Story perspectives

Europe's LFP Battery Recycling Market to Soar 91.56% by 2035

11/13/2025

Summary

Story summary

The Europe lithium iron phosphate (LFP) battery recycling market is projected to reach $1.86 billion by 2035, up from $1.8 million in 2024, with a 91.56% CAGR.
The growth is driven by expanding electric-vehicle (EV) adoption, renewable energy storage, and EU recycling rules.
Key players include Umicore, a materials company, and Fortum Oyj, a Finnish energy firm.
Advances in recycling technologies and partnerships raise recovery despite disassembly and LFP returns challenges.

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Story summary

The Europe lithium iron phosphate (LFP) battery recycling market is projected to reach $1.86 billion by 2035, up from $1.8 million in 2024, with a 91.56% CAGR.
The growth is driven by expanding electric-vehicle (EV) adoption, renewable energy storage, and EU recycling rules.
Key players include Umicore, a materials company, and Fortum Oyj, a Finnish energy firm.
Advances in recycling technologies and partnerships raise recovery despite disassembly and LFP returns challenges.