A circular economy and geopolitical tensions are prompting governments and companies to secure critical minerals domestically. Asia–Pacific’s lithium‑ion battery recycling market will soar from US$2.3 billion in 2024 to US$14.8 billion by 2034, driven by raw‑material scarcity, renewable‑energy demand and stricter environmental policies. In the U.S., private‑equity‑backed EverMetal is building a critical‑metals recycling platform to process nickel and cobalt scrap, while Volato Group and M2i Global are establishing a Strategic Minerals Reserve (SMR) in Nevada to store and refine gallium, graphite and copper. India’s proposed “Battery Aadhaar” aims to assign digital identities to batteries, enabling traceability and supporting recycling. These initiatives highlight how recycling, traceability and strategic stockpiling are becoming core to battery‑metals strategy.
Research and Markets forecasts that Asia‑Pacific’s lithium‑ion battery recycling market will grow at a 20.7% CAGR to US$14.8 billion by 2034. The drivers include scarcity of lithium, cobalt and nickel, the need to process decommissioned batteries from renewable‑energy systems and EVs, and government regulations promoting sustainable waste management. The pyrometallurgical segment could reach US$3.7 billion by 2034 because of its efficiency in recovering cobalt, nickel and copper, while non‑automotive batteries (consumer electronics and energy storage) are projected to expand at 20.8% CAGR. China leads the region with a US$1.2 billion market in 2024, underpinned by robust recycling infrastructure and strict disposal regulations.
In August 2025, EverMetal Holdings acquired Illinois‑based recycler CAI Custom Alloys. CAI processes complex nickel, cobalt and specialty‑metal scrap and holds vacuum‑melt certifications for aerospace applications. EverMetal, backed by GEF Capital Partners, plans to build the world’s first integrated critical‑metals recycling platform in the U.S. to offer a domestic alternative to imported minerals. Recycling superalloys domestically can lower greenhouse‑gas emissions and give U.S. manufacturers greater control over supply chains.
India’s Battery Summit 2025 proposed Battery Aadhaar, a digital identity system for each battery pack. The initiative would record chemistry, state‑of‑health and usage history to enable traceability, regulatory compliance and end‑of‑life management. Proponents argue that assigning unique IDs, similar to EU battery passports, could reduce import dependence on critical minerals by up to 30% through improved recycling and reuse. The plan acknowledges that battery costs represent around 40% of an EV’s price and sees 128 GWh of batteries retiring annually by 2030 in India – a market opportunity for recyclers.
Volato Group and M2i Global announced a public‑private initiative to create the United States’ first Strategic Minerals Reserve at the Hawthorne Army Depot in Nevada. The reserve will store, refine and distribute critical minerals such as gallium, graphite and copper, which are essential for defence systems, semiconductors and EV batteries. M2i Global CEO Major General Alberto Rosende described the SMR as a “strategic capability” blending innovation and infrastructure to create a durable advantage. The project includes on‑site refining and recycling to close domestic processing gaps, AI tools for forecasting material demand, and workforce training in collaboration with Nevada universities.
Together, these initiatives reflect a broader shift toward closed‑loop supply chains and resource security. Rapid growth in the Asia‑Pacific recycling market indicates strong business opportunities for process technology and logistics providers. EverMetal’s acquisition underscores investor appetite for scrap‑based metal feedstock, particularly for high‑value nickel and cobalt alloys. Battery Aadhaar and similar identification systems can enhance data transparency, enabling regulators to enforce recycling mandates and manufacturers to optimize second‑life use. Finally, strategic reserves like the SMR highlight how governments are treating critical minerals as national‑security assets – potentially affecting global trade flows as stockpiling becomes more prevalent.