The Global Cobalt Sulfate Market was valued at USD 1.2 Billion in 2024 and is projected to reach USD 2.5 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 11.8% during the forecast period (2024-2030). This growth is being driven by surging demand for lithium-ion batteries, expanding electric vehicle (EV) production, and increasing industrial applications across ceramics, chemicals, and pharmaceuticals.

As the clean energy transition accelerates and battery technologies evolve, key cobalt sulfate suppliers are scaling production capacities, securing raw material supply chains, and investing in sustainable extraction methods. In this blog, we profile the Top 10 Companies in the Cobalt Sulfate Industry—a mix of chemical giants, specialized producers, and vertically integrated miners shaping the future of this critical material.

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🔟 1. Umicore

Headquarters: Brussels, Belgium
Key Offering: High-purity cobalt sulfate for batteries

Umicore leads the cobalt sulfate market with its closed-loop recycling system and sustainable refining processes. The company supplies major battery manufacturers worldwide while maintaining strict environmental standards.

Sustainability Initiatives:

• 50% recycled content target for battery materials by 2030
• World’s first carbon-neutral cobalt sulfate production

Download FREE Sample Report:
Cobalt Sulfate Market – View in Detailed Research Report

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9️⃣ 2. Huayou Cobalt

Headquarters: Tongxiang, China
Key Offering: Battery-grade cobalt sulfate

Huayou Cobalt controls significant portions of the cobalt supply chain from mining to refining. The company continues to expand production capacity to meet growing EV battery demand.

Sustainability Initiatives:

• Implementation of responsible mining standards
• Investment in battery recycling infrastructure

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8️⃣ 3. GEM Co., Ltd.

Headquarters: Shenzhen, China
Key Offering: Cobalt sulfate and precursor materials

GEM operates one of the world’s largest battery recycling programs, recovering cobalt and other critical metals for reuse in lithium-ion batteries.

Sustainability Initiatives:

• Circular economy model for cobalt recovery
• 200,000+ tons annual battery recycling capacity

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7️⃣ 4. Freeport Cobalt

Headquarters: Kokkola, Finland
Key Offering: High-purity cobalt chemicals

Freeport operates Europe’s largest cobalt refinery, supplying the global battery market with responsibly sourced materials.

Sustainability Initiatives:

• Responsible Sourcing Certified Operations
• Investment in low-carbon refining technologies

Download FREE Sample Report:
Cobalt Sulfate Market – View in Detailed Research Report

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6️⃣ 5. Sherritt International

Headquarters: Toronto, Canada
Key Offering: Cobalt and nickel products

Sherritt is a leading North American cobalt producer with operations in Cuba and Madagascar, focusing on sustainable hydrometallurgical processes.

Sustainability Initiatives:

• First RMI certified cobalt producer
• Innovations in low-impact processing

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5️⃣ 6. Nornickel

Headquarters: Moscow, Russia
Key Offering: Cobalt sulfate and intermediates

Nornickel produces cobalt sulfate as a byproduct of its nickel operations, supplying both European and Asian battery markets.

Sustainability Initiatives:

• Sulfur dioxide emission reduction program
• Modern tailings management systems

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4️⃣ 7. Jinchuan Group

Headquarters: Jinchang, China
Key Offering: Cobalt and nickel chemicals

Jinchuan is a major Chinese cobalt sulfate producer with integrated mining and refining operations.

Sustainability Initiatives:

• Energy efficiency improvements
• Water recycling implementation

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3️⃣ 8. Glencore

Headquarters: Baar, Switzerland
Key Offering: Cobalt hydroxide and sulfate

Glencore is one of the world’s largest cobalt miners, supplying battery material producers globally.

Sustainability Initiatives:

• Responsible sourcing commitments
• Artisanal mining programs in DRC

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2️⃣ 9. Sumitomo Metal Mining

Headquarters: Tokyo, Japan
Key Offering: Battery-grade cobalt sulfate

Sumitomo produces high-purity cobalt sulfate for Japanese and international battery manufacturers.

Sustainability Initiatives:

• Closed-loop recycling systems
• Low-carbon refining technologies

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1️⃣ 10. Nicomet Industries

Headquarters: Mumbai, India
Key Offering: Cobalt salts and compounds

Nicomet is a leading Indian cobalt producer supplying both domestic and international markets.

Sustainability Initiatives:

• Waste recovery programs
• Energy efficient processes

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

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🌍 Outlook: The Future of Cobalt Sulfate Is Sustainable and Tech-Driven

The cobalt sulfate market is undergoing rapid transformation as demand grows for battery materials and sustainable production methods.

📈 Key Trends Shaping the Market:

• Accelerating EV adoption driving 20% annual demand growth
• New battery chemistries influencing cobalt requirements
• Recycling technologies reducing primary material needs
• Stricter ESG compliance requirements

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

The companies listed above are not only meeting current demand—they’re building the sustainable foundation for the battery materials of tomorrow.