As regulations and economic factors are ranked the highest by the expert panel, this is a clear indication that currently, the circular economy practice of spent lithium-ion batteries needs development at a system level in parallel with the growth of spent battery volumes. 6.3. Limitations and further research
Answering the second research question, “ What are the main drivers to develop circular business models in the lithium-ion battery market?”, “National and international regulation and policies” followed by “Economic benefits” are considered the main drivers for developing CBMs in the LIB market.
Future research should focus on more in-depth analyses of the assessment categories presented, for example, by studying the value creation and capture in circular business models to upscale the remanufacturing and second use practices of lithium-ion batteries, including empirical data analysis.
Battery energy storage systems (BESS) will have a CAGR of 30 percent, and the GWh required to power these applications in 2030 will be comparable to the GWh needed for all applications today. China could account for 45 percent of total Li-ion demand in 2025 and 40 percent in 2030—most battery-chain segments are already mature in that country.
Therefore, the following Research Questions (RQ): RQ1: What are the circular business models that have the highest potential in the context of lithium-ion battery lifetime management? RQ2: What are the main drivers to develop circular business models in the lithium-ion battery market?
.2 Lithium-sulfur battery technologies (LiSB)The low cost and high abundance of sulfur (i.e. the active cathode material) make LiSB more appealing than Li-ion batteries given the fact that the latter use critical materials, such as cobalt and
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