Nuclear Power Plant Construction Boom Fueling Billion Dollar Growth for Uranium Market
The main types of uranium ore are granite-type uranium deposits, volcanic-type uranium deposits, sandstone-type uranium deposits, and carbonate-siliceous-pelitic rock-type uranium deposits.
- The main types of uranium ore are granite-type uranium deposits, volcanic-type uranium deposits, sandstone-type uranium deposits, and carbonate-siliceous-pelitic rock-type uranium deposits.
- It will grow from $1.11 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%.
- The growth in the historic period can be attributed to the nuclear power plant construction boom, the cold war and military demand, the Chernobyl and three-mile island incidents, global economic trends, and changes in the regulatory environment.
- Business Research concluded: “Rising nuclear fuel consumption is expected to propel the growth of the uranium ore market going forward.