• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours U.S. Presidential Elections Status - Electoral Votes
  • 2 days Evergrande is going Belly Up.
  • 1 min Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 10 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 1 day Poland Expands LNG Powered Trucking and Fueling Stations
  • 2 days World’s Biggest Battery In California Overheats, Shuts Down
  • 17 hours The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 5 hours Ten Years of Plunging Solar Prices
  • 8 hours Extraction of gasoline from crude oil.
  • 3 days The coming Cyber Attack
  • 3 days Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 3 days Ozone layer destruction driving global warming
  • 3 days 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers

The Surprising $6 Billion Market Born From The EV Boom

Electric vehicles (EVs) are catching on faster than even their most ardent supporters ever expected, which inevitably means the pile of spent lithium-ion batteries that once powered those cars is also rising fast.

China alone is forecast to generate around 500,000 tonnes of battery waste by 2020, a number that would hit 1.2 million tonnes per year by 2030, when considering global consumption, London-based Circular Energy Storage (CES) said Thursday.

Some companies, such as tech giant Apple, are grabbing the bull by the horns by trying to re-use as many minerals contained in discarded batteries as possible.

CES sees a profitable business on battery recycling. According to the consultancy, recycled material and second life batteries can generate a market worth more than $6 billion, based on current metal prices.

The experts believe the amount of lithium and cobalt from recycled materials will be equivalent to about a half and a quarter respectively of today’s markets for the mined commodities.

By 2030, they say, batteries with a capacity of close to 1,000 GWh will have become available for a second life, adding significant capacity to markets for backup power, stationary energy storage and EV charging.

“While the industry tend to focus on the electric cars we expect more batteries from heavy use applications such as electric buses, trucks, fork lifts, e-bikes and scooters,” says Hans Eric Melin, managing director at Circular Energy Storage and the author of the study. “However, the geographical differences are huge, both regarding volume and the characteristics of the waste stream.”

Related: IEA: An Oil Glut Is Looming

In North America and Europe, recycling is seen as a waste disposal activity that companies should be paid to carry out. In China, the largest producer and consumer of lithium-ion batteries, competition has become so intense that recyclers are willing to pay to get their hands on dead batteries.

Recycled Batteries

(Click to enlarge)

This appetite means China’s grip on lithium-ion (Li-ion) battery recycling is set to grow. American and European recycling companies have good processes, but might struggle to find the volumes of used batteries needed for profitable operations.

One of the reasons, says Linda L. Gaines of Argonne National Laboratory, is that the Western world lacks a clear path to large-scale economical recycling, battery researchers say. As a consequence, manufacturers have traditionally focused on lowering costs and increasing battery longevity and charge, instead of trying to improve batteries’ recyclability. And because researchers have made only modest progress in that field, relatively few Li-ion batteries end up being recycled.

(Click to enlarge)

CES estimates that as much as 125,000 tonnes of lithium carbonate equivalent (LCE), 35,000 tonnes of cobalt and 86,000 tonnes of nickel could be recovered by 2030 from waste batteries. To this, between 400,000 and 1 million tonnes of production scrap might be added, depending on efficiency and production volume, it says.

“Together, processed volumes of waste lithium-ion batteries and scrap materials will make up a market worth more than $6 billion,” the consultancy predicts.

An even larger market is the one for remanufactured and second-life batteries. CES anticipates that 75% of light, heavy and utility vehicle batteries will either be remanufactured for use in its original applications, or repurposed to be used in other stationary energy storage systems.

By Mining.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • michael smith on November 01 2019 said:
    I bet all the greenies never thought about battery waste and its harm to the enviroment, look there is not a technology that by itself can save the world from so called warming now its being said they we are going into a cooling cycle, truth is ice cars can be made even further efficient and thats what we should be doing for the foreseeable future!

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News