Global Battery Grade Cobalt Sulphate Market Growth 2025-2031

The global Battery Grade Cobalt Sulphate market size is predicted to grow from US$ 714 million in 2025 to US$ 1235 million in 2031; it is expected to grow at a CAGR of 9.6% from 2025 to 2031.

Cobalt sulfate is a rose-red crystal that becomes a red powder after dehydration. It is soluble in water and methanol and slightly soluble in ethanol. Battery-grade cobalt sulfate refers to refined cobalt sulfate specifically used for lithium-ion positive electrode materials (NCM, LCO, NCA, etc.).

Battery-grade cobalt sulfate has a specific chemical composition and physical form, usually in the form of a crystalline powder (some companies also provide cobalt sulfate solution), which makes it very suitable as a positive electrode material for lithium-ion batteries. Its high purity ensures high performance and long life of the battery. In addition, battery-grade cobalt sulfate also has good electrochemical properties and can provide stable current and voltage output during battery charging and discharging.

From the perspective of the global distribution of cobalt mines, cobalt resources are concentrated and relatively scarce. Cobalt mines are mainly distributed in countries such as the Democratic Republic of the Congo, Indonesia, Australia, Cuba, Canada, and China.

In recent years, with the rapid development of new battery applications such as electric vehicles, energy storage equipment, and drones, the battery-grade cobalt sulfate market has shown a rapid growth trend, the demand for cobalt has rapidly increased, and some international cobalt mines have stopped production, and cobalt prices have risen sharply, especially during the period of 2021-2022, when cobalt prices have doubled to 3 times. Fluctuations in cobalt prices will affect the cost and stable supply of cobalt sulfate. At the same time, price fluctuations of battery-grade cobalt sulfate are easily affected by supply and demand, international logistics, and other factors.

In terms of terminal applications, battery material companies generally use crystalline powder to manufacture ternary materials. On the one hand, the transportation cost of the solution is very high; on the other hand, the solution is a dangerous product, and long-term storage has a certain impact on the content of the product itself. At the same time, crystalline powder is easy to store and can be resold on the market. The rapid growth of the new energy vehicle market is one of the main driving forces for the increase in demand for battery-grade cobalt sulfate. With the global emphasis on environmental protection and sustainable development, electric vehicles are the mainstream trend of future transportation, which has also driven the growth of the battery-grade cobalt sulfate market.

Global battery-grade cobalt sulfate (powder/solution) companies are mainly distributed in China (Jiangxi, Hubei, Hunan, Zhejiang, Taiwan, etc.), Finland and Indonesia. Among them, China's production share exceeds 95%. The world's top 5 companies mainly include Ganzhou Tengyuan Cobalt Industrial, GEM, Greatpower Nickel and Cobalt Materials, CoreMax Corporation and Huayou Cobalt, with a market share of 70%.

LP Information, Inc. (LPI) ' newest research report, the “Battery Grade Cobalt Sulphate Industry Forecast” looks at past sales and reviews total world Battery Grade Cobalt Sulphate sales in 2024, providing a comprehensive analysis by region and market sector of projected Battery Grade Cobalt Sulphate sales for 2025 through 2031. With Battery Grade Cobalt Sulphate sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Battery Grade Cobalt Sulphate industry.

This Insight Report provides a comprehensive analysis of the global Battery Grade Cobalt Sulphate landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Battery Grade Cobalt Sulphate portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Battery Grade Cobalt Sulphate market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Battery Grade Cobalt Sulphate and breaks down the forecast by Content, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Battery Grade Cobalt Sulphate.

This report presents a comprehensive overview, market shares, and growth opportunities of Battery Grade Cobalt Sulphate market by product type, application, key manufacturers and key regions and countries.

Segmentation by Content:
Crystal Powder
Solution

Segmentation by Application:
Power Battery
Consumer Battery
Other

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Ganzhou Tengyuan Cobalt Industrial
GEM
Greatpower Nickel and Cobalt Materials
CoreMax Corporation
Huayou Cobalt
Guangxi Yinyi Advanced Material
Guangdong Jin Sheng New Energy
Hunan Jin Yuan New Material
Nornickel
Terrafame Ltd
Ji En Nickel Industry
Trimegah Bangun Persada (TBP)
Dalian Ruiyuan Power
Zhangjiagang Huayi Chemical
Gaungdong Fangyuan Environment
Jiangxi Grand Green Technology

Key Questions Addressed in this Report

What is the 10-year outlook for the global Battery Grade Cobalt Sulphate market?

What factors are driving Battery Grade Cobalt Sulphate market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Battery Grade Cobalt Sulphate market opportunities vary by end market size?

How does Battery Grade Cobalt Sulphate break out by Content, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.