Dublin, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The "Asia-Pacific Black Mass Recycling Market - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific black mass recycling market (excluding China) is projected to reach $11.72 billion by 2031 from $2.13 billion in 2022, growing at a CAGR of 20.84% during the forecast period 2022-2031.
Reprocessing and recovering vital metals from drained lithium-ion batteries is the focus of the rapidly growing black mass recycling market. As electric vehicles gain popularity, the market for these batteries is expected to grow significantly, which will also drive the growth of the black mass market for recycling. The market for black mass recycling is also dominated by a select group of major companies, such as Umicore, BASF SE, Tenova S.p.A., and many more. However, a significant influx of new rivals is predicted to enter the market in the next years, intensifying rivalry and promoting further development and innovation.
Black mass recycling offers numerous economic and environmental benefits, which have a significant impact on the sector in the Asia-Pacific (APAC) market. Furthermore, the multitude of advantages it offers - including increased productivity, lower expenses, and a dependable supply of vital metals - have a substantial influence on a number of end-use industries.
The increasing adoption of lithium-ion batteries in end-use industries, along with a growing global emphasis on circular economy principles and advancements in recycling technologies aimed at recovering high-performance metals, are driving up demand for black mass powder. Important regions including China, Asia-Pacific, Japan, and Europe are experiencing a marked shift in demand, particularly in the energy and automobile industries.
Key Market Dynamics
Business Drivers
- Exponential Increase in Electric Vehicles and Consumer Awareness
- Rising Metal Prices
- Government Initiatives with Technological Advancements
Business Challenges
- Broad Array of Battery Chemistries
- Variations in the Prices of Battery Raw Materials (Lithium and Cobalt)
Market Segmentation
Segmentation by Battery Source
- Automotive Batteries
- Industrial Batteries
- Portable Batteries
Segmentation by Technology
- Hydrometallurgy
- Pyrometallurgy
Segmentation by Recovered Metal
- Nickel
- Cobalt
- Lithium
- Copper
- Manganese
Segmentation by Application
- Automotive
- Consumer Electronics
- Energy
- Aerospace and Defense
- Construction
Segmentation by Country
- Japan
- India
- South Korea
- Australia
- Rest-of-Asia-Pacific and Japan
Key Market Players and Competition Synopsis
Some of the prominent names established in this market are:
- RUBAMIN
- SungEel Hi-Tech. Co., Ltd.
- ECOGRAF
- Green Li-ion Pte Ltd.
- TATA Chemicals Ltd.
- ATTERO
- Exigo Recycling Pvt. Ltd.
Key Questions Answered in the Report
- What are the major market drivers, challenges, and opportunities in the Asia-Pacific black mass recycling market?
- Which is the leading segment in the technology and application in the market, and how are they going to perform during the forecast period?
- What are the steps taken by the existing players to improve/maintain their market positioning and the strategy adopted by new players entering in market space?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 107 |
| Forecast Period | 2022 - 2031 |
| Estimated Market Value (USD) in 2022 | $2.13 Billion |
| Forecasted Market Value (USD) by 2031 | $11.72 Billion |
| Compound Annual Growth Rate | 20.8% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
1. Markets
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Lithium Iron Phosphate (LFP) Batteries to Gain Traction over Nickel Manganese Cobalt (NMC) Batteries
1.1.1.2 Second Life of Batteries and Recycling
1.1.2 Supply Chain Analysis
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory Bodies
1.1.3.3 Government Programs
1.1.3.4 Programs by Research Institutions and Universities
1.1.4 Impact of COVID-19 on the Black Mass Recycling Market
1.1.5 Impact of Russia-Ukraine War on Black Mass Recycling Market
1.1.6 Analysis of Circular Economy in Battery Lifecycle
1.1.7 Snapshot of Lithium-Ion Battery Recycling Market
1.1.8 Snapshot of Battery Manufacturing Equipment Market
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Exponential Increase in Electric Vehicles and Consumer Awareness
1.2.1.2 Rising Metal Prices
1.2.1.3 Government Initiatives with Technological Advancements
1.2.2 Business Challenges
1.2.2.1 Broad Array of Battery Chemistries
1.2.2.2 Variations in the Prices of Battery Raw Materials (Lithium and Cobalt)
1.2.3 Business Strategies
1.2.3.1 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Partnerships, Collaborations, and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Generating Lithium Hydroxide
1.2.5.2 Closing the Loop, i.e., Making Batteries from Recyclable Materials
1.3 Start-up Landscape
2. Region
3. Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.2 Company Profiles
- RUBAMIN
- SungEel Hi-Tech. Co., Ltd.
- ECOGRAF
- Green Li-ion Pte Ltd.
- TATA Chemicals Ltd.
- ATTERO
- Exigo Recycling Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/4dq48h
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