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Uranium Market - New Industry Research Report Is Now Available for Pre-Order at Transparency Market Research
Date:7/27/2013

Albany, New York (PRWEB) July 27, 2013

Uranium is mostly used in nuclear power plants to generate electricity. The rising demand for electricity and the capacity of nuclear reactors is driving the uranium market. The global uranium market is expected to witness significant growth in next six years. Nearly 75% of uranium supply is through mining activity and it is expected to grow further in the coming years.

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Other secondary sources of uranium include civil stockpiles, recycled uranium, and ex-military weapons-grade uranium. It is expected that there will be a balance between the demand and the supply as the number of new reactors being constructed and old plants retiring is nearly the same.

In the next six years, it is expected that China, Russia, India, the Middle East, and Europe will expand their use of nuclear energy, creating intense competition for mined uranium. China and Russia are the fastest growing markets and they have already started buying huge stakes in uranium mining operations.

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In 2011, after the incident of Fukushima Daiichi reactor owing to Japan’s tsunami and earthquake, the uranium market might witness slow growth. Shortage of uranium may be experienced in the next few years in spite of the abundance of uranium in the earth’s crust, but it takes many years to build and finance uranium mining operations.

Some of the major factors driving the market are the growing
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