The EOL market is extremely fragmented, and important industry data such as for battery health is mostly inaccessible, incomplete and unreliable, Fastmarkets heard. Still challenging to capture value from used batteries in battery circular value chain But those capacities are still much lower than the volume of scrap available in the global market, Melin said. But the current volume recycled raw materials contributes only 3-6% of domestic demand,” he added.Īs for the global market, Circular Energy Storage believes that the battery recycling market is, and will remain, in undersupply.Ĭhina is playing a leading role in both pre-processing capacity and material recovery capacity compared with the rest of the world. “Ideally, if we can recycle the waste batteries efficiently, it is estimated that the recycled materials can supply 20-25% of China’s demand for lithium and cobalt from 2020 to 2025. “The capacity utilization rate in the battery recycling industry is incredibly low judging from the current market landscape,” Yi said. The planned capacity of waste power lithium battery processing which has passed Environmental Impact Assessment was 1.96 million tonnes, while these companies have planned battery processing capacity exceeding 4 million tonnes, according to Yi. With the lifespan of batteries normally being 5-8 years, a large number of batteries have already started to retire from 2018-2019 in China, according to MEE’s Yi.Īs of October 2022, there are 61 existing and proposed new waste lithium-ion battery recycling and processing companies in China. As battery use rises, the importance of recycling will increase.”Ĭhina’s NEV market has been developing rapidly since 2015. “With recycling, we avoid batteries becoming waste or sent to landfill and reduce dependence on mining for fresh raw materials. “Today’s EV is generating tomorrow’s EOL market,” Johan Fridner, electrochemical specialist at Norsk Hydro said. Rate of capacity utilization in China’s battery recycling industry still too low It will put pressure on the European recycling market because that market has smaller volumes of scrap from cell and pack manufacturing and it will be facing more direct competition from the Asian EOL market, he added. “The export of EVs has reshuffled the end-of-life (EOL) volumes globally,” Melin said. Circular Energy Storage has forecast that the percentage of batteries installed in LEVs made in China and placed on the European market will reach approximately 25% in 2029. In 2022, the total production volume of batteries in China was 545.9 GWh, up by 148.5% year on year, while the installation volume on vehicles was 294.6 GWh, up by 90.7% year on year, Yi said, citing data from the China Automotive Battery Innovation Alliance.Ĭhina’s share in the global EV market will grow not only because of the popularity of EVs in its domestic market, but also due to an increase in exports to Europe and emerging EV markets, Melin said. In 2025, the number of NEV sales is expected to exceed 25 million globally, while sales in China may exceed 13 million, according to Yi.Īs a result, the production and installation of batteries have increased significantly in recent years. Yi Deng of China’s Ministry of Ecology and Environment (MEE) said that the production and sale of NEVs in 2022 were 7.06 million and 6.89 million respectively, up by 96.9% and 93.4% year on year. Some 67% of the light electric vehicles (LEVs) placed on the global market in 2022 were produced in China, which is equal to almost 6 million LEVs, according to Hans Eric Melin, managing director at London-based Circular Energy Storage Research and Consulting.Ĭhina’s new energy vehicle (NEV) industry has entered a stage of explosive growth. Most delegates at the battery recycling event believed that the importance of China as an EV manufacturing country will keep increasing at a rapid rate. China continues to dominate the global EV manufacturing sector They shared insights on the battery recycling industry amid the EV boom and the growing importance worldwide of a circular economy.įastmarkets presents three key things we learned at the conference. Delegates from top-tier car manufacturers, battery cell companies, battery recycling firms and trading houses traveled to the event from more than 22 countries, including the United States, India, South Korea, Japan, France and Sweden.
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