The Global Electrowinning Cobalt Market was valued at US$ 1,232 Million in 2025 and is projected to reach US$ 1,982 Million by 2034, growing at a Compound Annual Growth Rate (CAGR) of 7.3% during the forecast period (2024–2034). This robust growth is primarily driven by the soaring demand for cobalt in lithium-ion batteries for electric vehicles (EVs), the expansion of the aerospace and superalloy industries, and stringent requirements for high-purity metals in advanced technological applications.

As the global transition to clean energy and advanced electronics accelerates, the importance of a secure and efficient cobalt supply chain becomes paramount. Electrowinning, an electrolytic process for producing high-purity metallic cobalt, is at the heart of this supply chain. In this blog, we profile the Top 10 Companies in the Electrowinning Cobalt Industry—a group of mining giants, specialized refiners, and chemical leaders shaping the future of this critical material.

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🔟 1. GEM Co., Ltd.

Headquarters: Shenzhen, Guangdong, China
Key Offering: High-purity Electrowon Cobalt, Battery-Grade Cobalt Salts

GEM is a global leader in the circular economy of metals, particularly in the battery materials sector. The company is one of the world’s largest producers of cobalt chemicals and has significant electrowinning capacity to produce metallic cobalt, which is critical for its cathode precursor materials used in EV batteries.

Sustainability and Innovation Initiatives:

• Pioneering urban mining and recycling of spent lithium-ion batteries to recover cobalt

• Major investments in green and efficient hydrometallurgical processes for cobalt refining

• Strategic partnerships with global automakers and battery cell manufacturers

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9️⃣ 2. Jinchuan Group International Resources Co. Ltd.

Headquarters: Jinchang, Gansu, China
Key Offering: Electrolytic Cobalt, Cobalt Briquettes, Cobalt Salts

Jinchuan Group is one of China’s largest nickel and cobalt producers, with integrated mining, smelting, and refining operations. Its electrowinning facilities produce high-purity cobalt metal that serves diverse industrial sectors, from batteries to superalloys.

Sustainability and Innovation Initiatives:

• Vertical integration from mine to high-purity metal ensures supply chain stability

• Continuous R&D to improve the energy efficiency of its electrowinning processes

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8️⃣ 3. Sumitomo Metal Mining Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: SMM Electrolytic Cobalt, Battery Materials

Sumitomo Metal Mining (SMM) is a key Japanese player with advanced metallurgical expertise. The company produces high-purity electrolytic cobalt used extensively in the Japanese battery and electronics industries, leveraging its technical prowess to meet stringent quality standards.

Sustainability and Innovation Initiatives:

• Focus on producing ultra-high-purity cobalt for premium battery applications

• Active in developing sustainable sourcing and closed-loop recycling systems

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7️⃣ 4. MMC Norilsk Nickel (Nornickel)

Headquarters: Moscow, Russia
Key Offering: Electrolytic Cobalt, Nickel Cathodes (a primary source of cobalt co-production)

Nornickel is one of the world’s largest producers of nickel and palladium and a significant cobalt producer. Cobalt is primarily recovered as a by-product of its nickel mining operations, which is then refined into high-purity metal through electrowinning.

Sustainability and Innovation Initiatives:

• Major environmental modernization program to reduce sulphur dioxide emissions from its operations

• Exploring new hydrometallurgical routes for more efficient cobalt recovery

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6️⃣ 5. Hanrui Cobalt Co., Ltd.

Headquarters: Nanjing, Jiangsu, China
Key Offering: Electrowon Cobalt, Cobalt Sulfate, Cobalt Oxide

Hanrui Cobalt is a specialized cobalt producer focused on the mid-stream and down-stream segments of the value chain. The company has built a strong reputation for its electrowinning capabilities, supplying cobalt metal to both domestic and international markets.

Sustainability and Innovation Initiatives:

• Strategic focus on the high-growth battery materials sector

• Investments in advanced purification technologies to enhance product quality

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5️⃣ 6. Zhejiang Huayou Cobalt Co., Ltd.

Headquarters: Tongxiang, Zhejiang, China
Key Offering: Electrolytic Cobalt, Cobalt Salts, Precursor Materials

Huayou Cobalt is a global powerhouse in the cobalt industry, with a massive integrated supply chain that spans from cobalt resource investment in the Democratic Republic of Congo (DRC) to advanced refining in China. Its electrowinning operations are a critical part of its strategy to produce high-value cobalt products.

Sustainability and Innovation Initiatives:

• Industry-leading scale and vertical integration provide significant cost advantages

• Committed to responsible sourcing and improving transparency in its supply chain

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4️⃣ 7. Yantai CASH Industrial Co., Ltd.

Headquarters: Yantai, Shandong, China
Key Offering: High-Purity Electrowon Cobalt, Cobalt Powder

Yantai CASH Industrial is a prominent manufacturer of cobalt metal and powder products. The company utilizes advanced electrowinning technology to produce cobalt with purities exceeding 99.8%, catering to demanding applications in hard metals, catalysts, and batteries.

Sustainability and Innovation Initiatives:

• Specialization in high-value cobalt powder products for niche markets

• Continuous process optimization to reduce energy consumption in electrolysis

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3️⃣ 8. Umicore

Headquarters: Brussels, Belgium
Key Offering: Specialty Cobalt-based Materials, Battery Cathode Materials, Recycled Cobalt

Umicore is a global materials technology and recycling group. While its focus is on value-added cobalt chemicals and cathode materials, its expertise in recycling end-of-life products positions it as a key player in the circular economy for cobalt, which involves hydrometallurgical processing akin to electrowinning.

Sustainability and Innovation Initiatives:

• World leader in closed-loop recycling of rechargeable battery materials

• Strong commitment to sustainable sourcing and carbon-neutral operations by 2035

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2️⃣ 9. Guangxi Yinyi Advanced Material Co., Ltd.

Headquarters: Beihai, Guangxi, China
Key Offering: Electrolytic Cobalt, Nickel-Cobalt Alloys

Guangxi Yinyi is an important producer of nickel and cobalt-based advanced materials. The company’s electrowinning capabilities support its production of pure cobalt and cobalt-containing alloys, serving sectors like aerospace and military.

Sustainability and Innovation Initiatives:

• Investment in expanding production capacity to meet growing demand

• Focus on developing specialized alloy products for high-performance applications

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1️⃣ 10. Glencore plc

Headquarters: Baar, Switzerland
Key Offering: Cobalt Metal, Cobalt Hydroxide (Intermediate Product)

Glencore is the world’s largest cobalt miner, with major assets in the DRC, such as the Mutanda and Katanga mines. While it primarily sells cobalt hydroxide to refiners, its position as the dominant upstream supplier fundamentally shapes the global electrowinning cobalt market, as its material is the primary feed for numerous electrowinning operations worldwide.

Sustainability and Innovation Initiatives:

• Implementation of the Cobalt Refinery Supply Chain Due Diligence Standard

• Active participation in industry initiatives like the Responsible Minerals Initiative (RMI)

Get Full Report Here: Electrowinning Cobalt Market – View in Detailed Research Report

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🌍 Outlook: The Future of Electrowinning Cobalt is Sustainable and Efficient

The electrowinning cobalt market is undergoing a significant transformation. While traditional production methods remain essential, the industry is increasingly focused on sustainability, digitalization, and supply chain transparency to meet the demands of a decarbonizing global economy.

📈 Key Trends Shaping the Market:

• Rising Demand from the EV Sector: The exponential growth of the electric vehicle market is the single biggest driver, demanding high-purity cobalt for lithium-ion battery cathodes.

• Supply Chain Diversification: Efforts to reduce reliance on a single geographic region (the DRC) are leading to investments in new mining and refining projects outside of Africa.

• Emphasis on Recycling: Urban mining and recycling of batteries are becoming critical secondary sources of cobalt, promoting a circular economy and reducing environmental impact.

• Process Innovation: Continuous R&D is focused on making the electrowinning process more energy-efficient and cost-effective, including the use of membrane technologies and advanced automation.

Get Full Report Here: Electrowinning Cobalt Market – View in Detailed Research Report

The companies listed above are not only supplying a critical raw material—they are enabling the technological advancements that will define the coming decades, from electric mobility to renewable energy storage.