Ionic Exchange Based Liquid Nuclear Waste Treatment Market Future Demand, Growth, Share and Analysis with forecast 2024

Global Ionic Exchange based Liquid Nuclear Waste Treatment Market: Snapshot

Liquid nuclear waste generated from nuclear reactors needs intensive treatment before it can be disposed into the environment. International agencies such as International Atomic Energy, Department of Energy (DoE) USA, and World Nuclear Organization have framed stringent regulations for the storage and treatment of radioactive waste.

Nuclear plants across the world are increasing in number to complement fossil fuels sourced energy to serve the growing energy needs. Nuclear plants have the advantage of producing cheap and sustainable energy that has high thermal efficiency and do not produce pollutants as well. Therefore, the growth in nuclear plants would require a large volume of liquid nuclear waste to be treated.

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Posing a hindrance to the growth of ionic exchange based liquid nuclear waste treatment market are a few factors that include high capital required for the construction of nuclear power plants and waste treatment facilities and rising popularity of solar and wind power to complement fossil fuels sourced energy.

As per a report by Transparency Market Research, the global ionic exchange based liquid nuclear waste treatment market is projected to expand at a healthy CAGR of 12.1% between 2017 and 2025. Rising at this pace, the market will become worth US$2,276.9 mn by 2025 from US$803,8 mn in 2016.

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Inorganic Natural Ion Exchangers Display Widespread Usage amongst other Ion Exchangers

In terms of ionic exchange processing, the segments into which the global ionic exchange liquid nuclear waste treatment market is divided are inorganic natural ion exchangers, organic natural ion exchangers, synthetic inorganic ion exchangers, synthetic organic ion exchangers, and others. Among all, inorganic natural ionic exchangers are most widely used for treating liquid radioactive waste. However, other ionic exchangers such as organic natural ionic exchangers, synthetic inorganic ionic exchangers, modified natural ionic exchangers, and synthetic organic ionic exchangers are also employed considerably.

The components of the global ionic exchange liquid nuclear waste treatment market based on waste type are low level waste, intermediate level waste, and high level waste. While low level and intermediate level liquid nuclear waste can be effectively treated using ionic exchanges, the treatment of high level waste is a multi-tiered process. It needs to be stored in underground storage far from human intervention for a considerable period of time for its radioactivity to decay naturally. On attaining permissible limits of radioactivity, the nuclear waste is subject to ionic exchange treatment.

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Asia Pacific to Emerge Attractive in Forthcoming Years

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the key regional segments into which the global ionic exchange based liquid nuclear waste treatment market is segmented in this report. In 2016, Europe led the ionic exchange based liquid nuclear waste treatment market accounting for more than 49% share in terms of revenue. Countries such as Germany, France, the U.K., and Russia are primarily driving the Europe ionic exchange based liquid nuclear waste treatment market.

Asia Pacific is expected to display an increased market share over the forecast period. The growth of this regional market for ionic exchange based liquid nuclear waste treatment is ascribed to economic development in emerging economies and consistently rising energy needs. Moreover, factors such as availability of nuclear technology, increasing demand for clean and sustainable energy, and adequate suppliers of nuclear fuel are acting in favor of the growth of this regional market.

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North America, powered by the U.S, is a mature market for ionic exchange based liquid nuclear waste treatment as the region is home to some well-established players.

Key companies that operate in the global ionic exchange based liquid nuclear waste treatment market include Areva SA, Bechtel Corporation, Augean plc, SRCL Limited, Fluor Corporation, and Svensk Kärnbränslehantering AB.

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