Recycling

Recycling

Market | Battery Chemistry Forecast & Recycling Feedstock

By 2040, battery recycling market in Europe will be up ten-fold vs. 2030 –driven by gigafactory scrap initially, EoL batteries to ramp up from 2030+

GWh

million tonnes

Recycling addresses scarcity of raw materials and provides security of supply for regions with low primary metal production.

Dominant battery chemistry in industry has significant implications for recycling feedstock Feedstock expected to shift from NCM to LFP with growing popularity, with LFP comprising more than 50% of feedstock supply by 2030.

As the first wave of EVs reach end of life in 2030, recycling market is expected to grow substantially. 110GWh (≈ 5.5 million tonnes) of total battery scrap in 2023 and 480GWh (≈ 2.400 million tonnes) by 2033

Source: Benchmark Minerals, 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.