Driven by a 40.9% CAGR, the EV battery recycling market is set to reach $23.72 billion by 2035 as manufacturers prioritize sustainable supply chains and comply with aggressive new recycling mandates.
The article highlights the growing EV battery recycling market, which increases the supply of recycled lithium and may influence lithium price dynamics.
Recycling market growth for cobalt could reduce reliance on mined cobalt, affecting supply and pricing over the long term.
Increased recycling of nickel from EV batteries may influence nickel market supply and pricing dynamics.
The global EV battery recycling market is poised for rapid expansion, with projections indicating growth from $0.54 billion in 2024 to $23.72 billion by 2035. Driven by a 40.9% CAGR, the sector is scaling to address resource scarcity for critical minerals like lithium, cobalt, and nickel while meeting stringent new government mandates for circular economies.
Growth is fueled by the need to reduce environmental impact, address resource scarcity for critical minerals, and comply with tightening government regulations regarding battery waste.