Recycling

Recycling

Market | Secondary Metal Supply & Demand Forecast

Demand for lithium batteries expected to increase 5 fold by 2033 at 15% CAGR, which will translate to demand for battery metals. The surge in electrification and cell production is set to escalate demand for battery metals. In the short-term, recycling can help to meet a part of this demand, providing marginal security of supply for regions with low primary metal production. Over the long term, recycling is going to play a key role in meeting market demand.

2023 Co: 15k tonnes (5% of total supply) LCE: 57k tonnes (3%) Ni: 62k tonnes (1%)

2033 Co: 64k tonnes (12%) LCE: 238k tonnes (6%) Ni: 259k tonnes (5%)

Source: Fastmarkets Battery Recycling Forecast. Battery Raw Materials Global Outlook Webinar - November 2023, EU recycling market study Strategy& | PEM of RWTH Aachen University

Extracted from the PDF; charts and images may read imperfectly.