1:01 PM Electric Vehicle Recycled Battery Materials Market Size to Grow at an impressive CAGR by 2025 |
| Stratview Research has added a new report on Electric Vehicle Recycled Battery Materials Market that talks in depth about the estimated increase in market size, current trends, and estimates other happenings in market during the forecast period of 2020-2025.
The electric vehicle recycled battery materials market size is projected to grow at an impressive rate over the next five years to reach US$ 300.8 million by 2025, according to a newly added report by Stratview Research. A significant increase in the demand for electric vehicles, a large volume of batteries reaching their end-of-life, decreasing the life expectancy of EV batteries, and the scarcity of battery raw materials are likely to drive the EV recycled battery materials market. Along with these factors, government support and imposed regulations regarding EV adoption and battery recycling are expected to boost the recycling of batteries across all regions.
The market for EV recycled battery materials is at the nascent phase and is expected to undergo a huge development in years to come. Apart from the above-mentioned driving force, another major force behind the excellent growth of the market is the high price of some of the materials along with the meager presence of valuable metals, such as cobalt, nickel, and lithium, used in the battery manufacturing. In spite of the high price of nickel, its demand is still high due to the NMC 811 batteries being produced on a large scale. Lithium is the pith of the lithium-ion batteries. It is estimated that batteries will form 80% of the total lithium demand by the year 2030. Similarly, cobalt is another expensive material used in batteries manufacturing. More than 60% of the cobalt comes from the Democratic Republic of Congo, which itself is prone to instability. Furthermore, in 2017, the average annual price of cobalt doubled because of its limited availability and high demand. Though EV battery recycling requires extensive technological know-how, increasing demand for these materials coupled with the scarcity of materials is compelling in various countries to increasingly recycle EV batteries. The EV recycled battery materials market is consolidated with the presence of a few global and a good number of local players. Furthermore, the market recorded some M&A activities because of its emerging phase. Among the few M&A activities performed in the market, the most noticeable one is the acquisition of Guangdong Brunp Recycling Technology Co. Ltd by Contemporary Amperex Technology Co. Ltd. (CATL), one of the leading battery manufacturers for electric vehicles. The report offers detailed insights in relevant market segments, their growth rates, latest market trends, forecasts, and other important details. The market has been segmented in five ways and the report has more than 150 figures and tables providing the most comprehensive information about the market segments and their growth prospects for the forecast period of 2020-2025. Request a sample of the report here As per the report, among different battery types, Lithium-ion is likely to remain the most dominant as well as the faster-growing segment over the next five years in terms of both value as well as volume. Lithium-ion batteries are already ruling the EV market, resulting in a large volume of batteries reaching end-of-life. View the Table of Contents here Asia-Pacific is projected to remain the largest market during the forecast period driven by the huge pile of used batteries in China. Currently, China owns the largest EV fleet size as 99% of E-buses runs in China. Also, the country is the house of all the major EV battery recyclers such as GEM Co. Ltd and Guangdong Brunp Recycling Technology Co. Ltd. Europe is likely to grow at the highest growth rate over the next five years, owing to the stringent regulations imposed by the European Union. The European Regulation has made it mandatory for battery manufacturers to finance the cost of collecting, treating, and recycling of all the collected batteries. In Europe, Germany and the UK are the growth engines of the EV recycled battery materials market. Read the Full Report Description here Salient Features of the Report The report on Electric Vehicle Recycled Battery Materials Market is a well-researched work after analysing of various data from different reliable sources. The report included some of the salient features such as:
About Stratview Research: Stratview Research is a global research company offering custom research and marker research reports for interested client in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Healthcare & Life Sciences, and Oil & Gas. All the reports generated are based on proper data collected from reliable sources and are scrutinized carefully before releasing so that the interested clients and companies can make the most out of it. For inquiries, Contact: Ritesh Gandecha Stratview Research E-mail: sales@stratviewresearch.com Direct: +1-313-307-4176 |
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