(MENAFN- Market Press Release) June 29, 2025 1:29 pm - The Thorium Reactor market, valued at USD 5,548.7 million in 2024, is expected to register robust revenue CAGR of 18.7%. Request free copy of this report:

June 29, 2025 - The global thorium reactor market size reached USD 5,548.7 Million in 2024 and is expected to register a revenue CAGR of 18.7% during the forecast period. Abundance of thorium extracts is a key factor driving market revenue growth. The world's thorium reserves are believed to be around 12 million tons. India has the most registered thorium deposits along its southern and eastern coasts. Countries with major deposits include Australia, Brazil, Canada, the United States, Greenland, Norway, Russia, South Africa, and Venezuela.

On October 2024, Larsen & Toubro (L&T), India's leading technology-powered conglomerate that provides solutions in critical national sectors, and Clean Core Thorium Energy (CCTE), a US-based advanced nuclear fuel company, have signed a Memorandum of Understanding (MoU) to collaborate on providing efficient clean energy solutions globally via the CCTE's patented ANEEL fuel. The ANEEL fuel, composed of thorium and enriched uranium, was designed for use in Pressurised Heavy Water Reactors (PHWR), Canada Deuterium Uranium (CANDU) Reactors, and Advanced Nuclear Reactors.

The lack of existing thorium reactor-system infrastructures around the world has further increased the cost and design complexity. With most the world's nuclear-power facilities designed to run on uranium, the transition to thorium would most likely necessitate the design of entirely new plants and reactors, as well as the development of new regulatory frameworks for thorium-based energy generation, increasing the overall cost. As a result, putting thorium reactors online will necessitate significant infrastructure investments, not just to build new reactor systems, but also to examine and monitor thorium-fuel cycles.

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Segments market overview and growth Insights
Based on the reactor type, the thorium reactor market is segmented into Molten Salt Reactors (MSR), Heavy Water Reactors (HWR), High-Temperature Gas-Cooled Reactors (HTGR), Accelerator Driven Systems (ADS), and Others. High-Temperature Gas-Cooled Reactors (HTGR) segment is expected to register a fast revenue growth during the forecast period. These are ideal for thorium-based fuels in the form of strong 'TRISO' coated thorium particles combined with plutonium or enriched uranium, covered with pyrolytic carbon and silicon carbide layers that retain fission gasses. The fuel particles are encased in a graphite matrix, which is extremely stable at high temperatures. Such fuels can be irradiated for extended periods of time, allowing them to thoroughly burn their original fissile charge. Thorium fuels are suitable for both 'pebble bed' and 'prismatic' HTR reactors.

Regional market overview and growth insights
Asia Pacific accounted for the largest revenue share in the global thorium reactor market in 2024 driven by advancements in molten salt reactor technology and geopolitical concerns over uranium supply chains. On December 2024, NTPC Limited, India's largest integrated power company, and Clean Core Thorium Energy (CCTE), based in the United States, have announced a strategic partnership to explore the development and deployment of ANEEL (Advanced Nuclear Energy for Enriched Life), a Thorium-based fuel for Pressurized Heavy Water Reactors (PHWRs), subject to government approval. ANEEL fuel reduces costs by increasing energy output within existing safety margins and cutting operating expenses in contemporary reactors.

Competitive Landscape and Key Competitors
The Thorium Reactor market is characterized by a consolidated structure, with few competitors holding a significant share of the market. List of major players included in the Thorium Reactor market report are:

oCopenhagen Atomics A/S
oFlibe Energy, Inc.
oTerraPower
oNANO Nuclear Energy Inc.
oThorcon
oThorizon
oTransmutex SA
oSTL Nuclear
oThor Energy

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Major strategic developments by leading competitors
Clean Core Thorium Energy (CCTE): On February 2025, Clean Core Thorium Energy (CCTE) has raised a USD 15.5 million Series Seed round of funding to promote the ANEEL fuel, a patented blend of thorium and HALEU that can be smoothly integrated into current reactors. The funding will be used to reinforce the company's technical partnerships, such as the irradiation test at Idaho National Laboratory (INL), additional validation work at Canadian Nuclear Laboratories (CNL), a planned Demonstration Irradiation, and more.

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Navistrat Analytics has segmented global Thorium Reactor market based on reactor type, fuel type, application, end-use, and region:
.Reactor Type Outlook (Revenue, USD Million; 2022-2032)
oMolten Salt Reactors (MSR)
oHeavy Water Reactors (HWR)
oHigh-Temperature Gas-Cooled Reactors (HTGR)
oAccelerator Driven Systems (ADS)
oOthers
.Fuel Type Outlook (Revenue, USD Million; 2022-2032)
oTh-232 + U-233
oTh-232 + U-235
oTh-232 + Pu-239
.Application Outlook (Revenue, USD Million; 2022-2032)
oElectricity Generation
oMedical Isotope Production
oDesalination Plants
oOthers
.End-Use Type Outlook (Revenue, USD Million; 2022-2032)
oUtility Companies
oGovernment Agencies
oResearch Institutions & Universities
oIndustrial Plants
.Regional Outlook (Revenue, USD Million; 2022-2032)
oNorth Benelux
g Countries
h of Europe
oAsia Pacific
a Japan
d Oceania
f Countries
g of APAC
oLatin Brazil
b of LATAM
oMiddle East & Africa
a Countries
b Turkey
e of MEA

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