세계의 블랙 매스 재활용 시장 규모, 점유율, 예측, 동향 분석 : 배터리 유형별, 배터리 공급원별, 재활용 프로세스별 - 예측(-2032년)

Black Mass Recycling Market Size, Share, Forecast, & Trends Analysis by Battery Type (NMC, LCO, LMO, NCA), Battery Source (Automotive Batteries, Consumer Electronics, Industrial), Recycling Process (Hydrometallurgy, Pyrometallurgy)-Global Forecast to 2032

According to the research report titled, 'Black Mass Recycling Market Size, Share, Forecast, & Trends Analysis by Battery Type (NMC, LCO, LMO, NCA), Battery Source (Automotive Batteries, Consumer Electronics, Industrial), Recycling Process (Hydrometallurgy, Pyrometallurgy)-Global Forecast to 2032,' the black mass recycling market is projected to reach $20.4 billion by 2032, at a CAGR of 22.5% during the forecast period 2025-2032. The report provides an in-depth analysis of the global black mass recycling market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2032.

Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and trends. The growth of this market is driven by the accelerating adoption of electric vehicles (EVs), which is increasing the volume of spent lithium-ion batteries requiring recycling. The rising demand for critical battery metals such as lithium, cobalt, and nickel, coupled with supply chain vulnerabilities, is encouraging manufacturers and governments to prioritize recycled materials to reduce dependence on mining.

Additionally, the rapid development of battery gigafactories is fueling the need for efficient recycling solutions. Technological advancements, particularly in hydrometallurgical and direct recycling processes, are enhancing metal recovery rates and cost-efficiency, supporting market growth. Despite these positive trends, the industry faces challenges including insufficient recycling infrastructure, the complexity of diverse battery chemistries, and competition from lower-cost mined materials. However, government incentives like tax credits and grants, along with expanding demand in emerging markets such as India and Southeast Asia, present substantial opportunities.

Notably, the shift toward hydrometallurgical techniques and closed-loop recycling systems is transforming battery recycling from a waste management activity into a vital component of sustainable energy storage, enabling direct reuse of recovered materials in new battery production and fostering a circular economy within the sector.

The key players operating in the black mass recycling market are BASF SE (Germany), Umicore SA (Belgium), Tenova S.p.A. (Italy), Li-Cycle Holdings Corp. (Canada), Lithion Recycling Inc. (Canada), AkkuSer Oy (Finland), Duesenfeld GmbH (Germany), Aqua Metals Inc. (U.S.), SungEel Hi-Tech. Co., Ltd. (South Korea), Fortum Corporation (Finland), Redwood Materials Inc. (U.S.), Green Li-ion Pte Ltd. (Singapore), Tata Chemicals Limited (India), Attero Recycling Pvt. Ltd. (India), Exigo Recycling Pvt. Ltd. (India).

The black mass recycling market is segmented by battery type (lithium cobalt oxide (LCO), lithium nickel manganese cobalt oxide (NMC), lithium manganese oxide (LMO), lithium nickel cobalt aluminum oxide (NCA), and other batteries), battery source (automotive batteries, industrial batteries, consumer electronics, and other battery sources), recycling process (hydrometallurgy, pyrometallurgy, and other recycling processes), and geography. The study also evaluates industry competitors and analyzes the country-level markets.

Based on battery type, the lithium nickel manganese cobalt oxide (NMC) segment is expected to account for the largest share of the black mass recycling market in 2025. The major share of this market is mainly attributed to the widespread use of NMC batteries in electric vehicles and electronics, driven by their high energy density, longer lifespan, and growing demand for sustainable battery recycling solutions. Additionally, the increasing adoption of electric vehicles globally and supportive government regulations promoting battery recycling further boost the demand for NMC recycling. Manufacturers are also investing in advanced recycling technologies to recover valuable metals like nickel, cobalt, and lithium efficiently. These factors collectively contribute to the growing market share of the NMC segment in black mass recycling.

Based on battery source, the consumer electronic batteries segment is projected to record the highest CAGR during the forecast period. The fast growth of this segment is mainly attributed to the global proliferation of smartphones, laptops, tablets, wearable devices, and other portable electronic gadgets, all of which utilize lithium-ion batteries. The shorter lifecycle of batteries in consumer electronics compared to automotive and industrial batteries leads to a quicker turnover and a continuous supply of spent batteries for recycling. Furthermore, increasing awareness about e-waste management and regulatory actions to properly dispose of electronic devices are further accelerating the recycling of consumer electronics batteries.

Based on recycling process, the hydrometallurgy segment is expected to account for the largest share of the black mass recycling market in 2025. The large share of this segment is attributed to the several advantages of hydrometallurgical method offers over traditional pyrometallurgical processes. Hydrometallurgy involves the use of aqueous chemical solutions to selectively leach and recover valuable metals such as lithium, cobalt, nickel, and manganese from the black mass. This method allows for higher recovery rates of these critical materials, particularly lithium, which is often lost during high-temperature pyrometallurgical processing. As a result, hydrometallurgy has become the preferred choice for battery recyclers seeking to maximize the economic value extracted from spent lithium-ion batteries.

An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. Asia-Pacific is slated to register the highest CAGR during the forecast period, mainly due to the rapid industrialization, increasing adoption of electric vehicles, and strong government initiatives supporting sustainable practices. Countries like China, Japan, and South Korea are leading in battery production and consumption, driving demand for recycling. Additionally, growing awareness of environmental impacts and the need for resource recovery further accelerate the region's black mass recycling market growth.

Moreover, the presence of major battery manufacturers and recycling companies in the region enhances technological advancements and infrastructure development for efficient recycling processes. Favorable policies, subsidies, and strategic partnerships between public and private sectors are also contributing to market expansion. With the rising need to reduce dependency on raw material imports and ensure a stable supply of critical metals, Asia-Pacific is poised to lead the global growth in black mass recycling.

Key Questions Answered in the Report-

• What is the current revenue generated by black mass recycling globally?
• At what rate is the global black mass recycling demand projected to grow for the next 5-7 years?
• What are the historical market sizes and growth rates of the global black mass recycling market?
• What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
• Which segments in terms of type and applications are expected to create major traction for the manufacturers in this market?
• What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global black mass recycling market?
• Who are the major players in the global black mass recycling market? What are their specific product offerings in this market?
• What are the recent strategic developments in the global black mass recycling market? What are the impacts of these strategic developments on the market?

Scope of the Report:

Black Mass Recycling Market Assessment-by Battery Type

• Lithium Nickel Manganese Cobalt Oxide (NMC)
• Lithium Cobalt Oxide (LCO)
• Lithium Manganese Oxide (LMO)
• Lithium Nickel Cobalt Aluminium Oxide (NCA)
• Other Batteries

Black Mass Recycling Market Assessment-by Battery Source

• Automotive Batteries
• Consumer Electronic Batteries
• Industrial Batteries
• Other Battery Sources

Black Mass Recycling Market Assessment-by Recycling Process

• Hydrometallurgy
• Pyrometallurgy
• Other Recycling Processes

Black Mass Recyclings Market Assessment-by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa

TABLE OF CONTENTS

1 Introduction

• 1.1. Market Definition & Scope
• 1.2. Market Ecosystem
• 1.3. Currency & Limitations
• 1.4. Key Stakeholders

2 Research Methodology

• 2.1. Research Approach
• 2.2. Data Collection & Validation
  • 2.2.1. Secondary Research
  • 2.2.2. Primary Research
• 2.3. Market Assessment
  • 2.3.1. Market Size Estimation
  • 2.3.2. Bottom-Up Approach
  • 2.3.3. Top-Down Approach
  • 2.3.4. Growth Forecast
• 2.4. Assumptions for the Study

3 Executive Summary

• 3.1. Overview
• 3.2. Segmental Analysis
  • 3.2.1. Market Analysis, by Battery Type
  • 3.2.2. Market Analysis, by Battery Source
  • 3.2.3. Market Analysis, by Recycling Process
• 3.3. Regional Analysis
• 3.4. Competitive Analysis

4 Market Insights

• 4.1. Overview
• 4.2. Factors Affecting Market Growth
  • 4.2.1. Drivers
    • 4.2.1.1. Increasing Demand for Electric Vehicles
    • 4.2.1.2. Growing Need to Manage the Disposal of Used Batteries
    • 4.2.1.3. Supply Chain Security for Critical Minerals
    • 4.2.1.4. Growth in Battery Manufacturing
    • 4.2.1.5. Technological Advancements in Recycling
  • 4.2.2. Restraints
    • 4.2.2.1. Lack of Proper Recycling Infrastructure
  • 4.2.3. Opportunities
    • 4.2.3.1. Government Incentives for Battery Recycling
    • 4.2.3.2. Expansion in Emerging Markets
    • 4.2.3.3. Growing Secondary Raw Material Market
  • 4.2.4. Challenges
    • 4.2.4.1. Government Incentives for Battery Recycling
    • 4.2.4.2. Competition from Mining Sector
  • 4.2.5. Trends
    • 4.2.5.1. Rising Adoption of Hydrometallurgical Processes
    • 4.2.5.2. Development of Closed-Loop Battery Recycling Systems
• 4.3. Value Chain Analysis
• 4.4. Porter's Five Forces Analysis
  • 4.4.1. Competitive Rivalry (High)
  • 4.4.2. Threat of New Entrants (Moderate-High)
  • 4.4.3. Threat of Substitutes (Moderate)
  • 4.4.4. Bargaining Power of Buyers (High)
  • 4.4.5. Bargaining Power of Suppliers (Low-Moderate)
• 4.5. Black Mass Recycling Processes
  • 4.5.1. Pre-Treatment Methods for Waste Lithium-Ion Battery
  • 4.5.2. Lithium Extraction Technologies from Pre-Treated Waste Lithium-Ion Battery

5 Black Mass Recycling Market Assessment - by Battery Type

• 5.1. Overview
• 5.2. Lithium Nickel Manganese Cobalt Oxide (NMC)
• 5.3. Lithium Cobalt Oxide (LCO)
• 5.4. Lithium Manganese Oxide (LMO)
• 5.5. Lithium Nickel Cobalt Aluminium Oxide (NCA)
• 5.6. Other Batteries

6 Black Mass Recycling Market Assessment - by Battery Source

• 6.1. Overview
• 6.2. Automotive Batteries
• 6.3. Consumer Electronic Batteries
• 6.4. Industrial Batteries
• 6.5. Other Battery Sources

7 Black Mass Recycling Market Assessment - by Recycling Process

• 7.1. Overview
• 7.2. Hydrometallurgy
• 7.3. Pyrometallurgy
• 7.4. Other Recycling Processes

8 Black Mass Recycling Market Assessment-by Geography

• 8.1. Overview
• 8.2. North America
  • 8.2.1. U.S.
  • 8.2.2. Canada
• 8.3. Europe
  • 8.3.1. Germany
  • 8.3.2. U.K.
  • 8.3.3. France
  • 8.3.4. Italy
  • 8.3.5. Spain
  • 8.3.6. Rest of Europe
• 8.4. Asia Pacific
  • 8.4.1. China
  • 8.4.2. Japan
  • 8.4.3. India
  • 8.4.4. South Korea
  • 8.4.5. Rest of Asia-Pacific
• 8.5. Latin America
• 8.6. Middle East & Africa

9 Competitive Landscape

• 9.1. Overview
• 9.2. Key Growth Strategies
• 9.3. Competitive Benchmarking
• 9.4. Competitive Dashboard
  • 9.4.1. Industry Leaders
  • 9.4.2. Market Differentiators
  • 9.4.3. Vanguards
  • 9.4.4. Emerging Companies
• 9.5. Market Share/Position Analysis

10 Company Profiles

• 10.1. BASF SE
• 10.2. Umicore SA
• 10.3. Tenova S.p.A.
• 10.4. Li-Cycle Holdings Corp.
• 10.5. Lithion Technologies Inc.
• 10.6. AkkuSer Oy
• 10.7. Duesenfeld GmbH
• 10.8. Aqua Metals, Inc.
• 10.9. SungEel Hitech Co., Ltd.
• 10.10. Fortum Corporation
• 10.11. Redwood Materials, Inc.
• 10.12. Green Li-Ion Pte Ltd
• 10.13. Tata Chemicals Limited
• 10.14. Attero Recycling Pvt. Ltd.
• 10.15. Exigo Recycling Pvt. Ltd.

11 Appendix

• 11.1. Available Customization
• 11.2. Related Reports