Global Nuclear Waste Recycling Market: Introduction

  • The most extensively used method for disposal of nuclear waste is to bury it deep under the ground. High level of radioactive wastes require deeper grounds, as they are extremely toxic and dangerous.
  • Nuclear waste is recyclable. Once the reactor fuel i.e. uranium or thorium is used in the reactor, it can be treated and put into another reactor as a fuel.
  • Recycling of used fuel to recover uranium and plutonium (Pu) avoids wastage of a valuable resource. Most of the used fuel i.e. about 96% is uranium, less than 1% is U-235, and up to 1% is plutonium.
  • According to the World Nuclear Association, from 2010 to 2030, around 400,000 tons of used fuel is expected to be generated worldwide. Out of this, 60,000 tons is expected to be generated in North America and 69,000 tons in Europe.

Key Drivers of Global Nuclear Waste Recycling Market

  • Nuclear power plant decommissioning activities generate a lot of radioactive waste, which requires several years for total cleanup. Decommissioning would become an increasingly important part of the nuclear sector activity, as several reactors are expected to reach their technical lifespan very soon. This would boost the demand for nuclear waste recycling services. To date, over 110 commercial power reactors, over 250 research reactors, 48 prototype reactors, and a large number of fuel cycle facilities have been retired from operation.
  • Government regulations to minimize harmful emissions are increasing in number continuously. Various environmental agencies are focusing on the usage of efficient energy. This has led to adoption of eco- friendly alternatives. Worldwide use of nuclear power reduces emissions of CO2 by 2% annually. Hence, a majority of countries are investing significantly in nuclear power plants. This would provide lucrative opportunities to the global nuclear waste recycling market in the near future.
  • Handling nuclear waste and maintenance materials is highly difficult. Lack of awareness regarding proper collection and segregation of recycled waste and that of skilled labor are major factors restraining the global nuclear waste recycling market. Furthermore, high initial investments also restrain the market.

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Chemical Waste and Thermal Treatment Segments to Witness Attractive Opportunities

  • The global nuclear waste recycling market can be segmented based on waste source, reactor type, and region
  • In terms of waste source, the global nuclear waste recycling market can be divided into nuclear power reactors, nuclear fuel cycle facilities, and others. The nuclear power reactors segment dominated the global nuclear waste recycling market in 2018.
  • Based on reactor type, the global nuclear waste recycling market can be classified into light water reactor (LWR) and heavy water reactor (HWR)

Europe to Hold a Major Share of Global Nuclear Waste Recycling Market

  • In terms of region, the global nuclear waste recycling market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Europe dominated the global nuclear waste recycling market in 2018. France leads the Europe as well as global nuclear waste recycling market. Recycling spent nuclear fuel is a major challenge for nuclear plant operators, as it contains highly toxic radioactive material. The La Hague nuclear reprocessing facility in France has been built to recycle spent nuclear fuel.
  • The U.K is also another significant market for nuclear waste recycling in Europe. The Thorp facility in the U.K., which was opened in 1994, has processed 9,331 tons of used nuclear fuel from 30 customers in nine countries worldwide since then.
  • The market in Asia Pacific is expected to expand at the maximum CAGR during the forecast period. Increasing number of nuclear power plants as well as nuclear fuel recycling facilities is driving the market in the region. In January 2011, India opened a new nuclear fuel recycling facility in Tarapur, Maharashtra. This facility would be breaking down highly radioactive, used nuclear fuel to extract uranium and plutonium for reuse in fast neutron reactors.
  • In terms of revenue, India and Japan are key contributors to the Asia Pacific nuclear waste recycling market
  • The nuclear waste recycling market in North America is expected to expand at a sluggish pace during the forecast period. According to the World Nuclear Association, the number of operable reactors in the U.S. was 99 in 2017.

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Key Players Operating in Global Nuclear Waste Recycling Market

The global nuclear waste recycling market is highly concentrated, with major manufacturers accounting for approximately 40%–45% of the market share. Some of the key players operating in the global nuclear waste recycling market are:

  • Orano Group
  • JGC Holdings Corporation
  • EDF
  • Tokyo Electric Power Company Holdings, Inc.

Global Nuclear Waste Recycling Market: Research Scope

Global Nuclear Waste Recycling Market, by Waste Source

  • Nuclear Power Reactors
  • Nuclear Fuel Cycle Facilities
  • Others

Global Nuclear Waste Recycling Market, by Reactor Type

  • Light Water Reactor (LWR)
  • Heavy Water Reactor (HWR)

Global Nuclear Waste Recycling Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Mexico
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

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All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

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Nuclear Waste Recycling Market