Dublin, Aug. 26, 2025 (GLOBE NEWSWIRE) -- The "Black Mass Recycling Global Market Report 2025" report has been added to ResearchAndMarkets.com's offering.
The black mass recycling market size has grown rapidly in recent years. It will grow from $10.04 billion in 2024 to $11.56 billion in 2025 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to rising demand for electric vehicles, growing environmental regulations, increasing need for sustainable resource management, and growing adoption of lithium-ion batteries.
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 black mass recycling market size is expected to see rapid growth in the next few years. It will grow to $20.96 billion in 2029 at a compound annual growth rate (CAGR) of 16%. The growth in the forecast period can be attributed to the increasing focus on circular economy, rising awareness of environmental impact, growing investment in recycling technologies, and increasing battery waste generation. Major trends in forecast period includes integration of AI and automation, development of second-life battery applications, strategic industry partnerships, and advancements in recycling equipment.
The forecast of 16% growth over the next five years reflects a modest reduction of 0.5% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. The U.S. black mass recycling market could face delays and higher costs due to tariffs on specialized shredders, separators, and refining components imported from Asia and Europe. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
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.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's 'Recommendations and Conclusions' sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and the ensuing trade tensions in spring 2025 are having a notable impact on the utilities sector, particularly across power generation, grid modernization, and renewable energy initiatives. Increased duties on imported equipment such as turbines, transformers, solar panels, and battery storage systems are driving up both capital and operational expenses for utility companies, prompting many to delay projects or pass higher costs on to consumers through increased energy rates. The water and waste management sectors are similarly affected, as tariffs inflate the cost of essential machinery, piping, and treatment technologies.
Moreover, retaliatory tariffs from key trading partners have disrupted the supply of critical raw materials - such as rare earth elements vital for clean energy technologies - posing further challenges to the shift toward sustainable energy. In response, the sector is increasingly focusing on domestic procurement, digital transformation, and efficiency-enhancing innovations to control rising costs while safeguarding energy reliability and meeting regulatory demands.
Report Scope
Markets Covered:
1) By Battery Source: Automotive Batteries; Industrial Batteries; Portable Batteries
2) By Technology: Hydrometallurgy; Pyrometallurgy; Other Technologies
3) By Recovered Metal: Nickel; Cobalt; Lithium; Copper; Manganese; Other Recovered Metals
4) By Application: Automotive; Consumer Electronics; Energy; Aerospace And Defense; Construction; Other Applications
Subsegments:
1) By Automotive Batteries: Electric Vehicle (EV) Batteries; Hybrid Electric Vehicle (HEV) Batteries; Plug-in Hybrid Electric Vehicle (PHEV) Batteries; Lead-acid Automotive Batteries; Start-Stop Vehicle Batteries
2) By Industrial Batteries: Uninterruptible Power Supply (UPS) Batteries; Telecom Batteries; Energy Storage System (ESS) Batteries; Forklift and Material Handling Equipment Batteries; Grid-Scale Storage Batteries
3) By Portable Batteries: Consumer Electronics Batteries; Power Tool Batteries; Wearable Device Batteries; Camera and Camcorder Batteries; E-bike and E-scooter Batteries
Key Companies Mentioned: BASF SE; Umicore SA; Veolia Environnement S.A.; TATA Chemicals Ltd.; Tenova S.p.A.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Companies Featured
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/k6myao
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