United States Uranium Market to Grow at 4.86% CAGR, Driven by Nuclear Energy Revival and Supply Security Concerns | DataM Intelligence

The global uranium market reached US$ 9.30 billion in 2024 and is expected to reach US$ 13.59 billion by 2032, growing at a CAGR of 4.86% during the forecast period 2025-2032, according to DataM Intelligence.

United States: Recent Industry Developments

✅ In October 2025, Cameco Corporation restarted its McArthur River mine in Canada, adding 15 million pounds to annual uranium production.
✅ In September 2025, The U.S. Department of Energy allocated USD 3.5 billion for domestic uranium enrichment capacity expansion.
✅ In August 2025, Energy Fuels Inc. commissioned a new uranium processing facility in Wyoming with 2 million pounds annual capacity.

Europe: Recent Industry Developments

✅ In October 2025, Orano SA launched a new uranium conversion facility in France with 15,000-ton annual capacity.
✅ In September 2025, The European Commission approved €2 billion in funding for uranium exploration and mining projects within the EU.
✅ In August 2025, Uranium Energy Corp. acquired additional mining rights in Sweden, expanding its European resource base.

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Asia-Pacific: Recent Industry Developments

✅ In October 2025, Kazatomprom announced a 20% production increase at its Kazakh mines to meet growing global demand.
✅ In September 2025, China National Nuclear Corporation secured long-term uranium supply contracts with African mining companies.
✅ In August 2025, India's Department of Atomic Energy launched a new uranium exploration initiative in Andhra Pradesh.

Market Trends & Drivers

The Uranium Market is experiencing robust growth driven by the global nuclear energy renaissance, increasing concerns about energy security, and government support for clean baseload power. Key trends include the development of small modular reactors, strategic national stockpiling initiatives, and technological advancements in extraction methods. The growing focus on carbon-free electricity generation, rising uranium spot prices, and increasing nuclear reactor construction in emerging economies are significantly accelerating market expansion.

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Competitive Landscape

The market features intense competition among mining giants, state-owned enterprises, and exploration companies.

1. Cameco Corporation leads in uranium mining with extensive operations in Canada and global marketing presence.
2. Kazatomprom dominates global uranium production with large-scale operations in Kazakhstan.
3. Orano SA provides comprehensive nuclear fuel cycle services including uranium mining and conversion.
4. Energy Fuels Inc. operates multiple uranium projects in the United States with processing capabilities.
5. Uranium Energy Corp. focuses on exploration and development of uranium assets in North America.
6. Paladin Energy Ltd. develops uranium projects in Africa and Australia with restart capabilities.
7. BHP Group operates the Olympic Dam mine, one of the world's largest uranium deposits.
8. China National Nuclear Corporation controls uranium resources and nuclear fuel cycle operations in China.
9. Rio Tinto Group maintains significant uranium production through its mining operations.
10. Denison Mines Corp. specializes in uranium exploration and development in the Athabasca Basin.

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Segmentation

By Type (Natural Uranium, Enriched Uranium, Depleted Uranium)
By Application (Nuclear Power Generation, Medical Isotopes, Industrial, Military, Others)
By End-User (Utilities, Government & Defense Agencies, Research Institutes, Others)

Regional Analysis:

⇥ North America (U.S., Canada, Mexico)
⇥ Europe (Germany, U.K., France, Italy, Spain, Netherlands, Rest of Europe)
⇥ Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
⇥ South America (Brazil, Argentina, Chile, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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