The State Atomic Energy Corporation ROSATOM

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Uranium conversion and enrichment market

 РОСАТОМ » Information about the Corporation » Markets in which ROSATOM has a presence » Uranium conversion and enrichment market

Uranium enrichment is a key stage of the nuclear fuel cycle (NFC) front-end. The products offered in the market are enriched uranium product and uranium enrichment services; the latter is measured in separative work units or SWUs.

Exploration companies across the world have continued active surveys of promising projects. The work is actively going in Canada and the U.S., as well as in Africa, Latin America, and Australia. Greenland could re-emerge as a promising region, since the radioactive material mining ban was lifted in 2013.

Fig. Largest players in the natural uranium market in 2013

Fig. Largest players in the market of uranium enrichment services in 2013

In 2013, the global uranium enrichment market capacity* was ~51 million SWUs. By 2020, the need for enrichment services could grow to 57 million SWUs and to 86 million SWUs by 2030.

The main enrichment services suppliers, along with ROSATOM, are URENCO (the United Kingdom, Germany, and the Netherlands), AREVA group (France), and USEC Inc. (U.S.), which control about 85% of the market. The position of USEC Inc. has weakened substantially, while the Chinese uranium enricher CNEIC is becoming more competitive.

In 2013, the Corporation filled nearly half of the world’s uranium enrichment needs, having a substantial share in all key geographical segments of this market (48%). In the uranium enrichment market, ROSATOM’s key competitor is URENCO. As of the 2013 year end, the total installed production capacity of URENCO was ~15.3 million SWU/year. By 2015, URENCO plans to reach 18 million SWUs a year.

For more details, see the Report section “International business and the reports for 2013 produced by JSC TVEL and JSC Techsnabexport.

* Market capacities herein are given in fixed prices for 2013.

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