Analysis of the Effects of Recycling and Reuse of Used Electric Vehicle Batteries in Korea

According to the IEA (2022), global rechargeable battery demand is expected to reach 1.3 TWh in 2040.EV batteries will account for about 80% of this demand, and used EV batteries are expected to be discharged after 30 years.Used EV batteries can be recycled and reused to create new value.They can also resolve one of the most vulnerable parts of the battery supply chain: raw material insecurity.In this study, we analyzed the amount of used batteries generated by EV in Korea and their potential for reuse and recycling.As a result, it was estimated that the annual generation of used batteries for EV began to increase to more than 100,000 in '31 and expanded to 810,000 in '45.In addition, it was found that the market for recycling EV batteries in '45 could be expected to be equivalent to the production of 1 million batteries, and the market for reuse could be expected to be equivalent to the production of 36 Gwh of batteries.On the other hand, according to the plan standard disclosed by the recycling company, domestic used EV batteries can account for 11% of the domestic recycling processing capacity (pre-treatment) ('30).So it will be important to manage the import and export of used batteries in terms of securing raw materials.