Black Mass Recycling Market

Report Code CH 9202
Published in Oct, 2024, By MarketsandMarkets™
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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

Updated on : October 25, 2024

Black Mass Recycling Market

The global black mass recycling market is valued at USD 14.41 billion in 2024 and is projected to reach USD 51.70 billion by 2032, growing at 17.3% cagr from 2024 to 2032. The market pertains to the recovering of the useful metals from spent lithium-ion batteries mostly used in electric vehicles (EVs), consumer electronics as well as energy storage devices. The composition of the black mass refers to the homogeneous solid solution of lithium, cobalt, nickel, and manganese formed after the structure of the spent batteries is compromised and the batteries are then smashed. This mixture is then industrially treated to separating out these materials which may be again employed in the manufacture of new batteries and other sectors.

There are a number of important drivers to the growth of the black mass recycling market. For one, the increasing number of electric vehicles, resulting in more lithium-ion batteries in use, consequently more spent batteries to recycle. Secondly, the increasing demand and promotion of sustainable development and a circular economy is seeing the recycling of materials emphasized rather than mining so as to protect the environment. Moreover, the rising costs basic materials including lithium and cobalt, and the increasing scarcity of these metals is forcing people to adopt black mass recycling so as to promote economic viability. Moreover, the growth of rapidly expanding electric vehicle (EV) industry and stringent environmental protection laws is significantly promoting the adoption of black mass recycling procedures in the battery value chain.

Attractive Opportunities in the Black Mass Recycling Market

Asia Pacific

Market growth in Asia Pacific can be attributed to the increasing demand of electric vehicles in the region.

Increasing demand for electric vehicles and stringent local and state government regulations is expected to drive the market.

Subsidies to encourage battery recycling and rising adoption of lithium-ion batteries due to declining prices is expected to provide lucrative opportunities for market players.

The black mass recycling market is expected to be worth USD 51.70 billion by 2032, growing at CAGR of 17.3% during the forecast period.

High cost of recycling and dearth of technologies is expected to pose a challenge to the growth of this market.

Global Black Mass Recycling Market Dynamics

DRIVER: Increasing Demand for Electric Vehicles and Stringent Regulations

The black mass recycling market is significantly driven by the increasing demand for electric vehicles (EV), as the rise in EV production directly means a rise in the consumption of lithium-ion batteries and hence the growth of black mass recycling. These batteries on reaching the end of their useful lives, still contain valuable components like nickel, cobalt, and lithium. These useful components are essential for the production of new batteries. Black mass recycling is a process or is a series of processes that enable the removal of these metals from the spent batteries so that these can again be utilized in new battery production. This not only reduces the dependence on raw material mining, but it also helps in dealing with the environmental issues related to battery disposal. As the global electric vehicle market is expanding, so are the awareness levels regarding sustainable battery recycling, which is thus driving the market for black mass recycling. Moreover, this market is also driven by the stringent local and state government regulations. Governments of various regions including the ones in China, Japan, and European Union are implementing strict laws in order to lessen the landfill waste and in order to prevent the natural resources. These laws often make it a necessity for the battery manufacturers to invest in practices related to the disposal and recycling of batteries, which further drives the market for black mass recycling.

RESTRAINT: Safety Issues Related to Storage and Transportation of Spent Batteries

There are several restraints to the growth of black mass recycling market including the transportation and storage of spent batteries. These batteries when mishandled or when exposed to bad weather conditions or if damaged, have great chances of exploding, of chemical leakage, or even starting a major fire. For instance, specially for the lithium-ion batteries, there is a phenomenon known as thermal runaway, which can cause overheating or can also lead to fire in some situations. Due to such instances, the storage, handling, and transportation of batteries is extremely risky and difficult especially when this is done for longer distances to the recycling facilities. Another obstacle to the black mass recycling market along with these handling complications is the stringent regulations governing the battery transportation and the need for specialized equipment to do so, as these eventually increase the operational expenses of companies involved in black mass recycling. Moreover, the mishandling of batteries during their storage and transportation can also lead in worker injuries and environmental pollution, which may further decrease the possibility of investment in black mass recycling. These restraints are further enhanced by the lack of proper infrastructure and skilled workforce that can handle the rising volumes of end-of-life batteries.

 

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.

CHALLENGES: High Cost of Recycling and Dearth of Technologies

The high cost of recycling and the lack of elaborated technologies are major challenges in the growth of the black mass recycling market. Recycling of lithium-ion batteries for the recovery of valuable materials lithium, cobalt, and nickel is a long and complex process demanding specific facilities, superior equipment, and labor. The costs associated with building and running such recycling plants have thus placed significant barriers for new entrants in the market. The extraction and purification of these metals from the spent batteries are energy-intensive and require advanced technological capabilities not so easily available in most regions. Thus, the overall cost of recycling is highly expensive and becomes economically infeasible for many regions, except in areas where the government can support or subsidize the program. There is also a need for technological innovation in the development of productive recycling methods. Other new developments include hydrometallurgy and pyrometallurgy, but many of these technologies are still in their infancy, and most are not yet commercialized due to high capital investment and indefinite returns. The lack of proven cost-efficient technologies alone makes scaling the black mass recycling market complicated. Such problems will most likely present a significant hurdle to the expansion of the market until technology tackles the inefficiencies and costs associated with the recycling process.

Global Black Mass Recycling Market Ecosystem Analysis

Black mass recycling is the process of recovering valuable materials from end-of-life batteries, supporting sustainability and resource efficiency. The ecosysmet of this market comprises of raw material supplier/black mass recyclers and end-use industries. Prominent companies in this market are well-established recyclers of black mass. The companies have been operating in the market for several years and possess a diversified product portfolio and strong global sales and marketing networks.

 

Consumer Electronics Batteries segment, by battery source, is estimated to account for the highest CAGR during the forecast period.

The consumer electronics batteries segment by battery source is expected to register the highest compound annual growth rate in the black mass recycling market during the forecast period due to multiple reasons. There is a significant rise in the production and usage of lithium-ion batteries in consumer electronics due to the growing global demand of gadgets like laptops, smartphones, wearable technology, and tablets. As the total lifespan of batteries used in these gadgets is relatively less when compared to the ones used in the electric vehicles, hence the consumer electronics generate more amount of spent lithium-ion battery than any the source and hence will register the highest CAGR in the black mass recycling market. Moreover, the increase in the usage of smaller rechargeable batteries in portable electronics is another major factor adding to this high growth of spent battery generation as these batteries also contain valuable metals like lithium, cobalt, and nickel which are becoming rarer day by day and are costly to mine. Recycling these batteries not only reduces the environmental waste but also promotes sustainability by generating the valuable metals from the spent batteries of consumer electronics. Furthermore, the government initiatives providing incentives for the infrastructure development for the recycling of these small batterie is further expected to boost the market for black mass recycling.

Lithium-ion batteries segment, by battery type, is estimated to account for the highest CAGR during the forecast period.

Owing to its rapid adoption across several sectors, the lithium-ion batteries segment, by battery type, is predicted to dominate the market for black mass recycling in terms of growth rate over the forecast period. In today’s world, lithium-ion technology has the greatest market share as it is used to power electric vehicles (EVs), consumer electronics, and even energy storage systems. The increasing trend towards greener energy globally, causing more people to embrace EVs, is one of the major drivers of the prospective lithium-ion batteries market. As lithium – ion batteries are gaining more and more market share, so does the need to recycle the increasing volume of spent batteries. A lot of black mass derived from such batteries contains metals such as lithium and cobalt, nickel that are essential to make new batteries which in turn encourages recycling. In addition, the strong rise in consumption of batteries is also attributed to the need for portable electronic devices and the fast developing application of lithium ion batteries in grid energy storage systems. This, in turn, results in increase of battery wastes generation and rise of battery disposal technology development. Every other government is also paying attention to these issues, by setting strict recycling laws in order to combat the problem of battery pollution thus, waste lithium-ion batteries management becomes important. Thus, it is expected that the lithium-ion batteries segment will be one of the main contributors to the growth in the black mass recycling market and this will happen at the highest CAGR due to extensive application and large recyclability.

North America region is estimated to account for the highest CAGR during the forecast period.

In the black mass recycling market, the North America region is anticipated to have the highest compound annual growth rate due to multiple reasons. One of these reasons is the growing volumes of spent lithium-ion batteries that need to be recycled in the region due to the rise in popularity of electric vehicles particularly in countries like Canada an US. The growth in the usage of electric vehicles in the region can be attributed of government incentives and strict emission rules, and this in turn leads to a rise in the generation of more spent batteries that can be recycled and from which valuable materials like lithium, cobalt, and nickel can be extracted. This further provides the region with more opportunities to recycle black mass. Adding to this is the strong regulatory framework of the region that drives the market for black mass recycling over there. For instance, stringent laws related to batteries and e-waste are being introduced and implemented by the government and environmental organizations in US and Canada. Furthermore, the market growth of black mass recycling in the region is further driven by the fact that North America has some of the top technology firms and automakers in the world which collaborate to enhance the battery lifecycle and are likely to develop newer recycling technologies of these batteries. The region also has a strong industrial base, and it focuses and promotes resource conservation along with sustainability, and these all factors further drive the black mass recycling market in the region.

HIGHEST CAGR MARKET IN 2023
CANADA FASTEST GROWING MARKET IN THE REGION

Recent Developments of Black Mass Recycling Market

  • In April 2024, Volvo and CATL partnered to recycle electric vehicle batteries. Volvo will collect used batteries and send them to certified suppliers to extract key materials. CATL will then use these recycled materials to create new batteries for Volvo’s electric cars. They will work together to ensure this process meets quality and regulatory standards.
  • In February 2024, Cirba Solutions and EcoPro signed an MoU to improve lithium-ion battery recycling. This collaboration is crucial due to the increasing demand for battery materials and the US’s focus on clean energy production.
  • In December 2023, Cirba collaborated with Toyota to improve the battery collection and recycling for Toyota’s hybrid, plug-in hybrid, and electric vehicles across the Midwest and East Coast. Cirba Solutions’ advanced recycling facilities will recover over 95% of critical minerals from the batteries, creating a closed-loop system and reducing Toyota’s environmental impact.
  • In August 2023, RecycLiCo and Nanoramic partnered to improve lithium-ion battery recycling. Nanoramic will provide the battery electrodes used for testing with RecycLiCo’s recycling process, which is known to be very effective. The goal is to develop a system where both companies’ technologies can be used commercially.

Key Market Players

KEY PLAYERS IN THE BLACK MASS RECYCLING MARKET INCLUDE

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Scope of the Report

Report Metric Details
Market size available for years 2019-2032
Base Year Considered 2023
Forecast period 2024-2032
Forecast units Value (USD Million) and Volume (Units)
Segments covered Battery Source, Recycling Process, Battery Type, Recovered Metal, and Region
Geographies covered Asia Pacific, Europe, and North America

 

Key Questions Addressed by the Report

What is the key driver for the black mass recycling market?
The increasing demand of electric vehicles is the key driver of black mass recycling market.
Which region is expected to register the highest CAGR in the black mass recycling market during the forecast period?
The black mass recycling market in North America is estimated to register the highest CAGR during the forecast period.
What is the major source of black mass recycling?
The consumer electronics segment is the major battery source of Black mass recycling market and it also projected to grow with the highest CAGR during the forecast period.
Who are the major players of the black mass recycling market?
The key players operating in the market include Contemporary Amperex Technology Co., Limited (Brunp Recycling) (China), Cirba Solutions (US), Glencore (US), RecycLiCo Battery Materials (Canada), and Umicore (Belgium).
What is the total CAGR expected to record for the black mass recycling market during 2024-2032?
The market is expected to record a CAGR of 17.3 % from 2024-2032.

 

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Table of Contents

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TITLE
PAGE NO
INTRODUCTION
21
RESEARCH METHODOLOGY
25
EXECUTIVE SUMMARY
34
PREMIUM INSIGHTS
37
MARKET OVERVIEW
38
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    - Increasing demand for electric vehicles
    - Stringent local and state government regulations and EPA guidelines
    - Rising demand for recycled products and materials
    - Depletion of earth metals
    RESTRAINTS
    - Safety issues related to storage and transportation of spent batteries
    OPPORTUNITIES
    - Subsidies to encourage battery recycling
    - Rising adoption of lithium-ion batteries due to declining prices
    CHALLENGES
    - High cost of recycling and dearth of technologies
INDUSTRY TRENDS
43
  • 6.1 GLOBAL MACROECONOMIC OUTLOOK
    GDP
    RISING ADOPTION OF ELECTRIC VEHICLES
  • 6.2 SUPPLY/VALUE CHAIN ANALYSIS
  • 6.3 ECOSYSTEM ANALYSIS
  • 6.4 PORTER’S FIVE FORCES ANALYSIS
    BARGAINING POWER OF SUPPLIERS
    BARGAINING POWER OF BUYERS
    THREAT OF NEW ENTRANTS
    THREAT OF SUBSTITUTES
    INTENSITY OF COMPETITIVE RIVALRY
  • 6.5 PRICING ANALYSIS
    AVERAGE SELLING PRICE OF LITHIUM CARBONATE, BY REGION
    AVERAGE SELLING PRICE OF COBALT, BY REGION
    AVERAGE SELLING PRICE OF NICKEL, BY REGION
    INDICATIVE PRICING OF RECOVERED METALS FOR KEY PLAYERS
  • 6.6 TARIFF AND REGULATORY LANDSCAPE
    TARIFF DATA
    REGULATORY LANDSCAPE
    - Regulatory bodies, government agencies, and other organizations
  • 6.7 KEY CONFERENCES & EVENTS, 2024–2025
  • 6.8 KEY STAKEHOLDERS AND BUYING CRITERIA
    KEY STAKEHOLDERS IN BUYING PROCESS
    BUYING CRITERIA
  • 6.9 PATENT ANALYSIS
    METHODOLOGY
    MAJOR PATENTS
  • 6.10 TECHNOLOGY ANALYSIS
    KEY TECHNOLOGIES
    - Lithium-ion battery recycling
    - Pyrometallurgy
    - Hydrometallurgy
    - Pyrolysis
    - Mechanical recycling
    ADJACENT TECHNOLOGIES
    - Lead acid battery recycling
  • 6.11 TRADE ANALYSIS
    IMPORT SCENARIO OF LITHIUM CELLS AND BATTERIES
    EXPORT SCENARIO OF LITHIUM CELLS AND BATTERIES
  • 6.12 CASE STUDY ANALYSIS
    REDWOOD MATERIALS: PIONEERING SUSTAINABLE BATTERY RECYCLING MODEL
    RECYCLING OF LITHIUM-ION BATTERIES: OVERCOMING SUPPLY CHAIN DISRUPTIONS
  • 6.13 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
  • 6.14 INVESTMENT & FUNDING SCENARIO
  • 6.15 IMPACT OF GENERATIVE AI ON BLACK MASS RECYCLING MARKET
    yes
    OVERVIEW OF IMPACT OF GENERATIVE AI ON BLACK MASS RECYCLING MARKET
    - Enhanced predictive analytics
    - Optimization of recycling processes
    - Waste sorting and classification
BLACK MASS RECYCLING MARKET, BY BATTERY TYPE
69
  • 7.1 INTRODUCTION
  • 7.2 LITHIUM-ION BATTERIES
    NEED FOR SUSTAINABLE WASTE MANAGEMENT AND RESOURCE RECOVERY PRACTICES TO DRIVE MARKET
  • 7.3 NICKEL-BASED BATTERIES
    NEED FOR SUSTAINABLE PRACTICES IN CONSUMER ELECTRONICS INDUSTRY TO FUEL GROWTH
BLACK MASS RECYCLING MARKET, BY RECOVERED METAL
72
  • 8.1 INTRODUCTION
  • 8.2 NICKEL
  • 8.3 COBALT
  • 8.4 LITHIUM
  • 8.5 COPPER
  • 8.6 MANGANESE
  • 8.7 OTHER METALS
BLACK MASS RECYCLING MARKET, BY RECYCLING PROCESS
74
  • 9.1 INTRODUCTION
  • 9.2 HYDROMETALLURGICAL PROCESS
    HYDROMETALLURGICAL PROCESS COMPRISES LEACHING, SOLUTION CONCENTRATION & PURIFICATION, AND METAL RECOVERY STAGES
  • 9.3 PYROMETALLURGICAL PROCESS
    PYROMETALLURGICAL PROCESS EMITS HARMFUL GASES, SUCH AS SULFUR DIOXIDE AND CARBON MONOXIDE
  • 9.4 OTHER RECYCLING PROCESSES
BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE
77
  • 10.1 INTRODUCTION
  • 10.2 AUTOMOTIVE BATTERIES
    RISING DEMAND FOR ELECTRIC VEHICLES TO DRIVE BLACK MASS RECYCLING PROCESSES
  • 10.3 INDUSTRIAL BATTERIES
    RISING ADOPTION OF LITHIUM-ION BATTERIES IN DATA CENTERS AND INDUSTRIAL ENERGY STORAGE SYSTEMS TO DRIVE MARKET
  • 10.4 CONSUMER ELECTRONIC BATTERIES
    INCREASED USE OF LITHIUM-ION BATTERIES IN CONSUMER ELECTRONICS TO FUEL MARKET
  • 10.5 POWER BATTERIES
    RISING ADOPTION OF LARGE-SCALE LITHIUM-ION BATTERIES FOR GRID ENERGY STORAGE TO AMPLIFY DEMAND
  • 10.6 MARINE BATTERIES
    GROWING USE OF INDUSTRIAL BATTERIES IN MARINE INDUSTRY TO BOOST BLACK MASS RECYCLING MARKET
  • 10.7 OTHER BATTERY SOURCES
BLACK MASS RECYCLING MARKET, BY REGION
83
  • 11.1 INTRODUCTION
  • 11.2 NORTH AMERICA
    US
    - Need to ensure sustainable resource management and address environmental concerns to drive market
    CANADA
    - Growing demand for EVs and consumer electronics to propel market
    MEXICO
    - Investment by key players in development of electric vehicles to boost market
  • 11.3 ASIA PACIFIC
    CHINA
    - Growing sales of electric vehicles to drive market
    JAPAN
    - Government initiatives related to battery recycling to boost market
    SOUTH KOREA
    - Substantial growth in automotive sector to boost market
    INDIA
    - Development of smart cities to drive market
    AUSTRALIA
    - Supportive government policies to aid market growth
    THAILAND
    - Booming electric mobility sector to drive market
    NEW ZEALAND
    - Supportive government policies to boost recycling of lithium batteries
    SINGAPORE
    - Continuous advancements in battery technologies and recycling methods to drive market
    REST OF ASIA PACIFIC
  • 11.4 EUROPE
    FRANCE
    - Development in battery recycling technologies to fuel market
    GERMANY
    - Growing shift toward EVs and battery-powered machinery to drive market
    NETHERLANDS
    - Growth in EV industry to boost market
    UK
    - Surge in electric vehicle sales to drive market
    NORWAY
    - Replacement of internal combustion engine vehicles with advanced EVs to drive market
    SWEDEN
    - Growing investments in lithium-ion battery recycling to drive market
    ITALY
    - Government initiatives to encourage black mass recycling
    SPAIN
    - Growing investments to promote electric vehicle sales to propel market
    REST OF EUROPE
COMPETITIVE LANDSCAPE
115
  • 12.1 INTRODUCTION
  • 12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
  • 12.3 REVENUE ANALYSIS, 2019–2023
  • 12.4 MARKET SHARE ANALYSIS, 2023
  • 12.5 BRAND/PRODUCT COMPARISON
    RECYCLING PROCESS, BY UMICORE
    RECYCLING PROCESS, BY BASF
    RECYCLING PROCESS, BY TENOVA S.P.A.
    RECYCLING PROCESS, BY LI-CYCLE CORP.
    RECYCLING PROCESS, BY METSO
  • 12.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
    COMPANY FOOTPRINT: KEY PLAYERS, 2023
  • 12.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
    COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
  • 12.8 COMPANY VALUATION AND FINANCIAL METRICS
  • 12.9 COMPETITIVE SCENARIO
    DEALS
    EXPANSION
COMPANY PROFILES
135
  • 13.1 KEY PLAYERS
    BASF
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED (BRUNP RECYCLING)
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    CIRBA SOLUTIONS
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    GLENCORE
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    RECYCLICO BATTERY MATERIALS INC.
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    UMICORE
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    REDWOOD MATERIALS
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    TENOVA S.P.A.
    - Business overview
    - Products/Solutions/Services offered
    - MnM view
    LI-CYCLE CORP.
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    METSO
    - Business overview
    - Products/Solutions/Services offered
    - MnM view
    LITHION TECHNOLOGIES
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    AKKUSER OY
    - Business overview
    - Products/Solutions/Services offered
    DUESENFELD GMBH
    - Business overview
    - Products/Solutions/Services offered
    AQUA METALS, INC.
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    SUNGEEL HI-TECH. CO., LTD.
    - Business overview
    - Products/Solutions/Services offered
    FORTUM
    - Business overview
    - Products/Solutions/Services offered
    REDUX RECYCLING GMBH
    - Business overview
    - Products/Solutions/Services offered
    TATA CHEMICALS LTD.
    - Business overview
    - Products/Solutions/Services offered
    ATTERO RECYCLING PVT. LTD.
    - Business overview
    - Products/Solutions/Services offered
    EXIGO RECYCLING PRIVATE LIMITED
    - Business overview
    - Products/Solutions/Services offered
    ELECTRA BATTERY MATERIALS
    - Business overview
    - Products/Solutions/Services offered
    RUBAMIN
    - Business overview
    - Products/Solutions/Services offered
    HYDROVOLT
    - Business overview
    - Products/Solutions/Services offered
    ECOGRAF
    - Business overview
    - Products/Solutions/Services offered
  • 13.2 OTHER PLAYERS
    LOHUM
    ACE GREEN RECYCLING, INC.
    LICO
    AMERICAN BATTERY TECHNOLOGY COMPANY
    TARGRAY
ADJACENT AND RELATED MARKETS
192
  • 14.1 INTRODUCTION
  • 14.2 LIMITATIONS
  • 14.3 ADJACENT MARKETS
  • 14.4 BATTERY RECYCLING MARKET
    MARKET DEFINITION
    MARKET OVERVIEW
    BATTERY RECYCLING MARKET, BY CHEMISTRY
  • 14.5 LEAD ACID
    LOW RECYCLING COSTS AND HIGH RECOVERY RATES TO DRIVE DEMAND FOR LEAD ACID BATTERIES
  • 14.6 NICKEL-BASED
    HIGH POWER DENSITY OF NICKEL-BASED BATTERIES TO BOOST THEIR GROWTH
  • 14.7 LITHIUM-BASED
    INCREASING GLOBAL CONSUMPTION OF LITHIUM-BASED BATTERIES TO DRIVE THEIR POPULARITY
  • 14.8 OTHERS
APPENDIX
196
  • 15.1 DISCUSSION GUIDE
  • 15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 15.3 CUSTOMIZATION OPTIONS
  • 15.4 RELATED REPORTS
  • 15.5 AUTHOR DETAILS
LIST OF TABLES
 
  • TABLE 1 BLACK MASS RECYCLING MARKET: INCLUSIONS & EXCLUSIONS
  • TABLE 2 BLACK MASS RECYCLING MARKET SNAPSHOT: 2024 VS. 2032
  • TABLE 3 KEY COMPANIES IN LIB (LITHIUM-ION BATTERY) RECYCLING: RECYCLING METHOD ADOPTED AND VOLUME PROCESSED
  • TABLE 4 REAL GDP GROWTH (ANNUAL PERCENTAGE CHANGE) FOR KEY COUNTRIES, 2021–2023
  • TABLE 5 UNEMPLOYMENT RATE, BY KEY COUNTRY, 2021–2023
  • TABLE 6 INFLATION RATE (AVERAGE CONSUMER PRICE), BY KEY COUNTRY, 2021–2023
  • TABLE 7 FOREIGN DIRECT INVESTMENT, 2022 VS. 2023
  • TABLE 8 BLACK MASS RECYCLING MARKET: ROLE OF PLAYERS IN ECOSYSTEM
  • TABLE 9 PORTER’S FIVE FORCES ANALYSIS
  • TABLE 10 AVERAGE SELLING PRICE OF LITHIUM CARBONATE, BY REGION, 2020–2023 (USD THOUSAND/TON)
  • TABLE 11 AVERAGE SELLING PRICE OF COBALT, BY REGION, 2020–2023 (USD THOUSAND/TON)
  • TABLE 12 AVERAGE SELLING PRICE OF NICKEL, BY REGION, 2020–2023 (USD THOUSAND/TON)
  • TABLE 13 INDICATIVE PRICING FOR RECOVERED METALS, BY KEY PLAYER, 2022 (USD THOUSAND/TON)
  • TABLE 14 INDICATIVE PRICING FOR RECOVERED METALS, BY KEY PLAYER, 2023 (USD THOUSAND/TONS)
  • TABLE 15 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 16 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 17 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 18 KEY CONFERENCES & EVENTS, 2024–2025
  • TABLE 19 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MAJOR BATTERY SOURCES (%)
  • TABLE 20 KEY BUYING CRITERIA FOR TOP THREE BATTERY SOURCES
  • TABLE 21 IMPORT DATA FOR LITHIUM CELLS AND BATTERIES (HS CODE: 850650), BY KEY COUNTRY, 2020–2023 (USD THOUSAND)
  • TABLE 22 EXPORT DATA FOR LITHIUM CELLS AND BATTERIES (HS CODE: 850650), BY KEY COUNTRY, 2020–2023 (USD THOUSAND)
  • TABLE 23 BLACK MASS RECYCLING MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION)
  • TABLE 24 BLACK MASS RECYCLING MARKET, BY BATTERY TYPE, 2023–2032 (USD MILLION)
  • TABLE 25 COMPARISON OF PROCESSES INVOLVED IN RECYCLING BATTERIES
  • TABLE 26 BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 27 BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 28 AUTOMOTIVE BATTERIES: BLACK MASS RECYCLING MARKET, BY REGION, 2019-2022 (UNITS)
  • TABLE 29 AUTOMOTIVE BATTERIES: BLACK MASS RECYCLING MARKET, BY REGION, 2023-2032 (UNITS)
  • TABLE 30 BLACK MASS RECYCLING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 31 BLACK MASS RECYCLING MARKET, BY REGION, 2023–2032 (USD MILLION)
  • TABLE 32 NORTH AMERICA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 33 NORTH AMERICA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 34 NORTH AMERICA: BLACK MASS RECYCLING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 35 NORTH AMERICA: BLACK MASS RECYCLING MARKET, BY COUNTRY, 2023–2032 (USD MILLION)
  • TABLE 36 US: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 37 US: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 38 CANADA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 39 CANADA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 40 MEXICO: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 41 MEXICO: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 42 ASIA PACIFIC: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 43 ASIA PACIFIC: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 44 ASIA PACIFIC: BLACK MASS RECYCLING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 45 ASIA PACIFIC: BLACK MASS RECYCLING MARKET, BY COUNTRY, 2023–2032 (USD MILLION)
  • TABLE 46 CHINA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 47 CHINA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 48 JAPAN: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 49 JAPAN: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 50 SOUTH KOREA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 51 SOUTH KOREA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 52 INDIA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 53 INDIA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 54 AUSTRALIA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 55 AUSTRALIA: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 56 THAILAND: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 57 THAILAND: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 58 NEW ZEALAND: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 59 NEW ZEALAND: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 60 SINGAPORE: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 61 SINGAPORE: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 62 REST OF ASIA PACIFIC: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 63 REST OF ASIA PACIFIC: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 64 EUROPE: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 65 EUROPE: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 66 EUROPE: BLACK MASS RECYCLING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 67 EUROPE: BLACK MASS RECYCLING MARKET, BY COUNTRY, 2023–2032 (USD MILLION)
  • TABLE 68 FRANCE: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 69 FRANCE: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 70 GERMANY: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 71 GERMANY: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 72 NETHERLANDS: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 73 NETHERLANDS: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 74 UK: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 75 UK: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 76 NORWAY: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 77 NORWAY: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 78 SWEDEN: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 79 SWEDEN: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 80 ITALY: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 81 ITALY: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 82 SPAIN: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 83 SPAIN: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 84 REST OF EUROPE: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2019–2022 (USD MILLION)
  • TABLE 85 REST OF EUROPE: BLACK MASS RECYCLING MARKET, BY BATTERY SOURCE, 2023–2032 (USD MILLION)
  • TABLE 86 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2020–2024
  • TABLE 87 BLACK MASS RECYCLING MARKET: DEGREE OF COMPETITION
  • TABLE 88 COMPANY REGION FOOTPRINT
  • TABLE 89 COMPANY BATTERY SOURCE FOOTPRINT
  • TABLE 90 COMPANY RECYCLING PROCESS FOOTPRINT
  • TABLE 91 COMPANY RECOVERED METAL FOOTPRINT
  • TABLE 92 DETAILED LIST OF KEY STARTUP/SMES
  • TABLE 93 BLACK MASS RECYCLING MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
  • TABLE 94 BLACK MASS RECYCLING MARKET: DEALS, JANUARY 2020–JULY 2024
  • TABLE 95 BLACK MASS RECYCLING MARKET: EXPANSION, JANUARY 2020–JULY 2024
  • TABLE 96 BASF: COMPANY OVERVIEW
  • TABLE 97 BASF: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 98 BASF SE: DEALS
  • TABLE 99 BASF SE: EXPANSION
  • TABLE 100 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: COMPANY OVERVIEW
  • TABLE 101 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 102 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: DEALS
  • TABLE 103 CIRBA SOLUTIONS: COMPANY OVERVIEW
  • TABLE 104 CIRBA SOLUTIONS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 105 CIRBA SOLUTIONS: DEALS
  • TABLE 106 GLENCORE: COMPANY OVERVIEW
  • TABLE 107 GLENCORE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 108 GLENCORE: DEALS
  • TABLE 109 RECYCLICO BATTERY MATERIALS INC.: COMPANY OVERVIEW
  • TABLE 110 RECYCLICO BATTERY MATERIALS INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 111 RECYCLICO BATTERY MATERIALS INC.: DEALS
  • TABLE 112 UMICORE: COMPANY OVERVIEW
  • TABLE 113 UMICORE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 114 UMICORE: DEALS
  • TABLE 115 REDWOOD MATERIALS, INC: COMPANY OVERVIEW
  • TABLE 116 REDWOOD MATERIALS INC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 117 REDWOOD MATERIALS INC.: DEALS
  • TABLE 118 REDWOOD MATERIALS INC.: OTHERS
  • TABLE 119 TENOVA S.P.A.: COMPANY OVERVIEW
  • TABLE 120 TENOVA S.P.A.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 121 LI-CYCLE CORP.: COMPANY OVERVIEW
  • TABLE 122 LI-CYCLE CORP.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 123 LI-CYCLE CORP.: DEALS
  • TABLE 124 LI-CYCLE CORP.: EXPANSION
  • TABLE 125 METSO: COMPANY OVERVIEW
  • TABLE 126 METSO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 127 LITHION TECHNOLOGIES: COMPANY OVERVIEW
  • TABLE 128 LITHION TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 129 LITHION TECHNOLOGIES: DEALS
  • TABLE 130 LITHION TECHNOLOGIES: EXPANSION
  • TABLE 131 AKKUSER OY: COMPANY OVERVIEW
  • TABLE 132 AKKUSER OY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 133 DUESENFELD GMBH: COMPANY OVERVIEW
  • TABLE 134 DUESENFELD GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 135 AQUA METALS, INC.: COMPANY OVERVIEW
  • TABLE 136 AQUA METALS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 137 AQUA METALS, INC.: DEALS
  • TABLE 138 AQUA METALS, INC.: EXPANSION
  • TABLE 139 SUNGEEL HI-TECH. CO., LTD.: COMPANY OVERVIEW
  • TABLE 140 SUNGEEL HI-TECH. CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 141 FORTUM: COMPANY OVERVIEW
  • TABLE 142 FORTUM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 143 REDUX RECYCLING GMBH: COMPANY OVERVIEW
  • TABLE 144 REDUX RECYCLING GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 145 TATA CHEMICALS LTD.: COMPANY OVERVIEW
  • TABLE 146 TATA CHEMICALS LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 147 ATTERO RECYCLING PVT. LTD.: COMPANY OVERVIEW
  • TABLE 148 ATTERO RECYCLING PVT. LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 149 EXIGO RECYCLING PRIVATE LIMITED: COMPANY OVERVIEW
  • TABLE 150 EXIGO RECYCLING PRIVATE LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 151 ELECTRA BATTERY MATERIALS: COMPANY OVERVIEW
  • TABLE 152 ELECTRA BATTERY MATERIALS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 153 RUBAMIN: COMPANY OVERVIEW
  • TABLE 154 RUBAMIN: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 155 HYDROVOLT: COMPANY OVERVIEW
  • TABLE 156 HYDROVOLT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 157 ECOGRAF: COMPANY OVERVIEW
  • TABLE 158 ECOGRAF: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 159 LOHUM: COMPANY OVERVIEW
  • TABLE 160 ACE GREEN RECYCLING, INC.: COMPANY OVERVIEW
  • TABLE 161 LICO: COMPANY OVERVIEW
  • TABLE 162 AMERICAN BATTERY TECHNOLOGY COMPANY: COMPANY OVERVIEW
  • TABLE 163 TARGRAY: COMPANY OVERVIEW
  • TABLE 164 BATTERY RECYCLING MARKET, BY CHEMISTRY, 2018–2020 (USD MILLION)
  • TABLE 165 BATTERY RECYCLING MARKET, BY CHEMISTRY, 2021–2030 (USD MILLION)
LIST OF FIGURES
 
  • FIGURE 1 BLACK MASS RECYCLING MARKET: RESEARCH DESIGN
  • FIGURE 2 MAIN MATRIX CONSIDERED WHILE CONSTRUCTING AND ASSESSING DEMAND FOR BLACK MASS RECYCLING MARKET
  • FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
  • FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
  • FIGURE 5 METHODOLOGY USED FOR SUPPLY-SIDE SIZING OF BLACK MASS RECYCLING MARKET (1/2)
  • FIGURE 6 METHODOLOGY USED FOR SUPPLY-SIDE SIZING OF BLACK MASS RECYCLING MARKET (2/2)
  • FIGURE 7 BLACK MASS RECYCLING MARKET: DATA TRIANGULATION
  • FIGURE 8 AUTOMOTIVE BATTERIES SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
  • FIGURE 9 LITHIUM-ION BATTERIES SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
  • FIGURE 10 NORTH AMERICA TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
  • FIGURE 11 HIGH OUTPUT OF SPENT BATTERIES FROM ELECTRIC VEHICLES TO DRIVE MARKET GROWTH
  • FIGURE 12 NORTH AMERICA TO ACHIEVE HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 13 BLACK MASS RECYCLING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
  • FIGURE 14 PRICE OF LITHIUM-ION BATTERY PACK, 2013–2023 (USD/KWH)
  • FIGURE 15 GLOBAL BEV & PHEV SALES, 2018–2023
  • FIGURE 16 VALUE CHAIN ANALYSIS
  • FIGURE 17 ECOSYSTEM ANALYSIS
  • FIGURE 18 PORTER’S FIVE FORCES ANALYSIS
  • FIGURE 19 AVERAGE SELLING PRICE TREND OF LITHIUM CARBONATE, BY REGION, 2020–2023 (USD THOUSAND/TON)
  • FIGURE 20 AVERAGE SELLING PRICE TREND OF COBALT, BY REGION, 2020–2023 (USD THOUSAND/TON)
  • FIGURE 21 AVERAGE SELLING PRICE TREND OF NICKEL, BY REGION, 2020–2023 (USD THOUSAND/TON)
  • FIGURE 22 INDICATIVE PRICING FOR RECOVERED METALS, BY KEY PLAYER, 2022–2023 (USD THOUSAND/TON)
  • FIGURE 23 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MAJOR BATTERY SOURCES
  • FIGURE 24 KEY BUYING CRITERIA FOR TOP THREE BATTERY SOURCES
  • FIGURE 25 MAJOR PATENTS RELATED TO BLACK MASS RECYCLING
  • FIGURE 26 IMPORT DATA FOR LITHIUM CELLS AND BATTERIES (HS CODE: 850650), BY KEY COUNTRY, 2020–2023 (USD THOUSAND)
  • FIGURE 27 EXPORT DATA FOR LITHIUM CELLS AND BATTERIES (HS CODE: 850650), BY KEY COUNTRY, 2020–2023 (USD THOUSAND)
  • FIGURE 28 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
  • FIGURE 29 INVESTMENT & FUNDING SCENARIO
  • FIGURE 30 LITHIUM-ION BATTERIES SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
  • FIGURE 31 LITHIUM-ION BATTERIES: RECYCLING PROCESSES
  • FIGURE 32 AUTOMOTIVE BATTERIES SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
  • FIGURE 33 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
  • FIGURE 34 NORTH AMERICA: BLACK MASS RECYCLING MARKET SNAPSHOT
  • FIGURE 35 ASIA PACIFIC: BLACK MASS RECYCLING MARKET SNAPSHOT
  • FIGURE 36 EUROPE: BLACK MASS RECYCLING MARKET SNAPSHOT
  • FIGURE 37 REVENUE ANALYSIS OF TOP THREE PLAYERS, 2019–2023 (USD BILLION)
  • FIGURE 38 MARKET SHARE ANALYSIS, 2023
  • FIGURE 39 BRAND/PRODUCT COMPARISON
  • FIGURE 40 BLACK MASS RECYCLING MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
  • FIGURE 41 COMPANY FOOTPRINT
  • FIGURE 42 BLACK MASS RECYCLING MARKET: COMPANY EVALUATION MATRIX, (STARTUPS/SMES), 2023
  • FIGURE 43 EV/EBITDA
  • FIGURE 44 COMPANY VALUATION
  • FIGURE 45 YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND FIVE-YEAR STOCK BETA OF KEY MANUFACTURERS
  • FIGURE 46 BASF: COMPANY SNAPSHOT
  • FIGURE 47 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: COMPANY SNAPSHOT
  • FIGURE 48 GLENCORE: COMPANY SNAPSHOT
  • FIGURE 49 UMICORE: COMPANY SNAPSHOT
  • FIGURE 50 LI-CYCLE CORP.: COMPANY SNAPSHOT
  • FIGURE 51 METSO: COMPANY SNAPSHOT
  • FIGURE 52 FORTUM: COMPANY SNAPSHOT
  • FIGURE 53 ECOGRAF: COMPANY SNAPSHOT

The study involved four major activities in estimating the current size of the black mass recycling market. Exhaustive secondary research was done to collect information on the market, peer markets, and parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the black mass recycling value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources for this research study include annual reports, press releases, and investor presentations of companies; white papers; certified publications; and articles by recognized authors; gold- and silver-standard websites; black mass recycling manufacturing companies, regulatory bodies, trade directories, and databases. The secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It has also been used to obtain information about key developments from a market-oriented perspective.

Primary Research

The black mass recycling market comprises several stakeholders, such as such as raw material suppliers, technology support providers, battery recyclers, and regulatory organizations in the supply chain. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Primary sources from the supply side included industry experts such as Chief Executive Officers (CEOs), vice presidents, marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the black mass recycling market. Primary sources from the demand side included directors, marketing heads, and purchase managers from various sourcing industries. Following is the breakdown of the primary respondents:

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Market Size Estimation

Both the top-down and bottom-up approaches have been used to estimate and validate the total size of the black mass recycling market. These approaches have also been used extensively to estimate the size of various dependent subsegments of the market. The research methodology used to estimate the market size included the following:

The following segments provide details about the overall market size estimation process employed in this study

  • The key players in the market were identified through secondary research.
  • The market shares in the respective regions were identified through primary and secondary research.
  • The value chain and market size of the black mass recycling market, in terms of value, were determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research included the study of annual and financial reports of the top market players and interviews with industry experts, such as CEOs, VPs, directors, sales managers, and marketing executives, for key insights, both quantitative and qualitative.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in black mass recycling sector.

Market Definition

Black mass recycling refers to the process of recovering valuable materials from used batteries and battery production waste by collecting, disassembling, and crushing them into a substance known as black mass. This black mass contains critical elements, such as lithium, nickel, cobalt, and manganese, which can be extracted and reused. The importance of black mass recycling has grown as it complements the supply of raw materials while helping to reduce the carbon footprint of the battery supply chain. The growth of the industry can be attributed to the increasing environmental concerns, such as resource scarcity, and other concerns, along with a heightened focus on electronic waste management and waste reduction. Additionally, the growing demand for lithium-ion batteries in portable devices, renewable energy storage systems, and electric vehicles is creating a substantial market for advanced recycling technologies, which is, in turn, driving the black mass market.

Stakeholders

  • Raw material manufacturers
  • Technology support providers
  • Black Mass Recyclers
  • Traders, distributors, and suppliers
  • Regulatory Bodies and Government Agencies
  • Research & Development (R&D) Institutions
  • End-use Industries
  • Consulting Firms, Trade Associations, and Industry Bodies
  • Investment Banks and Private Equity Firms

Report Objectives

  • To analyze and forecast the market size of black mass recycling market in terms of value
  • To provide detailed information regarding the major factors (drivers, restraints, challenges, and opportunities) influencing the regional market
  • To analyze and forecast the global black mass recycling market on the basis of battery source, recycling process, battery type, recovered metal, and region
  • To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
  • To forecast the size of various market segments based on three major regions: North America, Europe, and Asia Pacific, along with their respective key countries
  • To track and analyze the competitive developments, such as acquisitions, partnerships, collaborations, agreements and expansions in the market
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies

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