2030 lithium-ion battery recycling market is expected to reach 6 billion US dollars

2022/04/02

  Author :Iflowpower – Portable Power Station Supplier

Headquartered in London's Circular Energy Storage (CES), it is said that it is expected that the global electric vehicle consumption is expected to waste about 500,000 tons of lithium-ion batteries in 2020. By 2030, this number will reach 1.2 million tons per year.

CES has seen a profitable business in terms of battery recycling. According to the data of the consulting company, according to the current metal price, recycled materials and reuse battery cells can be born more than $ 6 billion in markets. Experts believe that the content of lithium and cobalt in the recovery material will be equivalent to half of the current mining items and one quarter.

By 2030, the battery approaches 1000GWH will be sustainable, add a large amount of capacity for the backup power supply, fixed energy storage system and electric vehicle charging market. Battery researchers said that the Western world lacks a clear road that leads to large-scale economic cycles. Therefore, manufacturers have traditionally focused on reducing cost, extending battery life and charging time, rather than trying to improve battery recovery.

Since the researchers have made progress in this category, only relatively small lithium-ion batteries are finally recovered. CES estimates that by 2030, up to 125,000 tons of lithium carbon (LCE), 35,000 tons of cobalt and 86,000 tons of nickel can be recovered from waste cells. In addition, according to efficiency and yield, it may increase by 400,000 to 1 million tons of processing waste.

CES is expected that 75% of light, heavy, and multi-purpose vehicle batteries will be manufactured, used for their original use, or to other fixed energy storage systems. Original title: Study showing that lithium-ion battery reused markets were expected to reach $ 6 billion in 2030.

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