Lithium-ion Battery Recycling Market size was around USD 5.12 billion by revenue, at the end of 2022. It is anticipated to grow at a CAGR of 26.8% to reach USD 8.02 billion by 2028.

Lithium-ion Battery Recycling those contained in electronic devices, should therefore be recycled at certified battery electronics recyclers that accept batteries rather than being discarded in the trash or put in municipal recycling bins; these are the main factors that have considerably increased the demand for the Lithium-ion Battery Recycling in the market, thereby driving the huge growth of the Lithium-ion Battery Recycling market in the upcoming years

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Market Drivers and Restrains:

The main factors that have considerably increased the demand for the Lithium-ion Battery Recycling in the market is mainly due to the is referred to collection of lithium-ion batteries through various sources including automotive, industrial, consumer & electronics appliances and recovery of metals of element through recycling processes. The global market estimation includes revenue reported by selling these recovered metals or elements whether that goes into further battery recycling or other second usage applications. Reportedly, most metals recovered go into battery manufacturing only.

Factors such as government regulations, environmental safety, and awareness among people are expected to drive growth of the global lithium-ion battery recycling market. However, improper separation of harmful materials used in battery, improper dismantling, and improper shredding are expected to hamper the market of lithium-ion battery recycling growth during the forecast period.

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Report is segmented as:

Lithium-ion Battery Recycling Market is segmented on the basis of by:

By Chemistry (Lithium-nickel Manganese Cobalt, Lithium-iron Phosphate, Lithium-Manganese Oxide, Lithium-Titanium Oxide, Lithium-nickel Cobalt Aluminum Oxide And Lithium-cobalt Oxide,
By Industry (Automotive, Marine, Industrial, Power and Others)
Geographical Segmentation:

North America
Europe
Asia Pacific
Latin America
Middle east and Africa
Impact of COVID-19 on Market

The COVID-19 pandemic continues to radically trade that amplify of variety of industries; however, the immediate have an effect on of the outbreak is varied. While some industries will register a visit demand, several others will proceed to remain unscathed and showcase promising increase opportunities. COVID-19 will have an occasional have an effect on the Lithium-ion Battery Recycling market. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Lithium-ion Battery Recycling market growth

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