Press release
Ionic Exchange Based Liquid Nuclear Waste Treatment Market To Expand at a Robust CAGR 12.1% By 2025
As per a report by Transparency Market Research (TMR), the global IE based liquid nuclear waste treatment market is expected to expand at a healthy CAGR of 12.1% between 2017 and 2025. Expanding at this rate, the market which stood at US$803.8 mn in 2016 is projected to become worth US$2,276.9 mn by 2025.
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Asia Pacific to Emerge as Lucrative Regional Market
In terms of ionic exchange process, the segments of IE based liquid nuclear waste treatment market are inorganic natural ion exchangers, organic natural ionic exchangers, synthetic inorganic ionic exchangers, synthetic organic exchangers, and modified natural ionic exchangers. Amongst all, inorganic natural ion exchangers is the widely used technique for treating liquid radioactive waste. This accounts for the leading share of inorganic natural ion exchangers. However, other techniques such as organic natural ionic exchangers, synthetic inorganic ionic exchangers, synthetic organic ionic exchangers, and modified natural ionic exchangers are also used considerably.
Region-wise, Europe led the global IE based liquid nuclear waste treatment market in 2016 vis-à-vis revenue. Powered mainly by Germany, France, Russia, and the U.K., the region held more than 49.0% of the market in the year.
Asia Pacific is expected to display an increased market share in terms of revenue over the forecast period. This is ascribed to a few factors such as availability of nuclear technology, economic development, adequate suppliers of nuclear fuel, and increasing demand for clean and sustainable energy generation.
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Regulations from International Organizations for Safe Disposal of Nuclear Waste Fuels Growth
There are several factors driving the global ionic based liquid nuclear waste treatment market. International agencies such as International Atomic Energy Association, Department of Energy (DoE) USA, and World Nuclear Organization have laid stringent rules for the treatment and storage of radioactive waste. This is because there are a number of hazards that surround nuclear waste storage and disposal. The key among them is the long half-life of nuclear fission products that keep them radioactive for several thousand years, storage of nuclear waste, and effect of nuclear waste on plant and animal life.
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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