The report “Black Mass Recycling Market by Battery Type (Lithium-Ion, Nickel), Battery Source (Automotive, Consumer Electronics, Power, Marine), Recycling Process (Pyro, Hydro), Recovered Metal (Nickel, Cobalt, Lithium, Copper), & Region – Global Forecast to 2032″, is projected to grow from USD 14.41 billion in 2024 to USD 51.70 billion by 2032, at a CAGR of 17.3% during the forecast period. The market for black mass recycling is mostly driven by the growing demand for recycled goods and materials. Sustainable practices are becoming important as environmental awareness rises and rules get stricter. Due to their high concentration of precious metals like nickel, cobalt, and lithium, lithium-ion batteries are now popular candidates for recycling. Battery recycling lessens the environmental effect of battery production and promotes a circular economy by recovering these essential ingredients and lowering the reliance on virgin resources. This increased focus on sustainability is directly driving the market.
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• 165 Market data Tables
• 53 Figures
• 201 Pages and in-depth TOC on “Black Mass Recycling Market – Global Forecast to 2032″
• 53 Figures
• 201 Pages and in-depth TOC on “Black Mass Recycling Market – Global Forecast to 2032″
Some of the prominent key players are:
- Glencore (Switzerland),
- Umicore (Belgium),
- Cirba Solutions (US),
- Contemporary Amperex Technology Co., Ltd. (China),
- RecycLiCo Battery Materials Inc. (Canada), and many more….
Opportunity: Subsidies to Encourage Battery Recycling and Rising Adoption of Lithium-Ion Batteries Due to Declining Prices
The black mass recycling market has several opportunities of growth including the subsidies to encourage battery recycling and the growing adoption of lithium-ion batteries due to declining prices. Globally, as the awareness levels regarding sustainability rise, the governments particularly in areas like Asia Pacific, North America, and Europe are providing incentives and financial support in order to encourage the adoption of black mass recycling. These initiatives are offered in order to lessen the environmental waste, to preserve natural resources, and to maintain a continuous supply of depleting reserves of raw materials like nickel, cobalt, and lithium. These government initiatives not only reduce the burden on new entrants in the black mass recycling business but also promote higher investments in the infrastructure required for this business. At the same time, the declining costs of lithium-ion batteries is promoting their integration into consumer electronics, electric vehicles, and energy storage systems. As these various businesses propel or as they expand, the volumes of spent lithium-ion batteries will increase, and so will the potential of black mass recycling market. Thus, this market has a huge potential to grow as the prices for lithium-ion batteries decline along with the rise in subsidies promoting battery recycling.
