Components with embedded technology metals in the selected signature products include:
- lithium-ion batteries: comprise a key component of electric vehicles, but they are also usedin energy storage applications and electronics
- permanent magnets: essential for producing a range of motor applications, including electric vehicle traction motors and wind turbine generators
- printed circuit boards: used in nearly all electronic products, enabling all other components to connect to each other
Developing a circular economy for technology metals requires understanding the range and technical characteristics of components, as well as their material content. This information is rarely available, especially for many of the minor metals, so additional value is hardly ever extracted from the technology metals found in numerous components.
Components in detail
Electric vehicle batteries
Lithium-ion batteries are a core technology for the decarbonisation of transport. Technology metals like cobalt, lithium and nickel are essential for developing high-performance batteries for electric vehicles. Batteries require careful management at the end of their lives to ensure good waste-management practices and stewardship of the technology metals that they contain.
Permanent magnets
Rare earth permanent magnets enable some of the most efficient motors and generators. They provide the best technology option for applications like offshore wind power generation and electric vehicle traction motors. Materials like neodymium, praseodymium, dysprosium and terbium are essential for the manufacture of rare earth permanent magnets.
Printed circuit boards
Printed circuit boards are used in nearly all electronic products and in electrical and electronic engineering to connect electronic components to one another. The world market for printed circuit boards exceeded $60.2 billion in 2014 and is estimated to reach $79 billion by 2024.