The Global Uranium 235 Market was valued at USD XX.XX Billion in 2024 and is projected to reach USD XX.XX Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of X.X% during the forecast period (2024–2030). This growth is primarily fueled by the global expansion of nuclear energy as a low-carbon power source, advancements in nuclear reactor technology, and the strategic importance of energy security. Challenges such as geopolitical tensions, regulatory hurdles, and public perception remain significant factors influencing market dynamics.

As nations worldwide prioritize decarbonization and seek reliable baseload power, the demand for nuclear fuel is set to rise. The market is dominated by a mix of state-owned enterprises and specialized nuclear fuel cycle companies that control the complex processes of uranium mining, conversion, enrichment, and fuel fabrication. In this blog, we profile the Top 10 Companies in the Uranium 235 Market—key players ensuring the secure and efficient supply of fuel for the global nuclear fleet.

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🔟 1. Rosatom State Atomic Energy Corporation

Headquarters: Moscow, Russia
Key Offering: Uranium Enrichment Services, Nuclear Fuel Assemblies

Rosatom is a global leader in the nuclear industry, with a dominant position across the entire nuclear fuel cycle. Its activities span uranium mining, conversion, enrichment to produce Uranium-235, and the fabrication of nuclear fuel for a wide range of reactor types, including VVER reactors. It serves numerous nuclear power plants across Europe, Asia, and the Middle East.

Strategic Initiatives:

• World’s largest uranium enrichment capacity

• Leading exporter of nuclear fuel and technology

• Development of advanced fuel cycles and fast neutron reactors

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9️⃣ 2. Orano

Headquarters: Châtillon, France
Key Offering: Uranium Mining, Conversion, Enrichment, Fuel Fabrication, Recycling

Orano is a major international player in the nuclear fuel cycle, with expertise from mining to recycling. The company operates uranium conversion and enrichment facilities that are critical for producing fuel-grade Uranium-235. Orano is also a pioneer in spent fuel recycling, contributing to a more sustainable nuclear fuel cycle.

Strategic Initiatives:

• Significant investments in enrichment technologies

• Expansion of international mining operations

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8️⃣ 3. China National Nuclear Corporation (CNNC)

Headquarters: Beijing, China
Key Offering: Full Nuclear Fuel Cycle Services, Reactor Design and Construction

CNNC is the primary nuclear operator and fuel supplier in China, overseeing the country’s ambitious nuclear power expansion. The corporation manages domestic uranium mining, enrichment, and fuel fabrication to support the world’s fastest-growing nuclear energy program, with a strong focus on achieving self-sufficiency.

Strategic Initiatives:

• Rapid scaling of domestic enrichment capacity

• Development of indigenous reactor technologies (e.g., Hualong One)

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7️⃣ 4. Cameco Corporation

Headquarters: Saskatoon, Saskatchewan, Canada
Key Offering: Uranium Mining, Fuel Services

Cameco is one of the world’s largest publicly traded uranium producers, supplying a significant portion of the world’s uranium from its high-grade mines in Canada and Kazakhstan. While primarily a miner, the company is a key supplier of uranium hexafluoride (UF6) to enrichment plants worldwide, forming the essential precursor for Uranium-235 separation.

Strategic Initiatives:

• Restart and expansion of high-production mines

• Long-term supply contracts with global utilities

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6️⃣ 5. Urenco

Headquarters: Stoke Poges, United Kingdom
Key Offering: Uranium Enrichment Services

Urenco is a leading international supplier of uranium enrichment services using centrifuge technology. It operates enrichment facilities in the UK, the Netherlands, Germany, and the USA. Urenco plays a critical role in the global supply chain by increasing the concentration of Uranium-235 in uranium to levels suitable for use in nuclear power reactors.

Strategic Initiatives:

• Continuous improvement of centrifuge efficiency

• Strategic partnerships for stable fuel supply

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5️⃣ 6. Kazatomprom

Headquarters: Nur-Sultan, Kazakhstan
Key Offering: Uranium Mining and Sales

Kazatomprom is the world’s largest producer of uranium, with extensive in-situ recovery (ISR) mining operations. The company is a pillar of the global uranium market, supplying natural uranium to conversion facilities, which is the first step before enrichment to isolate Uranium-235. Its production volumes significantly influence global uranium prices.

Strategic Initiatives:

• Market-responsive production strategy

• Vertical integration into conversion and fuel fabrication

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4️⃣ 7. Centrus Energy Corp.

Headquarters: Bethesda, Maryland, USA
Key Offering: Nuclear Fuel and Services, Advanced Reactor Fuel Development

Centrus Energy is a key supplier of nuclear fuel and services in the United States. The company is notable for its work in re-establishing a domestic uranium enrichment capability, including the demonstration of advanced centrifuge technology. It supplies enriched uranium product (EUP) for both existing light-water reactors and next-generation reactor designs.

Strategic Initiatives:

• Pioneering HALEU (High-Assay Low-Enriched Uranium) production for advanced reactors

• Securing contracts to support U.S. energy security goals

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3️⃣ 8. Japan Nuclear Fuel Limited (JNFL)

Headquarters: Aomori, Japan
Key Offering: Uranium Enrichment, Reprocessing, Waste Management

JNFL operates Japan’s key nuclear fuel cycle facilities, including a commercial uranium enrichment plant. The company plays a vital role in Japan’s national energy strategy by providing enrichment services to increase the concentration of Uranium-235 for the country’s nuclear power plants, contributing to fuel security and the potential for a closed fuel cycle.

Strategic Initiatives:

• Operation of the Rokkasho Enrichment Plant

• Development of integrated fuel cycle facilities

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2️⃣ 9. Global Nuclear Fuel (GNF)

Headquarters: Wilmington, North Carolina, USA
Key Offering: Boiling Water Reactor (BWR) Fuel Assemblies

GNF, a joint venture predominantly owned by GE Vernova, is a leading designer and supplier of nuclear fuel for Boiling Water Reactors (BWRs) worldwide. The company fabricates fuel assemblies using enriched Uranium-235, focusing on advanced fuel designs that enhance reactor performance, safety, and fuel efficiency.

Strategic Initiatives:

• Development of high-performance GNF2 and GNF3 fuel designs

• Expansion of fuel supply to international BWR operators

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1️⃣ 10. Framatome

Headquarters: Courbevoie, France
Key Offering: Pressurized Water Reactor (PWR) Fuel, Fuel Engineering Services

Framatome is a global leader in nuclear reactor services and fuel fabrication. The company designs, manufactures, and supplies nuclear fuel assemblies for Pressurized Water Reactors (PWRs), which constitute the majority of the world’s nuclear fleet. Its expertise is critical in optimizing the use of enriched Uranium-235 for safe and efficient reactor operation.

Strategic Initiatives:

• Innovation in accident-tolerant fuel (ATF) technologies

• Digital solutions for fuel management and performance

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🌍 Outlook: The Future of Uranium 235 Is Tied to the Nuclear Renaissance

The Uranium-235 market is at a pivotal juncture, balancing the needs of the existing global reactor fleet with the promising development of advanced nuclear technologies. While geopolitical factors and market volatility present challenges, the long-term outlook is bolstered by the essential role of nuclear power in achieving climate goals.

📈 Key Trends Shaping the Market:

• Growing demand for HALEU (High-Assay Low-Enriched Uranium) to fuel next-generation advanced and small modular reactors (SMRs)

• Renewed policy support and funding for nuclear energy in North America and Europe

• Strategic shifts in supply chains to enhance energy security and reduce dependencies

• Continued operation of existing nuclear plants through license extensions

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The companies listed above are not only supplying a critical energy resource—they are enabling the transition to a stable, low-carbon energy future.