BOSTON, Nov. 18, 2021 /PRNewswire/ — By the end of 2020, 17.6 GWh of Li-ion batteries had reached their end of life; by 2035, this figure will balloon to more than 140 GWh. However, existing battery recycling infrastructure isn’t optimized to either handle end-of-life battery capacity or meet critical materials demands as electrification ramps up. Historically, most battery recycling efforts offered low recovery rates for cathode active materials while consuming unsustainable amounts of energy and chemicals to do so, but new approaches have opened the door for large-scale battery recycling, according to new data from Lux Research, a leading provider of tech-enabled research and innovation advisory services.
Lux’s new report, “Clear-Cut Opportunities in Battery Recycling,” evaluates battery recycling opportunities for chemical and materials companies, cathode manufacturers, and automotive OEMs and examines emerging startups and where they fit along the traditional battery value chain. To identify opportunities in the Li-ion battery recycling industry, Lux addresses key questions:
- What technologies are needed to build effective battery recycling streams?
Although battery recycling is not a new technology, the innovation space for Li-ion battery recycling is active. Developers are concentrating on increasing the recovery rates of battery materials and especially higher-purity materials to maximize the value of recycled products.
- How are companies utilizing and scaling new recycling technologies?
Each new recycling technology will require its own path to market. Companies developing recycling processes must consider which chemistries can be recycled and what the resulting product will be.
- What business strategies should companies consider for entry into commercial battery recycling?
Companies eager to join the battery recycling industry have multiple possibilities for entry. Partnerships are crucial for all players along the battery value chain, and that’s true too for entrants in battery recycling.
“The driving factors for recycling development are numerous,” explains Abhirabh Basu, Analyst at Lux Research and lead author of the report. “Policy is emerging as an important safeguard against environmental hazards associated with battery disposal, economic development of recycling will benefit almost all players along the battery value chain, and technology for Li-ion battery recycling has improved to the point that recyclers claim recovery rates upward of 98%.”
Despite a flurry of activity in the past few years, battery recycling remains limited by both technological and economic factors. The industry has historically been buoyed by high-cobalt-content consumer electronics batteries, but as electric vehicle batteries begin dominating Li-ion waste streams, recyclers will have to process diverse cathode chemistries at higher volumes. This ongoing shift toward battery recycling will impact every player across the Li-ion battery value chain. Download the executive summary of the report to learn more.
About Lux Research
Lux Research is a leading provider of tech-enabled research and advisory services, helping clients drive growth through technology innovation. A pioneer in the research industry, Lux uniquely combines technical expertise and business insights with a proprietary intelligence platform, using advanced analytics and data science to surface true leading indicators. With quality data derived from primary research, fact-based analysis, and opinions that challenge traditional thinking, Lux empowers clients to make more informed decisions today to ensure future success.
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SOURCE Lux Research