Electric Vehicle Recycled Battery Materials Market Size to Reach US$ 300.8 Million in 2025, Says Stratview Research

DETROIT, Nov. 22, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on EV Recycled Battery Materials Market by Source Type (Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle, and Battery Electric Vehicle), by Battery Type (Lithium-ion Battery and Nickel Metal Hydride Battery), by Material Type (Aluminum, Copper,  Nickel, Iron, Lithium, Cobalt , and Others), by Recycling Process Type (Pyrometallurgy, Hydrometallurgy, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World): 2020-2025.

This report, from Stratview Research, studies the electric vehicle recycled battery materials market over the trend period of 2014 to 2019 and the forecast period of 2020 to 2025 in terms of both value and volume. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.

Electric Vehicle Recycled Battery Materials Market: Research Highlights

The market for EV recycled battery materials is at the nascent phase and is expected to undergo a huge development in years to come. As per Stratview Research, 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. Significant increase in the demand for electric vehicles, large volume of batteries reaching their end-of-life, decreasing life expectancy of EV batteries, and 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 EV batteries across all regions.

Apart from the above driving factors, another major force behind the excellent growth of the market is high price of some of the materials along with the meagre presence of valuable metals, such as cobalt, nickel, and lithium, used in battery manufacturing. Despite high price of nickel, its demand is still high due to the NMC 811 batteries being produced on a large scale. Though EV battery recycling requires extensive technological know-how, increasing demand coupled with the scarcity of these materials is compelling various countries to increasingly recycle EV batteries.