Report Code: A07562 | Pages: NA | Mar 2023 | 1643 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Thorium Market
Request Now !Thorium, a natural-occurring, radioactive metal discovered by the Swedish chemist in 1828, is found in small amounts in rocks and soils. Monazite is a mineral, which is a common source of thorium. It is an electropositive and highly reactive metal. It is used to manufacture lenses for cameras, and is also used in nuclear reactors, alloying elements or to coat tungsten wire in electrical equipment and radiometric dating. Basically, pure thorium is a silver white metal, which retains its luster for many months. Thorium oxide has high thermal conductivity, low thermal expansion, and high melting point. Thorium is found in the earth’s crust, being an untapped energy source for nuclear power. Thorium energy is clean, scalable, affordable, and proliferation resistant. Currently, thorium fuel is used in several reactor types, heavy water reactors (HWR), high-temperature gas-cooled reactors, and boiling water reactors (BWR).Â
Thorium is available in abundance, and is radioactive in nature. It is increasingly used in aerospace, refractory material manufacturing, electronic equipment coating, camera lenses manufacturing, and others.
High demand for thorium from these industries leads to the thorium market growth. In addition, thorium is used as a substitute for uranium. Rise in demand for uranium and its easy availability are expected to contribute to the thorium market growth. Thorium is available 3 times more than uranium. Â Â
Currently, most of the nuclear reactors run on uranium-based fuel. However, thorium fuels can breed fissile uranium-233 to be used in various kinds of nuclear reactors. As thorium is not itself fissile, it is not directly usable in a thermal neutron reactor. However, it is ‘fertile’ and upon absorbing a neutron, it transmutes to uranium-233, which is an excellent fissile fuel material.Â
The radioactive nature of thorium hampers health and the environment. Environment release of thorium waste negatively affects the flora and fauna of the ecosystem. Moreover, improper waste disposal pertaining to thorium effluent hinders the market growth.
The U.S. and European countries are expected to be the most promising thorium market over the forecast period. India, Brazil, Australia, the U.S., Egypt, and others have large thorium reservoirs from which world-class metals are extracted. Therefore, they have a major market share over the forecast period. Furthermore, development of energy projects of thorium in countries, such as Indonesia and Chile, was organized and proposed by Thorium Power Canada.
Key benefits of the report:
Questions answered in the thorium market research report:
Thorium Market Report Highlights
Aspects | Details |
---|---|
Form |
|
Application |
|
End-Use Industry |
|
By Region |
|
Key Market Players | Flibe Energy, TerraPower, American Elements, Hastings Technology Metals Ltd, Inorganics Ventures, Thor Energy, Steenkampskraal Thorium LTD, Cameco Corporation, Unity Energy Corp, Thorium Power |
Loading Table Of Content...
Start reading.
This Report and over 19,603+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers