Posts by Sarah
Senior Analyst at Benchmark Mineral Intelligence9h •
End-of-life batteries will be the long-term material source for recycling facilities, namely EOL electric vehicle batteries. Benchmark’s Q2 2023 Recycling Forecast demonstrates the total EOL pool is expected to grow by >30% YOY from 2030 to 2040.
♻️ However, with this opportunity comes a challenge for the industry. To process these EOL batteries and extract the valuable materials within them – lithium, nickel, cobalt, and manganese particularly – the infrastructure must be built up to ensure these materials return to the supply chain. In July, the European Council announced it had adopted the new Batteries Regulation. The regulation seeks to bolster the sustainability of batteries across their life, with a particular focus on the recyclability of batteries. Critically, the Regulation will introduce collection rate targets for batteries:
For portables
- 45% by 2023
- 63% by the end of 2027
- 73% by the end of 2030
For light means of transport
- 51% by the end of 2028
- 61% by the end of 2031
An implicit 100% collection rate for EOL EV batteries
In 2030, the majority of EOL batteries will derive from transport applications, with a significant proportion returning from ESS applications too. Though during the 2030s the overwhelming majority of EOL scrap will be from EVs returning to the market in high volume, which will dwarf the size of the EOL ESS pool in comparison (>80% transport EOL batteries by 2040).
Collaboration across supply chain players will be fundamental in building out the logistical network and capacities to collect and process these batteries. In North America, though no such collection rate targets currently apply, Q2 saw North American battery recyclers initiate their own collection schemes or partner with local services to bolster collection rates. Redwood Materials has been involved in battery collection for some time and expanded its partnership with Volkswagen Group of America in April for the companies to provide collection bins at VW dealerships for consumers to drop off portable devices. Li-Cycle announced a partnership in Monroe Country, NY, with local companies to buildout local battery collection schemes whereby Li-Cycle will be responsible for battery recycling. Such schemes will be key to improving collection rates for EOL batteries.
Get in touch to find out more on Benchmark Mineral Intelligence Recycling Forecast Service
#batteryrecycling #lithiumionbatteries #batterysupplychain #circularity #sustainability
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