The Global Cobalt Salt Market was valued at USD 1.82 Billion in 2024 and is projected to reach USD 2.58 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period (2024–2030). This robust growth is primarily driven by escalating demand from the rechargeable battery sector, advancements in chemical processing, and the critical role of cobalt salts in manufacturing durable goods like tires and steel hoses.

As industries worldwide pivot towards electrification and enhanced material performance, cobalt salt producers are at the forefront, ensuring a stable supply of this essential raw material. In this analysis, we profile the Top 10 Companies in the Cobalt Salt Industry—a diverse group of chemical manufacturers and specialists shaping the supply chain for this strategically important market.

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🔟 1. Shepherd Chemical Company

Headquarters: Cincinnati, Ohio, USA
Key Offering: Cobalt Acetate, Cobalt Carbonate, Cobalt Nitrate

Shepherd Chemical is a leading US-based manufacturer of high-purity metal salts, including a comprehensive portfolio of cobalt-based products. The company serves a wide array of industries, from catalysts and pigments to animal nutrition and ceramics, with a strong focus on quality and technical support.

Strategic Initiatives:

• Expansion of high-purity cobalt salt production capacity
• Investment in environmentally sustainable manufacturing processes
• Strong R&D focus on new cobalt salt applications

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9️⃣ 2. Jaingsu Kaou Chemical Co., Ltd.

Headquarters: Jiangsu, China
Key Offering: Cobalt Sulfate, Cobalt Chloride, Cobalt Oxalate

As a major player in the Asia-Pacific region, Jaingsu Kaou Chemical specializes in the production of various cobalt salts essential for battery electrolytes, catalysts, and electroplating. The company leverages China’s significant cobalt refining infrastructure to serve both domestic and international markets.

Strategic Initiatives:

• Vertical integration with cobalt raw material sources
• Focus on battery-grade cobalt sulfate for the EV market
• Capacity expansion to meet growing global demand

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8️⃣ 3. Lutai Chemical Group

Headquarters: Shandong, China
Key Offering: Cobalt Carbonate, Cobalt Oxide, Cobalt Hydroxide

Lutai Chemical is a significant manufacturer of inorganic cobalt compounds, with a strong presence in the Asian market. The company’s products are critical inputs for the production of lithium-ion battery cathodes, magnetic alloys, and various industrial catalysts.

Strategic Initiatives:

• Strategic partnerships with battery manufacturers
• Investment in refining technology to improve product purity
• Diversification of cobalt salt product portfolio

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7️⃣ 4. Pengcai Chemical Co., Ltd.

Headquarters: Zhejiang, China
Key Offering: Cobalt Acetate, Cobalt Nitrate, Cobalt Sulfate

Pengcai Chemical is a specialized producer of cobalt salts, serving the coatings, catalysts, and battery industries. The company is known for its consistent product quality and reliable supply chain, making it a trusted partner for multinational corporations.

Strategic Initiatives:

• Implementation of advanced quality control systems
• Development of custom cobalt salt formulations
• Expansion into high-growth application segments

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6️⃣ 5. Guangsheng Xiangsu New Material Co., Ltd.

Headquarters: Guangdong, China
Key Offering: Cobalt Oxalate, Cobalt Carbonate, Cobalt Powder

Guangsheng Xiangsu focuses on the production of cobalt salts and cobalt metal powders for advanced technological applications. The company’s products are essential for manufacturing hard alloys, diamond tools, and battery materials.

Strategic Initiatives:

• Specialization in high-value cobalt powder and salt products
• R&D in cobalt recycling and sustainable sourcing
• Targeted growth in the EV and energy storage markets

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5️⃣ 6. Comar Chemicals

Headquarters: Mumbai, India
Key Offering: Cobalt Sulfate, Cobalt Chloride, Cobalt Acetate

Comar Chemicals is a prominent Indian manufacturer and supplier of industrial chemicals, including a range of cobalt salts. The company serves diverse sectors such as agriculture, pigments, and electroplating, with a strong distribution network across India and export markets.

Strategic Initiatives:

• Expansion of distribution channels in emerging markets
• Focus on pharmaceutical and food-grade cobalt salts
• Strategic sourcing of raw materials to ensure supply stability

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4️⃣ 7. Jiangsu Evergreen New Material Technology Co., Ltd.

Headquarters: Jiangsu, China
Key Offering: Battery-Grade Cobalt Sulfate, Cobalt Nitrate

Jiangsu Evergreen specializes in high-purity cobalt salts for the lithium-ion battery industry. The company’s focus on battery-grade materials positions it as a key supplier to the rapidly expanding electric vehicle and energy storage system markets.

Strategic Initiatives:

• Certification for supplying major battery producers
• Investment in production facilities dedicated to battery materials
• Development of ultra-high purity cobalt salt processes

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3️⃣ 8. Changzhou Xuelong Chemical Co., Ltd.

Headquarters: Changzhou, China
Key Offering: Cobalt Acetate, Cobalt Carbonate, Cobalt Oxide

Changzhou Xuelong is a well-established chemical manufacturer with a diverse product portfolio that includes various cobalt salts. The company serves the颜料, catalyst, and ceramic industries with a reputation for product consistency and reliability.

Strategic Initiatives:

• Modernization of production facilities for enhanced efficiency
• Expansion of export business to Europe and North America
• Development of environmentally friendly production methods

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2️⃣ 9. Yunnan Qifeng Xiangyun Chemical Co., Ltd.

Headquarters: Yunnan, China
Key Offering: Cobalt Sulfate, Cobalt Chloride, Cobalt Metal

Located in a region with significant mineral resources, Yunnan Qifeng benefits from proximity to cobalt raw materials. The company produces a range of cobalt salts and metals, serving both domestic Chinese industries and international markets.

Strategic Initiatives:

• Leveraging local mineral resource advantages
• Investment in cobalt salt refining technology
• Strategic positioning in the battery materials supply chain

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1️⃣ 10. Umicore

Headquarters: Brussels, Belgium
Key Offering: High-Purity Cobalt Salts, Battery Precursors, Cobalt-based Catalysts

Umicore is a global materials technology and recycling group and a leading player in the cobalt value chain. While not exclusively a salt producer, its operations in battery materials and catalysis involve the processing and sale of high-purity cobalt compounds on a large scale. The company is a key supplier to the automotive and chemical industries.

Sustainability Initiatives:

• World leader in cobalt recycling from spent batteries
• Commitment to responsible sourcing and supply chain transparency
• R&D into next-generation battery materials

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

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🌍 Outlook: The Future of Cobalt Salts Is Driven by Electrification and Sustainability

The cobalt salt market is undergoing a significant transformation. While traditional applications in alloys and catalysts remain important, the industry is increasingly shaped by the explosive growth of the lithium-ion battery sector and a heightened focus on sustainable and ethical sourcing.

📈 Key Trends Shaping the Market:

• Rising demand for battery-grade cobalt sulfate from the electric vehicle industry
• Increasing regulatory scrutiny on cobalt supply chain transparency and ethics
• Technological advancements in cobalt recycling from end-of-life products
• Development of cobalt-free or low-cobalt battery chemistries influencing long-term demand

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

The companies profiled above are not only supplying a critical industrial material—they are integral to the global transition to clean energy and advanced manufacturing.