High-Purity Battery Grade Cobalt Sulfate Market Analysis
Market Size, Share Global Outlook and Forecast 2025-2032
Publication Date: April 22 , 2025
High-Purity Battery Grade Cobalt Sulfate Market Overview
High-purity battery-grade cobalt sulfate is a refined form used in lithium-ion batteries for electric vehicles (EVs) and portable devices.
China leads the market with a 78% share. Crystal Powder is the major product type (93%), while Power Battery dominates applications with a 66% share.
High-purity battery-grade cobalt sulfate refers to a refined form specifically for lithium-ion batteries, used in EVs, portable devices, and energy storage systems.
With the rising focus on renewable energy sources, the deployment of energy storage systems is increasing.
Market Value & Growth Projections
Market Value & Growth Projections:
• Global Market Value (2024): US$ 616 Million
• Projected Market Value (2031): US$ 1181 Million
• CAGR (2024-2029): 10.0%
Key Market Drivers:
Growing Demand for Electric Vehicles (EVs)
Market Segmentation
Key Market Players
Guangxi Yinyi
Advanced Material
Huayou Cobalt CoreMax Corporation
Regional Market Analysis
North America
The US, Canada, and Mexico are key markets for High-Purity Battery Grade Cobalt Sulfate, showing growth in demand and production.
Europe
Germany, France, and the UK are leading consumers of cobalt sulfate, with ongoing developments in the region's battery industry.
Asia-Pacific
China, Japan, and South Korea exhibit strong demand for cobalt sulfate due to their EV markets and technological advancements.
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