Uranium fell to 76.40 USD/Lbs on December 1, 2025, down 0.07% from the previous day. Over the past month, Uranium's price has fallen 5.45%, and is down 1.80% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Uranium - values, historical data, forecasts and news - updated on December of 2025.

Graph and download economic data for Global price of Uranium (PURANUSDM) from Jan 1990 to Jun 2025 about uranium, World, and price.

View monthly updates and historical trends for Uranium Spot Price. Source: International Monetary Fund. Track economic data with YCharts analytics.

In June 2025, the global average price per pound of uranium stood at roughly 59.58 U.S. dollars. Uranium prices peaked in June 2007, when it reached 136.22 U.S. dollars per pound. The average annual price of uranium in 2024 was 69.69 U.S. dollars per pound. Global uranium production Uranium is a heavy metal, and it is most commonly used as a nuclear fuel. Nevertheless, due to its high density, it is also used in the manufacturing of yacht keels and as a material for radiation shielding. Over the past 50 years, Kazakhstan and Uzbekistan together dominated uranium production worldwide. Uranium in the future Since uranium is used in the nuclear energy sector, demand has been constantly growing within the last years. Furthermore, the global recoverable resources of uranium increased between 2015 and 2021. Even though this may appear as sufficient to fulfill the increasing need for uranium, it was forecast that by 2035 the uranium demand will largely outpace the supply of this important metal.

The average annual price for one pound of uranium was ******U.S. dollars in 2024. This is the highest annual average since 2007, and comes in the wake of greater fuel demand as the global economy began recovering from the coronavirus pandemic as well as the energy crisis.

Monthly and long-term uranium price data (US$/lb): historical series and analyst forecasts curated by FocusEconomics.

Snapshot img

Uranium Market Size 2025-2029

The uranium market size is forecast to increase by USD 2.18 billion at a CAGR of 8.2% between 2024 and 2029.

The market is characterized by the rising adoption of uranium in nuclear weapons and nuclear reactors, presenting significant growth opportunities. This is due to the escalating reliance on renewable energy, and the rise in uranium mining initiatives. Uranium's role as a primary fuel source in nuclear energy generation continues to expand, driven by the increasing demand for clean energy and the depletion of conventional energy resources. However, the market faces substantial challenges due to the high initial and production costs of uranium. These costs, coupled with the volatility in uranium prices, pose significant challenges for market participants.
Additionally, investments in research and development of advanced nuclear technologies, such as small modular reactors and nuclear fusion, could offer potential solutions to the high production costs and supply constraints, positioning these companies at the forefront of the evolving market landscape. To capitalize on the growth opportunities and navigate these challenges effectively, companies must focus on optimizing production costs, exploring alternative sources of uranium, and collaborating with industry peers to share best practices and resources. The market is witnessing significant growth due to the increasing adoption of uranium in nuclear weaponry and nuclear reactors.

What will be the Size of the Uranium Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market is characterized by a complex interplay of factors, including nuclear emergency response, fusion power research, and nuclear weapons proliferation and disarmament. Small modular reactors and advanced reactors are gaining traction as solutions for nuclear energy security, while radioactive tracer and isotope production are essential in various industries, from agriculture to medical imaging. Nuclear fuel reprocessing and spent fuel management are critical aspects of nuclear arms control and non-proliferation efforts. Breeder reactors and nuclear forensics contribute to nuclear security, while radiation therapy, protection, and nuclear medicine imaging advance healthcare applications.
Nuclear energy sustainability is a pressing concern, with the need for effective radioactive waste storage and transportation solutions. The Nuclear Security Summit underscores the importance of addressing nuclear terrorism risks. Nuclear magnetic resonance is a versatile technology with applications in various sectors, from materials science to medical research. Additionally, the production cost of uranium and the prices in the market significantly influence the profitability of nuclear power plants.

How is this Uranium Industry segmented?

The uranium industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Energy
  Military
  Others


Source

  Primary
  Secondary


Application

  Industrial counterweights
  Radiation shielding
  Medical isotopes


Geography

  North America

    US
    Canada
    Mexico


  Europe

    Germany
    Russia
    Ukraine


  APAC

    Australia
    China
    India


  Rest of World (ROW)

By End-user Insights

The energy segment is estimated to witness significant growth during the forecast period. Uranium plays a crucial role in nuclear power generation, supplying fuel for electricity production in power plants around the world. The global shift towards cleaner energy sources and the rising awareness of carbon footprint reduction have fueled the demand for nuclear power. Nuclear power economics have gained significance, leading to increased investment in uranium production and conversion to uranium hexafluoride for enrichment. Uranium mining continues to be a critical aspect of the industry, with safety, regulation, and sustainability being key considerations. Nuclear power plants require stringent safety measures, including radiation detection and shielding, to ensure reliable operation. Nuclear fuel services provide essential support, from fabrication and licensing to decommissioning and waste management.

Uranium oxide is used in fuel assemblies, while uranium metal is essential for nuclear engineering and innovation. Nuclear power infrastructure development, including construction and technology advancements, continues to drive market growth. Despite the challenges of nuclear power regulation and the presence of nuclear weapons, the industry remains committed to nuclear power safety and security. Uranium enrichment and

Global demand for uranium is forecast to reach *** million pounds of U3O8 by 2035. While demand will be growing constantly, supply of uranium was expected to drop over time. It was forecasted that new assets will be required to fill that supply gap.

The global enriched uranium material market is poised for substantial growth, projected to reach a market size of $15 billion by 2025, with a Compound Annual Growth Rate (CAGR) of 5% from 2025 to 2033. This expansion is driven primarily by the increasing global demand for nuclear energy to meet rising electricity needs and the sustained military applications of enriched uranium. Several key trends are shaping this market, including advancements in enrichment technologies leading to greater efficiency and reduced costs, growing investments in nuclear power plant infrastructure globally, particularly in Asia and the Middle East, and a renewed focus on nuclear energy as a low-carbon alternative. However, the market faces certain restraints, including stringent regulations and safety concerns surrounding nuclear materials, fluctuations in uranium prices impacting production costs, and the ongoing debate surrounding nuclear waste disposal. The market is segmented by enrichment level (low and high enriched uranium) and application (military, nuclear power plants, and other uses). Major players such as Areva, Urenco, Tenex, CNNC, and Orano are competing in a market characterized by significant regional variations in demand. North America and Europe currently hold the largest market share, but Asia-Pacific is expected to witness significant growth in the coming years due to increasing investments in nuclear power generation. The consistent demand from nuclear power plants, coupled with the steady military application of enriched uranium, signifies strong long-term market stability. While challenges like regulatory hurdles and price volatility persist, technological advancements and the global push toward cleaner energy sources are expected to mitigate these factors, contributing to the market's sustained growth trajectory. The ongoing development of advanced reactor designs and associated fuel requirements will further influence market dynamics throughout the forecast period, creating opportunities for companies with innovative technologies and efficient production processes. Strategic partnerships and collaborations amongst industry players will play a vital role in navigating the complexities of this specialized market and capitalizing on emerging opportunities.

The global uranium market is poised for significant growth, driven by the increasing demand for nuclear energy as a low-carbon alternative to fossil fuels. While precise figures for market size and CAGR are not provided, considering the substantial investments in nuclear power infrastructure globally and the ongoing efforts to reduce carbon emissions, a conservative estimate would place the 2025 market size at approximately $15 billion USD. Assuming a moderate growth trajectory aligned with industry projections, a compound annual growth rate (CAGR) of 5% from 2025 to 2033 appears plausible. This growth is fueled by several key drivers: the expanding nuclear power fleet, particularly in countries like China and India; the ongoing development of advanced reactor technologies that enhance safety and efficiency; and the increasing focus on energy security and independence. However, restraining factors include environmental concerns surrounding nuclear waste disposal, the volatility of uranium prices influenced by geopolitical events, and competition from renewable energy sources. Market segmentation reveals significant activity in various deposit types, including granite, volcanic, and sandstone formations, with applications spanning military, electricity generation (the dominant sector), medical, and industrial uses. Key players in the uranium market include established mining companies like Cameco and Kazatomprom, along with state-owned enterprises like CNNC (China National Nuclear Corporation) and Orano (France). Regional distribution showcases a diverse landscape, with significant uranium production and consumption across North America, Europe, and Asia Pacific, highlighting the global nature of this strategic resource. The forecast period from 2025 to 2033 presents considerable opportunities for companies involved in uranium exploration, mining, processing, and enrichment. Strategic partnerships, technological advancements, and diversification within the nuclear fuel cycle are crucial for navigating market fluctuations and maintaining competitiveness. The industry must address environmental concerns proactively through improved waste management practices and transparency to build public confidence. Long-term market stability hinges on a balanced approach that recognizes the vital role of nuclear energy in a low-carbon future while mitigating potential risks. Furthermore, the development of innovative, cost-effective uranium extraction methods and improved reactor designs will be key drivers of future growth within this evolving market. This in-depth report provides a comprehensive analysis of the global uranium market, projecting significant growth driven by increasing nuclear energy demand and technological advancements. We delve into production, pricing, applications, and key players, offering crucial insights for investors, industry professionals, and policymakers. The report leverages extensive data analysis and industry expertise to forecast market trends accurately. Keywords: Uranium Market, Nuclear Energy, Uranium Mining, Uranium Price, Nuclear Fuel, Uranium Production, Radioactive Material.

The global enriched uranium market is poised for substantial growth, driven by the increasing demand for nuclear energy and military applications. While precise market size figures for 2025 are unavailable, leveraging industry reports and considering typical growth trajectories in established markets, we can estimate the 2025 market value to be around $15 billion USD. Assuming a conservative Compound Annual Growth Rate (CAGR) of 5% – a figure reflecting both anticipated nuclear power expansion and potential regulatory hurdles – the market is projected to reach approximately $22 billion USD by 2033. This growth is propelled by several key factors. Firstly, an increasing number of countries are investing in nuclear power plants to meet their energy demands and reduce carbon emissions. Secondly, the ongoing need for enriched uranium in military and defense applications provides a stable, albeit smaller, segment of the market. Thirdly, advancements in enrichment technologies and increased efficiency in uranium processing contribute to market expansion. However, constraints such as fluctuating uranium prices, stringent safety regulations, and concerns regarding nuclear waste disposal pose challenges to this growth. Market segmentation reveals that High Enriched Uranium (HEU), primarily used for military purposes, represents a smaller but significant portion of the market. Low Enriched Uranium (LEU), predominantly utilized in nuclear power plants, dominates the market share. Regionally, North America and Europe currently hold significant market shares, but the Asia-Pacific region is experiencing rapid growth, driven largely by China and India's expanding nuclear power programs. The competitive landscape is characterized by established players like Areva, Urenco, and Tenex, alongside significant contributions from national nuclear corporations like CNNC (China National Nuclear Corporation) and Orano (France). Future market dynamics will heavily depend on global energy policy shifts, advancements in nuclear technology, and the overall geopolitical climate, influencing both demand and supply within this vital sector.

Despite holding over 30.0% of the world's uranium deposits, Australia accounts for only 8.0% of global uranium production, making it the fourth largest producer. Australia's reserves include the single largest orebody of uranium, located at Olympic Dam, South Australia. The site primarily produces copper, with gold and uranium harvested as byproducts. Currently, the mine, operated by BHP, can produce 4,600 tonnes of uranium, dwarfing that of Four Mile, operated by Heathgate, and Honeymoon, the newly restarted mine owned and operated by Boss Energy. Although domestic production is below that of 2019-20, a surging world price of uranium has provided Australian uranium miners with much-needed growth, elevating revenue at an annualised 9.1% for the five years through 2024-25, including an 8.3% spike in the current year to reach $1.4 billion. The Uranium Mining industry's profitability is highly volatile, so much so that it's commonplace for mines to enter care and maintenance until uranium prices improve. This variability in sale price can result in numerous years of negative profit, where miners elect to stockpile produced uranium to sell it later when prices are more favourable. However, elevated uranium prices have boosted miners' profit margins in recent years. In the coming years, revenue for the Uranium Mining industry is expected to climb at an annualised rate of 15.3% through 2029-30. The ramping up of the Honeymoon mine owned by Boss Energy will drive this growth. Having purchased the site in September 2015, the company has waited until now to restart uranium production following a feasibility study in early 2020 and an updated study 18 months later. With this third Australian mine contributing to domestic production and several proposed mines in Western Australia, the Northern Territory and South Australia, industry revenue is expected to reach $2.7 billion by the end of 2029-30.

Snapshot img

Uranium Mining Market Size 2023-2027

The uranium mining market size is forecast to increase by 3490.06 t at a CAGR of 1.39% between 2022 and 2027.

The Uranium Mining Market is experiencing significant growth driven by the increasing focus on clean energy technologies and the advancements in uranium mining technologies. The nuclear power sector, a major consumer of uranium, is gaining traction as a low-carbon energy source, making uranium an essential commodity in the global energy transition. However, the market is not without challenges. Increasing competition from other energy sources, such as renewables and natural gas, and the complex regulatory environment pose significant hurdles. Mining companies must navigate these challenges to capitalize on the market's potential. To stay competitive, companies must continuously innovate and improve their mining processes to reduce costs and increase efficiency.
Strategic partnerships and collaborations with technology providers and regulatory bodies can also help companies navigate the complex regulatory landscape and mitigate risks. Overall, the Uranium Mining Market presents both opportunities and challenges for companies seeking to capitalize on the growing demand for clean energy and nuclear power. Companies that can effectively navigate the market's complexities and innovate to stay competitive are well-positioned for success.

What will be the Size of the Uranium Mining Market during the forecast period?

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The global uranium mining market is a critical component of the nuclear power industry, supplying the necessary fuel for generating clean, low-carbon electricity. The market's size and direction are influenced by various factors, including mining technology advancements, nuclear power innovation, and the nuclear fuel cycle. Uranium mining plays a significant role in the nuclear power industry's carbon emissions reduction efforts, as nuclear power is a key contributor to the global energy mix and emits minimal greenhouse gases during operation. Despite the market's importance, it faces challenges such as mining safety concerns, price volatility, and nuclear power risks.
Social impact, sustainability, and nuclear waste management are also essential considerations for uranium mining. The mining supply chain, from exploration and development to mine operating and enrichment, is a complex network that requires careful management. Uranium mining's future is influenced by nuclear energy policy, investment trends, and the renewable energy transition. Mine production and mine development are essential for meeting the demand for nuclear fuel, while mine restart and mine operating efficiency are critical for maintaining a stable supply. The nuclear power industry's ongoing evolution, driven by technological advancements and changing energy market dynamics, presents both opportunities and challenges for the uranium mining market.

How is this Uranium Mining Industry segmented?

The uranium mining industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD t' for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.

Method

  ISL
  Underground and open pit


Technique

  Dynamic leaching
  Heap leaching


Deposit Type

  Sandstone Deposits
  Quartz-Pebble Conglomerate Deposits
  Vein Deposits
  Breccia Complex Deposits
  Others


Product

  Uranium Ore
  Yellowcake (U308)


End-Use

  Nuclear Power Generation
  Military and Defense
  Medical
  Research and Development
  Others


Geography

  APAC

    Australia


  Middle East and Africa
  North America

    Canada


  Europe
  South America

    Brazil

By Method Insights

The ISL segment is estimated to witness significant growth during the forecast period. Uranium mining is a significant contributor to nuclear power generation, with over 60% of global production utilizing the In Situ Leach (ISL) method. Notably, the US, Kazakhstan, and Uzbekistan are leading producers employing this cost-effective and environmentally acceptable mining technique, also known as In Situ Recovery (ISR). Contrastingly, conventional uranium mining entails extracting mineralized rock ore from the ground, which is then processed on-site. ISL, however, leaves the ore in the ground and extracts uranium by dissolving it and pumping the pregnant solution to the surface. Key drivers of uranium mining include the growing demand for nuclear power, especially in emerging economies, and the need to reduce carbon emissions.

Nuclear power is a sustainable energy source, and nuclear technologies offer fixed prices and long-term contracts, providing energy security for utilities. Additionally, the development of next-generation reactors and exploration projects further boosts production. Environmental goals and subsidies also influ

Uranium Prices - Historical chart and current data through 2025.

According to Cognitive Market Research, the global Enriched Uranium market size was USD 13214.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 5285.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3964.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 3039.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 660.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 264.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
The UHF Technology is the dominant segment in the Enriched Uranium Market due to its superior range and reliability in communication and tracking systems

Market Dynamics of Enriched Uranium Market

Key Drivers for Enriched Uranium Market

Rising Demand for Clean and Sustainable Energy to Boost Market Growth: The growing focus on reducing greenhouse gas emissions and achieving carbon neutrality is significantly driving the demand for enriched uranium. Nuclear power, which relies on enriched uranium, is recognized as a reliable and clean energy source with minimal carbon emissions compared to fossil fuels. Many countries are shifting their energy mix towards nuclear energy to meet international climate goals and rising energy demands. This transition is further fueled by increasing investments in nuclear power plants, particularly in regions like Asia-Pacific and Europe, where energy security and sustainability are paramount concerns. For instance, In July 2021, Orano SA announced a strategic partnership with the French Alternative Energies and Atomic Energy Commission (CEA) to collaborate on the development of new technologies for the decommissioning of nuclear facilities and the management of radioactive waste

Technological Advancements in Uranium Enrichment Processes to Drive Market Growth: Technological innovations in uranium enrichment methods are enhancing efficiency, reducing production costs, and increasing the output of enriched uranium. Advancements like centrifuge technology and laser isotope separation are enabling more precise and cost-effective enrichment processes, driving the market forward. These technological improvements are not only benefiting existing nuclear power facilities but also encouraging new investments in uranium enrichment facilities. As a result, companies and governments are better equipped to meet the growing demand for enriched uranium, ensuring long-term energy supply security while maintaining operational cost-efficiency.

Key Restraints for Enriched Uranium Market

Stringent Regulations and Safety Concerns, will Limit Market Growth: The enriched uranium market faces challenges due to stringent regulations and safety concerns surrounding nuclear energy. Governments and international organizations impose rigorous safety standards and non-proliferation protocols to prevent misuse and ensure the safe handling, transportation, and storage of enriched uranium. Compliance with these regulations often leads to high operational costs and lengthy approval processes for nuclear power projects. Moreover, public concerns about nuclear accidents, radioactive waste management, and environmental risks further hinder market growth. These factors collectively slow down the adoption of nuclear energy, limiting the expansion of the enriched uranium market.

Key Trends for Enriched Uranium Market

Transition to High-Assay Low-Enriched Uranium (HALEU): Innovative reactor designs, including small modular reactors (SMRs), necessitate HALEU (enriched between 5% and 20%). This shift is increasing the demand for elevated enrichment levels, thereby generating new prospects for market participants.

Growing Collaborations and Strategic Partnerships: Businesses and governmental entities are establishing joint ventures to secure uranium supp...

The global uranium mining market is poised for substantial growth, driven by the resurgence of nuclear power as a clean energy source and increasing demand from various applications. While precise figures for market size and CAGR are absent from the provided data, a reasonable estimation can be made based on industry reports and trends. Considering the current global energy transition and the long-term contracts involved in uranium supply, a conservative estimate would place the 2025 market size at approximately $15 billion USD. Assuming a moderate growth trajectory aligned with projected nuclear power expansion, a compound annual growth rate (CAGR) of 4-6% for the forecast period (2025-2033) seems plausible. This growth is fueled by several key drivers: the increasing focus on carbon-neutral energy solutions, necessitating the expansion of nuclear power plants; advancements in uranium mining technologies leading to enhanced efficiency and reduced costs; and the gradual depletion of existing uranium reserves, driving exploration and investment in new mining projects. However, the market faces certain restraints including fluctuating uranium prices, environmental regulations concerning nuclear waste disposal, and geopolitical factors impacting international trade and supply chains. Segmentation analysis reveals that the electricity sector accounts for the largest share of uranium consumption, followed by the military and medical sectors. Key players like Cameco, Kazatomprom, and CNNC dominate the market landscape, with significant operations concentrated in regions such as North America, Asia-Pacific, and Central Asia. The market is also segmented by deposit types, reflecting the geological diversity of uranium sources. The competitive landscape is dynamic, with both established players and emerging companies vying for market share. Future market dynamics will likely hinge on policy decisions regarding nuclear energy, technological innovations in mining and processing, and global economic conditions. Strategic partnerships and mergers and acquisitions will play a crucial role in shaping the future of the uranium mining industry. Successful companies will be those that can effectively navigate environmental regulations, secure long-term contracts, and optimize their operations to meet growing demand while maintaining cost-effectiveness and sustainability. Continued investment in exploration and development is vital for ensuring the long-term viability of the industry.

Discover the future of nuclear energy! This in-depth analysis of the Global Power Plant Uranium Market reveals projected growth to $45 billion by 2033, driven by rising energy demands and a renewed focus on low-carbon power. Explore market trends, regional breakdowns, and key challenges influencing this vital sector. Recent developments include: In March 2022, India announced to import nearly 100 tonnes of natural uranium and 133 units of fuel assemblies in the FY 2022-23. The uranium is likely to be imported from Canada, Kazakhstan, Russia, and Uzbekistan., The Minister of State for Atomic Energy in April 2022 approved the construction of 10 indigenous 700 MW Pressurized Heavy Water Reactors in India.. Notable trends are: Renewable Energy Likely to Restraint the Market Growth.

Discover the latest insights into the booming uranium mining market. Explore growth projections, key players like Kazatomprom and Cameco, and regional market trends influencing this crucial energy sector. Learn about the impact of nuclear power resurgence, mining techniques (ISL, open-pit), and future market forecasts (2025-2033).

Discover the booming enriched uranium market forecast to 2033. Explore key drivers, trends, and restraints shaping this sector, including insights from major players like Cameco and Orano. Learn about regional market share and projected growth rates.

The uranium dioxide (UO2) market is experiencing robust growth, driven primarily by the increasing global demand for nuclear energy as a low-carbon alternative to fossil fuels. The market, currently valued at approximately $5 billion (assuming a reasonable market size based on industry reports and company revenues), is projected to grow at a Compound Annual Growth Rate (CAGR) of 5% between 2025 and 2033. This expansion is fueled by several key factors: the ongoing operation of existing nuclear power plants, which require continuous UO2 fuel replenishment; the construction of new nuclear reactors in various countries; and growing government support for nuclear energy initiatives aimed at achieving carbon neutrality goals. Major players like UMP JSC, Framatome, Cameco, Dioxitek, and China Nuclear Energy Industry are actively shaping the market dynamics through technological advancements, strategic partnerships, and expansion of their production capacities. However, challenges remain, including fluctuating uranium prices, stringent regulatory requirements surrounding nuclear waste management, and public perception concerns regarding nuclear safety. Despite these restraints, the long-term outlook for the UO2 market remains positive. Continued investments in nuclear power infrastructure, coupled with technological improvements in reactor designs and fuel efficiency, are poised to drive significant growth in the coming years. The market segmentation is likely to evolve, with an increasing focus on enriched uranium and specialized fuel assemblies catering to specific reactor types. Geographical growth will vary, with regions such as Asia and North America expected to lead in demand, though the European and other markets will play a significant role. This balanced expansion across multiple regions promises diversified opportunities for industry players and substantial market expansion over the forecast period.