Global Black Mass Recycling Market to Reach $53 Billion by 2031 - BIS Research Report

The market for discharged lithium-ion batteries is anticipated to expand rapidly as electric vehicles gain popularity, which will also fuel the expansion of the black mass market for recycling.

FREMONT, Calif., March 23, 2023 /PRNewswire/ -- BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Black Mass Recycling Market - A Global and Regional Analysis. 

According to this study, the global black mass recycling market was valued at $9.22 billion in 2022 and is projected to reach $53 billion by 2031.

The following factors are responsible for the increase in demand for black mass recycling:

• Exponential increase in electric vehicles and consumer awareness
• Rising metal prices
• Rising government initiatives, along with technological advancements

The detailed study is a compilation of 199 market data tables and 21 figures spread across 234 pages.

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Analyst's Take on the Market Projection

According to Pooja Tanna, Lead Analyst, BIS Research, "Black mass recycling is the technique of recovering priceless metals and other materials from used lithium-ion batteries. These batteries are recovered majorly from industrial sources. The rising sustainable initiatives, increasing government funding, and focus on closing the loop for batteries are leading to the rise in recycling initiatives. Moreover, a black mass is the source for extracting metals with high purity and is also economical. Further, the presence of a large number of battery chemistries needs focused technologies for recycling metals from the black mass."

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Nickel to Dominate the Black Mass Recycling Market (by Recovered Metal)

Based on the recovered metal segment, nickel metal held the majority share in the black mass recycling market in 2021. Nickel (Ni) has always been employed in batteries, notably in nickel-cadmium (NiCad) and nickel metal hydride (NiMH) rechargeable batteries. The primary benefit of employing nickel in batteries is that it allows for increased energy density and storage capacity at a lower cost. Nickel-based batteries are expected to play a bigger part in energy storage systems because of further advancements in battery technology, which will help lower the price per kilowatt hour (kWh) of battery storage.