Asia-Pacific Black Mass Recycling Market Report 2022-2023 and Forecasts to 2031: Significant Influx of New Rivals to Enter the Market, Intensifying Rivalry and Competition [Yahoo! Finance]
UMICORE SA UNSP/ADR (UMICY)
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Source: Yahoo! Finance
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. Market Introduction Black mass recycling offers numerous economic and environmental benefits, which have a significant impact on the sector in the Asia-Pac
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