An estimated 330,000 mt of lithium-ion batteries will reach their end of life in 2020, according to IDTechEx (Bury St. Edmunds, England).
By 2025, end-of-life electric vehicle batteries will dominate the supply stream and start driving the market, it states. Its new report, “Li-ion Battery Recycling 2020-2040,” addresses factors that might affect safe and profitable recycling, including the need for an efficient collection network, better design for recycling, and other technical and economic challenges. Despite the challenges, it expects the global li-ion battery recycling market will be worth $31 billion annually by 2040.
The report reviews the main stages of li-ion battery recycling and compares different processes companies are using or have patented. Its 20-year market forecast looks at volumes and revenues, with breakdowns by region (North America, Europe, and China), sector (consumer electronics, EVs), battery chemistry, and key metals. It predicts that China will dominate this sector by 2040, recycling more than 50% of the end-of-life battery supply. The report also gives an overview of regulation and policy factors in li-ion battery recycling and profiles nearly 30 companies in this market. Visit www.IDTechex.com/LiRecycling.