Neutron Absorber Material Market Growth Analysis, Market Dynamics, Key Players and Innovations, Outlook and Forecast 2024-2030

Global Neutron Absorber Material market size in terms of revenue is projected to reach 251.48 Million USD by 2029 from 183.62 Million USD in 2023, with a CAGR 5.38% during 2023-2029.

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Neutron absorber materials are substances that effectively absorb neutrons without causing a nuclear chain reaction. These materials are used in various applications in the nuclear industry, such as nuclear reactor control, radiation shielding, and nuclear waste management.

• Boron: Boron is a widely used neutron absorber material, particularly as boron-10, an isotope with a high neutron absorption cross-section. Boron is often incorporated into control rods, which are used to regulate the fission rate in nuclear reactors.

• Cadmium: Cadmium has a high neutron absorption cross-section and is often used in control rods and other neutron-absorbing components in nuclear reactors.

• Hafnium: Hafnium is a strong neutron absorber and is commonly used in nuclear reactor control rods due to its excellent mechanical properties and corrosion resistance.

• Silver: Silver is another effective neutron absorber, particularly in the form of silver-indium-cadmium (Ag-In-Cd) alloys, which are used in control rods and other neutron-absorbing components.

• Dysprosium: Dysprosium is a rare-earth element with a high neutron absorption cross-section. It is sometimes used in nuclear reactor control rods and neutron shielding applications.

• Samarium: Samarium is another rare-earth element with strong neutron absorption properties, particularly the isotope samarium-149. It is used in nuclear reactor control rods and as a neutron poison in nuclear fuel.

• Gadolinium: Gadolinium, especially the isotope gadolinium-155, is a highly effective neutron absorber. It is used in control rods, burnable poisons, and as a neutron shield in nuclear reactors.

➣ Regional Insights:

➣ North America:
• The North American Neutron Absorber Material market is anticipated to witness substantial growth, ascending from 55.58 million USD in 2023 to a projected 69.16 million USD by 2029. This marks a noteworthy CAGR of 3.71% during the forecast period.

➣ Europe:
• In Europe, the Neutron Absorber Material market is forecasted to surge from 58.56 million USD in 2023 to an estimated 80.86 million USD by 2029. The expected CAGR for this period is 5.53%, underlining a trajectory of robust expansion.

➣ Asia-Pacific:
• The Asia-Pacific region is poised for significant growth in the Neutron Absorber Material market, with projections indicating an increase from 61.38 million USD in 2023 to a substantial 90.75 million USD by 2029. This anticipates a compelling CAGR of 6.73% during the forecast period.

➣ Vendor Landscape:
As of 2022, the top five vendors collectively commanded an impressive 73.89% share of the Neutron Absorber Material market revenue, emphasizing the dominance and influence of these major players.

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➣ By Company:
• 3M
• Holtec International
• Nikkeikin Aluminium Core Technology Company
• Rochling
• Nippon Yakin Kogyo
• Antai-heyuan Nuclear Energy Technology & Materials
• MillenniTEK
• Ramon Science and Technology
• Lemer Pax
• Hangzhou Taofeilun
• Stanford Advanced Materials (Oceania International)
• Jiangsu Hailong Nuclear Technology
• Trumony Aluminum

➣ Segment By Type:
• Boron-Stainless Steel
• Boron Carbide
• Boron Carbide-Aluminum Composite
• Others

➣ Segment By Application:
• Spent Fuel Storage Racks
• Storage and Transportation Casks
• Others

➣ Production & Consumption By Region:
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• The Middle East and Africa (Middle East, Africa)
• South and Central America (Brazil, Argentina, Rest of SCA)

➣ Key Trends in the Neutron Absorber Material Market:

• Increasing demand from nuclear power industry: With the growing emphasis on nuclear power generation as a sustainable and reliable energy source, there is a rising demand for neutron absorber materials. These materials are essential for controlling and managing neutron flux in nuclear reactors, ensuring safe and efficient operations.

• Development of advanced neutron absorber materials: Researchers and material scientists are continuously working on developing new and advanced neutron absorber materials with improved performance characteristics. These materials aim to offer higher neutron absorption cross-sections, better thermal and radiation stability, and longer service life.

• Focus on accident-tolerant fuels (ATFs): In the aftermath of the Fukushima Daiichi nuclear accident, there has been a heightened focus on developing accident-tolerant fuels (ATFs) for nuclear reactors. Neutron absorber materials play a crucial role in the design and implementation of ATFs, as they contribute to enhancing the safety and resilience of nuclear fuel systems under accident conditions.

• Adoption of advanced manufacturing techniques: The production of neutron absorber materials often involves complex manufacturing processes. The industry is witnessing the adoption of advanced manufacturing techniques, such as additive manufacturing (3D printing) and powder metallurgy, to improve the quality, consistency, and cost-effectiveness of these materials.

• Emphasis on long-term performance and reliability: Nuclear reactors have a long operational lifespan, and neutron absorber materials need to maintain their performance and integrity over extended periods. Manufacturers and researchers are focusing on improving the long-term performance and reliability of these materials to ensure safe and reliable reactor operations.

• Recycling and waste management: As nuclear power plants age and undergo decommissioning, there is a growing need for effective recycling and waste management strategies for neutron absorber materials. Efforts are being made to develop recycling techniques and sustainable disposal methods to minimize environmental impact.

• Regulatory compliance and safety standards: The nuclear industry operates under stringent regulatory frameworks and safety standards. Neutron absorber materials must comply with these regulations and standards to ensure the safe and secure handling, transportation, and usage of these materials.

• Collaboration and knowledge-sharing: The development and application of neutron absorber materials often involve collaboration between research institutions, material science companies, and nuclear industry stakeholders. Knowledge-sharing and collaborative efforts are essential for driving innovation and addressing challenges in this specialized field.

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