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Global Electric Vehicles Battery Recycling Market Report 2024: Growth Forecasted at 25.8% CAGR Through 2031

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DUBLIN, March 7, 2024 /PRNewswire/ — The “Global Electric Vehicles Battery Recycling Market by Source (Passenger Vehicles, Commercial Vehicles, E-Bikes), Chemistry (Li-NMC, LFP, LMO, LTO, NCA), Process, and Region (North America, Europe, Asia Pacific) – Forecast to 2031″ report has been added to ResearchAndMarkets.com’s offering.

The EV Battery Recycling Market is projected to grow from USD 9 billion in 2023 to USD 56.3 billion by 2031, at a CAGR of 25.8 % during the forecast period. The growing demand for batteries in energy storage devices, coupled with increased research and development in EV Battery, is one of the key driver that is boosting the EV Battery Recycling Market.

Lithium Iron Phosphate by battery chemistry, is estimated to account for the second largest share during the forecast period

The Lithium Iron Phosphate battery chemistry segment is projected to secure the second-largest share in the forecast period, primarily fueled by its extensive application in the automotive. As they are among the safest batteries, with a low risk of overheating and fire. These batteries are environmentally sustainable, being non-toxic and recyclable, devoid of harmful materials like lead or cadmium. This broader utilization is expected to contribute to the sustained growth of the Lithium Iron Phosphate battery chemistry segment in the EV Battery Recycling Market.

By source, commercial segment is accounted for the second largest share during the forecast period

Lithium-ion batteries are well-known for powering commercial vehicles. The combination of increasing demand for commercial electric vehicles, regulatory support, and the need for recycling valuable materials contributes to the projection that the commercial segment will be the important and ongrowing source in the EV battery recycling market during the specified period. Therefore, the use of lithium-ion battery in commercial vehicles will increase and it is expected to drive the EV Battery Recycling Market.

Europe region is estimated to account for the second largest share during 2023-2031

Europe is expected to be the second-largest market for EV battery recycling market. Germany is among the key player in the region, which is driven by automobile sector, with a rise in the demand for electric vehicles. As a major contributor to the automotive industry, Germany emerges as a favorable market for various batteries, particularly those using lithium-ion recycling technology. Additionally, the ongoing transition to renewable energy sources in the country is expected to boost the market further, contributing to the overall growth of the European EV Battery Recycling Market.

The report provides insights on the following:

Analysis of key drivers (increasing adoption of lithium-ion batteries in automobiles, growing adoption of EVs and plug-in vehicles, limited minerals), restraints (Safety issues related batteries, low availability of lithium and cobalt), opportunities (subsidies by government, growing R&D for battery chemistry), and challenges (high cost of recycling ecosystem) influencing the growth of the EV Battery Recycling Market.Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the EV Battery Recycling Market.Market Development: Comprehensive information about lucrative markets – the report analyses the EV Battery Recycling Market across varied regions.Market Diversification: Exhaustive information about new products, various types, untapped geographies, recent developments, and investments in the EV Battery Recycling Market.Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players such as Contemporary Amperex Technology Co., Limited. (China), Glencore (Switzerland), GEM Co., Ltd. (China), ERAMET (France), Li-Cycle Corp (Canada), Umicore (Belgium), Accurec-Recycling GMBH (Germany), Fortum (Finland), Cirba solutions (US), Neometals Ltd.(Australia), Redwood Materials Inc. (US), Ecobat (US), Stena Recycling (Sweden), TES (Singapore), Ace Green Recycling, Inc. (USA),, Shenzhen Highpower Technology Co., Ltd (China) and others in the EV Battery Recycling Market.

Key Topics Covered:

Executive Summary

Electric Vehicle Battery Recycling Market Snapshot: 2022 vs. 2031Asia-Pacific to Account for Largest Market Share During Forecast PeriodPassenger Segment to Account for Largest Market Share During Forecast PeriodNorth America to Hold Largest Market Share During Forecast Period

Premium Insights

Attractive Opportunities in Electric Vehicle Battery Recycling Market – Growing Adoption of Lithium-Ion Batteries in Electric Vehicles to Drive MarketElectric Vehicle Battery Recycling Market, by Region – Europe to Register Highest CAGR During Forecast PeriodElectric Vehicle Battery Recycling Market, by Battery Chemistry – LFP Segment to Register Highest CAGR During Forecast Period

Market Dynamics

Drivers

High Demand for Electric VehiclesStringent Government Regulations Related to Lithium-Ion Battery RecyclingIncrease in Demand for Recycled Products and MaterialsScarcity Related to Availability of Earth Metals

Restraints

Safety Issues Related to Storage and Transportation of Spent Batteries

Opportunities

Rising Adoption of Lithium-Ion Batteries due to Decline in Prices

Challenges

High Recycling Costs and Dearth of Technologies

Technology Analysis

PyrometallurgyHydrometallurgyPyrolysisMechanical Thermodynamic Recycling

Case Study Analysis

Attero Recycling

Company Profiles

UmicoreNeometals Ltd.Li-Cycle Corp.Recyclico Battery Materials Inc.Accurec-Recycling GmbHFortumCirba SolutionsContemporary Amperex Technology Co. LimitedEcobatTesStena RecyclingShenzhen Highpower Technology Co. Ltd.Redwood Materials Inc.Gem Co. Ltd.Ascend Elements, Inc.Batx EnergiesGlencoreAustralian Battery Recycling InitiativeAce Green RecyclingPrimobius GmbHAttero Recycling Pvt. LtdTrishulavel Eshan Pvt. Ltd. (Li-Circle)ErametEnvirostream Australia Pty Ltd.Duesenfeld GmbHLithion TechnologiesBatrec IndustrieSitrasaTata Chemicals Limited.Exigo Recycling Pvt. Ltd.ZiptraxJx Nippon

For more information about this report visit https://www.researchandmarkets.com/r/wcuwu5

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SOURCE Research and Markets

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Prime Minister to travel to New York City to attend the United Nations General Assembly and the Summit of the Future

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OTTAWA, ON, Sept. 16, 2024 /CNW/ – The Prime Minister, Justin Trudeau, today announced that he will travel to New York City, United States of America, from September 22 to 25, 2024, to participate in the 79th Session of the United Nations General Assembly and the Summit of the Future. The Prime Minister will work closely with Canada’s international partners to strengthen democracy, take climate action, defend global security, and improve access to health care, including reproductive health.

As Co-Chair of the United Nations Sustainable Development Goals Advocates group, the Prime Minister will reaffirm Canada’s commitment to advancing ambitious international action toward the 2030 Agenda for Sustainable Development. This includes moving forward on shared work on education, climate change and biodiversity loss, and gender equality around the world.

At the Summit of the Future, the Prime Minister will join other leaders to take action on key global challenges and enhance ways to work together to secure a better future for everyone. The leaders will work to accelerate efforts on pressing global challenges, including sustainable development, international peace and security, technological innovation and digital co-operation, decarbonization and clean energy, and human rights.

Prime Minister Trudeau will co-host a discussion with the Prime Minister of Haiti, Garry Conille, to help mobilize the resources needed to address the crises the country is facing and support solutions that are Haitian-led and focused on the needs of the Haitian people. He will also co-host a high-level event with the President of the European Commission, Ursula von der Leyen, to promote action on climate change, carbon pricing, and industrial decarbonization.

Throughout his visit, the Prime Minister will collaborate with other leaders on pressing geopolitical challenges, including Russia’s ongoing war of aggression against Ukraine as well as the evolving situation in the Middle East. He will emphasize the importance of international efforts to safeguard peace and security around the world, including by defending democracy and strengthening the rules-based international order.

Achieving a more peaceful, stable, and prosperous world starts with unified global action. Canada’s unwavering commitment to the United Nations is a pledge to Canadians that we will do our part to build a better future for everyone.

Quote
“At this year’s United Nations General Assembly and at the Summit of the Future, Canada will have a leading role in making the world fairer and more prosperous. I look forward to working with other leaders to accelerate progress on our shared priorities and build a better future for everyone.”
— The Rt. Hon. Justin Trudeau, Prime Minister of Canada

Quick Facts

Canada has been active at the United Nations (UN) since its creation in 1945 and has played a key role in drafting the UN Charter, the treaty that is the cornerstone of the rules-based international order.Canada is the sixth-largest donor to the UN, including voluntary and assessed contributions totalling over US$2 billion in 2022.In 2015, Canada joined all UN Member States in adopting ambitious goals for sustainable development, as outlined in Transforming our World: The 2030 Agenda for Sustainable Development. The 2030 Agenda centres on a set of 17 Sustainable Development Goals (SDGs), encompassing the social, economic, and environmental dimensions of sustainable development. Taken together, the SDGs aim to improve the lives of all people, while protecting the planet.Released in 2021, Moving Forward Together: Canada’s 2030 Agenda National Strategy builds upon 30 actions and five core principles to create and foster an enabling environment for ongoing dialogue and participation to encourage Canadians to take action to realize the SDGs.In 2022, Prime Minister Trudeau was named Co-Chair, with the Prime Minister of Barbados, Mia Mottley, of the UN SDG Advocates group by UN Secretary-General António Guterres. SDG Advocates work to raise global awareness of the SDGs and of the need for accelerated action by using their respective platforms.In 2021, Canada launched the Global Carbon Pricing Challenge. This partnership aims to expand the use of pollution pricing by strengthening existing systems and supporting emerging ones. The Challenge also serves as a forum for dialogue and co-ordination to make pricing systems more effective and compatible while supporting other countries in adopting carbon pricing and cutting emissions on the path to net-zero by 2050.

Associated Links

Canada and the United NationsSummit of the FutureTransforming our World: The 2030 Agenda for Sustainable DevelopmentThe 2030 Agenda for Sustainable Development

This document is also available at https://pm.gc.ca

SOURCE Prime Minister’s Office

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NORTH STAR PROMISE DRIVES RECORD ENROLLMENT AT MINNESOTA’S PUBLIC COLLEGES AND UNIVERSITIES

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State Colleges and Universities See 7% Enrollment Surge; University of Minnesota Freshman Class Up 8%

SAINT PAUL, Minn., Sept. 16, 2024 /PRNewswire/ — North Star Prosperity released the following statement after public higher education institutions across the state reported a surge in enrollment thanks to the North Star Promise, a groundbreaking program designed to increase college access and affordability by providing tuition-free opportunities at public and tribal colleges for Minnesota residents making less than $80,000. It is the first time in over a decade that enrollment at Minnesota’s public colleges has increased.

North Star Prosperity led the campaign for North Star Promise, which Governor Tim Walz signed into law in May 2023.

“The North Star Promise program is a game-changer,” stated Mike Dean, Executive Director of North Star Prosperity. “We know that higher education is the most reliable path toward the middle class and yet for more than two decades, the cost of college has been out of reach for too many students. When we make education affordable and accessible, it’s an investment in the future of Minnesota’s workforce. Giving Minnesotans the tools to succeed in today’s economy is not only the right thing to do; it’s good business.”

For more information about the North Star Promise and how it benefits Minnesota residents, please visit www.northstarprosperity.org/freecollege or contact Mike Dean.

North Star Prosperity is fighting for an economy that works for all Minnesotans. Driven by our belief that everyone deserves a fair shot, we challenge the systemic roots of poverty and inequality by advocating for progressive economic policies that dismantle structural barriers and expand opportunity for all.

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SOURCE North Star Prosperity

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Mynaric Advances Production of CONDOR Mk3

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Shipments will support the Space Development Agency’s Tranche 1 program

MUNICH, Sept. 16, 2024 /PRNewswire/ —  Mynaric (NASDAQ: MYNA) (FRA: M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announced the successful advancement of the company’s volume production ramp for the CONDOR Mk3. Mynaric continues to work through previously announced production delays and has realized near-term improvement in production yields and supply chain-related bottlenecks. Production delays of CONDOR Mk3 were caused by lower than expected production yields and supplier shortages of key components.

“We remain committed to our mission to deliver laser communications products at scale to the market and meet our near-term customer requirements,” said Joachim Horwath, Chief Technology Officer and founder of Mynaric. “Despite the setbacks we faced over the past few months, our team has worked tirelessly to address these challenges. We have implemented solutions to ensure the smooth continuation of our production process.”

“We are happy to report that the technical challenges on the production ramp are being addressed and I am working with Joachim to ensure that Mynaric is well positioned for future success,” said Andreas Reif, Chief Restructuring Officer of Mynaric. “Moving forward, Mynaric will continue to meet the current requirements of our customers.”

Current shipments of the CONDOR Mk3 free space optical communications system will be part of the United States Space Development Agency (SDA) Tranche 1 program. Mynaric was selected by Northrop Grumman as the sole supplier of optical communications terminals for the SDA’s Tranche 1 Transport and Tracking Layer programs and by York Space Systems for the SDA’s Tranche 1 Transport Layer. Mynaric was also selected by Loft Federal to supply the CONDOR Mk3 terminals to NExT – the SDA’s Experimental Testbed.

In addition, Mynaric continues to pursue opportunities that explore the use of free-space optical communications for additional space programs. Mynaric has been recognized as a key development partner in Phase 2 of DARPA’s Space-BACN program, was selected by the European Space Agency (ESA) to investigate optical technologies for next generation high-throughput optical inter-satellite links and was selected by the German government for multiple projects to develop quantum communication capabilities.

In addition, Mynaric continues to diligently pursue additional capital sources to secure our on-going operations and production ramp. We continue to evaluate a number of different strategic options to address our near-term capital needs.

About Mynaric

Mynaric (NASDAQ: MYNA) (FRA: M0YN) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional locations in Los Angeles, California, and Washington, D.C.

For more information, visit mynaric.com

MEDIA CONTACT
Krista Hazen                                                                                   
krista.hazen@mynaricusa.com   

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SOURCE Mynaric USA, Inc.

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