Cobalt Sulphate Market

• In March 2022, MMG announced the expansion of the Kinsevere operation in the Democratic Republic of Congo (DRC), with an investment between USD 500 million and USD 600 million, extending the project's operational life by at least 13 years.

• Huayou Cobalt and CATL, a Chinese battery producer, established a cooperation in 2023 to construct a cobalt sulfate factory in China.

In this report, the Cobalt Sulphate Market has been segmented by Grid, Product, Source, Types, Application and Geography.

Cobalt Sulphate Market, Segmentation by Grid

The cobalt sulfate market is primarily segmented by Grid into Agricultural & Feed-Grade Cobalt Sulfate, Industrial-Grade Copper Sulfate and Battery-Grade Copper Sulfate.

Agricultural & Feed-Grade Cobalt Sulfate

Agricultural & feed-grade cobalt sulfate accounts for nearly 18–20% of the market, widely used as a nutritional supplement in livestock feed to improve animal health and productivity. Demand is rising in developing regions due to the growing focus on meat and dairy production.

Industrial-Grade Cobalt Sulfate

Industrial-grade cobalt sulfate represents around 25–27% of the market and is applied in electroplating, ceramics, and chemical processing. Its demand is supported by growth in metal finishing industries and expanding industrial manufacturing activities globally.

Battery-Grade Cobalt Sulfate

Battery-grade cobalt sulfate dominates the segment with nearly 55–60% share, driven by its extensive use in lithium-ion batteries for electric vehicles (EVs) and energy storage systems. Rapid EV adoption and renewable energy expansion continue to fuel this demand.

Cobalt Sulphate Market, Segmentation by Product

The cobalt sulfate market is primarily segmented by Product into Solution and Powder Form.

Solution

The solution form of cobalt sulfate contributes nearly 55–60% of the market, primarily driven by its application in batteries, electroplating, and chemical synthesis. Its higher solubility and ease of use make it the preferred choice in industrial and energy storage applications.

Powder Form

The powder form accounts for around 40–45% of the market and is widely used in ceramics, pigments, and specialized alloys. Its demand is supported by the automotive and aerospace sectors, where high-performance coating materials and advanced metal processing are critical.

Cobalt Sulphate Market, Segmentation by Source

The cobalt sulfate market is primarily segmented by Source into Cobalt Ore, Nickel Ore, Copper Ore, Hydroxide Precursor and Sulphuric Acid

Cobalt Ore

Cobalt ore remains a primary source, contributing nearly 35% of global cobalt sulfate production. It is widely used due to its high cobalt concentration, ensuring efficient extraction for battery manufacturing and industrial applications.

Nickel Ore

Nickel ore accounts for around 25% of the supply, where cobalt is recovered as a by-product. This source is particularly significant in regions with extensive nickel mining, helping meet the growing demand for energy storage solutions.

Copper Ore

Approximately 20% of cobalt sulfate is derived from copper ore. The cobalt by-product recovery in large-scale copper mining operations provides a cost-effective route to support battery and alloy production.

Hydroxide Precursor

Hydroxide precursor contributes close to 15% of market share, especially for high-purity battery-grade materials. Its controlled composition makes it essential in EV batteries and other advanced energy systems.

Sulphuric Acid

Sulphuric acid-based processing holds nearly 5% of the market, primarily for chemical synthesis and specialty industrial applications. Though a smaller segment, it plays a role in ensuring flexibility of cobalt recovery methods.

Cobalt Sulphate Market, Segmentation by Types

The cobalt sulfate market is primarily segmented by Types into Hydrated Cobalt Sulfate and Anhydrous Cobalt Sulfate.

Hydrated Cobalt Sulfate

Hydrated cobalt sulfate dominates the segment with nearly 65% share. Its wide application in fertilizers, animal feed, and chemical processing drives demand. The compound is favored for its solubility and efficiency in enhancing nutrient absorption.

Anhydrous Cobalt Sulfate

Anhydrous cobalt sulfate accounts for around 35% of the market, primarily serving battery manufacturing and industrial applications. Its stability and high purity make it ideal for cathode materials in electric vehicles and energy storage systems.

Cobalt Sulphate Market, Segmentation by Application

The Cobalt Sulphate Market has been segmented by Application into Super Alloy, Hard Facing/ HSS & Other Alloy, Magnet, Hard Material, Catalyst, Color (Glass, Enamel, Plastic, Ceramic, Artistic Color, Fabric, Tire Adhesive, Soap, and Drier), Battery and Others (Feedstuff, Biotech, Anodizing, Recording Media and and Electrolysis).

Super Alloy

Super alloys hold nearly 18% of the cobalt sulfate market. Their exceptional heat resistance and strength make them indispensable in aerospace and power generation applications, particularly for turbine blades and engine components.

Hard Facing/ HSS & Other Alloy

This segment accounts for about 12% of the demand, with applications in wear-resistant coatings and high-speed steel tools. Its growth is fueled by rising demand in mining and heavy equipment industries.

Magnet

Magnets represent roughly 10% of the market share, widely used in electronics and electric motors. Increasing adoption of renewable energy systems and EV motors continues to drive this segment.

Hard Material

Hard materials contribute nearly 8% to the overall market. These are widely used in cutting tools, drilling equipment, and other industrial-grade applications requiring high durability.

Catalyst

The catalyst segment makes up around 9% of cobalt sulfate demand. It plays a vital role in petrochemical refining, desulfurization, and chemical synthesis, supporting the energy and chemical sectors.

Color (Glass, Enamel, Plastic, Ceramic, Artistic Color, Fabric, Tire Adhesive, Soap, and Drier)

Color-related applications account for nearly 11% of the market. Cobalt sulfate provides vibrant and durable pigments in glass, ceramics, plastics, and even textiles, ensuring high resistance to fading.

Battery

The battery segment dominates with over 28% share, driven by its essential role in lithium-ion batteries. Rising production of electric vehicles and energy storage systems has made this the fastest-growing segment.

Others (Feedstuff, Biotech, Anodizing, Recording Media and Electrolysis)

The "Others" category contributes about 4% of the market. It covers specialized uses in animal feed, biotech research, electrolysis processes, and niche industrial applications.

Cobalt Sulphate Market, Segmentation by Geography

In this report, the Cobalt Sulphate Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Cobalt Sulphate Market Share (%), by Geographical Region

North America

North America accounts for nearly 22% of the cobalt sulfate market, driven by the strong demand for EV batteries and renewable energy storage systems. Government incentives for clean energy adoption and growing automotive electrification continue to boost regional growth.

Europe

Europe represents about 20% of the global market, supported by strict environmental regulations and the EU’s push for green mobility. Rising investments in battery gigafactories and recycling technologies further strengthen the region’s market presence.

Asia Pacific

Asia Pacific dominates with over 40% of the cobalt sulfate market, fueled by large-scale EV production, particularly in China, Japan, and South Korea. Expanding industrial manufacturing and government-backed battery initiatives make it the fastest-growing region.

Middle East & Africa

This region holds nearly 10% of the market, with significant contributions from cobalt mining operations in the Democratic Republic of Congo. Rising interest in downstream processing and industrial diversification is expected to enhance growth prospects.

Latin America

Latin America contributes close to 8% of the market, led by increasing demand in industrial coatings and energy storage systems. Investments in infrastructure modernization and renewable energy projects are expanding the region’s role in the global cobalt sulfate landscape.