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Technology Information:
Future Of The Global Energy
Nuclear Fuel Processing Industry To 2020
The Future of the Global Nuclear Fuel Processing Industry to 2020
The nuclear fuel processing industry plays a critical role in sustaining the importance of nuclear power in the global energy mix. The report provides an in-depth analysis of the uranium conversion facilities, key players and market shares of some companies in the uranium conversion segment. The report includes an analysis of the global uranium enrichment market and forecasts up to 2020 and also provides information and analysis on the global nuclear fuel fabrication market.
The Nuclear Fuel Processing Market to Grow at an AAGR of 6.4% during 2009–2020
The total market for the nuclear fuel processing industry will increase at an average annual growth rate (AAGR) of 6.4% from $20.8 billion in 2009 to $42.1 billion by 2020. This increase can be explained by the growth in the installed nuclear power capacity globally due to the addition of new reactors in the forecast period. The economic advantages associated with nuclear power, the lower cost of nuclear fuel as a percentage of the total generation costs and plant life extensions in some countries are some of the key reasons for this growth.
Asia-Pacific will Experience the Highest Growth in the Uranium Enrichment Market
The market for uranium enrichment services will grow most rapidly in the Asia-Pacific region with an increase of over 150% from $1.7 billion in 2009 to $4.3 billion by 2020. This represents an AAGR of 8.4% during the period. The increase is because of the addition of reactors that need enriched fuel in countries such as China, India, the Republic of Korea and Japan. Japan currently has the largest market for enriched uranium in the region with a revenue generation of $1 billion which will increase to $2 billion by 2020. India will have the highest growth rate in terms of revenue generation, increasing from its present value of $33m to $207m by 2020 at an AAGR of 16.5%.
The Global Uranium Conversion Segment will see the Highest Growth Rate in the Global Nuclear Fuel Processing Market
The market for uranium conversion services will experience the highest growth rate of all the segments in the global nuclear fuel processing industry, which includes uranium mining and milling, conversion, enrichment and fabrication services. The global uranium conversion market was worth $0.7 billion in 2009 and will be worth $1.4 billion by the end of 2020 after growing at an AAGR of 6.6% over the period and 1.7% in volume terms. The enrichment and fabrication markets will grow at an AAGR of 1.4% and 1.4%, respectively, over the same per
iod in terms of volume.
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