The Global Cobalt Powder for Car Battery Market was valued at USD 3.82 Billion in 2024 and is projected to reach USD 8.15 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 13.5% during the forecast period (2024–2030). This robust growth is fueled by the global surge in Electric Vehicle (EV) production, increasing investments in energy storage systems, and the critical role of cobalt in enhancing lithium-ion battery performance, safety, and longevity.

As the automotive industry accelerates its transition to electrification, cobalt powder has emerged as a key strategic material. Its unique properties, including high energy density and thermal stability, make it indispensable for cathode formulations in batteries powering the next generation of transportation. In this blog, we profile the Top 10 Companies in the Cobalt Powder for Car Battery Market—a group of mining giants, chemical processors, and sustainable material innovators shaping the future of energy storage.

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🔟 1. Umicore

Headquarters: Brussels, Belgium
Key Offering: High-purity Cobalt Powders, NMC Cathode Precursors

Umicore is a global materials technology and recycling group and a frontrunner in supplying advanced cobalt-based materials for the battery industry. Its cobalt powders are critical for producing high-performance NMC (Lithium Nickel Manganese Cobalt Oxide) cathodes, which dominate the EV battery market due to their balanced energy density and stability.

Sustainability & Innovation Initiatives:

• Pioneering closed-loop battery recycling to recover cobalt and other valuable metals.

• Investing in the production of ultra-high-purity cobalt salts and powders for next-generation batteries.

• Committed to carbon-neutral operations by 2035.

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9️⃣ 2. Freeport Cobalt

Headquarters: Kokkola, Finland
Key Offering: Cobalt Metal Powders, Cobalt Oxides, Cobalt Salts

Freeport Cobalt, part of the Freeport-McMoRan group, is one of the world’s leading producers of refined cobalt products. Its Kokkola refinery in Finland is a major supplier of high-purity cobalt powders and chemicals essential for the lithium-ion battery supply chain, serving cathode producers across Europe and Asia.

Sustainability & Innovation Initiatives:

• Focus on responsible sourcing from its own mining operations and third-party suppliers.

• Continuous process optimization to reduce environmental impact and enhance product purity.

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8️⃣ 3. Nanjing Hanrui Cobalt Co., Ltd.

Headquarters: Nanjing, China
Key Offering: Cobalt Powder, Cobalt Tetroxide, Cobalt Sulfate

Nanjing Hanrui Cobalt is a significant Chinese player in the cobalt industry, specializing in the deep processing of cobalt products. The company is a key domestic supplier of battery-grade cobalt materials, supporting China’s vast EV and battery manufacturing ecosystem.

Sustainability & Innovation Initiatives:

• Expanding production capacity to meet soaring domestic and international demand.

• Investing in R&D for cost-effective production of high-performance battery materials.

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7️⃣ 4. Green Eco-Manufacturer (GEM) Co., Ltd.

Headquarters: Shenzhen, China
Key Offering: Recycled Cobalt Products, NMC Precursors

GEM is a world-leading circular economy enterprise, specializing in the recovery of cobalt, nickel, and other metals from battery waste. It is a critical link in the sustainable battery supply chain, transforming end-of-life batteries into high-quality precursor materials for new ones.

Sustainability & Innovation Initiatives:

• Operating one of the largest battery recycling facilities globally.

• Strategic partnerships with major EV and battery manufacturers to create a circular supply chain.

• Promoting “urban mining” to reduce reliance on primary cobalt mining.

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6️⃣ 5. Sumitomo Metal Mining Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: High-purity Cobalt Oxide, NCA Cathode Materials

Sumitomo Metal Mining is a major Japanese integrated mining and smelting company and a leading supplier of materials for lithium-ion batteries. Its high-purity cobalt oxide is a key ingredient for cathodes, particularly in the NCA (Lithium Nickel Cobalt Aluminum Oxide) chemistry used by prominent EV manufacturers.

Sustainability & Innovation Initiatives:

• Developing cobalt-saving cathode technologies to reduce supply chain risks and costs.

• Implementing stringent quality control for battery-grade materials to ensure safety and performance.

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5️⃣ 6. Glencore

Headquarters: Baar, Switzerland
Key Offering: Cobalt Metal, Cobalt Hydroxide

Glencore is one of the world’s largest diversified natural resource companies and a top producer of cobalt, primarily from its operations in the Democratic Republic of Congo (DRC). It supplies cobalt hydroxide to refiners and cobalt metal to alloy and chemical producers, forming the base of the battery material supply chain.

Sustainability & Innovation Initiatives:

• Committing to responsible sourcing through membership in initiatives like the Responsible Minerals Initiative (RMI).

• Long-term supply agreements with major automotive and battery cell manufacturers to ensure stable supply.

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4️⃣ 7. Huayou Cobalt Co., Ltd.

Headquarters: Tongxiang, China
Key Offering: Cobalt Sulfate, Cobalt Powders, NMC Precursors

Huayou Cobalt is a global leader in the cobalt industry and one of the largest producers of cobalt chemicals. The company has a fully integrated supply chain, from mining to refining, and is a cornerstone supplier for the global lithium-ion battery market.

Sustainability & Innovation Initiatives:

• Major investments in battery recycling to complement its primary production.

• Establishing joint ventures with downstream partners to secure market share and drive innovation.

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3️⃣ 8. Jinchuan Group International Resources Co. Ltd.

Headquarters: Jinchang, China
Key Offering: Cobalt Metal, Cobalt Salts

Jinchuan Group is China’s largest producer of nickel and cobalt and a significant player in the non-ferrous metals market. The company’s cobalt products are essential raw materials for the domestic battery industry, supporting China’s position as the world’s leading EV producer.

Sustainability & Innovation Initiatives:

• Expanding and modernizing refining capabilities to produce higher-value battery-grade materials.

• Focusing on environmental, social, and governance (ESG) standards in its supply chain.

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2️⃣ 9. Sherritt International Corporation

Headquarters: Toronto, Canada
Key Offering: Cobalt Metal Briquettes, Powders, and Finished Salts

Sherritt International is a world leader in the mining and refining of nickel and cobalt from lateritic ores. Its Moa joint venture in Cuba and refinery in Canada produce high-purity cobalt that is sold to chemical, metallurgical, and battery markets worldwide.

Sustainability & Innovation Initiatives:

• Exploring hydrometallurgical processing technologies to improve recovery rates and efficiency.

• Engaging in community development programs in the regions where it operates.

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1️⃣ 10. ERG (Eurasian Resources Group)

Headquarters: Luxembourg, Luxembourg
Key Offering: Cobalt Hydroxide, Cobalt Metal

ERG is a leading diversified natural resources group with cobalt production primarily from its Metalkol Roan Tailings Reclamation (RTR) project in the DRC. This project reprocesses historical tailings, making it a source of cobalt with a potentially lower environmental footprint.

Sustainability & Innovation Initiatives:

• The Metalkol RTR project is positioned as one of the world’s largest cobalt producers with a focus on tailings remediation.

• Strong commitment to transparency and sustainability through its membership in the Global Battery Alliance.

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🌍 Outlook: The Future of Cobalt Powder is Sustainable and Strategic

The cobalt powder market is at a pivotal juncture. While demand is skyrocketing due to the EV revolution, the industry is grappling with supply chain volatility, geopolitical concerns, and intense pressure to improve sustainability.

📈 Key Trends Shaping the Market:

• Cobalt Reduction & Alternative Chemistries: Intense R&D into low-cobalt and cobalt-free batteries (e.g., LFP – Lithium Iron Phosphate) to mitigate supply risks and cost.

• Circular Economy Acceleration: Rapid scaling of battery recycling infrastructure to create a secondary source of cobalt and reduce environmental impact.

• Supply Chain Diversification: Efforts by North American and European automakers to develop supply chains outside of dominant regions, fostering new mining and processing projects.

• Enhanced Traceability: Implementation of blockchain and other technologies to ensure cobalt is sourced responsibly and ethically.

The companies listed above are not only supplying a critical battery component—they are actively navigating the complex challenges of sustainability, ethics, and innovation to power the clean energy transition.

Get Full Report Here:
Cobalt Powder for Car Battery Market – View in Detailed Research Report