Lead-acid batteries have been ahead in the recycling stakes from the beginning. The reasons are obvious. The technology is simple, and easy to unpick. Moreover, almost all the world’s approximately 1.015 billion automobiles have electric starters. Add their countless other uses and it is surprising anyone even asks. However, there is a big push to recycle lithium batteries coming soon, and the industry is gearing up.
Pressures behind the Big Push to Recycle Lithium Batteries
Markets & Markets expect global recycling turnover will be worth $11.83 billion in 5 years’ time. This represents a 6.5% compounded growth from the current $8.10 billion for 2016. Their estimate still sees Starter SLI and VRLA lead-acid batteries leading the charge. But there is talk of lithium batteries becoming more of a challenge.
Other pundits see recycling growing by a higher 10.96% through to 2021. Governments are applying pressure on the industry to get its act in gear and recycle lithium batteries at a faster rate. Moreover, lithium is a finite resource and the widening demand-supply gap could start pushing prices soon.
Completing the Lithium Supply-Demand Jigsaw Puzzle
A decade ago, the estimated 13 million tons of lithium seemed sufficient to last forever. Since then, this increased to 18 million tons, but in parallel, something else happened. That ‘something’ is global warming with fossil fuel emissions killing millions annually. Many solar and wind generators are using lithium batteries. As well as almost all laptops, smartphones, smart watches, and other wearables.
The world’s supply of lithium starts looking puny when we add in Elon Musk’s ambitious plans for electric cars. Australian hard-rock production, and brine deposits in Chile and Argentina are still the leading resources. Recent heavy rainfalls disrupted the latter. Moreover the region could become geopolitically unstable, some say. These are the reasons why governments may want the industry to recycle lithium batteries more aggressively.
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