The global appetite for batteries is on a meteoric rise, with projections estimating a need for around 4400GWh by 2030. This surge spans various sectors, including light and heavy commercial vehicles, consumer electronics, electric two and three-wheelers, electric ships, eVTOL aircraft, and energy storage solutions.
At the heart of this demand are core materials like nickel-based, lithium iron phosphate (LFP), and lithium manganese iron phosphate (LMFP) cathodes. As these batteries reach the end of their first life cycle, the focus shifts to sustainable disposal and recycling.
Experts predict that the battery recycling market will experience rapid growth post-2025, driven by the increasing scrappage of electric vehicles (EVs), supportive policy incentives, and a robust downstream demand for recycled materials. Initially, batteries will be collected through various channels, but future collection is expected to be predominantly managed by original equipment manufacturers (OEMs).
Once collected, batteries undergo either secondary use—where battery packs or modules are repackaged for reuse—or recycling, which involves extracting valuable metals. This recycling phase is crucial for OEMs, especially in the face of rising precious metal prices and their scarcity, making the recovery of these materials both economically and environmentally significant.
As the world moves towards greener energy solutions, the interplay between battery demand and recycling will be pivotal in shaping a sustainable future.
Reference(s):
cgtn.com
