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Uranium
Industry

Uranium Demand

The WNA reports that there are 447 nuclear reactors (+8 from January 1, 2016) operable in 31 countries as of March 1, 2017. These reactors can generate 391.9 gigawatts of electricity and supply over 11% of the world's electrical requirements. As of March 1, 2017, 59 nuclear reactors are under construction in 14 countries with the principal drivers of this expansion being China (21 reactors under construction), Russia (7), India (5), the United States (4), UAE (4), and South Korea (3). Based on the most recent statistics from the WNA, there are a total of 223 reactors that are either under construction, or planned around the world, and an additional 350 reactors that are proposed.

According to UxC's Q1 Outlook, global nuclear power capacities are projected to increase from 379.4 gigawatts in 2015 (the most recent reference year) to over 483 gigawatts by 2030. UxC also estimates that annual uranium demand could grow nearly 60% to more than 300 million pounds U3O8 by 2030 from 190.2 million pounds U3O8 in 2016.  
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