Market insights

  Nuclear materials market size is forecast to reach US$94.8 billion by 2027, after growing at a CAGR of 3.5% during 2022-2027, owing to the rising demand for nuclear materials such as plutonium isotopes, thorium, and uranium from various end-use industries such as medical, energy & power, aerospace, oil and gas, and others. The nuclear materials industry is driven by an increase in demand for electricity generation across the world. In addition, the demand for the nuclear materials market is been accelerated with the growing demand for its use in the aircraft and marine industry. Furthermore, the rapid growth of the defense sector has also increased its demand, thereby, enhancing the growth of the nuclear materials market. All these factors accumulatively are driving the growth of the nuclear materials market and is anticipated to drive the growth during the forecast period. COVID-19 Impact  The nuclear materials market was affected by the COVID-19 pandemic in 2020, due ...