in Chemical and Material Industry
An in-depth analysis of the breakdown of top vendors' businesses into various segments under which they function has also provided in the reports related to chemical and material industry. Thus, annual revenue for each and every segment is also calculated and on the basis of secondary research and various company's annual reports, evaluation and record of the entire annual revenue of the chemical and material manufacturers has been carried out effectively.
Competitive Landscape is the most valuable part of this Report
Key financial developments of a particular company and product & company overview are some of the elements that help in acquiring information about top vendors in the market. This particular section has also included a SWOT analysis of the companies featured in the report. This will help the audience in knowing about opportunities, strengths, threats and weaknesses that are facing by the key vendors in the chemical and material industry across the world.
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View for Lithium Ion Market Reports:
Lithium Ion Battery Pack Market - https://reports.valuates.com/sreport/PROF-Auto-17D413/Global_Automotive_Lithium_Ion_Battery_Pack_Market_Report_2019_Market_Size_Share_Price_Trend_and_Forecast
Li Ion Power Battery Market - https://reports.valuates.com/sreport/PROF-Auto-9Y564/Global_Li_Ion_Power_Battery_Market_Report_2019_Market_Size_Share_Price_Trend_and_Forecast
Lithium Ion Battery Separator Market - https://reports.valuates.com/sreport/PROF-Auto-24F162/Global_Lithium_Ion_Battery_Separator_Lithium_Battery_Separator_Market_Report_2019_Market_Size_Share_Price_Trend_and_Forecast
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