Worldwide, there has been an exponential growth in the production
and application of lithium-ion batteries (LIBs), driven by the
energy transition and the electric vehicle market. The scarcity of
raw materials and the circular economy strategy of LIBs encourage
the need to reuse components, recycle, and give second life to used
batteries. However, one of the obstacles is the insufficient volume
of LIBs for recycling, which prevents the economic viability of
this industrial process.
Thus, Hengyang Industry mainly focuses on the economic aspects of
the recycling of LIBs, presenting and analyzing: (i) the advantages
and disadvantages of recycling and (ii) a survey of factors that
influence the cost and economic feasibility of disposing of
batteries. The importance of regulations, the market, and business
models regarding the recycling of LIBs in a few countries are also
discussed. Finally, a business model is created for recycling LIBs
in Brazil. The main factors that influence the economic feasibility
of this process are indicated, such as government incentives
through regulation, exemption from fees and taxes, and the adequacy
of battery technology. Encouraging recycling through tax exemptions
or reductions can make the process more economically viable, in
addition to contributing to the circular economy. Another essential
factor to be considered is the creation of joint ventures, which
can facilitate the entire chain of the circular economy, including
logistics, transport, and disposal of batteries.
Due to many LIBs being in use, it is essential to be concerned
about the fate of these batteries when they reach the end of their
useful life in the application in which they are found. Significant
environmental impacts are caused during the manufacture of new
batteries. These impacts are even more important than the choice of
battery chemistry. In addition, there is some concern about the
scarcity of raw materials and the possibility of reducing the value
of batteries through recycling. Faced with such situations, there
are two alternatives to the simple disposal of LIBs: second life
and recycling.
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