The global lithium-ion battery recycling sector will be worth US$ 22.8 billion (EUR 21 billion) by 2030, up from US$ 4.6 billion last year. This represents a sizeable compound annual growth rate of 19.6% during the forecast period, according to analysts at Research&Markets.

The lithium-ion battery recycling market is will witness ‘intense growth’ across different end-use industries, especially the automotive and industrial industry. The new report says North America dominated the lithium-ion battery market in 2020 and is projected to lead in the next eight years.