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 study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Nuclear Waste Recycling Market

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