Against this supportive policy backdrop, the commercial reality was brutal. Battery-metal prices bottomed in 2025 - battery-grade lithium carbonate fell to roughly $12/kg before rebounding to around $24/kg by mid-2026 - and the trough triggered a wave of insolvencies that reshaped the competitive field. Ascend Elements filed for Chapter 11, Li-Cycle was acquired by Glencore out of bankruptcy, Lithion Technologies entered creditor protection, and European cell and refining ventures Northvolt, Morrow Batteries and Viridian Lithium failed. The survivors share clear traits: integrated offtake, captive feedstock, government backing, or distinctive low-cost technology.
Activity has consequently bifurcated. Battery recycling remains dominated by China, where CATL's Brunp processed over 200,000 tonnes in 2025 and targets one million tonnes annually by 2030. In the West, momentum has shifted toward rare-earth and magnet recovery - Cyclic Materials, HyProMag, Carester/Caremag and Paladin all advanced funded, friend-shored projects - alongside rare-earth-free magnet substitution led by Niron Magnetics. Meanwhile, the EV end-of-life wave that builds sharply after 2030 guarantees the largest secondary feedstock stream in history. The market's trajectory therefore hinges on a single dynamic: whether stockpile demand and price floors can stabilise recovered-material economics enough to outlast spot-price volatility. The forecasts in this report assume they increasingly can, lifting recovered-material value toward roughly $250 billion by 2047.
The Global Critical Materials Recovery Market 2027-2047 is a comprehensive, two-decade analysis of how the world will recover critical and strategic raw materials from secondary sources - end-of-life products, manufacturing scrap and industrial waste - as supply-chain security becomes the defining force in the global minerals economy. The report opens against a transformed backdrop. Following China's 2024-2025 export controls on gallium, germanium, graphite and rare-earth magnets, recovery has shifted from an environmental activity to a strategic imperative. New instruments - the United States' Project Vault strategic reserve, the 54-nation FORGE friend-shoring framework, the EU Critical Raw Materials Act, and a wave of government-backed processing finance - are reshaping the economics of recycling. At the same time, a sharp 2025 battery-metal price trough triggered a wave of recycler insolvencies, accelerating consolidation toward integrated, policy-backed players.
This report quantifies the opportunity through detailed 2027-2047 forecasts by material, recovery source and region, and evaluates the technologies, business models and companies positioned to capture it across rare earths and magnets, lithium-ion batteries, semiconductors and platinum group metals.
Report content includes:
- 20-year market forecasts (2027-2047) by material, recovery source and region - in both tonnes and value (USD)
- Supply-chain-security analysis: Project Vault, FORGE, the 54-nation framework, export controls and price-floor mechanisms
- Critical material extraction technologies - hydrometallurgy, pyrometallurgy, biometallurgy, ionic liquids/deep eutectic solvents, electrochemical and supercritical methods - with TRL and value-proposition assessments
- Critical material recovery technologies - solvent extraction, ion exchange, precipitation, biosorption, electrowinning and direct recovery
- Rare-earth element and permanent-magnet recovery, including long-loop and short-loop recycling and rare-earth-free magnet substitution
- Li-ion battery recycling: chemistries, black mass, economics, EV end-of-life scrappage forecasts, capacity, regulations and the 2025-2026 industry shakeout
- Critical semiconductor recovery from e-waste and photovoltaics
- Platinum group metal recovery from autocatalysts, fuel cells and electrolysers
- Pricing trends, market drivers, restraints, and technology-readiness evaluations
- Profiles of 165 companies across the recovery value chain
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Accurec Recycling GmbH
- ACE Green Recycling
- Altilium
- American Battery Technology Company (ABTC)
- Anhua Taisen
- Aqua Metals
- Ascend Elements
- Attero
- BacTech Environmental
- Ballard Power Systems
- BANIQL
- BASF
- Battery Pollution Technologies
- Batx Energies
- Berkeley Energia
- BHP
- BMW
- Botree Cycling
- Brazilian Nickel
- Carester
- Ceibo
- Cheetah Resources
- CATL
- Cirba Solutions
- Circunomics
- Circular Industries
- Cyclic Materials
- Cylib
- DEScycle
- Dowa Eco-System
- Dow Chemicals
- Dundee Sustainable Technologies
- DuPont
- EcoBat
- eCobalt Solutions
- Econili Battery
- EcoPro
- Electra Battery Materials
- Electramet
- Elmery
- Elemental Group
- Element Zero
- Emulsion Flow Technologies
- Enim
- EnviroMetal Technologies
- Eramet
- ExPost Technology
- Farasis Energy
- First Solar
- Fortum
- 4R Energy
- Freeport-McMoRan
- Fluor
- FLSmidth
- Ganfeng Lithium
- Ganzhou Cyclewell
- GEM
- GLC Recycle
- Glencore
- Gotion
- GREEN14
- Green Li-ion
- Green Mineral
- GS Group
- Guangdong Guanghua Sci-Tech
- Huayou Cobalt
- Henkel
- Heraeus
- HydroVolt
- HyProMag
- InoBat
- Inmetco
- Jiecheng New Energy
- JPM Silicon
- JX Nippon Metal Mining
- Keyking Recycling
- Korea Zinc
- Kyoei Seiko
- Igneo
- IXOM
- Jaelle Technologies
- Jervois Global
- Jetti Resources
- Kemira Oyj
- Librec
- Lithium Australia
- LG Chem
- Li Industries
- LICO Materials
- Lithion Technologies
- Litus Inc.
- Lohum
- MagREEsource
- Mecaware
- Metastable Materials
- Metso
- Minerva Lithium
- MIRARCO
- Mitsubishi Materials
- Neometals
- NEU Battery Materials
- Nickelhutte Aue
- NioCorp Developments
- Niron Magnetics
- Nordic Salt Cycle
- Nouryon

