Press release
Black Mass Recycling Market valued at USD 6.4 billion in 2024 and is projected to reach USD 18.9 billion by 2030
Black Mass Recycling Market
Market Overview
The Black Mass Recycling Market is expanding rapidly as global demand for lithium-ion batteries increases across electric vehicles (EVs), energy storage systems, consumer electronics, and industrial applications. Black mass-obtained by mechanically processing spent lithium-ion batteries-contains high-value metals such as lithium, cobalt, nickel, manganese, copper, and graphite. These metals are recovered through hydrometallurgical, pyrometallurgical, or direct recycling processes and reintroduced into the battery supply chain.
The global market is valued at USD 6.4 billion in 2024 and is projected to reach USD 18.9 billion by 2030, growing at a strong CAGR of 19.6% during the forecast period. Growth is fueled by EV battery waste generation, raw material shortages, sustainability mandates, and government incentives for circular economy initiatives.
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Market Growth (2024-2030)
• Market Size 2024: USD 6.4 billion
• Market Size 2030: USD 18.9 billion
• CAGR: 19.6%
Europe and Asia-Pacific lead adoption due to aggressive EV mandates, strong recycling regulations, and growing investment in battery circularity.
Key Market Drivers
• Rapid growth of EV adoption, generating higher battery waste volumes
• Rising need to recover critical battery metals (Li, Ni, Co) amid supply shortages
• Government regulations for battery recycling, reuse, and second-life applications
• Increasing investment in circular economy and green manufacturing
• Higher cost savings achieved by recycling compared to mining new materials
• Technological advancements in hydrometallurgical recycling improving recovery efficiency
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Market Segmentation
By Battery Chemistry
• Lithium Nickel Manganese Cobalt (NMC)
• Lithium Iron Phosphate (LFP)
• Lithium Cobalt Oxide (LCO)
• Lithium Nickel Cobalt Aluminum (NCA)
• Lithium Manganese Oxide (LMO)
By Process Type
• Hydrometallurgical Recycling
• Pyrometallurgical Recycling
• Direct Physical/Mechanical Recycling
• Hybrid Recycling Processes
By Recovered Material
• Lithium
• Cobalt
• Nickel
• Manganese
• Copper
• Graphite
• Mixed Black Mass Powder
By Application
• Production of Cathode Active Materials
• Battery Manufacturing (Cell Producers & OEMs)
• Metallurgy & Alloy Manufacturing
• Chemical & Material Industries
• Energy Storage Systems
• Secondary/Refurbished Battery Production
By End-Use Industry
• Automotive (EVs & Hybrid Vehicles)
• Consumer Electronics
• Industrial Energy Storage
• Aerospace & Defense
• Utilities & Grid-Scale Storage
• Specialty Chemical Manufacturers
By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
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Key Market Trends
• Strong shift toward hydrometallurgical recycling for high recovery rates and lower emissions
• Growing investments in battery recycling mega-plants across the U.S., EU, and China
• Rapid scaling of black mass exports from Asia to Europe for refining
• LFP battery recycling gaining traction despite lower cobalt value due to its EV market dominance
• Increased OEM interest in closed-loop recycling partnerships with recyclers
• Transition toward sustainable material sourcing aligned with ESG requirements
Competitive Landscape
Major companies operating in the Black Mass Recycling Market include:
• Li-Cycle
• Redwood Materials
• Umicore
• CATL (Recycling Unit)
• GEM Co. Ltd.
• Stena Recycling
• Ecobat
• RecycLiCo Battery Materials
• Glencore
• Fortum Recycling & Waste
These companies are focusing on technological advancements, expanding hydrometallurgical capacity, securing EV OEM partnerships, and building integrated circular battery ecosystems.
Recent Developments
• Construction of large-scale EV battery recycling plants in Europe and the United States
• Major collaboration deals between EV manufacturers and recyclers for long-term metal supply
• Advancement of direct recycling technology to preserve cathode structure
• Increasing investments by governments to develop battery circular economy hubs
• Development of low-energy hydrometallurgical processes reducing carbon footprint
This report is also available in the following languages : Japanese (ブラックマスリサイクルマーケット), Korean (블랙 매스 재활용 시장), Chinese (黑弥撒回收市场), French (Marché du recyclage des masses noires), German (Schwarzer Massenrecyclingmarkt), and Italian (Mercato del riciclaggio della massa nera), etc.
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