Global Uranium Production and Production Capacity 2006-15
Uranium industry plays a critical role in sustaining the importance of nuclear power in the global energy mix. The report tracks expansion plans across the global uranium industry, uranium production and demand forecasts to 2015. The report also includes key industry challenges and outlook of major uranium producing countries.
This report is built using data and information sourced from proprietary databases, primary and secondary research and in house analysis by Global Markets Direct’s team of industry experts.
Uranium Production to Increase Significantly by 2015
The global uranium production is expected to grow significantly in the long term due to the increasing demand for nuclear power worldwide. Global Markets Direct estimates that the uranium production in the world will grow from 44,361 tU in 2008 to 110,000 tU by the end of 2015. Increased production is primarily due to the operation of new mines and planned expansion of capacity of producing mines. The report also details that, in the long term, the current gap in the uranium supply and demand is expected to reduce.
Uranium Demand to Increase with the Operation of New Reactors
The global demand for uranium as nuclear fuel will increase driven by increased global installed nuclear capacity. As per Global Markets Direct’s estimates, the global uranium demand will increase to 70,323 tU by 2015. The increased uranium demand is due to the operation of more than 40 new reactors that are currently under construction in countries such as China, India, Russia and Republic of Korea.
Growing Nuclear Power Demand and Increased Attention towards Carbon Reductions to Indirectly Drive Growth in the Uranium Industry
Many countries across the world are planning to develop power in order to address their concerns on electricity demand growth, crude oil price fluctuations and reducing carbon emissions. These concerns coupled with the benefits associated with uranium such as high energy value of uranium and economic advantages of producing uranium play a critical role in driving the growth of the global uranium industry.
Asia-Pacific Region to Drive Uranium Demand Growth
The Asia-Pacific region is set to lead global demand for uranium. Many of the countries in the region have plans to develop nuclear power to meet their growing demand for power. Global Markets Direct estimates that the region has a total of 116 planned and under construction reactors, which account for more than half of the total upcoming reactors in the world. This will lead to an increase in uranium demand from its current levels of 14,535 tU to 18,171 tU by 2015, representing a cumulative growth rate of 4.3%,.the highest growth rate for uranium demand shown by a region.
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