Q. What will be the growth of the lithium-ion battery recycling market in the foreseeable future?
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What will be the growth of the lithium-ion battery recycling market in the foreseeable future?

The lithium-ion battery recycling market size was estimated at USD 4.14 billion in 2021 and is likely to grow at a CAGR of 19.56% during 2022-2028 to reach USD 14.49 billion in 2028.

What is the lithium-ion battery?
The lithium-ion battery is a type of battery that can be recharged and is generally used in the manufacturing of portable electronics and electric vehicles. These batteries find major applications in industries such as the military and aerospace.

COVID-19 Impact
The Covid-19 pandemic largely impacted the lithium-ion battery recycling market. This impact mainly comes from a reduced customer base for recycled batteries in the year 2020. However, the market is likely to rebound owing to the factors like growing concerns about battery waste disposal and increasing battery usage in the industrial sector.


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Mar, 2023

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  • newman17

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  • andrewhowards

    This is a really difficult question. On the one hand, battery consumption is growing from year to year and is not going to stop, because more and more devices are powered by this type of battery. Accordingly, the market for recycling this type of battery will also grow rapidly in the coming years. On the other hand, with lithium battery charger, the life cycle of lithium-ion batteries has increased to 2000, which greatly helps to reduce the amount of batteries thrown away, and accordingly affects the recycling market, because people will not throw away these batteries, and use them for decades.


       

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