PUBLISHER: Roots Analysis | PRODUCT CODE: 1771409
PUBLISHER: Roots Analysis | PRODUCT CODE: 1771409
As per Roots Analysis, the global black mass recycling market size is estimated to grow from USD 17.69 billion in the current year to USD 72.97 billion by 2035, at a CAGR of 15.22% during the forecast period, till 2035.
The opportunity for black mass recycling market has been distributed across the following segments:
Type of Battery
Type of Recovered Materials
Type of Technology
Type of Battery Source
Geographical Regions
The global transition towards sustainable methodologies has rendered the recycling process particularly significant in the industrial sector. The increasing global adoption of electric vehicles and electronic gadgets raises serious concerns regarding the rising volumes of e-waste. Black mass recycling is gaining traction as a novel approach in managing electronic waste that could effectively address these issues. This recycling technique involves recovering valuable materials from end-of-life batteries, including lithium-ion and lead-acid types. In this process, used batteries are mechanically crushed and shredded into a fine black powder known as black mass. Notably, the environmental advantages, along with the recovery of valuable materials, are likely to fuel the growth of this market.
Additionally, several critical factors, including stringent government regulations and initiatives aimed at promoting battery recycling and a circular economy, are anticipated to propel the market forward. By recognizing these elements, stakeholders are actively working to take advantage of the rising demand for essential materials by enhancing their recycling operations. As a result, the growing significance of sustainable practices in electronics manufacturing, along with advancements in lithium-ion battery recycling technologies, the black mass recycling market is expected to grow during the forecast period.
Based on type of battery, the global black mass recycling market is segmented into lead-acid, lithium-ion, and nickel-cadmium. According to our estimates, currently, lithium-ion segment captures the majority share of the market. This can be attributed to its diverse applications, including electric vehicles (EVs), consumer electronics, and energy storage solutions. In addition, lithium-ion batteries contain precious and limited metals like lithium, cobalt, and nickel, which are essential for producing new batteries.
However, the lead-acid batteries segment is expected to grow at a relatively higher CAGR during the forecast period. This growth can be attributed to their widespread use in automotive and industrial applications that ensure reliable power supply.
Based on type of recovered material, the black mass recycling market is segmented into cobalt, copper and aluminum, graphite, lithium, nickel, and others. According to our estimates, currently, lithium captures the majority of the market. This can be attributed to its widespread adoption that significantly contributes to the growth of this segment, as these batteries are preferred for energy storage solutions in electric vehicles and energy storage systems. However, the copper and aluminum segment is expected to grow at a relatively higher CAGR during the forecast period.
Based on type of technology, the black mass recycling market is segmented into hydrometallurgy, mechanical recycling, and pyrometallurgy. According to our estimates, currently, hydrometallurgy technology captures the majority share of the market. This can be attributed to the fact that hydrometallurgical techniques attain impressive recovery efficiencies for valuable metals, such as lithium, cobalt, and nickel from black mass, with minimal losses. However, pyrometallurgy technology is expected to experience the highest compound annual growth rate (CAGR) during the forecast period.
Based on type of battery source, the black mass recycling market is segmented into automotive, consumer electronics, industrial equipment, and power. According to our estimates, currently, automotive segment captures the majority share of the market. This growth can be attributed to the surge in electric vehicle production. As the adoption of EVs increases, a significant number of lithium-ion batteries will reach the end of their lifespan, resulting in a notable supply of waste batteries available for recycling. However, the consumer electronics sector is expected to grow at a higher compound annual growth rate (CAGR) during the forecast period.
Based on geographical regions, the black mass recycling market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market. However, the market in Asia is expected to grow at a higher compound annual growth rate (CAGR) during the forecast period. This can be attributed to various factors, including significant battery manufacturing, especially in China and South Korea, which are recognized globally as top producers of lithium-ion batteries.
The report on the black mass recycling market features insights on various sections, including: