As the acceptance of e-vehicles starts to grow tremendously, so does the quantity of spent lithium-ion batteries that once use to power those vehicles. Market researchers estimated that by 2020, alone China will produce around 500,000 metric tons of utilized Li-ion batteries and that by 2030, the global number will reach 2 million metric tons per annum.

If present trends for maintaining these consumed batteries hold, most of those batteries might end up in landfills, however, Li-ion batteries can be recycled. Such common power packs comprise valued metals and other supplies that can be reused, recovered, and recovered.

But still, every small amount of these batteries actually gets recycled these days. 

Browse detailed report - Li-Ion Battery Recycling Market Analysis and Demand Forecast Report

In Australia, for instance, only 2–3% of Li-ion batteries are collected and guided offshore for recycling, as per Naomi J. Boxall, an ecological scientist at Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO). The reprocessing rates in the European Union and the US—below 5%—aren’t much higher.

The global Lithium-Ion Battery Recycling Market generated a value of USD 4,781 million in 2022, and it will grow at a 20.45% CAGR, to touch USD 21,184 million, by 2030.