SMM survey: what kind of metal do you like most in 2022?
With the recent surge in the price of raw materials for electric vehicle batteries, waste batteries that can extract metal have attracted more and more attention. The waste battery with poor performance has the advantage of being used in other fields.
According to market research firm SNE Research, the market for used batteries in electric vehicles, which will be 1.65 trillion won (about 8.8 billion yuan) in 2019, will grow to 20.2 trillion won (108 billion yuan) in 2030. It is expected to reach 600 trillion won (3.22 trillion yuan) by 2050.
In order to seize this new market, not only battery manufacturers, but also automobile and energy companies have joined, and the competition is becoming more and more fierce.
LG Chemical and Battery subsidiary LG Energy Solutions recently invested a total of 60 billion won (322 million yuan) in Li-Cycle, the largest battery recycling company in North America.
Ry-Cycle has the expertise to extract key battery materials by recycling batteries. LG Energy Solution has decided to extract nickel from Ry-Cycle 's waste batteries within 10 years from 2030.
SK Innovation recently established a "BMR Propulsion Division" to launch "BMR (Battery Metal Recycling)", a waste battery recycling business that is being developed as the next-generation growth engine.
In addition, SK Innovation has developed its own technology to recover lithium hydroxide from the cathode material of waste batteries and is about to commercialize it.
