Page 175 - CW E-Magazine (4-2-2025)

Special Report

Tesla, General Motors, and Ford ramp- production processes. However, large- outright. This model could alleviate
ing up production of electric cars, the scale recycling infrastructure is still in concerns about battery degradation and
demand for high-performance LIBs is its early stages, and signifi cant invest- help make EVs more affordable in the
set to rise. The U.S. government’s ini- ments are required to build sustainable long run.
tiatives to promote clean energy, such practices in the industry.
as tax incentives for EV buyers, will Global expansion of EV charging
further support market growth in the Safety issues infrastructure
region. Despite advancements in battery The widespread expansion of EV
technology, safety remains a key con- charging infrastructure will also play
Europe: Focus on sustainable mobility cern, especially in the case of thermal a crucial role in driving LIB adoption.
In Europe, the market for LIBs is runaway, which can lead to fi res or ex- Governments and private companies
growing steadily, with governments plosions. The LIB industry continues to are investing heavily in building fast-
offering substantial subsidies and incen- work on improving safety features, but charging networks, which will increase
tives for EV adoption. The European ensuring that batteries remain safe dur- consumer confi dence in EVs and, in
Union’s Green Deal and various national ing extreme conditions and in various turn, drive demand for more advanced
initiatives to cut carbon emissions are applications is an ongoing challenge. and effi cient batteries.
creating a favourable environment
for the expansion of the LIB market. Future outlook Advancements in battery recycling
Europe’s ambitious plans to become a The future of the LIB market looks As the number of EVs and energy
leader in the EV industry further ampli- extremely promising, with continued storage systems grows, the need for
fi es the demand for advanced battery innovation and growth expected over effi cient and scalable battery recycling
solutions. the next decade. Here are some of the methods will become even more criti-
key trends and opportunities that will cal. New technologies are being deve-
Challenges and barriers to market shape the market: loped to increase the effi ciency of
expansion recycling processes, which will help
While the LIB market shows Solid-state batteries (SSBs): The next mitigate concerns about raw material
immense potential, there are still chal- frontier shortages and the environmental
lenges that could hinder its growth. SSBs, which use a solid electrolyte impact of battery waste.
instead of a liquid one, are expected
Raw material shortages to be the next breakthrough in battery CONCLUSIONS
Lithium, cobalt, and nickel are cru- technology. These batteries promise The LIB market is on an impressive
cial raw materials for the production higher energy densities, longer life- growth trajectory, fuelled by advance-
of LIBs. As the demand for LIBs spans, and enhanced safety. While still ments in technology, the rise of EVs,
increases, so does the demand for these in the research and development phase, and the increasing focus on renewable
materials. However, supply chain SSBs could disrupt the LIB market energy solutions. Despite challenges
issues, geopolitical concerns, and limited once they are commercialized. related to raw material supply, sustain-
resources in certain countries can create ability, and safety, the market is well-
instability in the supply of these essen- Battery-as-a-Service (BaaS) model positioned for long-term growth. As
tial materials, which could lead to price The rise of the BaaS model is another technology continues to evolve, with
fl uctuations and potential bottlenecks trend that could reshape the industry. innovations like SSBs and BaaS models,
in battery production. Companies in the EV sector are explor- the future of LIBs looks bright, with
ing business models where customers signifi cant opportunities for businesses
Recycling and sustainability concerns lease batteries instead of buying them and consumers alike.
The environmental impact of bat- Chemical Weekly | Import-Export Data | Market Surveys
tery production, especially the mining Directories | Business Forums | Expositions
of raw materials and the disposal of
used batteries, remains a signifi cant The only organisation in India catering exclusively to the needs of the entire chemical industry
Contact:
concern. To address these challenges, SEVAK PUBLICATIONS PVT. LTD.
the industry is focusing on improv- 602-B, Godrej Coliseum, K.J. Somaiya Hospital Road,
ing battery recycling technologies and Behind Everard Nagar, Sion (E), Mumbai 400 022.
developing more sustainable battery Phone: +91-22-24044471 / 72; Email: admin@chemicalweekly.com

Chemical Weekly February 4, 2025 175

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