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The radioactive materials logistics market size is forecast to increase by USD 1.45 billion, at a CAGR of 5.92% between 2023 and 2028. Several factors play a crucial role in the market's growth, such as the anticipated growth in the number of nuclear power plants, the increasing demand for radioactive materials logistics from the healthcare industry, and the growing production of uranium.
The report offers extensive research analysis on the market with a categorization based on End-user, including healthcare, industrial, agriculture, and others. It further segments the market by Type, encompassing waste materials, spent nuclear fuel, and fresh fuel. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the growing production of uranium. The production of uranium is increasing due to the increased demand from various sectors, including medicine and electricity generation. In addition, the production of uranium is rising because new mines are being opened. Furthermore, the demand for uranium is closely tied to the global energy landscape.
Moreover, as countries seek to diversify their energy sources and reduce carbon emissions, there may be an increased interest in nuclear power, leading to higher demand for uranium. For instance, uranium is used in around 20 countries, and approximately 51% of world production comes from just ten mines in four countries such as Canada, Australia, Kazakhstan, and Namibia. Hence, such factors are positively impacting the market which in turn drives the market growth during the forecast period.
A key factor shaping the market growth is the growing demand for radioactive waste logistics. Radioactive waste is essentially a byproduct after a nuclear reaction in applications of nuclear fission or nuclear technology, including energy generation. In addition, this radioactive waste is hazardous to all forms of life and the environment, and therefore, it is regulated by government agencies to protect human health and the environment.
Moreover, radioactive waste is mainly stored in a place where it is allowed to decay naturally. In addition, such waste remains radioactive for a very long time. Furthermore, it is difficult to find a disposal facility for radioactive waste. Usually, a disposable facility should be able to contain waste for a long time and is chosen based on the type of waste being disposed of. Hence, such factors are driving the market growth during the forecast period.
Stringently regulated transportation of radioactive materials is one of the key challenges hindering market growth. Radioactive materials comprise a small portion of all dangerous materials shipped each year. For instance, in the US, which is one of the world's largest producers of nuclear power, around 0.5%-3% of dangerous materials that are shipped are radioactive.
Moreover, the lack of harmonization and over-regulation in transport authorization, especially between countries, has a substantial risk from the perspective of security. In addition, several layers of regulation and an absence of international consistency are hindrances that can deter companies from executing shipments. Furthermore, shipments are sometimes denied as certain national authorities are not recognized by other countries. Hence, such factors are hindering the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Agility Public Warehousing Co. K.S.C.P: The company offers radioactive material logistics such as transportation services for dangerous goods and radioactive substances through Agility chemical logistics.
The research report also includes detailed analyses of the competitive landscape of the market and information about 18 market companies, including:
Qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The healthcare segment is estimated to witness significant growth during the forecast period. Radioactive materials also referred to as radiotracers, which emit gamma rays from within the body, are used for the diagnosis of certain disorders. In addition, these radiotracers are generally short-lived isotopes. Furthermore, the emissions that come from the radiotracers are detected by an imaging device, which provides pictures and molecular information.
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The healthcare segment was the largest segment and was valued at USD 1.62 billion in 2018. Moreover, the combination of nuclear medicine images with computed tomography (CT) or magnetic resonance imaging (MRI) scans provides an exhaustive view to physicians and aids diagnosis. In addition, radioactive materials are also used in therapy; however, the number of such materials is comparatively limited. Furthermore, one of the most common uses of radioactive elements is iodine (I-131), which is used in minor quantities to treat cancer and other conditions affecting the thyroid gland. Therefore, The growing number of critical diseases such as cancer will increase the demand for radioactive materials which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America has several number of nuclear power plants contributing to its electricity generation. In addition, the logistics of transporting uranium from mining and processing facilities to nuclear reactors, both domestically and internationally, contribute to the overall demand for radioactive material logistics. Moreover, the logistics associated with transporting fresh nuclear fuel to these plants and managing the transportation of spent nuclear fuel for storage or disposal contribute to the overall demand for radioactive material logistics. In addition, the logistics of decommissioning involve the transportation of radioactive waste, spent fuel, and dismantled components to appropriate storage or disposal facilities. Furthermore, the region is home to numerous research institutions and laboratories involved in nuclear research and development. Hence, such factors are driving the market growth in North America during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
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Radioactive Materials Logistics Market Scope |
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Report Coverage |
Details |
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Page number |
175 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.92% |
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Market Growth 2024-2028 |
USD 1.45 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.48 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 31% |
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Key countries |
US, China, Australia, Russia, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Agility Public Warehousing Co. K.S.C.P, ALARA Global Logistics Group., Andlauer Healthcare Group Inc., AREVA SA, Bharat Logistic Pvt. Ltd., Cencora Inc., Clean Harbors Inc., CTS LOGISTICS GROUP, Daseke Inc., Deutsche Post AG, DG Air Freight Pvt. Ltd., DSV AS, Edlow International Co., EnergySolutions, FedEx Corp., Hitachi Zosen Corp., Orano, and Waste Control Specialists LLC |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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