Spent Fuel and Nuclear Waste Management Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Low-level Waste, Intermediate-level Waste, High-level Waste), By Application (Nuclear Fuel Cycle, Research, Medical & Industrial Source, Military & Defense Programs, Other), By Region & Competition, 2020-2030F

Market Overview

Global Spent Fuel and Nuclear Waste Management Market was valued at USD 5.1 billion in 2024 and is expected to reach USD 5.9 billion by 2030 with a CAGR of 2.2% through 2030. The global spent fuel and nuclear waste management market is primarily driven by the increasing demand for nuclear energy as countries seek to decarbonize their power sectors. This rise in nuclear power generation has led to a growing volume of radioactive waste, necessitating effective management solutions. Stringent regulatory frameworks from bodies like the IAEA and national governments are pushing operators to invest in advanced, compliant waste treatment and storage technologies. Technological advancements—such as vitrification, dry cask storage, and deep geological repositories—are enhancing safety and long-term sustainability.

Additionally, the development of small modular reactors (SMRs) and reprocessing techniques is helping reduce waste volumes while improving energy recovery. Environmental concerns and public scrutiny have also intensified, prompting authorities to adopt transparent, socially acceptable waste management practices. Countries like Finland and France are leading with permanent disposal solutions, which is encouraging broader global investment in infrastructure. Furthermore, the accumulation of high-level waste in temporary storage facilities is driving urgency for permanent solutions. International collaboration for shared facilities and knowledge exchange is also seen as a growing opportunity to reduce costs and improve safety. Together, these factors are propelling the market forward, making nuclear waste management a key pillar of sustainable nuclear energy development.

Key Market Drivers

Rising Nuclear Power Generation and Accumulation of Spent Fuel

One of the most significant drivers of the global spent fuel and nuclear waste management market is the increasing reliance on nuclear energy as a low-carbon alternative to fossil fuels. As countries strive to meet climate goals under international agreements such as the Paris Accord, nuclear power is being embraced for its ability to provide large-scale, stable baseload electricity with minimal greenhouse gas emissions. Consequently, the number of nuclear reactors is growing globally, especially in emerging economies like China, India, and Russia. Developed nations such as the U.S., France, and the UK are also extending the life of existing nuclear plants. 

This rise in nuclear power generation directly correlates with the increased production of high-level radioactive waste, particularly spent nuclear fuel. Most existing reactors use once-through fuel cycles, where spent fuel is removed and stored after a single use. As of now, tens of thousands of metric tons of spent fuel are stored in interim facilities worldwide, many of which were not designed for long-term storage. This growing volume of radioactive waste poses serious environmental and safety risks, driving demand for advanced and permanent solutions like deep geological repositories, reprocessing technologies, and enhanced dry cask storage systems. 

Furthermore, the backlog of waste from decades of nuclear energy production has created an urgent need for sustainable waste management infrastructure. This pressure is compounded by public opposition to temporary on-site storage and the looming decommissioning of older nuclear facilities. Governments and private stakeholders are therefore investing heavily in research, development, and deployment of long-term disposal solutions, fueling market growth. In summary, the expansion of nuclear energy and the ongoing accumulation of spent fuel are creating both a necessity and an opportunity for innovation and investment in nuclear waste management globally. Global nuclear power capacity is projected to grow by over 30% by 2050, as countries seek low-carbon energy alternatives. As of the mid-2020s, there are over 440 operational nuclear reactors worldwide, with more than 60 reactors under construction. Nuclear energy currently supplies about 10% of the world’s electricity, with ambitions to increase that share in several regions. Small Modular Reactors (SMRs) are expected to represent 20% to 25% of new nuclear installations by 2040 due to their flexibility and lower upfront cost. Many countries aim to triple nuclear capacity by 2050 as part of their long-term net-zero strategies.

Stringent Regulatory Frameworks and Advancements in Waste Management Technologies

Regulatory pressure and safety standards are powerful market drivers in the global spent fuel and nuclear waste management sector. Governments and international bodies such as the International Atomic Energy Agency (IAEA), Nuclear Regulatory Commission (NRC), and national nuclear safety authorities are imposing increasingly stringent regulations to ensure the safe handling, transportation, storage, and disposal of radioactive waste. These regulatory requirements are designed to minimize the risk of environmental contamination and radiation exposure to workers and the public. As a result, nuclear facility operators must comply with rigorous guidelines, prompting significant investments in waste treatment technologies and infrastructure.

This regulatory environment is also encouraging innovation in waste processing and containment. Technologies such as vitrification (immobilizing waste in glass), encapsulation, dry cask storage, and deep geological disposal are being advanced and adopted at a faster rate. Countries like Finland (Onkalo repository) and France (Cigéo project) are setting global benchmarks for permanent underground repositories, influencing other nations to follow suit. Meanwhile, advancements in reprocessing and partitioning-transmutation techniques offer the potential to reduce the volume and toxicity of high-level waste, extending the lifecycle of nuclear fuel and reducing long-term storage needs.

Moreover, regulatory incentives and government-backed funding for research and pilot projects are accelerating market development. In some regions, public-private partnerships are being formed to create shared disposal facilities, particularly for small nations or those with limited nuclear capacity. These collaborations help reduce costs, standardize safety protocols, and enhance operational efficiency. The compliance-driven shift toward high-performance, durable containment systems and integrated waste management strategies is not only ensuring environmental safety but also driving robust market growth. In essence, evolving regulatory landscapes and continuous technological advancements are working hand in hand to transform the nuclear waste management industry into a more proactive, secure, and innovation-led sector.

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Key Market Challenges

High Costs of Infrastructure Development and Long-Term Disposal Solutions

A significant challenge facing the global spent fuel and nuclear waste management market is the enormous cost involved in developing safe, long-term disposal infrastructure. Establishing permanent repositories, such as deep geological disposal facilities, involves decades of planning, billions of dollars in investment, and extensive safety testing and approvals. These projects require advanced engineering, long-term monitoring systems, and careful environmental impact assessments, all of which substantially increase total expenditures.

Additionally, interim storage—using methods like dry cask or pool storage—requires constant upgrades and security measures to comply with evolving regulations. Many nuclear facilities were designed with short-term waste handling in mind and now face retrofitting costs to extend storage capabilities. In developing countries or regions with limited budgets, this cost barrier is especially prohibitive, slowing the implementation of advanced solutions.

Moreover, funding such projects often becomes politically contentious. Governments must balance energy security and environmental safety with taxpayer burden and public opinion. Many large-scale projects, such as the proposed Yucca Mountain repository in the U.S., have been stalled or canceled due to political opposition and cost concerns despite heavy investment.

Private companies may also hesitate to invest in such long-term, high-risk ventures without clear policy direction or financial incentives. This lack of financial clarity and long-term commitment from governments and stakeholders hampers market expansion and technology deployment. Furthermore, decommissioning old nuclear plants adds to the cost burden, as handling legacy waste and dismantling contaminated infrastructure requires substantial capital.

In summary, the high capital requirements for permanent disposal infrastructure, combined with uncertain policy landscapes and political resistance, remain a core challenge that restricts the pace of global progress in nuclear waste management.

Public Opposition and Social Acceptance Issues

Public perception and opposition present a major hurdle in the global spent fuel and nuclear waste management market. While technological and regulatory solutions are advancing, the social license to operate often determines the success or failure of waste management initiatives. Communities are frequently unwilling to host nuclear waste facilities—whether interim or permanent—due to concerns over radiation exposure, environmental contamination, and long-term safety.

The “Not In My Backyard” (NIMBY) phenomenon is widespread, particularly in democratic societies where public consultation is required before approving nuclear infrastructure. This resistance can delay or derail projects, even when scientific assessments confirm low risks. The U.S. Yucca Mountain project is a prime example—despite its technical viability, it was halted due to opposition from local and state governments and concerns from nearby populations.

Additionally, the long-lived nature of nuclear waste (some isotopes remain hazardous for tens of thousands of years) exacerbates public fears. Citizens question whether future generations will be able to monitor and manage these sites, leading to broader ethical and intergenerational concerns. Transparent communication, community engagement, and trust-building measures are essential but often underdeveloped in many regions.

The lack of education and awareness about nuclear waste technologies also fuels misinformation and fear. Without effective outreach, even well-designed, secure facilities can face strong opposition. Countries like Finland and Sweden have made progress through consensus-building and community involvement, showing that acceptance is possible—but it requires long-term commitment, transparency, and cultural sensitivity.

In developing countries or politically unstable regions, public opposition can escalate into social unrest or legal challenges, further delaying waste management efforts. Therefore, without meaningful community buy-in, even the most advanced technical solutions may fail to move forward. In essence, societal resistance and lack of public trust remain among the most persistent and complex challenges in nuclear waste management globally.

Key Market Trends

Increasing Focus on Deep Geological Repositories for Permanent Disposal

A prominent trend in the global spent fuel and nuclear waste management market is the growing focus on deep geological repositories (DGRs) as a long-term, permanent solution for high-level radioactive waste. With interim storage methods such as pools and dry casks nearing capacity, governments and nuclear agencies are increasingly prioritizing the development of underground repositories that can isolate radioactive waste for thousands of years.

Finland is leading the way with the Onkalo deep geological repository, which is expected to be the world’s first operational DGR. France’s Cigéo project and Sweden’s approved plans for their Forsmark site further demonstrate a strong push in Europe toward permanent underground storage. These projects follow strict international safety standards and are engineered to prevent any leakage into the biosphere over extremely long timescales.

This trend is being driven by public demand for safe, long-term solutions and by regulatory mandates requiring the identification and development of permanent disposal methods. In addition to meeting environmental and safety goals, DGRs help resolve political and legal debates around interim storage extensions and community objections to surface-level facilities.

As more countries begin exploring DGR options, there is an increase in cross-border collaboration, research funding, and private-sector involvement. For instance, countries with smaller nuclear programs are considering shared international repositories. Innovations in geological modeling, monitoring systems, and corrosion-resistant canisters are enhancing the feasibility and safety of these repositories.

Overall, the shift from temporary storage to permanent geological isolation marks a significant and irreversible trend in the nuclear waste management industry, with long-term implications for policy, investment, and public acceptance worldwide.

Growing Adoption of Advanced Waste Reprocessing and Recycling Technologies

Another major trend shaping the spent fuel and nuclear waste management market is the increased adoption of advanced reprocessing and recycling technologies aimed at minimizing waste volume, reducing toxicity, and recovering usable fuel components. As nuclear energy regains attention as a clean and reliable power source, countries are seeking sustainable strategies to close the nuclear fuel cycle and reduce dependency on uranium mining.

Reprocessing involves separating usable materials such as plutonium and uranium from spent fuel so they can be reused in reactors. Countries like France, Russia, and Japan have already implemented commercial-scale reprocessing plants, and others like China and India are investing heavily in building their domestic capabilities. These countries are also exploring the use of Mixed Oxide (MOX) fuel, which utilizes reprocessed plutonium and uranium to generate energy, effectively recycling what would otherwise be high-level waste.

Emerging technologies such as partitioning and transmutation, which aim to convert long-lived isotopes into shorter-lived or stable ones, are also gaining interest. These processes could significantly reduce the long-term radiotoxicity of waste, easing the burden on storage and disposal infrastructure. Though still largely at the research or pilot stage, they represent a long-term shift toward more efficient and sustainable waste management.

Advanced reactors—especially fast breeder reactors and molten salt reactors—are designed to make better use of reprocessed fuel, making these technologies even more attractive. Governments are increasingly funding research in this area as part of broader energy transition strategies.

This trend reflects a paradigm shift from waste disposal to resource recovery, aligning with circular economy principles. As technology matures and public awareness of its benefits grows, reprocessing is expected to play a key role in the evolution of nuclear waste management worldwide. Currently, less than 30% of global waste is recycled using advanced technologies, with increasing investments aiming to raise this to over 50% by 2035. Adoption of chemical recycling and waste-to-energy technologies is projected to double by 2030, significantly reducing landfill reliance. The industrial sector accounts for approximately 40% of total advanced recycling capacity, with municipal solid waste making up the remainder. Circular economy initiatives are expected to drive a 2-3x increase in the volume of waste processed through advanced recycling methods by 2040.

Segmental Insights

Application Insights

Nuclear Fuel Cycle segment dominated the Spent Fuel and Nuclear Waste Management Market in 2024 and is projected to maintain its leadership throughout the forecast period, primarily due to its critical role in managing the entire lifecycle of nuclear material—from fuel fabrication to waste disposal. This segment encompasses various stages, including uranium mining, enrichment, fuel fabrication, power generation, interim storage, reprocessing, and final disposal. Each phase generates different forms of radioactive waste, especially spent nuclear fuel, which requires specialized handling and containment. With the global increase in nuclear energy generation, especially in countries like China, India, and Russia, the volume of spent fuel has risen significantly, thereby driving demand for comprehensive fuel cycle management solutions.

Governments and energy agencies are placing a strong emphasis on closing the fuel cycle to ensure sustainability and safety. This includes reprocessing spent fuel to recover reusable materials like plutonium and uranium, which can be recycled into mixed oxide (MOX) fuel. Advanced reprocessing and recycling technologies further enhance the efficiency of this segment, reducing waste volumes and long-term environmental impacts. Additionally, stringent international regulations and growing public scrutiny around nuclear safety are compelling operators to invest more in secure and advanced nuclear fuel cycle infrastructure. As a result, the nuclear fuel cycle segment remains pivotal, not only in minimizing risks associated with radioactive waste but also in improving the economic and environmental footprint of nuclear energy programs. Its strategic importance makes it the cornerstone of the overall market.

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Regional Insights

Largest Region

North America dominated the Spent Fuel and Nuclear Waste Management Market in 2024 and is anticipated to maintain its leadership throughout the forecast period, primarily due to its large fleet of nuclear reactors, mature regulatory framework, and significant investments in waste management infrastructure. The United States alone accounts for nearly one-third of the world’s nuclear power generation, resulting in a substantial accumulation of spent nuclear fuel over decades of operation. While much of this waste is currently stored in on-site pools and dry cask storage systems at nuclear power plants, growing concerns over long-term safety and environmental risks are accelerating the push for permanent disposal solutions.

The region also benefits from well-established nuclear regulatory bodies such as the U.S. Nuclear Regulatory Commission (NRC) and Canada’s CNSC, which ensure strict compliance with safety standards and drive innovation in waste treatment technologies. Additionally, ongoing efforts to develop deep geological repositories, such as the proposed Yucca Mountain site and Canada’s Adaptive Phased Management strategy, reflect North America’s commitment to long-term and scientifically sound waste disposal.

Technological advancements, public-private partnerships, and strong governmental support further strengthen North America’s leadership in this market. Companies and research institutions are actively engaged in improving reprocessing, storage, and monitoring technologies. Moreover, the region’s proactive stance on nuclear decommissioning and the safe handling of legacy waste reinforces its dominant position. Overall, North America’s advanced infrastructure, regulatory maturity, and sustained investments have made it the front-runner in the spent fuel and nuclear waste management industry.

Emerging Region

South America is the emerging region in the Spent Fuel and Nuclear Waste Management Market, driven by expanding nuclear energy programs, government initiatives, and increasing awareness of safe waste disposal practices. Countries like Brazil and Argentina are leading the region in nuclear power development, with operating reactors and plans for further expansion to meet rising energy demands. As these nations increase their reliance on nuclear energy, the volume of spent fuel and radioactive waste is also growing, highlighting the need for robust management systems.

Although the region currently lacks large-scale permanent disposal facilities, there is a noticeable shift toward developing long-term storage and treatment strategies. Brazil, for example, has established temporary storage solutions at reactor sites and is actively researching long-term geological repository options. Regional collaboration and partnerships with international nuclear agencies like the IAEA are also helping to strengthen technical capabilities and regulatory frameworks for waste management.

Moreover, the growing focus on energy security and low-carbon energy is motivating governments to invest in nuclear infrastructure, including waste handling systems. South America’s commitment to environmental protection and compliance with international safety standards is gradually transforming the market landscape. While still in its early stages compared to developed regions, South America is showing strong potential for growth, supported by policy reforms, international cooperation, and an increasing need for safe and sustainable nuclear waste solutions. As the region continues to modernize its nuclear sector, it is expected to play a more significant role in the global market in the coming years.

Recent Developments

• In October 2024, Muroosystems Corporation acquired NUKEM Technologies, a German nuclear engineering company specializing in spent fuel disposal and radioactive waste services, strengthening its global portfolio in nuclear waste management.
• In December 2024, Germany’s GNS acquired Powder Light Metals to reinforce its cask hardware manufacturing capabilities—particularly for CASTOR-type basket systems—enhancing efficiency and innovation in spent fuel storage solutions. 
• In June 2025, the Nuclear Decommissioning Authority (NDA) announced a significant partnership to deploy cutting-edge technology for the first time to remotely and autonomously sort and segregate nuclear waste. The initiative, named Auto-SAS, will be jointly executed by AtkinsRéalis and Createc, collaborating as ARCTEC, leveraging their combined expertise in automated systems and robotics within the nuclear energy sector.
• In March 2025, Moltex Energy Canada Inc. unveiled its groundbreaking Waste to Stable Salt (WATSS) process, set to revolutionize nuclear waste management. This innovative technology offers an economically viable solution to one of the nuclear industry’s greatest challenges amid rising global demand. Moltex successfully validated the WATSS process using used fuel bundles from a commercial Canadian reactor through advanced hot cell experiments conducted by Canadian Nuclear Laboratories, marking a critical step toward closing the nuclear fuel cycle and advancing next-generation nuclear sustainability.

Key Market Players

• Orano SA
• Westinghouse Electric Company LLC
• Holtec International
• Veolia Environnement S.A.
• Bechtel Corporation
• Waste Control Specialists LLC
• Babcock International Group PLC
• Rosatom State Atomic Energy Corporation

Report Scope:

In this report, the Global Spent Fuel and Nuclear Waste Management Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Spent Fuel and Nuclear Waste Management Market, By Type:

o   Low-level Waste

o   Intermediate-level Waste

o   High-level Waste        

• Spent Fuel and Nuclear Waste Management Market, By Application:

o   Nuclear Fuel Cycle

o   Research

o   Medical & Industrial Source

o   Military & Defense Programs

o   Other         

• Spent Fuel and Nuclear Waste Management Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  Germany

§  France

§  United Kingdom

§  Italy

§  Spain

o   Asia Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

o   South America

§  Brazil

§  Colombia

§  Argentina

o   Middle East & Africa

§  Saudi Arabia

§  UAE

§  South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Spent Fuel and Nuclear Waste Management Market.

Available Customizations:

Global Spent Fuel and Nuclear Waste Management Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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