- The recycling of lithium-ion batteries will play a key role in developing a closed-loop system
- The global lithium ion battery recycling market is in a very niche level when compared with the other batteries like lead-acid batteries
The global lithium ion battery recycling market is anticipated to reach 359.6 kilotons by 2025 as per a report by ResearchAndMarkets. The report titled, “Global Lithium-Ion Battery Recycling Market: Focus on Technology, Chemistry, End Source, and Regional Analysis” said that the massive adoption of lithium-ion batteries shows that it will continue being a prominent source of clean energy at least till the next decade. This will happen especially in the electromobility field.
The report also said that the surge in the consumption of lithium-ion batteries leads to emphasising on the disposal of batteries that have reached their end-of-life. The recycling of lithium-ion batteries will play a key role in developing a closed-loop system. It added that the recovered materials can be reused in the batteries and help to meet the growing demand for raw materials in the battery.
Promote the collection of dead batteries
As per the report, the global lithium ion battery recycling market is in a very niche level when compared with the other batteries like lead-acid batteries. Government enforcement and market-based incentives to simplify the designing process of the battery to facilitate easy disassembling are expected to play a key role in the recycling industry. The report added, ” A sound infrastructure to promote the collection of dead batteries and innovate technologies for executing the entire recycling process on a large scale are two essential factors that could escalate the recycling rates of lithium-ion batteries.”