PUBLISHER: Polaris Market Research | PRODUCT CODE: 1762331
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1762331
According to a new study by Polaris Market Research, the global black mass recycling market size is expected to reach USD 68.74 billion by 2034. The report "Black Mass Recycling Market Size, Share, Trends, & Industry Analysis Report By Battery Type (Lithium-Ion Battery and Nickel-Based Battery), By Recovered Metal, By Recycling Process, By Battery Source, By Region - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Black mass recycling is a specialized process focused on recovering valuable materials from used lithium-ion batteries. When these batteries, sourced from items such as electric vehicles (EVs) or consumer electronics, are collected and processed, they yield a fine, dark powder known as "black mass." This powder is rich in critical metals such as lithium, cobalt, nickel, and manganese, which are extracted and refined. The core purpose of this recycling process is to create a circular economy for battery components, reducing the need for new mining and mitigating environmental impact.
The black mass recycling market is experiencing significant growth, primarily driven by the global rise in EV sales, which is creating a large and increasing volume of end-of-life batteries that require responsible handling. Furthermore, the growing demand for raw materials for essential batteries, coupled with concerns about their supply chain and environmental extraction, further boosts the importance of recycling. This leads to continuous innovation in recycling technologies to improve material recovery rates and purity, ensuring a more sustainable future for battery production.
By battery type, the lithium-ion battery segment dominated the market in 2024, due to its widespread adoption across numerous applications such as electric vehicles, consumer electronics, and energy storage systems.
Based on recovered metal, the nickel segment held the largest share in 2024. This is because of high demand for nickel in various lithium-ion battery chemistries, especially those used in electric vehicles, where it contributes to energy density and stability.
By recycling process, the pyrometallurgical process segment held the largest share in 2024, due to its efficiency and ability to recover high-purity metals, including lithium.
By battery source, the automotive batteries segment represented the largest share in 2024, driven by the increasing global adoption of electric vehicles.
By region, Asia Pacific led the global black mass recycling market in 2024, largely propelled by its vast battery manufacturing capabilities and the rapid growth in EV sales. With their large-scale battery production and consumption, countries such as China, are at the forefront of generating and processing black mass.
A few key players in the market include Umicore; Glencore; Li-Cycle Holdings Corp.; Redwood Materials, Inc.; BASF SE; Contemporary Amperex Technology Co., Limited (Brunp Recycling); Cirba Solutions; Tenova S.p.A.; Lithion Technologies; Akkuser Oy; Duesenfeld GmbH; and Fortum.
Polaris Market Research has segmented the black mass recycling market report on the basis of battery type, recovered metal, recycling process, battery source, and region:
By Battery Type Outlook (Revenue - USD Billion, 2020-2034)
Lithium-Ion Battery
Nickel-Based Battery
By Recovered Metal Outlook (Revenue - USD Billion, 2020-2034)
Nickel
Cobalt
Lithium
Copper
Manganese
Other Metals
By Recycling Process Outlook (Revenue - USD Billion, 2020-2034)
Hydrometallurgical Process
Pyrometallurgical Process
Other Processes
By Battery Source Outlook (Revenue - USD Billion, 2020-2034)
Automotive Batteries
Industrial Batteries
Consumer Electronic Batteries
Power Batteries
Marine Batteries
Others
By Regional Outlook (Revenue - USD Billion, 2020-2034)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America