Press release
Black Mass Recycling Market Anticipated To Witness Robust Growth, Surpassing $21.64 Billion By 2029
Black Mass Recycling Market Size
What Is the Current Black Mass Recycling Market Size and Its Estimated Growth Rate?
The size of the black mass recycling market has seen a swift expansion in recent years. It is projected to ascend from $10.04 billion in 2024 to $11.73 billion in 2025, marking a compound annual growth rate (CAGR) of 16.8%. The historical growth can be linked with the surging demand for electric vehicles, increasing environmental regulations, the need for managing resources sustainably, and the rising adoption rate of lithium-ion batteries.
Expectations are high for the black mass recycling market, with the value set to climb and experience a rapid expansion within the next few years. The market's worth is projected to reach $21.64 billion by 2029, boasting a compound annual growth rate (CAGR) of 16.6%. This anticipated growth during the forecast period can be ascribed to escalated focus towards a circular economy, heightened consciousness about environmental repercussions, increased investment in recycling technologies, and a surge in battery waste production. Key trends expected to define this period include the introduction of AI and automation, the creation of second-life battery applications, formation of strategic partnerships within the industry, and improvements in recycling equipment.
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How Are Emerging Segments Shaping the Black Mass Recycling Market Landscape?
The black mass recycling market covered in this report is segmented -
1) By Battery Source: Automotive Batteries, Industrial Batteries, Portable Batteries
2) By Technology: Hydrometallurgy, Pyrometallurgy, Other Technologies
3) By Recovered Metal: Nickel, Cobalt, Lithium, Copper, Manganese, Other Recovered Metals
4) By Application: Automotive, Consumer Electronics, Energy, Aerospace And Defense, Construction, Other Applications
Subsegments:
1) By Automotive Batteries: Electric Vehicle (EV) Batteries, Hybrid Electric Vehicle (HEV) Batteries, Plug-in Hybrid Electric Vehicle (PHEV) Batteries, Lead-acid Automotive Batteries, Start-Stop Vehicle Batteries
2) By Industrial Batteries: Uninterruptible Power Supply (UPS) Batteries, Telecom Batteries, Energy Storage System (ESS) Batteries, Forklift and Material Handling Equipment Batteries, Grid-Scale Storage Batteries
3) By Portable Batteries: Consumer Electronics Batteries, Power Tool Batteries, Wearable Device Batteries, Camera and Camcorder Batteries, E-bike and E-scooter Batteries
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Which Growth Factors Are Influencing Black Mass Recycling Market Expansion?
The black mass recycling market is seeing an upward trend due to the increased uptake of electric vehicles. Electric vehicles, which are propelled by electric motors and use power from batteries either on their own or alongside a traditional engine, are gaining popularity as they portray a solution to decreasing greenhouse gas emissions and addressing climate change with their zero-emission feature. The black mass recycling aids these electric vehicles by recycling important elements such as lithium and cobalt from spent batteries, which not only diminishes the need to resort to mining but also fosters a more eco-friendly supply chain for the manufacturing of electric vehicles. As per the International Energy Agency (IEA), an independent organization based in France, electric car sales rose by 3.5 million from 2022 to 2023, an increase of 35% annually. Thus, with more electric vehicles being adopted, the black mass recycling market is being propelled to growth.
Who Are the Dominant Players Across Different Black Mass Recycling Market Segments?
Major companies operating in the black mass recycling market are BASF SE, Umicore SA, Veolia Environnement S.A., TATA Chemicals Ltd., Tenova S.p.A., Lohum Cleantech Private Limited, Rubamin Limited, Fortum Oyj, Cirba Solutions LLC, Li-Cycle Holdings Corp., Lithion Recycling Inc., Electra Battery Materials Corporation, Exigo Recycling Pvt. Ltd., Green Li-ion Pte Ltd., Duesenfeld GmbH, EcoGraf Limited, Redux GmbH, Aqua Metals Inc., Royal Bees Pvt. Ltd., SungEel Hi-Tech. Co. Ltd.
What Are the Latest Developing Trends in the Black Mass Recycling Market?
Prominent corporations in the black mass recycling industry are prioritizing the creation of innovative, environment-friendly concepts such as eco-innovation, with a focus on optimizing efficiency, sustainability, and affordability of recycling processes for lithium-ion batteries. In essence, eco-innovation entails producing and implementing eco-friendly technologies, methods, or options that bolster sustainability and resource efficiency while mitigating environmental harm. For example, BatX Energies Pvt. Ltd., which is a battery recycling firm based in India, unveiled a lithium battery recycling plant in Uttar Pradesh capable of extracting vital minerals, in December 2024. This plant, capable of lithium and cobalt extraction, propels the EV sector in India and cuts down on the need for imports. The facility practices complete sustainability, with no waste or emissions, thereby supporting the circular economy and India's Net Zero objectives.
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Which Geographic Regions Are Expected to Dominate the Black Mass Recycling Market in the Coming Years?
Europe was the largest region in the black mass recycling market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the black mass recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Black Mass Recycling Market?
2. What is the CAGR expected in the Black Mass Recycling Market?
3. What Are the Key Innovations Transforming the Black Mass Recycling Industry?
4. Which Region Is Leading the Black Mass Recycling Market?
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