The advent of batteries has facilitated the portability of several devices and limited the usage of wired connections. Lithium-ion battery was first invented by John Goodenough in 1980, and since its emergence, it has become an integral part of technological developments in various fields. Rechargeable lithium-ion batteries have brought a technological revolution in various applications starting from high-powered energy storage devices and electric buses to handheld electronic devices. Since the last 40 years of this innovation, lithium-ion batteries have been used in a varied range of products such as electric vehicles, mobile phones, laptops, and power tools.
The staggering adoption of lithium-ion batteries portrays that it may continue being a prominent source of clean energy, at least till the next decade, especially in the electro mobility field. Thus, a huge dominance of lithium-ion batteries can be anticipated given the ongoing and anticipated trends. The surge in the consumption of lithium-ion batteries further emphasizes on the disposal of batteries that have reached their end-of-life. Most batteries end up in landfill and become a threat to the environment, which leads to the requirement of recycling them.
The global
deployment of lithium-ion batteries has increased rapidly and has been
witnessed in a wide variety of products – from smaller electrical and
electronic devices to large energy storage device and automotive
vehicles. The lithium-ion battery industry is evolving at an enormous
rate with the entrance of new players and new technologies. Huge
investments, along with intensive R&D efforts, are currently being
made by various companies to enhance the energy storage capacity of the
lithium-ion battery. The proliferation of electric vehicles is expected
to act as a catalyst for increasing the production for batteries in
order to suffice the rising battery demand. However, given the continued
usage of lithium and other crucial materials in the lithium-ion
batteries, there is a rising concern regarding the shortage in the
supply of these raw materials. It is anticipated that if the consumption
continues to increase, there would be limited resource available for
future usage. The geographical allocation of the raw materials might
disrupt the overall growth of batteries and existing dynamics of price
as well. Furthermore, apart from tackling the scarcity of resources, the
recycling, reuse, and second life application of the batteries are
being given priority to maximize the utility and benefit the
environment.
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The market of lithium-ion battery has mostly gained
momentum owing to its application in the electric vehicle, ranging from
e-bikes and scooters to electric buses. Given the fast-paced adoption of
electric vehicles across globe, the production of batteries is also
anticipated to increase in the coming future. With an increase in the
consumption of lithium-ion batteries, the need to address the situation
of dead lithium-ion batteries being deposited in landfills also becomes
crucial. The dead batteries pose a threat to the environment, as they
contain toxic materials, which, when exposed to the environment, cause
severe ill-effects and contaminate both land and water. Thus, recycling,
reuse, and second-life applications seem to be an economical and
environmentally favorable option to deal with waste battery stock and
ensure the smooth supply of raw materials considering the unprecedented
growth of different end-user industries of lithium-ion batteries.
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