U.S. Battery Market Drives Demand for Secondary Metals

U.S. Battery Market Drives Demand for Secondary Metals

U.S. Battery Market Drives Demand for Secondary Metals


Attachment: US smelting 2Q24

April 2, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Batteries are driving much of the growth in the renewable-energy and electric-vehicle (EV) markets, and industry players are constantly on the lookout for the most efficient ways to obtain the materials found in key battery components. Industrial Info is tracking more than $2.2 billion worth of U.S.-based projects in the smelting sector that are set to begin construction in the second quarter, nearly half of which is related to the production of materials used in batteries. The U.S. smelting sector includes the traditional pyrometallurgical smelting technologies, as well as newer and more environmentally friendly hydrometallurgical processing technologies.

Industrial Info is tracking more than $2.2 billion worth of U.S.-based smelting projects that are set to begin construction in the second quarter, nearly half of which is related to the production of materials used in batteries. The evergreen need for battery materials is evident in the markets for both primary smelting, which removes the material from mined ore, and secondary smelting, which removes the material from scrap metal and other used materials, such as outmoded batteries, piping and construction components.

Among the companies pursuing primary-smelting kickoffs in the second quarter is EVelution Energy LLC, American Resources Corporation (NASDAQ:AREC), SungEel HiTech Company Limited, Owl's Head Alloys and Spectro Alloys Corporation.

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