Global Black Mass Recycling Market Size Study & Forecast, by Battery Source, Recycling Technology, Application, End-user, and Regional Forecasts 2025–2035

The Global Black Mass Recycling Market is valued at approximately USD 15.78 billion in 2024 and is poised to surge at a compelling CAGR of 19.50% over the forecast period 2025–2035. As the electrification of transportation and renewable energy storage solutions gain unprecedented traction, the critical need to extract valuable metals from spent lithium-ion batteries has never been more urgent. Black mass, a finely crushed residue rich in metals like lithium, cobalt, nickel, and manganese, represents a crucial intermediate in the battery recycling process. Its recovery not only contributes to resource efficiency and supply chain security but also plays a vital role in reducing environmental impact associated with mining virgin materials.

The dramatic rise in electric vehicle (EV) sales, alongside widespread deployment of portable electronics and industrial energy storage systems, has propelled the volume of end-of-life lithium-ion batteries globally. As OEMs and battery manufacturers scramble to secure critical raw materials, black mass recycling has emerged as a viable and strategic approach. According to the International Energy Agency, global EV stock surpassed 45 million units in 2023—a number expected to triple by 2030. The growth of hydrometallurgical and mechanical recycling technologies has made it possible to recover over 95% of critical metals, positioning black mass recycling as a cornerstone of the circular economy in battery ecosystems. Moreover, robust legislative mandates across the EU, U.S., and China are accelerating the development of closed-loop battery material recovery systems.

From a regional standpoint, North America currently commands a significant share of the market, bolstered by aggressive policy frameworks like the Inflation Reduction Act and the U.S. Department of Energy's push for domestic battery material sourcing. Europe trails closely behind, underpinned by the EU Battery Directive, which mandates stringent recycling efficiency targets and material recovery quotas. Meanwhile, Asia Pacific is forecasted to emerge as the fastest-growing regional market. Nations such as China, South Korea, and Japan are rapidly scaling their recycling infrastructure to manage mounting battery waste. China, being the largest EV producer, leads in black mass processing capacities, while India is showing promising momentum through policy incentives and joint ventures to localize battery recycling.

Major market players included in this report are:
• Schlumberger Limited
• Chevron Phillips Chemical Company
• BASF SE
• Impact Fluid Solutions
• M&D Industries Of Louisiana, Inc.
• Halliburton Company
• Croda International Plc.
• Baker Hughes Company
• Aubin Group
• Trican Well Service Ltd.
• Umicore
• Glencore
• American Battery Technology Company
• Redwood Materials Inc.
• RecycLiCo Battery Materials Inc.

Global Black Mass Recycling Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast Period – 2025–2035
• Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segments of the market are explained below:

By Battery Source:
• Lithium Nickel Manganese Cobalt (Li-NMC)
• Lithium Iron Phosphate (LFP)
• Lithium Cobalt Oxide (LCO)
• Others

By Recycling Technology:
• Hydrometallurgical
• Pyrometallurgical
• Mechanical

By Application:
• Automotive
• Consumer Electronics
• Industrial
• Energy Storage

By End-user:
• Battery Manufacturers
• Recyclers
• OEMs
• Others

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America
• Brazil
• Mexico

Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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