End-use applications rising for uranium as market expected to reach $1.81 billion in 2028

Palm beach, fla., nov. 13, 2024 (globe newswire) -- fn media group news commentary - the uranium ore market is expected to continue substantial growth over the next several years. a report from the business research company said: “the uranium ore market size has grown strongly in recent years. it will grow from $1.11 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (cagr) of 9.5%. it continued: “the uranium ore market size is expected to see strongly grown in the next few years. it will grow to $1.81 billion in 2028 at a compound annual growth rate (cagr) of 10.5%. the growth in the forecast period can be attributed to government policies and incentives, focus on carbon emission reduction, geopolitical stability, exploration and discovery of new uranium deposits, public perception and social acceptance. major trends in the forecast period include advancements in nuclear technology, development of in-situ recovery (isr) technology, focus on uranium enrichment technologies, increased scrutiny on environmental and social impact, and diversification of uranium end-use applications. the growth in the historic period can be attributed to the nuclear power plant construction boom, the cold war and military demand, the chernobyl and three-mile island incidents, global economic trends, and changes in the regulatory environment.”   active mining/energy companies in the markets this week include: mustang energy corp. (otcqb: mecpf) (cse: mec), denison mines corp. (nyse american: dnn) (tsx: dml), uranium energy corp (nyse american: uec), atha energy corp. (otcqb: saskf) (cse: sask), centrus energy corp. (nyse american: leu).
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