供需错配，行业寒冬延续！动力电池回收行业困局待解

Core Viewpoint - The article discusses the challenges and opportunities in the used power battery recycling industry, highlighting the mismatch between the anticipated retirement of batteries and actual market demand, as well as the impact of informal recycling channels on profitability [1][3][4]. Group 1: Industry Overview - The used power battery recycling industry is experiencing rapid growth due to the expansion of the electric vehicle market, with over 172,000 battery recycling-related companies in China, more than 60% of which were established within the last three years [3]. - Despite the industry's expansion, the actual utilization rate of battery recycling capacity is only 15.5%, with a significant gap between the projected retirement of batteries and the actual recycling volume [3][4]. Group 2: Market Dynamics - The market is characterized by a seller's market due to supply-demand mismatch, with high acquisition prices for retired batteries and low profitability for recycling companies [6][7]. - Informal recycling operations without environmental and safety certifications are exacerbating the situation by offering higher prices for retired batteries, further straining the profitability of legitimate companies [6][7]. Group 3: Future Outlook - Experts predict that the anticipated "retirement wave" of power batteries may be delayed by 4-5 years, impacting the expected influx of retired batteries into the recycling market [4][5]. - The industry is expected to face ongoing challenges, but there is potential for growth if companies enhance channel development and technological innovation [10]. Group 4: Regulatory Environment - The Chinese government is revising regulations to ensure retired batteries are funneled into legitimate recycling channels, with new guidelines expected to be released within the year [1][9]. - Recent provincial regulations in Sichuan aim to standardize the recycling process and establish regional centers to manage battery disposal effectively [9].