IDTechEx Asks If Recycling Can Alleviate Li-Ion Metal Supply Concerns

Nevertheless, the inherent value in consumer electronics batteries suggests more comprehensive collection and distribution to the relevant recycling facilities needs to be considered. This argument can be furthered when considering the increasing possibility of material supply bottlenecks. IDTechEx estimates that cobalt shortages could arise from the mid-late 2020s, with bottlenecks also expected to arise for lithium, and possibly other materials as well. As a result, Li-ion recycling takes on added importance. While it will not be able to meet forecast material demand in the near future, it could play a role in minimizing material shortages and bottlenecks, which would disrupt the transition to electric vehicles, the deployment of stationary energy storage, and depress the market for Li-ion batteries.

Nevertheless, the inherent value in consumer electronics batteries suggests more comprehensive collection and distribution to the relevant recycling facilities needs to be considered. This argument can be furthered when considering the increasing possibility of material supply bottlenecks. IDTechEx estimates that cobalt shortages could arise from the mid-late 2020s, with bottlenecks also expected to arise for lithium, and possibly other materials as well. As a result, Li-ion recycling takes on added importance. While it will not be able to meet forecast material demand in the near future, it could play a role in minimizing material shortages and bottlenecks, which would disrupt the transition to electric vehicles, the deployment of stationary energy storage, and depress the market for Li-ion batteries.

End-of-life batteries from electric vehicles (including cars, trucks, 2-wheelers, and buses), consumer electronics, stationary storage, as well as battery manufacturing scrap, were examined to gain a clear view of the potential metal recovery recycling is expected to provide. IDTechEx forecast that a combined total of over 180,000 tonnes of lithium, cobalt, nickel, and manganese could be recovered by 2030 through Li-ion recycling, a value which is forecast to grow by approximately 10x by 2042. Recycling will not be a silver bullet and fix all the challenges faced by the Li-ion industry but it can help the shift toward a circular economy and will play an important role in minimizing material shortages and the negative impacts of Li-ion battery production. For more information on the state of the Li-ion recycling market, please see the IDTechEx report "Li-ion Battery Recycling Market 2022-2042".

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