Global Power and Energy Storage Battery Recycling Scale Will Exceed 1TWh by 2030

Utmel said that the rapid penetration of the global new energy vehicle market has stimulated the installation of power batteries to increase year by year.

At the same time, the technological route of lithium iron phosphate batteries in the field of electrochemical energy storage has become the mainstream solution of newly installed capacity in recent years, and its proportion is rapidly increasing.

Utmel estimates that the global recycling scale of power and energy storage batteries will exceed 1TWh by 2030, with lithium iron phosphate batteries accounting for more than 58% of the total.

Despite fierce competition, the actual recycling scale of retired power batteries is small.

However, there are still several major problems to be solved in the battery recycling industry at this stage.

First, the lithium ion battery recycling industry is still in its early stages, with approximately 70% of used batteries originating from defective products and wastes of battery factories, implying that the actual recycling scale is still small.

Second, the number of participants in the battery recycling industry is increasing, and the overall industry standardization still needs to be improved.