Global Uranium Enrichment and Uranium Conversion Market Growth 2025-2031

The global Uranium Enrichment and Uranium Conversion market size is predicted to grow from US$ 1200 million in 2025 to US$ 2169 million in 2031; it is expected to grow at a CAGR of 10.4% from 2025 to 2031.

The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.

Uranium conversion and uranium enrichment are two key steps in the nuclear fuel production chain, mainly used to process natural uranium into nuclear fuel that can be used in nuclear reactors. Natural uranium mainly exists in the form of uranium oxide (U₃O₈, commonly known as yellowcake), which contains about 99.3% U-238 and only 0.7% U-235 (fissile isotopes). In the conversion stage, the yellowcake is first chemically treated and converted into gaseous uranium hexafluoride (UF₆), which is convenient for subsequent physical separation of higher concentrations of U-235. The conversion product UF₆ is usually stored in closed containers and used as a direct raw material for the uranium enrichment process.

Uranium enrichment refers to the use of centrifuge, laser or diffusion techniques to increase the U-235 content in UF₆ from 0.7% in its natural state to 3%–5% to meet the fuel requirements of nuclear power plants such as light water reactors. The process unit is expressed in SWU (separative work unit), which is used to measure the amount of work required to separate different isotopes. The enriched uranium remains in the form of UF₆, which is then converted into UO₂ powder, pressed into fuel pellets and loaded into fuel assemblies for use in nuclear power plants. Both the uranium enrichment and conversion processes are under the international nuclear non-proliferation regulatory system and are subject to strict technical and trade controls.

According to statistics from the 2017 WNA Nuclear Fuel Report, the production capacity of uranium hexafluoride, a major international uranium conversion supplier, is 52,600 tU (UF6)/a, and the actual estimated total production is 41,800 tons. According to UxC statistics, the secondary supply volume in the global market in 2018 was approximately 35,000 tons.

LP Information, Inc. (LPI) ' newest research report, the “Uranium Enrichment and Uranium Conversion Industry Forecast” looks at past sales and reviews total world Uranium Enrichment and Uranium Conversion sales in 2024, providing a comprehensive analysis by region and market sector of projected Uranium Enrichment and Uranium Conversion sales for 2025 through 2031. With Uranium Enrichment and Uranium Conversion sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Uranium Enrichment and Uranium Conversion industry.

This Insight Report provides a comprehensive analysis of the global Uranium Enrichment and Uranium Conversion landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Uranium Enrichment and Uranium Conversion portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Uranium Enrichment and Uranium Conversion market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Uranium Enrichment and Uranium Conversion and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Uranium Enrichment and Uranium Conversion.

This report presents a comprehensive overview, market shares, and growth opportunities of Uranium Enrichment and Uranium Conversion market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Uranium Enrichment
Uranium Conversion

Segmentation by Application:
Nuclear Fuel Manufacturing
Radioisotope Production
Nuclear Power Plants
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Orano
Cameco
ConverDyn
Rosatom
Urenco
China National Nuclear Corporation
Kazatomprom
Japan Nuclear Fuel Limited

Key Questions Addressed in this Report

What is the 10-year outlook for the global Uranium Enrichment and Uranium Conversion market?

What factors are driving Uranium Enrichment and Uranium Conversion market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Uranium Enrichment and Uranium Conversion market opportunities vary by end market size?

How does Uranium Enrichment and Uranium Conversion break out by Type, by Application?

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