Lithium Battery Recycling Market Shows Strong Growth Potential

Recycling Industry Could Reach $3.1 Billion Annually in Australia by 2035

The lithium battery recycling market is emerging as a critical component of the clean energy transition. According to research from Edith Cowan University, the recycling industry could be worth between $603 million and $3.1 billion annually in Australia within just over a decade. This growth is driven by the fact that only around 20% of a lithium-ion battery's capacity is used before it's retired from electric vehicles, meaning nearly 80% of the battery's lithium capacity remains. By 2035, Australia alone could be generating 137,000 tonnes of lithium battery waste annually. Recycling offers significant environmental advantages compared to mining, using 83% less energy, consuming 79% less water, and minimizing land disruption and chemical pollution. Companies like Toshiba have developed direct recycling methods that can reduce carbon footprint by up to 85% compared to virgin materials, with recycled batteries retaining more than 97% of their original capacity.