Top 10 Companies in the Cobalt Scrap Recycling Market (2026): Market Leaders Powering Global Supply Chains

MARKET INSIGHTS

Global cobalt scrap recycling market was valued at USD 1,443 million in 2024 and is projected to reach USD 3,479 million by 2032, exhibiting a CAGR of 13.7% during the forecast period.

Cobalt scrap recycling involves the reprocessing of waste cobalt materials to extract reusable cobalt. This strategic metal is essential for manufacturing anti-corrosion alloys, heat‑resistant alloys, and lithium‑ion batteries, particularly for electric vehicles (EVs). Recycled cobalt offers significant advantages, including lower production costs, reduced environmental impact, and simplified processing compared to primary cobalt production.

The market is expanding rapidly due to growing demand from the EV sector and increased emphasis on sustainable supply chains. In 2023, global recycled cobalt production reached 43,408 metric tons, with 83.50% sourced from lithium battery waste. China dominates consumption, accounting for 71.90% of the market in 2023, while companies like GEM and Huayou Holding Group lead production. Apple’s commitment to using 100% recycled cobalt in batteries by 2025 further highlights the industry’s potential.

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Market Size

Global cobalt scrap recycling market was valued at USD 1,443 million in 2024 and is projected to reach USD 3,479 million by 2032, exhibiting a CAGR of 13.7% during the forecast period.

Product Definition

Cobalt scrap recycling reprocesses waste cobalt materials to reclaim a high‑purity metal used in anti‑corrosion alloys, heat‑resistant alloys, and lithium‑ion batteries. Compared with primary mining, recycled cobalt reduces production costs, lowers environmental footprints, and simplifies supply chain logistics.

Top 10 Companies in the Cobalt Scrap Recycling Market (2026)

10. GEM Co., Ltd. (China)

Headquarters: Shanghai, China
Key Offering: End‑to‑end battery collection, dismantling, hydrometallurgical cobalt extraction

GEM has built a vertically integrated platform that captures spent lithium‑ion batteries, processes them through advanced chemical leaching, and delivers cobalt with purity exceeding 99.9%. The company’s scale allows it to meet the growing demand from automotive and consumer electronics OEMs while maintaining competitive pricing.

Sustainability Initiatives:

• Closed‑loop recycling model reducing cobalt mining footprint
• Partnerships with Chinese EV manufacturers to secure feedstock
• Investment in AI‑driven sorting to enhance recovery rates

9. Huayou Holding Group (China)

Headquarters: Shenzhen, China
Key Offering: Hydrometallurgical cobalt recovery, alloy production

Huayou focuses on extracting cobalt from both battery and alloy waste streams. Its recent $450 million investment in a Moroccan facility signals a strategic push into the European market, where demand for recycled cobalt is rising under new regulatory mandates.

Sustainability Initiatives:

• Geographic diversification to mitigate supply chain risks
• Carbon‑neutral processing operations
• Transparent traceability via blockchain for end‑to‑end supply chain visibility

8. CNGR Advanced Material (China)

Headquarters: Guangzhou, China
Key Offering: Advanced hydrometallurgical processes, high‑purity cobalt

CNGR leverages proprietary chemistry to achieve recovery rates above 95%. The firm’s technology enables it to supply high‑grade cobalt to aerospace and automotive sectors that demand the strictest purity standards.

Sustainability Initiatives:

• Investments in automated sorting to reduce manual handling
• Partnerships with European OEMs to align with ESG targets
• Continuous improvement of energy efficiency in processing plants

7. BRUNP RECYCLING (China)

Headquarters: Hangzhou, China
Key Offering: Physical‑mechanical and hydrometallurgical recycling

BRUNP’s hybrid approach blends mechanical separation with chemical leaching, delivering a flexible solution that can adapt to varying scrap compositions. The company’s focus on process optimization has lowered operating costs by 15% over the past two years.

Sustainability Initiatives:

• Waste‑to‑energy integration within recycling facilities
• Compliance with China’s new environmental standards for battery recycling
• Collaboration with local governments to improve collection networks

6. Miracle Automation Engineering (China)

Headquarters: Shenzhen, China
Key Offering: Automation solutions for battery disassembly and material recovery

Miracle Engineering supplies robotics and AI systems that accelerate battery dismantling, reducing labor intensity and enhancing safety. Its technology is adopted by several Chinese recyclers seeking to scale operations efficiently.

Sustainability Initiatives:

• Development of low‑energy robotics for disassembly
• Integration of real‑time quality monitoring
• Support for circular economy initiatives in China

5. Redwood Materials (U.S.)

Headquarters: Newark, California, USA
Key Offering: Direct recycling of lithium‑ion batteries, high‑purity cobalt extraction

Redwood’s proprietary direct recycling process captures cobalt directly from battery cathodes, bypassing complex chemical steps. The company’s goal of processing 100 GWh of battery material annually positions it to supply over 1 million EVs by 2025.

Sustainability Initiatives:

• Zero‑waste processing plants
• Partnerships with U.S. automakers to secure long‑term supply contracts
• Use of renewable energy in plant operations

4. Umicore (Belgium)

Headquarters: Liège, Belgium
Key Offering: Hydrometallurgical recycling, alloy production

Umicore operates the Hoboken plant in the Netherlands, recycling approximately 7,000 tons of cobalt annually. The firm’s focus on high‑purity output aligns with the stringent requirements of European battery manufacturers.

Sustainability Initiatives:

• Carbon‑neutral manufacturing processes
• Collaborations with European EV makers to meet 25% recycled cobalt targets
• Transparent reporting of ESG metrics

3. Guangdong Guanghua Sci-Tech (China)

Headquarters: Guangzhou, China
Key Offering: Hydrometallurgical processing, alloy manufacturing

Guangdong Guanghua focuses on producing high‑purity cobalt alloys for aerospace and high‑performance battery applications. Its integrated facilities allow rapid turnaround from scrap to finished product.

Sustainability Initiatives:

• Energy‑efficient processing lines
• Use of recycled water in operations
• Compliance with China’s 2024 environmental regulations

2. Ganzhou Highpower Technology (China)

Headquarters: Ganzhou, Jiangxi, China
Key Offering: Advanced hydrometallurgical recovery, high‑purity cobalt

Ganzhou Highpower has developed a proprietary leaching process that achieves cobalt purity above 99.9% while minimizing water usage. The company supplies both domestic OEMs and international partners.

Sustainability Initiatives:

• Closed‑loop water management system
• Carbon footprint reduction targets
• Partnerships with Chinese battery manufacturers for feedstock security

1. TES (Singapore)

Headquarters: Singapore
Key Offering: Hybrid recycling processes, cobalt alloy production

TES operates a hybrid plant that combines mechanical separation with chemical leaching, enabling flexible response to diverse scrap streams. The firm’s focus on process optimization has increased recovery rates and reduced operating costs.

Sustainability Initiatives:

• Investment in renewable energy for plant operations
• Transparent supply chain tracking using blockchain
• Alignment with Singapore’s circular economy strategy

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Outlook: The Future of Cobalt Scrap Recycling

The trajectory of the cobalt scrap recycling market is shaped by a confluence of electrification momentum, regulatory frameworks, and technological innovation. Companies that embed advanced hydrometallurgical chemistry, AI‑enabled sorting, and blockchain traceability into their operations will likely capture the premium segment demanded by OEMs committed to ESG goals.

Future Trends

• Adoption of direct recycling technologies that eliminate the need for complex chemical leaching.
• Expansion of localized recycling hubs in high‑growth regions such as Morocco and the United Arab Emirates.
• Integration of digital platforms for real‑time scrap tracking and quality assurance.
• Increased collaboration between OEMs and recyclers to secure long‑term supply agreements.
• Growth in renewable energy storage and aerospace applications driving demand for high‑purity cobalt.