Meticulous Research®, a leading global market research company, has released its latest report, “Black Mass Recycling Market by Battery Source (Automotive Batteries, Industrial Batteries), Battery Type (Li-ion Battery, Nickel–metal Hydride Battery), Recycling Process (Pyrometallurgical Process, Hydrometallurgical Process) – Global Forecast to 2030.” According to the report, the market is expected to reach $8.87 billion by 2030, growing at a CAGR of 19.1%.
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Market Drivers and Opportunities
The black mass recycling market is experiencing robust growth due to several factors:
• Government initiatives and technological advancements to enhance battery recycling processes.
• A rising need to manage used battery disposal, addressing environmental concerns.
• Expansion in battery manufacturing, particularly for electric vehicles and portable electronics.
• Government incentives that promote battery recycling and material recovery.
However, challenges like inadequate recycling infrastructure and fluctuating raw material prices persist. Nevertheless, advancements in recycling technologies and growing investments in lithium-ion battery recycling present promising growth opportunities.