Black mass is an active powder composed of anode and cathode materials together. It is made up of several metals, such as copper, manganese, cadmium, lithium, and cobalt, and contains recoverable metal oxides. Secondary raw materials that are retrieved from garbage can occasionally be recycled back into the manufacturing process or used to build new goods. Recycling batteries makes this possible. Nickel, cobalt, and lithium are recovered from batteries using the battery black mass recycling process; manganese and copper can also be recovered with an optional thermal treatment. Batteries are mechanically divided. Battery black mass recycling is becoming an increasingly important way to reduce the carbon footprint of the battery supply chain and to replenish the supply of virgin materials.
According to SPER market research, ‘Black Mass Recycling Market Size- By Battery Source, By Technology, By Recovered Metal, By Application, By Battery Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Black Mass Recycling Market is predicted to reach USD 15.09 billion by 2033 with a CAGR of 19.39%.
The electrification of transportation is the main factor driving the increased need for lithium-ion batteries. In an effort to satisfy OEM demand and EV policy targets, cell capacity announcements and expansions are continuing downstream; nevertheless, several bottlenecks are found upstream in the supply chain, with Benchmark projecting shortages in the lithium, nickel, and cobalt markets later this decade. Battery recycling is seen by supply chain stakeholders as a means of supporting batteries’ sustainability and circularity as well as, crucially, as a means of easing supply shortages. E-waste generation has become a significant problem due to the quickening pace of technological innovation and the growing global consumption of electronic gadgets. Lithium-ion batteries are used in electronic gadgets, especially portable ones. As a result, the market for black mass recycling is being driven by the constantly increasing amount of black mass produced from these abandoned devices.
Because they release pollutants and greenhouse gases into the atmosphere, some recycling processes, particularly pyrometallurgical ones, can be harmful to the environment. Finding the right balance between the need to recover resources and environmental concerns can be challenging. Black Mass Recycling additionally extracts usable components from batteries through advanced chemical processes. The development of cost-effective and efficient recycling techniques can be challenging, and significant research and development expenditures can be required. Over the course of the projected period, the black mass recycling industry’s expansion is likely to be hindered by the environmental and technological challenges.
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The COVID-19 pandemic affected the black mass recycling market globally by reducing demand for black mass powder and its processing, which in turn limited the industry’s expansion. It is now more difficult to recycle obsolete lithium-ion batteries due to the suspension of recycling operations brought on by the closure of various production locations worldwide. The dark mass recycling market will, however, benefit from government capital expenditures in the building sector and the normalisation of business procedures following Covid-19.
Geographically, Asia Pacific region is anticipated to rule the global market for black mass recycling. The region’s growth is ascribed to the expanding EV industry and the consumer electronics sector. India is the third-largest automobile market globally, ahead of Germany and Japan. Additionally, some of the key market players are ECOGRAF, ELECTRA, Exigo Recycling Pvt. Ltd., Fortum, Green Li-ion Pte Ltd. and others.
Black Mass Recycling Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Battery Source: Based on the Battery Source, Global Black Mass Recycling Market is segmented as; Automotive Batteries, Industrial Batteries, Portable Batteries
By Technology: Based on the Technology, Global Black Mass Recycling Market is segmented as; Hydrometallurgy, Pyrometallurgy
By Recovered Metal: Based on the Recovered Metal, Global Black Mass Recycling Market is segmented as; Cobalt, Copper, Lithium, Manganese, Nickel
By Application: Based on the Application, Global Black Mass Recycling Market is segmented as; Aerospace and Defence, Automotive, Construction, Consumer Electronics, Energy
By Battery Type: Based on the Battery Type, Global Black Mass Recycling Market is segmented as; Nickel-Cobalt Manganese Battery, Nickel-metal Hydride Battery
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
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Black Mass Recycling Market Outlook
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