The lithium-ion battery recycling market is expected to reach US$6 billion in 2030

London-based Recycling Energy Storage (CES) said on Thursday that, taking into account the global consumption of electric vehicles, it is estimated that by 2020, my country alone will produce about 500,000 tons of lithium-ion battery waste. By 2030, this number will reach 1.2 million tons per year. CES saw a profitable business in battery recycling. According to the consulting company's data, based on current metal prices, recycled materials and reused battery cells can create a market worth more than $6 billion. Experts believe that the content of lithium and cobalt in recycled materials will be equivalent to half and one-fourth of the currently mined commodities. By 2030, batteries with a capacity close to 1,000 GWh will continue to be used, adding a large amount of capacity to the backup power supply, stationary energy storage system and electric vehicle charging markets. Battery researchers say that the Western world lacks a clear path to large-scale economic recycling. Therefore, manufacturers have traditionally focused on reducing costs and extending battery life and charging time, rather than trying to improve battery recyclability. Because researchers have made little progress in this area, only relatively few lithium-ion batteries are eventually recycled. CES estimates that by 2030, up to 125,000 tons of lithium carbonate equivalent (LCE), 35,000 tons of cobalt and 86,000 tons of nickel can be recovered from waste batteries. In addition, depending on efficiency and output, 400,000 to 1 million tons of processing waste may be added. CES predicts that 75% of light-duty, heavy-duty and multi-purpose vehicle batteries will be remanufactured for their original use or used in other stationary energy storage systems. Original title: Research shows that the lithium-ion battery reuse market is expected to reach US$6 billion by 2030