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LONDON, UNITED KINGDOM --(Marketwired - February 29, 2016) - The reputation of uranium as an abundant source of concentrated energy has been long established. While the questions of its commercial viability and safety in the power sector are still largely debatable subject to various agendas and future scenarios of energy market development, uranium has already been used in energy-related applications for years. In case of thorium-bearing fuels, the situation is less clear. There have been several significant demonstrations of the use of thorium-based fuels to generate electricity in different reactor types.
Several countries conduct research into its potential use as a nuclear energy source. Among those are China, India, and Norway. For example, Thor Energy (Norway) is developing and testing thorium-bearing fuels for existing nuclear power plants. There is a number of exploration and development projects related to thorium in India, the USA, Canada, Brazil, and South Africa.
However, the future prospects of thorium's energy applications might not be particularly bright. Thorium consumption is quite small in the global market due to concerns about its naturally occurring radioactivity. There are also a number of complexities associated with the design of thorium fuel systems. As for uranium, its prospects look much better, but still somewhat uncertain judging by a range of technological, commercial, environmental and other concerns and challenges. However, the uranium demand is backed primarily by large installed capacity of nuclear energy market. According to the World Nuclear Association, as of January 1, 2016, there were 439 operable power reactors (66 reactors are under construction) in the world with combined capacity of over 382 gigawatts of electricity, and these reactors annually require about 67000 tonnes of uranium. The uranium market will be also supported by strong nuclear lobbying camp and slow pace of alternative energy development.
In-demand research report "Uranium and Thorium: 2016 World Market Review and Forecast" worked out by Merchant Research & Consulting, Ltd. have been recently uploaded at http://mcgroup.co.uk/.
Title: Uranium and Thorium: 2016 World Market Review and Forecast
Date: January, 2016
Price: US$ 2,550.0
This report is an unrivalled source of reliable information on the performance (both historical and forecast) of the world uranium and thorium market. It presents detailed statistics on production and consumption, foreign trade and prices on different geographical scales. The research study describes the competitive scenario in detail, reviews the top market participants, explores the major market growth opportunities and challenges, examines the key drivers and restraints of the market growth as well as discusses trends prevailing in the global uranium and thorium market. Moreover, the research report provides five-year forecasts for the possible future development of the global uranium and thorium market.
Other topical research studies by Merchant Research & Consulting can be found at the company's official website.
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