In recent years, there has been a global uptick in electric vehicles (EVs), and this is driving an increase in the lithium-ion battery recycling market. Poised to jump from a valuation of $1.33 billion in 2020 to $38.21 billion by 2030, the market is increasing at a staggering rate, reflecting the growth of environmental awareness as well as the technological advancements in the battery recycling process.
Lithium-Ion Batteries
Lithium-ion batteries (LIBs) are known for their rechargeable properties and high energy density. They are found in many electronics such as phones, laptops, tablets, smart watches, and even smaller EVs like e-bikes and e-scooters. As convenient as mobile electronics are, LIBs are also known for their explosive nature and can be extremely dangerous if not disposed of properly.
LIBs undergo self-discharge, and if this process is not controlled, it can lead to a thermal runaway. A damaged cell can allow impurities to penetrate, leading to a significant electrical shortage. During a thermal runaway, the heat from a failed cell can spread to the adjacent one, making it thermally unstable as well. One of the most common factors contributing to battery fires stemming from cell penetration is battery damage, which can occur at any time, especially during disposition.
Importance of Battery Recycling
EVs have skyrocketed in popularity, driving the need for sustainable technology. Battery recycling is gaining global traction as a way to recover valuable metals like lithium, cobalt, and nickel. However, many LIBs end up in landfills, which often leads to landfill fires and environmental pollution due to toxic and flammable materials. Proper e-waste disposition is crucial to e-waste reduction and environmental protection.
ITAD providers partner with other companies for end-of-use services, including safe battery removal and environmentally sound disposal through e-recycling. ITAD partners also provide safe and secure storage to help mitigate device overheating. With the rapid growth of EVs, electronics, and industrial battery applications, the LIB recycling market is critical in supporting the green energy transition.
HOBI is an R2v3, RIOS, NAID, and ISO 14001 certified IT asset management and disposition enterprise with more than 30 years of experience in the waste industry. Our skilled professionals undergo training and take special precautions when handling lithium-ion batteries during battery removal. HOBI prioritizes the safety of its employees through fire safety practices and the use of specialized tools during the disposition process.
For more information about our ITAD services, call 817-814-2620 or contact HOBI at sales@hobi.com.