Global Lithium Ion Battery Recycling Market is Estimated to Grow
Global Report, published by Accurize Market Research, forecast that the global market is expected to grow at a CAGR of 22.1% from 2019 to 2026. China is the major player in the lithium ion battery market; while North America, Europe also accounts for the major share in the global lithium ion battery market.
Market Introduction and Market Dynamics
Recycling and reusing of batteries is called battery recycling. Due to its high energy density and low discharging capability, the battery of lithium-ion is on high demand The lithium ion battery mainly used in various industries like marine, automotive and industrial power, and others. A sudden increase in the demand for the electric automobile sector for the lithium battery is a major dominating factor in the global market. The raw material we used for an electric vehicle is the lithium ion battery thereby the growth in the electric vehicle automatically boosts the market. Further, the research and development in the lithium ion battery recycling process boost the market in the estimated period. However, some of the disadvantages like overheating lithium batteries pose a threat to industrial security along with the inadequate charging infrastructure and various options to lithium batteries in the market may hamper the market. In order to protect the environment & high compliance to the government regulations are seen in the growing adoption of the recycling program of such batteries.
Market Segmentation and Crisp Analysis
The global lithium ion recycling market is segmented into industry, technology, chemistry & geography. By technology, the market is divided into physical/mechanical processes, pyrometallurgical processes, hydrometallurgical processes, and others. By industry, the market is divided into marine, automotive & industrial power and others. By chemistry, the market is divided into lithium iron, lithium manganese, lithium –cobalt & others.
Regional Segmentation and Crisp Analysis"
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