Black Mass Recycling Market: By Battery Source (Automotive, Industrial, Portable Batteries), By Technology (Hydrometallurgy, Pyrometallurgy), Recovered Metal (Nickel, Cobalt, Lithium, Copper, Manganese, Others), By Application (Automotive, Consumer Electronics, Energy, Aerospace and Defence, Construction, Others) and Geography

Black Mass Recycling Market size was valued at USD 10,363.8 million in 2023 and is poised to grow at a CAGR of 19.3% over 2024-2030. Black Mass Recycling refers to reusing the battery production offcuts and end-of-life batteries that are collected, dismantled, and shredded to produce black mass from which critical materials such as lithium, nickel, cobalt, and manganese can be extracted. The recycling of black mass has become increasingly important as a supplement to virgin material supply and to reduce the carbon footprint of the battery supply chain. Increased awareness of environmental issues such as pollution, resource depletion, and climate change and priority given to electronic waste recycling and waste reduction drives the black mass recycling market.

Furthermore, a sizable market for recycling technology is being created by the growing usage of lithium-ion batteries in portable gadgets, electric cars, and renewable energy storage. It might be an excellent opportunity to develop efficient, sustainable ways to recycle lithium-ion batteries and recover valuable minerals. According to IEA, sales of electric cars hit 6.6 million in 2021 which leads to the increased demand for lithium-ion batteries. There's a trend toward formalizing and regulating these recycling processes for safer and more efficient operations. But the recycling of certain materials such as lithium-ion batteries, can be challenging due to complex compositions and hazardous elements that hinder the growth of the market. However, with increased worldwide focus on circular economic principles and the advancements in recycling technologies for the recovery of high-performance metals, there is an increased shift towards the Black Mass Recycling Market which is anticipated to increase during the forecasted years.

Black Mass Recycling Market Key Developments:

• In March 2023, Lithium-ion battery materials company American Battery Technology Co (ABTC) agreed to a deal with global marketing and supply chain platform TechMet-Mercuria for black mass material to be generated by the first phase of ABTC’s new recycling facility.
• In July 2023, BASF inaugurated its first state-of-the-art high-performance cathode active materials production plant in Germany. BASF became the first company to establish a co-located battery materials and recycling center.