Hazardous waste treatment encompasses the entire management and processing workflow, from collection and transportation to processing and disposal of hazardous waste. In recent years, with economic growth, there has been an intensified focus on environmental protection in the country. As a result, hazardous waste management has garnered increased attention from government agencies. Several industries now have specific regulations and standards for hazardous waste treatment, propelling the industry towards better growth.
The treatment of hazardous waste directly impacts public health and ecological safety. China's emphasis on this domain continues to strengthen. As environmental regulations become stricter, requirements for hazardous waste treatment are rising. Given the relatively late start of China's hazardous waste treatment industry, there remains substantial room for growth and development.
Building an electricity system based on renewable energy is key to achieving carbon neutrality. Energy storage technology is essential for this shift due to the intermittent nature of renewables. Such technology can optimize the use of renewable energy, stabilize the grid, and enhance power system flexibility.
The global goal is carbon neutrality by 2060, underlining the need for a cleaner, fossil-free energy structure. As the world shifts to renewables, their variable outputs challenge power grid stability. Energy storage stands out as a solution, helping balance renewable outputs with demand. Recognizing this, China mandates energy storage in its renewable energy policies, emphasizing its critical role in the future energy landscape.
The development of the new energy industry is a chance in China under the conditions of "more coal, less gas, lean oil". Therefore, promoting the development of the new energy vehicle industry can not only achieve the "carbon neutral" target but also reduce our dependence on energy import and ensure national energy security. In the next five years, the growth rate of China's new energy vehicles will be about 37%. In 2025, the sales volume of China's new energy vehicles will reach about 6.5 million, accounting for more than 40% of the global total.
Power battery costs account for 30-50% of the total electric vehicle. It is the most critical factor affecting the whole new energy vehicle industry.
High nickel ternary materials have become the main development trend of power battery materials due to their high energy density, strong endurance and good stability. At present, ternary materials are mainly made in the rate of 523 and 622. And then it's going to be 811. Therefore, the demand for nickel sulfate is expected to surge in the next few years.