Press release
Black Mass Recycling Market to be Worth $8.87 Billion by 2030: Industry Overview
According to the latest publication from Meticulous Research®, the global Black Mass Recycling Market is forecasted to achieve a valuation of $8.87 billion by 2030, growing at a robust compound annual growth rate (CAGR) of 19.1% over the forecast period from 2024 to 2030. This significant growth trajectory is attributed to several key factors, including advancements in recycling technologies, governmental support, and the increasing need for effective disposal of used batteries.Request For Sample Report: https://www.meticulousresearch.com/request-sample-report/cp_id=5725
Market Growth Drivers:
The black mass recycling market's expansion is primarily fueled by government initiatives aimed at promoting technological advancements in recycling, alongside a rising need to manage battery disposal effectively. Increased battery manufacturing and government incentives for recycling are also pivotal in driving market growth. The emphasis on recovering valuable materials from used batteries further supports the market's upward trajectory, creating substantial opportunities during the forecast period.
Challenges and Trends:
Despite its promising growth prospects, the market faces challenges including inadequate recycling infrastructure and fluctuations in the prices of raw materials used in batteries. The diverse array of battery chemistries presents additional complexities for industry stakeholders. However, notable trends such as advancements in recycling technologies and increasing investments in lithium-ion battery recycling, particularly in emerging markets, are expected to shape the future of the black mass recycling industry.
Market Segmentation:
The black mass recycling market is categorized into several segments:
By Battery Source: Automotive Batteries, Industrial Batteries, Portable Batteries, and Other Sources. The Industrial Batteries segment is anticipated to dominate the market in 2024 due to the extensive use of batteries across various industries for backup power, uninterrupted operations, and portable energy solutions.
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By Battery Type: Lithium-Ion Batteries, Nickel-Metal Hydride Batteries, Nickel Cobalt Manganese Batteries, and Other Types. The Lithium-Ion Batteries segment is projected to hold the largest market share in 2024, driven by the high demand for these batteries in electric vehicles (EVs) and portable electronics, which necessitates efficient recycling processes.
By Recycling Process: Pyrometallurgical Process, Hydrometallurgical Process, and Other Processes. The Pyrometallurgical Process is expected to lead the market in 2024 due to its high recycling rate, efficiency in removing organic materials from Li-ion batteries, and its cost-effective nature.
Regional Insights:
Geographically, the market is segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. The Asia-Pacific region is set to capture the largest market share in 2024, driven by new policies promoting battery recycling, a booming consumer electronics sector, concerns over rare earth metal depletion, and the high adoption rate of electric mobility.
Leading Industry Players:
Key players in the black mass recycling market include: BASF SE (Germany), Umicore SA (Belgium), Tenova S.p.A. (Italy), Li-Cycle Holdings Corp. (Canada), Lithion Recycling Inc. (Canada), AkkuSer Oy (Finland), Duesenfeld GmbH (Germany), Aqua Metals Inc. (U.S.), SungEel Hi-Tech. Co., Ltd. (South Korea), Fortum Corporation (Finland), Redux GmbH (Germany), Green Li-ion Pte Ltd. (Singapore), Tata Chemicals Limited (India), Attero Recycling Pvt. Lyd. (India), Exigo Recycling Pvt. Ltd. (India).
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