THE LEADING RESEARCH REPORTS DISTRIBUTION
NETWORK

icrowd research  icrowd research  icrowd research  icrowd research  icrowd research  icrowd research  icrowd research  icrowd research icrowd research

APAC Black Mass Recycling Market is Growing at a 20.84% CAGR – BIS Research

Dec 26, 2023 6:00 PM ET

APAC Black Mass Recycling Market is Growing at a 20.84% CAGR – BIS Research

The black mass, a byproduct of battery recycling, is a crucial mixture containing lithium, nickel, cobalt, and manganese, essential metals for cathode active materials. Battery recycling is vital in resource utilization and mitigating raw material shortages. Surging electric vehicle sales, estimated by the International Energy Agency to nearly double between 2020 and 2021, increase the demand for battery and black mass recycling. Recycling black mass provides several economic and environmental advantages, significantly impacting the Asia-Pacific (APAC) market.   

The Asia-Pacific black mass recycling market (excluding China) is projected to reach $11,721.6 million by 2031 from $2,133.1 million in 2022, growing at a CAGR of 20.84% during the forecast period 2022-2031. 

 

 

Market Analysis: Trends, Data, and Growth Projections  

Lithium Iron Phosphate (LFP) batteries are gaining prominence over Nickel Manganese Cobalt (NMC) batteries, especially in commercial vehicles and energy storage systems. 

In Asia-Pacific, particularly China, it is anticipated that LFP batteries will be invested in due to their lower fire hazard and cost, with China planning over 3,000 GWh of LFP battery capacity. Additionally, the region is expected to dominate the LFP battery market by contributing 90% of global manufacturing capacity in 2030. The second life of batteries and recycling is gaining popularity, providing a low-cost method for energy storage and extending battery lifespan. The economic viability of battery reuse has the potential to reduce initial electric vehicle (EV) battery costs and create a low-cost storage market, contingent on supportive legislation ensuring ethical and sustainable practices.  

BIS Research, a leading market research firm, has released a report titled- APAC Black Mass Recycling Market, which discusses the challenges, growth factors, and future opportunities driving the remarkable growth of the Asia-Pacific black mass recycling market. 

  

 

Key Players and Market Segments 

Some major companies operating in the Asia-Pacific black mass recycling market are:    

  • RUBAMIN
  • SungEel Hi-Tech. Co., Ltd.
  • ECOGRAF
  • Green Li-ion Pte Ltd.
  • TATA Chemicals Ltd.
  • ATTERO
  • Exigo Recycling Pvt. Ltd.

 

The Asia-Pacific black mass recycling market is segmented by battery source (automotive, industrial, portable), technology (hydrometallurgy, pyrometallurgy, others), recovered metal (nickel, cobalt, lithium, copper, manganese, others), application (automotive, consumer electronics, energy, aerospace and defense, construction, others), and country (Japan, India, South Korea, Australia, Rest-of-Asia-Pacific and Japan). 

  

 

Market Drivers, Challenges, and Opportunities 

In the APAC black mass recycling market, key drivers include the exponential growth of electric vehicles, heightened consumer awareness, rising metal prices, and supportive government initiatives coupled with technological advancements. The surge in electric vehicles contributes to increased battery demand.  

Challenges encompass dealing with various battery chemistries and managing variations in raw material prices, particularly lithium and cobalt.  

Opportunities lie in the potential to generate lithium hydroxide, a valuable compound. Moreover, there’s a significant opportunity to close the loop by manufacturing batteries from recyclable materials, aligning with sustainability goals and reducing environmental impact.   

 

 

Analyst Note 

BIS principal analyst suggests: “In keeping with the rising demand for electric vehicle batteries, cobalt and lithium prices are anticipated to rise. This would have a two-sided effect. If raw material prices rise, recycled and secondary minerals become more competitive and provide economic justification for engaging in research and development (R&D) toward second-life inventions.” 

 

 

Related Reports 

Battery Manufacturing Equipment Market 

Global Lithium-Ion Battery Recycling Market 

Black Mass Recycling Market 

 

 

About BIS Research 

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.   

Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.    

BIS Research offers syndicate and custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.   

  

 

Contact 

Head of Marketing   

Email: [email protected]    

BIS Research Inc.   

39111 PASEO PADRE PKWY STE 313,   

FREMONT, CA 94538-1686   

  

 

Visit our Blog @https://bisresearch.com/insights   

Get Expert Insights @https://community.insightmonk.com    

Connect with us on LinkedIn @ https://www.linkedin.com/company/bis-research    

Connect with us on Twitter@ https://twitter.com/BISResearch    

Tags: , , , ,

See Campaign: https://bisresearch.com/industry-report/asia-pacific-black-mass-recycling-market.html

Contact Information:

Email: [email protected]



Tags:

BNN, iCN Internal Distribution, Reportedtimes, Extended Distribution, Research Newswire, English