At a CAGR of 22.1% - Lithium Battery Recycling Market is Projected to Reach USD 23.72 Billion by 2030

The lithium-ionbattery recycling market is estimated at USD 1.78 billion in 2017 and is projected to reach USD 23.72 billion by 2030, at a CAGR of 22.1% from 2017 to 2030. Rising concerns about depleting earth metals and government initiatives to recycle batteries are drivers for the battery recycling market globally. Subsidies to encourage battery recycling and the growth in the number of hybrid and Electric Vehicle (EV) batteries are expected to provide growth opportunities for the battery recycling market. Issues related to spent battery storage and transportation are expected to restrain growth of the battery recycling market. Some of the leading players operating in the Lithium-Ion Battery Recycling Market include Umicore (Belgium), Glencore (Switzerland), Retriev Technologies (US), Raw Materials Company (Canada), American Zinc Recycling (INMETCO) (US), and Battery Recycling Made Easy (US), among others.

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Key market players have focused on the adoption of strategies such as new supply contracts, acquisitions, and expansions to cater the demand for lithium-ion battery recycling across various industries such as, marine, automotive, power, and industrial applications.

In April 2016, Umicore planned the capacity expansion of Nickel-manganese Cobalt (NMC) cathode materials to meet the increasing demand. The expansion program entailed an investment of approximately USD 177 million over a period of three years at the company’s existing facilities in Cheonan (South Korea) and Jiangmen (China), as well as greenfield investment on adjacent land in both locations. With this expansion, the company further strengthened its position in the European and North American markets.

In January 2017, Umicore acquired three NMC patent families for cathode materials used in a wide range of lithium-ion rechargeable batteries from 3M. Through this deal, Umicore acquired all existing and future licensing rights to the three patents that it had previously been using under license from 3M. These patents collectively cover South Korea, China, Japan, Europe, and the US and are valid between 2021 and 2024. With this acquisition, the company further strengthened its presence in the Asia Pacific region.

In 2015, KBT (Kinsbursky Group Company) established a battery technology center in Brea, California to support OEM hybrid vehicle producers such as Toyota remanufacture hybrid batteries, and to provide logistics support related to battery transportation and direct from dealer battery recoveries. The center also provides contract field services for the recovery of damaged or nonresponsive large format electric vehicle batteries in the US, Puerto Rico, Canada, and Mexico. This expansion is in line with the strategy of the company to develop a North American distribution network for spent lithium-ion batteries.

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EOR Chemicals are Essential Components for Enhancing the Efficiency in Production of Crude Oil

EOR chemicals are vital products for obtaining a high level of effectiveness in oil extraction. The primary use of EOR chemicals is in extraction of oil from very deep oil wells, and in wells in which extraction operations have been already done. As the current oil reserves are depleting at a fast rate, the importance of EOR chemicals has increased immensely.

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Fast depleting oil reserves are making consumers shift their focus on extraction operations on existing mature wells, reserves in difficult terrains, and deep drilling activities on and offshore. This trend is leading to growing demand for EOR chemicals. Growing drilling and enhanced oil recovery operations in countries such as China, Brazil, India, and Malaysia are contributing toward the growth of EOR chemicals market.

EOR chemicals are increasingly being used in the onshore as well as offshore extractions. The offshore application is projected to grow at the higher CAGR between 2014 and 2019. The existing mature oil reserves within North America are making this application attractive for the market players.

Biomedical Textiles Market : Key Strategies Adopted by the Leading Players

Agreements/contracts, expansions, acquisitions, and new product developments are key strategies adopted by the leading players in the biomedical textiles market.

Biomedical textiles are a class of technical textiles that have fibrous structures and are designed for use in specific biological environments. The fibers used in biomedical textiles should possess antimicrobial, fire-resistant, non-allergic, and non-carcinogenic properties. Biomedical textiles are produced using technologies such as weaving, non-weaving, and knitting. The biomedical textiles market is projected to reach USD 14.50 billion by 2022, at a CAGR of 5.7% from 2017 to 2022.

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Key players operating in the biomedical textiles market are focused on the adoption of inorganic and organic growth strategies to strengthen their market positions. These companies have adopted agreements/contracts, expansions, acquisitions, and new product developments as key growth strategies between January 2015 and December 2017 to strengthen their foothold in the biomedical textiles market.

Royal DSM (Netherlands), one of the leading manufacturers of biomedical textiles, has adopted key growth strategies such as partnership and new product development to enhance its presence in the biomedical textiles market. In March 2017, the company launched a new Dyneema Purity Black fiber for orthopedic, cardio, and spine applications. In September 2017, DSM Biomedical, a division of Royal DSM, partnered with the Musculoskeletal Transplant Foundation (MTF) to distribute biologic products for use in plastic and reconstructive surgeries. The partnership will address the changing needs of hospitals and healthcare providers by offering a full suite of biologic products such as biomedical textiles. This will help enhance the market for biomedical textiles.

Major players operating in the Biomedical Textiles Market include Royal DSM (Netherlands), Johnson & Johnson (US), Medtronic (US), Cardinal Health (US), Integra Lifesciences Corporation (US), Smith & Nephew (UK), Medline (US), Paul Hartmann AG (Germany), and BSN Medical (Germany). These companies have a strong presence in the biomedical textiles market and are continuously making efforts to improve their business strategies and product portfolios.

In May 2017, Smith & Nephew opened a new state-of-the-art Research & Development (R&D) center at its Hessle Road site in Hull. This R&D center is expected to help enhance the technologies and products for biomedical textiles. The new R&D focuses on the production all medical products including biomedical textiles. The expansion strategy helped the company cater to the rising demand for biomedical textiles in the North American region.

Medline Industries, a key manufacturer and provider of biomedical textiles, has adopted the strategy of agreements/contracts to enhance its position in the biomedical textiles market. For instance, in 2016, Medline Industries and Premier Inc., a leading healthcare improvement company, signed a purchasing agreement for medical-surgical products, such as IV therapy, janitorial, and surgical sutures. Premier unites an alliance of 3,750 US hospitals and more than 130,000 other organizations. This purchasing agreement will help Medline Industries enhance the sales of its biomedical textile products.

Chitosan Market Industry Leaders

The chitosan market is projected to reach USD 1,088.0 million by 2022, at a CAGR of 14.5% between 2017 and 2022. Chitosan is a natural fiber, which is derived from chitin. It is found in the outer shells of different types of shellfish such as shrimp, crabs, and lobsters. It is used for the treatment of water as it absorbs toxic substances, greases, oil, and metals from water. Chitosan is also used in various applications such as food & beverages, cosmetics, agrochemicals, and medical & pharmaceuticals.

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Some of the leading players operating in the chitosan market include Primex ehf (Iceland), Heppe Medical Chitosan GmbH (Germany), Vietnam Food (Vietnam), KitoZyme S.A. (Belgium), Agratech (US), Advanced Biopolymers AS (Norway), BIO21 Co., Ltd. (Thailand), G.T.C. Bio Corporation (China), Taizhou City Fengrun Biochemical Co., Ltd. (China), and Zhejiang Golden-Shell Pharmaceutical Co., Ltd. (China).

Primex ehf (Iceland) is one of the leading manufacturers of chitosan across the globe. The company provides chitosan for various applications such as water treatment, food & beverages, medical & pharmaceuticals, and cosmetics. The company is located in Iceland, that is, in the middle of the North Atlantic Ocean that gives it a competitive advantage over other players operating in the chitosan market. The company produces high-quality chitosan from the shells of shrimp found in the North Atlantic Coldwater.

Heppe Medical Chitosan GmbH (Germany) is another leading manufacturer of chitosan across the globe. The company offers high purity chitosan. It also offers chitin and derivatives of both, chitin and chitosan. The company serves cosmetics and medical & pharmaceuticals sectors. Apart from manufacturing chitosan, the company also provides assistance to its customers for using chitosan or chitin in various technological processes.

Vietnam Food (Vietnam) is the largest manufacturer of proteins extracted from the aquatic products in Vietnam. The company offers products for the bio-pharmaceutical industries. The company offers chitin and chitosan through its bio-pharmaceutical division.

The Asia Pacific Chitosan Market is expected to witness high growth during the forecast period due to the increasing demand for chitosan from emerging economies such as China and India. Several international and domestic players operating in the chitosan market are investing in the Asia Pacific region, thereby leading to the growth of the chitosan market in the region.