Meticulous Research®, a leading global market research company, has released its latest report, “ Black Mass Recycling Market by Battery Source (Automotive Batteries, Industrial Batteries), Battery Type (Li-ion Battery, Nickel–metal Hydride Battery), Recycling Process (Pyrometallurgical Process, Hydrometallurgical Process) - Global Forecast to 2030.” According to the report, the market is expected to reach $8.87 billion by 2030, growing at a CAGR of 19.1%.
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Market Drivers and Opportunities
The black mass recycling market is experiencing robust growth due to several factors:
•    Government initiatives and technological advancements to enhance battery recycling processes.
•    A rising need to manage used battery disposal, addressing environmental concerns.
•    Expansion in battery manufacturing, particularly for electric vehicles and portable electronics.
•    Government incentives that promote battery recycling and material recovery.
However, challenges like inadequate recycling infrastructure and fluctuating raw material prices persist. Nevertheless, advancements in recycling technologies and growing investments in lithium-ion battery recycling present promising growth opportunities.
Key Market Segments
1.    Battery Source:
o    The market is segmented into automotive, industrial, portable batteries, and others.
o    The industrial batteries segment dominates in 2024, driven by their critical role in ensuring uninterrupted operations and powering portable devices.
2.    Battery Type:
o    Segments include li-ion, nickel–metal hydride, nickel cobalt manganese, and others.
o    The li-ion battery segment leads, driven by high demand for lithium, cobalt, and nickel recovery, and its application in EVs and electronics.
3.    Recycling Process:
o    Segments cover pyrometallurgical, hydrometallurgical, and other processes.
o    The pyrometallurgical process holds the largest share in 2024 due to its efficiency and ability to recover valuable materials.
Regional Insights
Asia-Pacific leads the black mass recycling market, with factors such as:
•    Strong government policies for recycling.
•    A booming consumer electronics market.
•    High demand for EVs and lithium-ion batteries.
Europe and North America also represent significant markets, driven by environmental regulations and advanced recycling infrastructure.
Key Players
Leading companies in the 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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