Black Mass Recycling Market Growth and Restrain Factors Analysis Report

InsightAce Analytic announces the release of a market assessment report on the "Global Black Mass Recycling Market Size, Share & Trends Analysis Report By Battery Source (Automotive, Industrial, And Portable Batteries), Technology (Hydrometallurgy, Pyrometallurgy), Recovered Metal (Nickel, Cobalt, Lithium, Copper, Manganese), And Application (Automotive, Consumer Electronics, Energy, Aerospace And Defense, Construction)- Market Outlook And Industry Analysis 2031"

The global Black Mass Recycling market is estimated to reach over USD 51.22 billion by 2031, exhibiting a CAGR of 20.74% during the forecast period.

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Black mass recycling has a substantial industry impact due to its numerous economic and environmental benefits. Additionally, it has a substantial influence on end-use industries, as it provides diverse benefits that can increase their productivity, decrease their expenses, and provide them with a dependable source of essential metals.The demand for black mass powder is increasing due to the increasing global emphasis on circular economic principles and advancements in recycling technologies to recover high-performance metals.

This has led to a growing transition toward the demand for lithium-ion batteries in end-use industries. This change results from a heightened emphasis on global circular economic principles and recycling technology development to recover high-performance metals.Additionally, the transformation notably affects the automobile and energy sectors in China, Asia-Pacific, Japan, and Europe.Furthermore, there is a growing global emphasis on circular economic principles and advancements in recycling technologies for high-performance metal recovery, which is contributing to a movement toward increased demand and consumption.

List of Prominent Players in the Black Mass Recycling Market:
• BASF SE
• Umicore
• Tenova S.p.A.
• Li-Cycle Corp.
• Exigo Recycling Pvt. Ltd.
• ROYALBEES
• RUBAMIN
• Aqua Metals Inc.
• Lithion Recycling
• AKKUSER
• Duesenfeld
• ELECTRA
• TATA Chemicals Ltd.
• HYDROVOLT AS
• SungEel Hi-Tech. Co., Ltd.
• ECOGRAF
• Fortum
• Redux GmbH
• Green Li-ion Pte Ltd.

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Market Dynamics:
Drivers-
On an international scale, the recycling market for black matter is expanding. New trends are also expected to provide opportunities for the market to expand in the coming years. These trends include increased demand for second-life batteries, increasing investments in recycling technologies, changes in business models due to climate action, a rise in demand for lithium-ion batteries and raw materials throughout the value chain, and advancements in economic and environmental technologies.

Challenges:
The hydrometallurgical step is the most challenging element in the recycling process. One issue is the non-uniform composition of dark matter. Various degraded compounds may be present, contingent upon the battery's utilization history and the battery chemistry employed by each manufacturer. Therefore, the hydro-process must be exceedingly dependable. Even with significant effort, achieving battery grade qualification economically is exceedingly challenging, if not impossible. However, many recycling process inventors maintain that their recycled products may satisfy battery-grade standards. This raises the question of why lithium has not yet been recycled into new batteries. The results acquired at the bench under ideal circumstances do not apply to industrial-scale recycling. Therefore, the market's expansion is being hindered by the factors above.

Regional Trends:
Shortly, the black mass recycling market in Asia Pacific is anticipated to register a significant market share in terms of revenue and to expand at a high compound annual growth rate. With the increasing popularity of electric vehicles, the black mass recycling industry in China and Japan is anticipated to experience substantial growth, which will help support the regional market for these batteries. Numerous gigafactories have been constructed in the region by European businesses to reprocess batteries. For example,
In January 2022, Veolia, the foremost resource management organization in the United Kingdom, declared its intention to construct its initial facility to recycle electric vehicle batteries nationwide. The enterprise is anticipated to process 20% of the used EV batteries in the United Kingdom. The project is anticipated to be completed by 2024.
In January 2022, Li-Cycle, a Canadian company, partnered with Eco Story and Morrow Batteries, two Norwegian businesses, to establish a new industrial lithium-ion battery recycling facility in Norway. The facility is anticipated to process 10,000 metric tonnes of used batteries annually. It is most likely to be in use by 2023.

Recent Developments:
• In February 2023, Umicore is in the process of commercializing battery material technologies that are abundant in manganese for electric vehicles. This remarkable innovation expands Umicore's extensive variety of NMC (nickel, manganese, cobalt) battery materials, enabling the development of long-range electric vehicles (EVs) with exceptional productivity. Additionally, it introduces a technology that is strikingly competitive with the current design-to-cost battery technologies for EVs.
• In June 2021, A project to recover nickel and cobalt material (precursor materials) from an existing plant for battery recycling in the Hubei region of China has received funding commitments totaling around CNY 310 million, according to GEM Co., a battery materials company based in China. By 2025, the company wants to increase its annual precursor output by a factor of three, to 100,000 metric tonnes.

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Segmentation of Black Mass Recycling Market-
By Technology-
• Hydrometallurgy
• Pyrometallurgy
• Others
By Battery Source-
• Automotive Batteries
• Industrial Batteries
• Portable Batteries
By Application-
• Automotive
• Consumer Electronics
• Energy
• Aerospace and Défense
• Construction
• Others
By Recovered Metal-
• Nickel
• Cobalt
• Lithium
• Copper
• Manganese
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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