Black Mass Recycling Global Market Report 2025

The black mass recycling market size has grown rapidly in recent years. It will grow from $10.04 billion in 2024 to $11.73 billion in 2025 at a compound annual growth rate (CAGR) of 16.8%. The growth observed in the historical period can be attributed to the rising demand for electric vehicles, stricter environmental regulations, the increasing need for sustainable resource management, and the wider adoption of lithium-ion batteries.

The black mass recycling market size is expected to see rapid growth in the next few years. It will grow to $21.64 billion in 2029 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period is expected to be driven by the growing emphasis on a circular economy, heightened awareness of environmental impact, increased investment in recycling technologies, and a rise in battery waste generation. Key trends in the forecast period include the integration of AI and automation, the development of second-life battery applications, strategic industry partnerships, and advancements in recycling equipment.

The increasing adoption of electric vehicles (EVs) is expected to drive the growth of the black mass recycling market in the coming years. Electric vehicles are powered by electric motors that use electricity stored in batteries, either solely or in combination with an internal combustion engine. The rise in electric vehicle adoption is mainly driven by the need to reduce greenhouse gas emissions and address climate change by providing a cleaner, zero-emission alternative to conventional vehicles. Black mass recycling benefits the electric vehicle industry by recovering essential materials such as lithium and cobalt from used batteries, thus reducing the need for mining and fostering a more sustainable supply chain for EV production. For example, in 2024, the International Energy Agency (IEA) reported that sales of electric cars in 2023 were 3.5 million higher than in 2022, marking a 35% year-on-year increase. As a result, the growing adoption of electric vehicles is contributing to the growth of the black mass recycling market.

Key companies in the black mass recycling market are focusing on eco-innovation to improve the efficiency, sustainability, and cost-effectiveness of lithium-ion battery recycling processes. Eco-innovation involves the development and implementation of environmentally friendly technologies and solutions that enhance sustainability, resource efficiency, and reduce ecological impact. For example, in December 2024, BatX Energies Pvt. Ltd., an India-based battery recycling company, launched a lithium battery recycling and critical minerals extraction facility in Uttar Pradesh. This plant extracts essential minerals such as lithium and cobalt, supporting India’s EV sector and reducing the country's reliance on imports. The facility promotes sustainability by achieving zero emissions and waste, contributing to a circular economy and supporting India's Net Zero objectives.

In January 2024, BASF, a Germany-based chemicals company, formed a partnership with Stena Recycling Oy, a Sweden-based recycling company that specializes in black mass recycling. This collaboration aims to establish a comprehensive battery recycling system across Europe, contributing to a circular economy by recovering valuable metals from end-of-life electric vehicle batteries and reusing them in new battery production.

Major players in the black mass recycling market are BASF SE, Umicore SA, Veolia Environnement S.A., TATA Chemicals Ltd., Tenova S.p.A., Lohum Cleantech Private Limited, Rubamin Limited, Fortum Oyj, Cirba Solutions LLC, Li-Cycle Holdings Corp., Lithion Recycling Inc., Electra Battery Materials Corporation, Exigo Recycling Pvt. Ltd., Green Li-ion Pte Ltd., Duesenfeld GmbH, EcoGraf Limited, Redux GmbH, Aqua Metals Inc., Royal Bees Pvt. Ltd., SungEel Hi-Tech. Co. Ltd.

Europe was the largest region in the black mass recycling market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in black mass recycling report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the black mass recycling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Black mass recycling involves recovering valuable metals such as lithium, cobalt, nickel, and graphite from used lithium-ion batteries. The process begins by shredding the batteries, creating a fine powder called black mass. This black mass is then treated using mechanical or chemical methods to extract the essential raw materials. The process promotes sustainable battery production and helps minimize environmental damage.

The primary sources of black mass recycling come from automotive, industrial, and portable batteries. Automotive batteries are mainly used in vehicles for starting, lighting, and ignition (SLI) or as power sources in electric vehicles (EVs). Various technologies such as hydrometallurgy, pyrometallurgy, and others are employed in the process, recovering metals such as nickel, cobalt, lithium, copper, and manganese. These metals are used in various industries, including automotive, consumer electronics, energy, aerospace and defense, construction, and more.

The black mass recycling market research report is one of a series of new reports that provides black mass recycling market statistics, including the black mass recycling industry global market size, regional shares, competitors with the black mass recycling market share, detailed black mass recycling market segments, market trends, and opportunities, and any further data you may need to thrive in the black mass recycling industry. This black mass recycling market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The black mass recycling market consists of revenues earned by entities by providing services such as battery sorting, black mass production, and material purification and refining. The market value includes the value of related goods sold by the service provider or included within the service offering. The black mass recycling market also includes sales of products including lithium, cobalt, and graphite. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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