크리티컬 매트리얼 회수 시장(2027-2047년)

The critical raw materials recovery market enters 2026 defined less by price than by policy and consolidation. The decisive shift of the period was the conversion of "supply-chain security" from rhetoric into industrial policy. After China demonstrated its leverage through 2024–2025 export controls on gallium, germanium, graphite and rare-earth magnets - disruptions severe enough to halt at least one automaker's production line - Western governments responded with hard instruments. The United States launched Project Vault, a $10 billion-backed strategic minerals reserve covering all 60 USGS-listed critical minerals, and convened a 54-nation Critical Minerals Ministerial that produced FORGE, a friend-shoring framework proposing enforceable reference-price floors to counter Chinese below-market competition. The European Union advanced its Critical Raw Materials Act into implementation, with the FutuRaM project quantifying an "urban mine" capable of supplying up to 56% of the bloc's primary-material needs by 2050. Recovery is now framed as strategic infrastructure for defense, AI and robotics supply chains - not an ESG add-on.

Against this supportive policy backdrop, the commercial reality was brutal. Battery-metal prices bottomed in 2025 - battery-grade lithium carbonate fell to roughly $12/kg before rebounding to around $24/kg by mid-2026 - and the trough triggered a wave of insolvencies that reshaped the competitive field. Ascend Elements filed for Chapter 11, Li-Cycle was acquired by Glencore out of bankruptcy, Lithion Technologies entered creditor protection, and European cell and refining ventures Northvolt, Morrow Batteries and Viridian Lithium failed. The survivors share clear traits: integrated offtake, captive feedstock, government backing, or distinctive low-cost technology.

Activity has consequently bifurcated. Battery recycling remains dominated by China, where CATL's Brunp processed over 200,000 tonnes in 2025 and targets one million tonnes annually by 2030. In the West, momentum has shifted toward rare-earth and magnet recovery - Cyclic Materials, HyProMag, Carester/Caremag and Paladin all advanced funded, friend-shored projects - alongside rare-earth-free magnet substitution led by Niron Magnetics. Meanwhile, the EV end-of-life wave that builds sharply after 2030 guarantees the largest secondary feedstock stream in history. The market's trajectory therefore hinges on a single dynamic: whether stockpile demand and price floors can stabilise recovered-material economics enough to outlast spot-price volatility. The forecasts in this report assume they increasingly can, lifting recovered-material value toward roughly $250 billion by 2047.

The Global Critical Materials Recovery Market 2027–2047 is a comprehensive, two-decade analysis of how the world will recover critical and strategic raw materials from secondary sources - end-of-life products, manufacturing scrap and industrial waste - as supply-chain security becomes the defining force in the global minerals economy. The report opens against a transformed backdrop. Following China's 2024–2025 export controls on gallium, germanium, graphite and rare-earth magnets, recovery has shifted from an environmental activity to a strategic imperative. New instruments - the United States' Project Vault strategic reserve, the 54-nation FORGE friend-shoring framework, the EU Critical Raw Materials Act, and a wave of government-backed processing finance - are reshaping the economics of recycling. At the same time, a sharp 2025 battery-metal price trough triggered a wave of recycler insolvencies, accelerating consolidation toward integrated, policy-backed players.

This report quantifies the opportunity through detailed 2027–2047 forecasts by material, recovery source and region, and evaluates the technologies, business models and companies positioned to capture it across rare earths and magnets, lithium-ion batteries, semiconductors and platinum group metals.

Report content includes:

• 20-year market forecasts (2027–2047) by material, recovery source and region - in both tonnes and value (USD)
• Supply-chain-security analysis: Project Vault, FORGE, the 54-nation framework, export controls and price-floor mechanisms
• Critical material extraction technologies - hydrometallurgy, pyrometallurgy, biometallurgy, ionic liquids/deep eutectic solvents, electrochemical and supercritical methods - with TRL and value-proposition assessments
• Critical material recovery technologies - solvent extraction, ion exchange, precipitation, biosorption, electrowinning and direct recovery
• Rare-earth element and permanent-magnet recovery, including long-loop and short-loop recycling and rare-earth-free magnet substitution
• Li-ion battery recycling: chemistries, black mass, economics, EV end-of-life scrappage forecasts, capacity, regulations and the 2025–2026 industry shakeout
• Critical semiconductor recovery from e-waste and photovoltaics
• Platinum group metal recovery from autocatalysts, fuel cells and electrolysers
• Pricing trends, market drivers, restraints, and technology-readiness evaluations
• Profiles of 164 companies across the recovery value chain. Companies profiled include Accurec Recycling GmbH, ACE Green Recycling, Altilium, American Battery Technology Company (ABTC), Anhua Taisen, Aqua Metals, Ascend Elements, Attero, BacTech Environmental, Ballard Power Systems, BANIQL, BASF, Battery Pollution Technologies, Batx Energies, Berkeley Energia, BHP, BMW, Botree Cycling, Brazilian Nickel, Carester, Ceibo, Cheetah Resources, CATL, Cirba Solutions, Circunomics, Circular Industries, Cyclic Materials, Cylib, DEScycle, Dowa Eco-System, Dow Chemicals, Dundee Sustainable Technologies, DuPont, EcoBat, eCobalt Solutions, Econili Battery, EcoPro, Electra Battery Materials, Electramet, Elmery, Elemental Group, Element Zero, Emulsion Flow Technologies, Enim, EnviroMetal Technologies, Eramet, ExPost Technology, Farasis Energy, First Solar, Fortum, 4R Energy, Freeport-McMoRan, Fluor, FLSmidth, Ganfeng Lithium, Ganzhou Cyclewell, GEM, GLC Recycle, Glencore, Gotion, GREEN14, Green Li-ion, Green Mineral, GS Group, Guangdong Guanghua Sci-Tech, Huayou Cobalt, Henkel, Heraeus, HydroVolt, HyProMag, InoBat, Inmetco, Jiecheng New Energy, JPM Silicon, JX Nippon Metal Mining, Keyking Recycling, Korea Zinc, Kyoei Seiko, Igneo, IXOM, Jalle Technologies, Jervois Global, Jetti Resources, Kemira Oyj, Librec, Lithium Australia, LG Chem, Li Industries, LICO Materials, Lithion Technologies, Litus Inc., Lohum, MagREEsource, Mecaware, Metastable Materials, Metso, Minerva Lithium, MIRARCO, Mitsubishi Materials, Neometals, NEU Battery Materials, Nickelhutte Aue, NioCorp Developments, Niron Magnetics, Nordic Salt Cycle, Nouryon and more......

The report serves recyclers, miners, OEMs, battery and magnet manufacturers, investors and policymakers seeking to understand where secondary-supply value will be created over the next two decades - and which technologies, regions and companies will lead.

Table of Contents

1 EXECUTIVE SUMMARY

• 1.1 Definition and Importance of Critical Raw Materials
• 1.2 E-Waste as a Source of Critical Raw Materials
• 1.3 Electrification, Renewable and Clean Technologies
• 1.4 Regulatory Landscape
  • 1.4.1 European Union
  • 1.4.2 United States
  • 1.4.3 China
  • 1.4.4 Japan
  • 1.4.5 Australia
  • 1.4.6 Canada
  • 1.4.7 India
  • 1.4.8 South Korea
  • 1.4.9 Brazil
  • 1.4.10 Russia
  • 1.4.11 Global Initiatives
• 1.5 Key Market Drivers and Restraints
• 1.6 The Global Critical Raw Materials Market in
• 1.7 Critical Material Extraction Technology
  • 1.7.1 Recovery of critical materials from secondary sources (e.g., end-of-life products, industrial waste)
  • 1.7.2 Critical rare-earth element recovery from secondary sources
  • 1.7.3 Li-ion battery technology metal recovery
  • 1.7.4 Critical semiconductor materials recovery
  • 1.7.5 Critical platinum group metal recovery
• 1.8 Critical Raw Materials Value Chain
• 1.9 The Economic Case for Critical Raw Materials Recovery
• 1.10 Price Trends for Key Recovered Materials (2020-2026)
• 1.11 Global market forecasts
  • 1.11.1 By Material Type (2025-2047)
  • 1.11.2 By Recovery Source (2025-2047)
  • 1.11.3 By Region (2025-2047)
• 1.12 The 2025–2026 recycler shakeout

2 INTRODUCTION

• 2.1 Critical Raw Materials
• 2.2 Global situation in supply and trade
  • 2.2.1 From diversification rhetoric to industrial-policy execution
  • 2.2.2 Project Vault: a demand backstop that resets recovery economics
  • 2.2.3 The 54-nation framework: friend-shoring and enforced price floors
  • 2.2.4 Substitution as the second hedge: rare-earth-free magnets
  • 2.2.5 Recovery reframed: strategic infrastructure, not ESG compliance
• 2.3 Circular economy
  • 2.3.1 Circular use of critical raw materials
• 2.4 Critical and strategic raw materials used in the energy transition
  • 2.4.1 Greening critical metals
• 2.5 Metals and minerals processed and extracted
  • 2.5.1 Copper
    • 2.5.1.1 Global copper demand and trends
    • 2.5.1.2 Markets and applications
    • 2.5.1.3 Copper extraction and recovery
  • 2.5.2 Nickel
    • 2.5.2.1 Global nickel demand and trends
    • 2.5.2.2 Markets and applications
    • 2.5.2.3 Nickel extraction and recovery
  • 2.5.3 Cobalt
    • 2.5.3.1 Global cobalt demand and trends
    • 2.5.3.2 Markets and applications
    • 2.5.3.3 Cobalt extraction and recovery
  • 2.5.4 Rare Earth Elements (REE)
    • 2.5.4.1 Global Rare Earth Elements demand and trends
    • 2.5.4.2 Markets and applications
    • 2.5.4.3 Rare Earth Elements extraction and recovery
    • 2.5.4.4 Recovery of REEs from secondary resources
  • 2.5.5 Lithium
    • 2.5.5.1 Global lithium demand and trends
    • 2.5.5.2 Markets and applications
    • 2.5.5.3 Lithium extraction and recovery
  • 2.5.6 Gold
    • 2.5.6.1 Global gold demand and trends
    • 2.5.6.2 Markets and applications
    • 2.5.6.3 Gold extraction and recovery
  • 2.5.7 Uranium
    • 2.5.7.1 Global uranium demand and trends
    • 2.5.7.2 Markets and applications
    • 2.5.7.3 Uranium extraction and recovery
  • 2.5.8 Zinc
    • 2.5.8.1 Global Zinc demand and trends
    • 2.5.8.2 Markets and applications
    • 2.5.8.3 Zinc extraction and recovery
  • 2.5.9 Manganese
    • 2.5.9.1 Global manganese demand and trends
    • 2.5.9.2 Markets and applications
    • 2.5.9.3 Manganese extraction and recovery
  • 2.5.10 Tantalum
    • 2.5.10.1 Global tantalum demand and trends
    • 2.5.10.2 Markets and applications
    • 2.5.10.3 Tantalum extraction and recovery
  • 2.5.11 Niobium
    • 2.5.11.1 Global niobium demand and trends
    • 2.5.11.2 Markets and applications
    • 2.5.11.3 Niobium extraction and recovery
  • 2.5.12 Indium
    • 2.5.12.1 Global indium demand and trends
    • 2.5.12.2 Markets and applications
    • 2.5.12.3 Indium extraction and recovery
  • 2.5.13 Gallium
    • 2.5.13.1 Global gallium demand and trends
    • 2.5.13.2 Markets and applications
    • 2.5.13.3 Gallium extraction and recovery
  • 2.5.14 Germanium
    • 2.5.14.1 Global germanium demand and trends
    • 2.5.14.2 Markets and applications
    • 2.5.14.3 Germanium extraction and recovery
  • 2.5.15 Antimony
    • 2.5.15.1 Global antimony demand and trends
    • 2.5.15.2 Markets and applications
    • 2.5.15.3 Antimony extraction and recovery
  • 2.5.16 Scandium
    • 2.5.16.1 Global scandium demand and trends
    • 2.5.16.2 Markets and applications
    • 2.5.16.3 Scandium extraction and recovery
  • 2.5.17 Graphite
    • 2.5.17.1 Global graphite demand and trends
    • 2.5.17.2 Markets and applications
    • 2.5.17.3 Graphite extraction and recovery
• 2.6 Recovery sources
  • 2.6.1 Primary sources
  • 2.6.2 Secondary sources
    • 2.6.2.1 Extraction
      • 2.6.2.1.1 Hydrometallurgical extraction
        • 2.6.2.1.1.1 Overview
        • 2.6.2.1.1.2 Lixiviants
        • 2.6.2.1.1.3 SWOT analysis
      • 2.6.2.1.2 Pyrometallurgical extraction
        • 2.6.2.1.2.1 Overview
        • 2.6.2.1.2.2 SWOT analysis
      • 2.6.2.1.3 Biometallurgy
        • 2.6.2.1.3.1 Overview
        • 2.6.2.1.3.2 SWOT analysis
      • 2.6.2.1.4 Ionic liquids and deep eutectic solvents
        • 2.6.2.1.4.1 Overview
        • 2.6.2.1.4.2 SWOT analysis
      • 2.6.2.1.5 Electroleaching extraction
        • 2.6.2.1.5.1 Overview
        • 2.6.2.1.5.2 SWOT analysis
      • 2.6.2.1.6 Supercritical fluid extraction
        • 2.6.2.1.6.1 Overview
        • 2.6.2.1.6.2 SWOT analysis
    • 2.6.2.2 Recovery
      • 2.6.2.2.1 Solvent extraction
        • 2.6.2.2.1.1 Overview
        • 2.6.2.2.1.2 Rare-Earth Element Recovery
        • 2.6.2.2.1.3 SWOT analysis
      • 2.6.2.2.2 Ion exchange recovery
        • 2.6.2.2.2.1 Overview
        • 2.6.2.2.2.2 SWOT analysis
      • 2.6.2.2.3 Ionic liquid (IL) and deep eutectic solvent (DES) recovery
        • 2.6.2.2.3.1 Overview
        • 2.6.2.2.3.2 SWOT analysis
      • 2.6.2.2.4 Precipitation
        • 2.6.2.2.4.1 Overview
        • 2.6.2.2.4.2 Coagulation and flocculation
        • 2.6.2.2.4.3 SWOT analysis
      • 2.6.2.2.5 Biosorption
        • 2.6.2.2.5.1 Overview
        • 2.6.2.2.5.2 SWOT analysis
      • 2.6.2.2.6 Electrowinning
        • 2.6.2.2.6.1 Overview
        • 2.6.2.2.6.2 SWOT analysis
      • 2.6.2.2.7 Direct materials recovery
        • 2.6.2.2.7.1 Overview
        • 2.6.2.2.7.2 Rare-earth Oxide (REO) Processing Using Molten Salt Electrolysis
        • 2.6.2.2.7.3 Rare-earth Magnet Recycling by Hydrogen Decrepitation
        • 2.6.2.2.7.4 Direct Recycling of Li-ion Battery Cathodes by Sintering
        • 2.6.2.2.7.5 SWOT analysis

3 CRITICAL RAW MATERIALS RECOVERY IN SEMICONDUCTORS

• 3.1 Critical semiconductor materials
• 3.2 Electronic waste (e-waste)
  • 3.2.1 Types of Critical Raw Materials found in E-Waste
  • 3.2.2 AI-enabled recovery: the DOE–Amazon collaboration
• 3.3 Photovoltaic and solar technologies
  • 3.3.1 Common types of PV panels and their critical semiconductor components
  • 3.3.2 Silicon Recovery Technology for Crystalline-Si PVs
  • 3.3.3 Tellurium Recovery from CdTe Thin-Film Photovoltaics
  • 3.3.4 Solar Panel Manufacturers and Recovery Rates
• 3.4 Concentration and value of Critical Raw Materials in E-Waste
• 3.5 Applications and Importance of Key Critical Raw Materials
• 3.6 Waste Recycling and Recovery Processes
• 3.7 Collection and Sorting Infrastructure
• 3.8 Pre-Processing Technologies
• 3.9 Metal Recovery Technologies
  • 3.9.1 Pyrometallurgy
  • 3.9.2 Hydrometallurgy
  • 3.9.3 Biometallurgy
  • 3.9.4 Supercritical Fluid Extraction
  • 3.9.5 Electrokinetic Separation
  • 3.9.6 Mechanochemical Processing
• 3.10 Global market 2025-2047
  • 3.10.1 Ktonnes
  • 3.10.2 Revenues
  • 3.10.3 Regional

4 CRITICAL RAW MATERIALS RECOVERY IN LI-ION BATTERIES

• 4.1 Critical Li-ion Battery Metals
• 4.2 Critical Li-ion Battery Technology Metal Recovery
• 4.3 Lithium-Ion Battery recycling value chain
• 4.4 Black mass powder
• 4.5 Recycling different cathode chemistries
• 4.6 Preparation
• 4.7 Pre-Treatment
  • 4.7.1 Discharging
  • 4.7.2 Mechanical Pre-Treatment
  • 4.7.3 Thermal Pre-Treatment
• 4.8 Comparison of recycling techniques
• 4.9 Hydrometallurgy
  • 4.9.1 Method overview
    • 4.9.1.1 Solvent extraction
  • 4.9.2 SWOT analysis
• 4.10 Pyrometallurgy
  • 4.10.1 Method overview
  • 4.10.2 SWOT analysis
• 4.11 Direct recycling
  • 4.11.1 Method overview
    • 4.11.1.1 Electrolyte separation
    • 4.11.1.2 Separating cathode and anode materials
    • 4.11.1.3 Binder removal
    • 4.11.1.4 Relithiation
    • 4.11.1.5 Cathode recovery and rejuvenation
    • 4.11.1.6 Hydrometallurgical-direct hybrid recycling
  • 4.11.2 SWOT analysis
• 4.12 Other methods
  • 4.12.1 Mechanochemical Pretreatment
  • 4.12.2 Electrochemical Method
  • 4.12.3 Ionic Liquids
• 4.13 Recycling of Specific Components
  • 4.13.1 Anode (Graphite)
  • 4.13.2 Cathode
  • 4.13.3 Electrolyte
• 4.14 Recycling of Beyond Li-ion Batteries
  • 4.14.1 Conventional vs Emerging Processes
  • 4.14.2 Li-Metal batteries
  • 4.14.3 Lithium sulfur batteries (Li–S)
  • 4.14.4 All-solid-state batteries (ASSBs)
• 4.15 Economic case for Li-ion battery recycling
  • 4.15.1 Onshoring the battery loop
  • 4.15.2 Metal prices
  • 4.15.3 Second-life energy storage
  • 4.15.4 LFP batteries
  • 4.15.5 Other components and materials
  • 4.15.6 Reducing costs
• 4.16 Competitive landscape
• 4.17 Global capacities, current and planned
• 4.18 Future outlook
• 4.19 Global market 2025-2047
  • 4.19.1 Chemistry
  • 4.19.2 Ktonnes
  • 4.19.3 Revenues
  • 4.19.4 Regional

5 CRITICAL RARE-EARTH ELEMENT RECOVERY

• 5.1 Introduction
• 5.2 Permanent magnet applications
• 5.3 Recovery technologies
  • 5.3.1 Long-loop and short-loop recovery methods
  • 5.3.2 Hydrogen decrepitation
  • 5.3.3 Powder metallurgy (PM)
  • 5.3.4 Long-loop magnet recycling
  • 5.3.5 Solvent Extraction
  • 5.3.6 Ion Exchange Resin Chromatography
  • 5.3.7 Electrolysis and Metallothermic Reduction
• 5.4 Markets
  • 5.4.1 Rare-earth magnet market
    • 5.4.1.1 Substitution: rare-earth-free magnets as a parallel hedge
  • 5.4.2 Rare-earth magnet recovery technology
  • 5.4.3 Distributed domestic recovery
• 5.5 Global market 2025-2047
  • 5.5.1 Ktonnes
  • 5.5.2 Revenues

6 CRITICAL PLATINUM GROUP METAL RECOVERY

• 6.1 Introduction
• 6.2 Supply chain
• 6.3 Prices
• 6.4 PGM Recovery
• 6.5 PGM recovery from spent automotive catalysts
• 6.6 PGM recovery from hydrogen electrolyzers and fuel cells
  • 6.6.1 Green hydrogen market
  • 6.6.2 PGM recovery from hydrogen-related technologies
  • 6.6.3 Catalyst Coated Membranes (CCMs)
  • 6.6.4 Fuel cell catalysts
  • 6.6.5 Emerging technologies
    • 6.6.5.1 Microwave-assisted Leaching
    • 6.6.5.2 Supercritical Fluid Extraction
    • 6.6.5.3 Bioleaching
    • 6.6.5.4 Electrochemical Recovery
    • 6.6.5.5 Membrane Separation
    • 6.6.5.6 Ionic Liquids
    • 6.6.5.7 Photocatalytic Recovery
  • 6.6.6 Sustainability of the hydrogen economy
• 6.7 Markets
• 6.8 Global market 2025-2047
  • 6.8.1 Ktonnes
  • 6.8.2 Revenues

7 COMPANY PROFILES 227 (159 company profiles)

8 APPENDICES

• 8.1 Research Methodology
• 8.2 Glossary of Terms
• 8.3 List of Abbreviations

9 REFERENCES