Nuclear Materials Market Growth Study in Detail along with Forecast in New Research- Report focuses on Top Players KazAtomProm", Cameco Corp., Orano, Uranium One Inc. , BHP, China National Nuclear Corporation, Rio Tinto, NMMC, Paladin Energy Ltd, Denison

The global nuclear materials market is expected to grow at a moderate rate during the forecast period, 2018 to 2023. Asia-Pacific is estimated to be the fastest growing market owing to the growing energy requirement. Energy & Power end-use industry is expected to be the largest market.

Growing Demand for Clean Air-Energy

Nuclear energy is one of the largest sources of clean-air energy, globally, and generates electricity without emission of harmful byproducts, such as NOx, SO2, CO2, smoke, and dust. Use of coal, oil, and natural gas power plants for energy generation releases these byproducts, which causes air pollution-related health problems and deaths. According to World Health Organization, air pollution causes more than 3 million premature deaths annually. Nuclear energy produces energy which can be supplied around-the-clock without any impact on the environment. This, in turn, is expected to increase the demand for clean air energy produced by nuclear power plants, which in turn is expected to drive the market for nuclear materials.

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Uranium continues to dominate the market

Uranium will continue to dominate the market for nuclear materials, during the forecast period. Uranium is an important nuclear material that is used as a fuel for large-scale energy generation. According to the World Nuclear Association (WNA), as of November 2015, around 397 nuclear power plants were operable in the world. These nuclear reactors require approximately 150 million pounds of uranium annually. Demand for uranium is expected to rise during the forecast period due to an increase in capacity of nuclear power generation in countries, such as China, India, Russia, and other countries. In addition, new capacity construction in countries, such as Turkey, Belarus, and Pakistan, among others is expected to increase the demand for uranium during the forecast period.

Asia-Pacific Region to be the fastest growing market

Asia-Pacific is projected to be the fastest growing market for nuclear materials, during the forecast period, owing to the growing energy requirement. Increase in population, rapid urbanization and high economic growth in countries, such as China, India, and South Korea has increased the consumption of electricity in residential and industrial sectors. In addition, these countries are trying to reduce their dependence on fossil fuels and focusing on clean energy is estimated to increase the consumption nuclear materials. Also, growing investments in nuclear energy sector in countries, such as Bangladesh, Mongolia, and Sri Lanka is expected to drive the market for nuclear materials in the region.

Major Companies Mentioned:

The Atomic Company "KazAtomProm", Cameco Corp., Orano, Uranium One Inc. , BHP, China National Nuclear Corporation, Rio Tinto, NMMC, Paladin Energy Ltd, Denison Mines Corp., The State Atomic Energy Corporation ROSATOM, Uranium Corporation of India Limited

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