Black Mass Recycling Market Trends and Segments Forecast To 2029

According to Precision Business Insights (PBI), the latest report black mass recycling market was valued at USD 9,250.7 million in 2022, growing at an 9.3% CAGR during the forecast period 2023 to 2029. The stringent government regulations, incentives, and policies to promote recycling and impose penalties for improper disposal of waste drive the black mass recycling market. Moreover, the economic incentives for manufacturers and businesses that recycling offers along with the reduced need for raw materials and decreased waste disposal expenses attract several industries to invest in the black mass recycling market. Many companies adopt recycling practices as part of their Corporate Social Responsibility initiatives to demonstrate commitment to sustainable business practices. There are many opportunities for innovation in black mass recycling methods given the speed with which technology is developing and the rising amount of e-waste being produced. It might be financially rewarding to create procedures that are more effective and environmentally benign for removing precious elements from electronic gadgets. Furthermore, the increased investments by the government, and key player companies, increased awareness among the population, urbanization, and developed infrastructure are anticipated to burgeon the market during forecasted years.

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The Black Mass Recycling Market is segmented based on battery source, technology, recovered metal, application, and geography.
Based on the battery source, the market is segmented into the following:
• Automotive Batteries
• Industrial Batteries
• Portable Batteries

Based on the technology, the market is segmented into the following:
• Hydrometallurgy
• Pyrometallurgy
• Others

Based on the recovered metals, the market is segmented into the following:
• Nickel
• Cobalt
• Lithium
• Copper
• Manganese
• Others

Based on the application, the market is segmented into the following:
• Automotive
• Consumer Electronics
• Energy
• Aerospace and Défense
• Construction
• Others

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Automotive Segment Dominates the Black Mass Recycling Market:
Due to the increased sales of electric cars around the world, the automotive category is anticipated to expand quickly in the global black mass recycling industry. It performs better than conventional cars in terms of fuel efficiency, low carbon pollution, and maintenance, convenience of home charging, smoother ride, and diminished engine noise. The end-use sectors are moving more and more toward the use of lithium-ion batteries, which is raising the need for black mass powder. According to IEA, the electric cars market is expected to see 14 million in sales by the end of 2023, representing a 35% year-on-year increase with new purchases accelerating in the second half of this year. The batteries are also being manufactured for renewable-plus-storage projects in the area.

North America Leads Black Mass Recycling Market:
Black Mass Recycling Market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is accounted for a significant share in the global black mass market. The Black Mass Recycling Market is expected to grow at a significant CAGR over the forecast years owing to the United States and Canada's investment in battery recycling capacity as automakers and battery manufacturers seek to offset the global shortfall in critical metals such as lithium, nickel, cobalt, and copper. Asia Pacific region is anticipated to grow in the forecasting period owing to increased demand from China, South Korea

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:

Black Mass Recycling Market further reveals that the key players increasingly adopting strategies such as the launch of newer products, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,
In June 2023, Metso introduced a new battery black mass recycling process. The process complements Metso's extensive battery minerals technology offering, which covers concentration and hydrometallurgical processing as well as related services.

In May 2023, Electra Battery Materials Corporation launched updated economics and capital spending estimates of its black mass trial late in 2022 at its Ontario refinery complex to recover high-value elements found in shredded lithium-ion batteries.
In October 2022, Electra Battery Materials Corporation announced the start of the commission of its black mass recycling demonstration plant at its battery materials park located north of Toronto following the successful installation of material feed handling and lime delivery systems, two key circuits in Electra's hydrometallurgical process designed to recycle end of life lithium-ion battery materials.

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Key player's profiles in the black mass recycling market report are BASF SE, Umicore, Tenova S.p.A., Li-Cycle Corp., Lithion Recycling, AKKUSER, Duesenfeld, ELECTRA, ROYALBEES, RUBAMIN, Aqua Metals Inc., HYDROVOLT AS, SungEel Hi-Tech. Co. Ltd., ECOGRAF, Fortum, Redux GmbH, Green Li-ion Pte Ltd., TATA Chemicals Ltd., ATTERO and Exigo Recycling Pvt. Ltd.

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