Reports related to this article:
Project(s): View 4 related projects in PECWeb
Plant(s): View 2 related plants in PECWeb
Released November 27, 2023 | NEW DELHI
en
Researched by Industrial Info Resources (Sugar Land, Texas)--As the world is increasingly shifting toward an energy transition to reach an ambitious target of net-zero carbon, lithium-ion battery production has rapidly increased in recent years. Lithium-ion batteries find their application in various electronic devices such as mobile phones and laptops and the expanding market of electric vehicles (EVs).
Increased battery production does have a negative environmental impact, both in terms of the battery production process as well as disposal of spent batteries which contain hazardous materials like lithium, cobalt, and nickel.
Battery recycling is gaining traction as one of the ways that can help mitigate some of these concerns by promoting a circular economy. As lithium is a crucial component in electronics, particularly in the burgeoning landscape of EVs, the rapidly rising global demand for lithium is projected to outpace production by 3% in 2023, Australia's Office of the Chief Economist said in a report earlier this year. Therefore, by recycling spent batteries, the extracted lithium can be reintroduced into the supply chain and help reduce reliance on lithium extraction from mines.
Industrial Info tracking 156 active capital-spending projects worldwide, worth US$16.1 billion, geared toward lithium-ion battery recycling. Around 60% of the total investments are in their initial phase, 25% have progressed to the engineering phase while around 15% are in the construction phase.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for a full list.
By region, Asia is the frontrunner with investments worth US$10.65 billion, followed by North America with US$4.46 billion, together accounting for approximately 94% of the total global spending.
China and the U.S. lead the way with spending worth US$9.83 billion and US$3.89 billion, respectively. The massive investments are largely attributed to the burgeoning EV market in these two countries, therefore, leading to a larger volume of retired batteries.
The prominent players in the battery recycling market are Redwood Materials Incorporated (Carson City, Nevada), with US$2.75 billion worth of projects, and Jingke Holdings Company Limited with US$1.42 billion.
Redwood Materials Incorporated is investing in a grassroot battery materials and recycling plant to extract valuable metals, in Ridgeville, South Carolina. Click here to read more information.
Jinglan New Energy Material Technology (Xiantao) Company Limited, a subsidiary of Jingke Holdings Company Limited, is investing in Phase I and Phase II of a battery recycling plant in Hubei, China, to process 30,000 tons per year of used lithium-ion batteries. Subscribers can read detailed reports on Phase 1 and Phase II.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Increased battery production does have a negative environmental impact, both in terms of the battery production process as well as disposal of spent batteries which contain hazardous materials like lithium, cobalt, and nickel.
Battery recycling is gaining traction as one of the ways that can help mitigate some of these concerns by promoting a circular economy. As lithium is a crucial component in electronics, particularly in the burgeoning landscape of EVs, the rapidly rising global demand for lithium is projected to outpace production by 3% in 2023, Australia's Office of the Chief Economist said in a report earlier this year. Therefore, by recycling spent batteries, the extracted lithium can be reintroduced into the supply chain and help reduce reliance on lithium extraction from mines.
Industrial Info tracking 156 active capital-spending projects worldwide, worth US$16.1 billion, geared toward lithium-ion battery recycling. Around 60% of the total investments are in their initial phase, 25% have progressed to the engineering phase while around 15% are in the construction phase.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for a full list.
By region, Asia is the frontrunner with investments worth US$10.65 billion, followed by North America with US$4.46 billion, together accounting for approximately 94% of the total global spending.
China and the U.S. lead the way with spending worth US$9.83 billion and US$3.89 billion, respectively. The massive investments are largely attributed to the burgeoning EV market in these two countries, therefore, leading to a larger volume of retired batteries.
The prominent players in the battery recycling market are Redwood Materials Incorporated (Carson City, Nevada), with US$2.75 billion worth of projects, and Jingke Holdings Company Limited with US$1.42 billion.
Jinglan New Energy Material Technology (Xiantao) Company Limited, a subsidiary of Jingke Holdings Company Limited, is investing in Phase I and Phase II of a battery recycling plant in Hubei, China, to process 30,000 tons per year of used lithium-ion batteries. Subscribers can read detailed reports on Phase 1 and Phase II.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
