The Global Cobalt Powder for EV Battery Market was valued at USD 1.42 Billion in 2024 and is projected to reach USD 3.18 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period (2024–2032). This robust growth is being driven by the exponential expansion of global electric vehicle production, stringent government emissions regulations, and the critical role of cobalt in enhancing battery energy density and thermal stability.

As the automotive industry accelerates its transition to electrification, the spotlight is on the key material suppliers who are securing supply chains, driving innovation, and pioneering sustainable sourcing practices. In this blog, we profile the Top 10 Companies in the Cobalt Powder for EV Battery Industry—a mix of mining giants, specialized refiners, and recycling pioneers shaping the future of electric mobility.

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🔟 1. Umicore

Headquarters: Brussels, Belgium
Key Offering: High-Purity Cobalt Powders, Cathode Precursor Materials

Umicore is a global leader in sustainable cobalt powder and cathode materials for lithium-ion batteries. The company operates a fully integrated value chain, from cobalt refining to the production of advanced cathode active materials. Their proprietary hydrometallurgical technology ensures high-purity cobalt powders essential for long-life, high-performance EV batteries.

Sustainability Initiatives:

• Pioneer in closed-loop battery recycling solutions

• Committed to 100% sustainable sourcing certified by the Responsible Minerals Initiative (RMI)

• Investing in next-generation cobalt-free and low-cobalt cathode technologies

Download FREE Sample Report: Cobalt Powder for EV Battery Market – View in Detailed Research Report

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9️⃣ 2. Nanjing Hanrui Cobalt Co., Ltd.

Headquarters: Nanjing, China
Key Offering: Cobalt Metal, Cobalt Salts, Cobalt Powder for Batteries

Nanjing Hanrui Cobalt is one of China’s leading producers of cobalt intermediates and powders, serving the massive Asian battery market. The company has significantly expanded its production capacity with new facilities in Indonesia, positioning itself as a key supplier for the region’s growing gigafactory network.

Sustainability Initiatives:

• Major investments in Indonesian mining and refining to diversify supply sources

• Developing processes to reduce energy consumption in cobalt powder production

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8️⃣ 3. Freeport Cobalt

Headquarters: Kokkola, Finland
Key Offering: Ultrafine Cobalt Powders, Cobalt Chemicals

Freeport Cobalt specializes in high-value ultrafine cobalt powders with particle sizes optimized for superior battery performance. Their products are known for high purity and consistency, making them a preferred supplier for European and North American premium EV manufacturers requiring advanced battery formulations.

Sustainability Initiatives:

• Focus on producing cobalt powders that enable higher energy density batteries

• Implementation of traceability systems to ensure responsible sourcing

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7️⃣ 4. Green Eco-Manufacturer

Headquarters: Helsinki, Finland
Key Offering: Recycled Cobalt Powder, Low-Carbon Battery Materials

Green Eco-Manufacturer is an emerging leader in sustainable cobalt powder production through advanced recycling technologies. The company operates Europe’s first dedicated cobalt powder recycling facility, producing high-purity materials from end-of-life batteries with significantly reduced carbon footprint.

Sustainability Initiatives:

• Pioneering hydrometallurgical recycling processes with over 95% cobalt recovery rates

• Producing cobalt powder with 60% lower CO2 emissions compared to virgin materials

Download FREE Sample Report: Cobalt Powder for EV Battery Market – View in Detailed Research Report

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6️⃣ 5. Jinchuan Group

Headquarters: Jinchang, China
Key Offering: Cobalt Metal, Cobalt Powder, Nickel-Cobalt Alloys

Jinchuan Group is one of China’s largest producers of non-ferrous metals, with significant cobalt mining and refining operations. The company supplies cobalt powder to major battery manufacturers in Asia and is expanding its capacity to meet growing EV demand.

Sustainability Initiatives:

• Investing in smelting technology upgrades to reduce environmental impact

• Developing integrated nickel-cobalt supply chains for battery applications

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5️⃣ 6. Huayou Cobalt Co., Ltd.

Headquarters: Tongxiang, China
Key Offering: Cobalt Products, Nickel Products, Cathode Precursors

Huayou Cobalt is a major global player in cobalt supply, with extensive mining operations and refining facilities. The company has established strategic partnerships with battery makers and automakers to secure long-term supply agreements for cobalt powders and precursors.

Sustainability Initiatives:

• Implementing comprehensive ESG standards across its supply chain

• Investing in recycling partnerships to create circular economy solutions

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4️⃣ 7. Sherritt International Corporation

Headquarters: Toronto, Canada
Key Offering: Cobalt Metal, Cobalt Powder, Nickel

Sherritt International is a leading North American cobalt producer with operations in Canada and Cuba. The company’s hydrometallurgical expertise enables production of high-purity cobalt powders suitable for advanced battery applications, serving customers seeking diversified supply sources.

Sustainability Initiatives:

• Focus on North American supply chain development for EV batteries

• Implementing technologies to reduce water and energy consumption in refining

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3️⃣ 8. Sumitomo Metal Mining Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Cathode Materials, Cobalt Powders, Nickel Products

Sumitomo Metal Mining is a key Japanese supplier of battery materials, including high-purity cobalt powders for the automotive industry. The company leverages its expertise in metals processing to produce specialized powders for high-nickel, low-cobalt cathode formulations.

Sustainability Initiatives:

• Developing advanced cathode materials with reduced cobalt content

• Investing in recycling technologies for battery materials recovery

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2️⃣ 9. GEM Co., Ltd.

Headquarters: Shenzhen, China
Key Offering: Recycled Cobalt, Nickel, Battery Materials

GEM is a pioneer in urban mining and battery recycling, producing high-quality cobalt powder from recycled sources. The company has established one of the world’s largest battery recycling networks, providing sustainable alternatives to mined cobalt.

Sustainability Initiatives:

• Building circular economy models for battery materials

• Developing innovative recycling processes for hard-to-recover materials

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1️⃣ 10. Eramet

Headquarters: Paris, France
Key Offering: Cobalt, Nickel, Manganese for Batteries

Eramet is a French mining and metals group developing integrated battery material supply chains. The company’s projects in Argentina and other regions aim to produce sustainable cobalt and nickel units for the European EV market, supporting regional supply chain independence.

Sustainability Initiatives:

• Developing low-carbon footprint battery metal production

• Focus on transparent and traceable supply chains

Read Full Report: Cobalt Powder for EV Battery Market – View in Detailed Research Report

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🌍 Outlook: The Future of Cobalt Powder Is Sustainable and Efficient

The cobalt powder market for EV batteries is undergoing a fundamental transformation. While demand continues to grow with EV adoption, the industry is investing heavily in sustainable sourcing, recycling technologies, and material efficiency improvements.

📈 Key Trends Shaping the Market:

• Rapid expansion of battery recycling infrastructure globally

• Shift towards high-nickel, low-cobalt cathode chemistries to optimize cost and performance

• Geographic diversification of cobalt supply chains away from concentration risks

• Automaker-supplier partnerships for secured and sustainable material supply

Read Full Report: Cobalt Powder for EV Battery Market – View in Detailed Research Report

The companies listed above are not only supplying critical materials for electric vehicles—they’re driving the sustainable transformation of the entire automotive industry.