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Global Uranium Market to Reach 53.1 Thousand Tons by 2030

The global market for Uranium estimated at 48.2 Thousand Tons in the year 2024, is expected to reach 53.1 Thousand Tons by 2030, growing at a CAGR of 1.6% over the analysis period 2024-2030.

The U.S. Market is Estimated at 13.1 Thousand Tons While China is Forecast to Grow at 2.7% CAGR

The Uranium market in the U.S. is estimated at 13.1 Thousand Tons in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of 9.8 Thousand Tons by the year 2030 trailing a CAGR of 2.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.0% and 1.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.1% CAGR.

Global Uranium Market - Key Trends and Drivers Summarized

What Is Uranium and How Is It Utilized?

Uranium is a heavy metal with significant energy potential, primarily used as fuel in nuclear power plants. Discovered in 1789 by Martin Heinrich Klaproth, uranium's most common isotope, U-235, is renowned for its ability to sustain a nuclear chain reaction. This property makes uranium a critical resource for generating nuclear energy, which provides a substantial portion of the world's electricity. Beyond energy production, uranium is also used in various industrial and medical applications, such as radiation shielding, cancer treatment through radiation therapy, and as a counterweight in aircraft and industrial machinery. The mining and processing of uranium involve extracting ore from the ground, crushing and treating it chemically to obtain yellowcake, which is then enriched and fabricated into fuel rods for nuclear reactors.

How Is Technology Enhancing Uranium Extraction and Processing?

Technological advancements are continuously improving the efficiency and environmental sustainability of uranium extraction and processing. In-situ recovery (ISR) is one of the leading innovations, allowing uranium to be dissolved and pumped out from underground deposits without extensive surface disruption. This method reduces the environmental footprint compared to traditional open-pit mining. Additionally, advancements in geophysical and geochemical exploration techniques have increased the accuracy of locating uranium deposits, ensuring more efficient extraction processes. On the processing side, improvements in enrichment technologies, such as gas centrifuges, have enhanced the ability to produce fuel-grade uranium with higher energy yields. Furthermore, innovations in waste management are addressing the challenges of handling radioactive byproducts, focusing on reducing the long-term environmental impact and ensuring safer disposal.

What Are the Major Trends and Challenges in the Uranium Market?

The uranium market is influenced by several key trends and challenges that shape its dynamics. One significant trend is the growing interest in nuclear energy as a low-carbon power source amid global efforts to combat climate change. This has led to a resurgence in nuclear power plant construction, particularly in Asia, where countries like China and India are expanding their nuclear capacities. However, the market faces challenges such as fluctuating uranium prices, which are influenced by geopolitical factors, supply disruptions, and varying demand from nuclear reactors. Another challenge is public perception and regulatory hurdles, driven by concerns over nuclear safety and radioactive waste management. The Fukushima Daiichi nuclear disaster in 2011 significantly impacted public opinion and policy, leading to stricter regulations and a re-evaluation of nuclear energy strategies worldwide. Despite these challenges, ongoing research into advanced nuclear technologies, such as small modular reactors (SMRs) and next-generation reactors, holds promise for the future of uranium in energy production.

What Drives the Growth in the Uranium Market?

The growth in the uranium market is driven by several factors, including technological advancements, expanding applications, and evolving energy policies. The increasing demand for low-carbon energy solutions is a significant driver, as nuclear power provides a stable and efficient alternative to fossil fuels, aligning with global carbon reduction goals. Technological innovations in nuclear reactor design, such as SMRs and thorium reactors, are enhancing the safety and efficiency of nuclear power, thereby increasing the demand for uranium. The expansion of nuclear energy programs in emerging economies, particularly in Asia and the Middle East, is also propelling market growth. Additionally, the development of new uranium mining projects and the optimization of existing operations are ensuring a steady supply to meet the rising demand. Investments in research and development are further advancing uranium extraction, processing, and waste management technologies, making the market more resilient and sustainable. These factors, combined with favorable government policies and international cooperation on nuclear energy, are driving the robust growth and dynamic evolution of the uranium market.

SCOPE OF STUDY:

The report analyzes the Uranium market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:

Segment (Uranium)

Geographic Regions/Countries:

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 81 Featured) -

• ARMZ Uranium Holding Co.
• BHP Group Limited
• Cameco Corp.
• China National Nuclear Corporation
• Energy Asia Group Pte., Ltd.
• NAC Kazatomprom JSC
• Navoi Mining and Metallurgical Combinat State Company
• Orano
• Paladin Energy Ltd.
• Rio Tinto PLC
• Uranium One Inc.

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TARIFF IMPACT FACTOR

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TABLE OF CONTENTS

I. METHODOLOGY

II. EXECUTIVE SUMMARY

• 1. MARKET OVERVIEW
  • Trade Shocks, Uncertainty, and the Structural Rewiring of the Global Economy
  • Global Economic Update
  • Uranium - Global Key Competitors Percentage Market Share in 2025 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E)
• 2. FOCUS ON SELECT PLAYERS
• 3. MARKET TRENDS & DRIVERS
  • Growing Demand for Low-Carbon Energy Solutions Drives Adoption of Uranium
  • Advances in Nuclear Reactor Technology Propel Growth in Uranium Market
  • Expansion of Nuclear Energy Programs in Emerging Economies Expands Addressable Market Opportunity
  • Impact of Geopolitical Factors and Supply Disruptions on Uranium Prices
  • Increasing Investment in Uranium Mining and Exploration Strengthens Business Case for Market Growth
  • Development of Small Modular Reactors (SMRs) Generates New Market Segments
  • Trends in Radioactive Waste Management Technologies Sustain Growth and Environmental Compliance
  • Growing Interest in Thorium Reactors and Alternative Nuclear Technologies Spurs Demand for Uranium
  • Public Perception and Acceptance of Nuclear Energy Drives Adoption of Uranium-Based Power
  • Advances in Geophysical and Geochemical Exploration Techniques Improve Efficiency and Resource Utilization
  • Rising Costs and Technological Challenges in Traditional Mining Methods Propel Innovations in In-Situ Recovery (ISR)
• 4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Uranium Market Analysis of Annual Sales in Tons for Years 2015 through 2030
  • TABLE 2: World Recent Past, Current & Future Analysis for Uranium by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in Tons for Years 2024 through 2030 and % CAGR
  • TABLE 3: World Historic Review for Uranium by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
  • TABLE 4: World 15-Year Perspective for Uranium by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2015, 2025 & 2030

III. MARKET ANALYSIS

• UNITED STATES
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2025 (E)
  • TABLE 5: USA Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 6: USA Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• CANADA
  • TABLE 7: Canada Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 8: Canada Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• JAPAN
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2025 (E)
  • TABLE 9: Japan Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 10: Japan Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• CHINA
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2025 (E)
  • TABLE 11: China Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 12: China Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• EUROPE
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2025 (E)
  • TABLE 13: Europe Recent Past, Current & Future Analysis for Uranium by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in Tons for Years 2024 through 2030 and % CAGR
  • TABLE 14: Europe Historic Review for Uranium by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
  • TABLE 15: Europe 15-Year Perspective for Uranium by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets for Years 2015, 2025 & 2030
• FRANCE
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2025 (E)
  • TABLE 16: France Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 17: France Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• GERMANY
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2025 (E)
  • TABLE 18: Germany Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 19: Germany Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• ITALY
  • TABLE 20: Italy Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 21: Italy Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• UNITED KINGDOM
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2025 (E)
  • TABLE 22: UK Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 23: UK Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• SPAIN
  • TABLE 24: Spain Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 25: Spain Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• RUSSIA
  • TABLE 26: Russia Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 27: Russia Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• REST OF EUROPE
  • TABLE 28: Rest of Europe Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 29: Rest of Europe Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• ASIA-PACIFIC
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2025 (E)
  • TABLE 30: Asia-Pacific Recent Past, Current & Future Analysis for Uranium by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in Tons for Years 2024 through 2030 and % CAGR
  • TABLE 31: Asia-Pacific Historic Review for Uranium by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
  • TABLE 32: Asia-Pacific 15-Year Perspective for Uranium by Geographic Region - Percentage Breakdown of Value Sales for Australia, India, South Korea and Rest of Asia-Pacific Markets for Years 2015, 2025 & 2030
• AUSTRALIA
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2025 (E)
  • TABLE 33: Australia Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 34: Australia Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• INDIA
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2025 (E)
  • TABLE 35: India Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 36: India Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• SOUTH KOREA
  • TABLE 37: South Korea Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 38: South Korea Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• REST OF ASIA-PACIFIC
  • TABLE 39: Rest of Asia-Pacific Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 40: Rest of Asia-Pacific Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• LATIN AMERICA
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2025 (E)
  • TABLE 41: Latin America Recent Past, Current & Future Analysis for Uranium by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in Tons for Years 2024 through 2030 and % CAGR
  • TABLE 42: Latin America Historic Review for Uranium by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
  • TABLE 43: Latin America 15-Year Perspective for Uranium by Geographic Region - Percentage Breakdown of Value Sales for Argentina, Brazil, Mexico and Rest of Latin America Markets for Years 2015, 2025 & 2030
• ARGENTINA
  • TABLE 44: Argentina Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 45: Argentina Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• BRAZIL
  • TABLE 46: Brazil Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 47: Brazil Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• MEXICO
  • TABLE 48: Mexico Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 49: Mexico Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• REST OF LATIN AMERICA
  • TABLE 50: Rest of Latin America Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 51: Rest of Latin America Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• MIDDLE EAST
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2025 (E)
  • TABLE 52: Middle East Recent Past, Current & Future Analysis for Uranium by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in Tons for Years 2024 through 2030 and % CAGR
  • TABLE 53: Middle East Historic Review for Uranium by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
  • TABLE 54: Middle East 15-Year Perspective for Uranium by Geographic Region - Percentage Breakdown of Value Sales for Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets for Years 2015, 2025 & 2030
• IRAN
  • TABLE 55: Iran Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 56: Iran Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• ISRAEL
  • TABLE 57: Israel Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 58: Israel Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• SAUDI ARABIA
  • TABLE 59: Saudi Arabia Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 60: Saudi Arabia Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• UNITED ARAB EMIRATES
  • TABLE 61: UAE Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 62: UAE Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• REST OF MIDDLE EAST
  • TABLE 63: Rest of Middle East Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 64: Rest of Middle East Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR
• AFRICA
  • Uranium Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2025 (E)
  • TABLE 65: Africa Recent Past, Current & Future Analysis for Uranium by Segment - Uranium - Independent Analysis of Annual Sales in Tons for the Years 2024 through 2030 and % CAGR
  • TABLE 66: Africa Historic Review for Uranium by Segment - Uranium Markets - Independent Analysis of Annual Sales in Tons for Years 2015 through 2023 and % CAGR

IV. COMPETITION