Global Molten Salt Reactor Market - WishTree Insight

Global Molten Salt Reactor Market by Type (Uranium, Thorium, and Plutonium), Application (Power & Energy, Shipping, Oil & Gas, and Others), and Regions, The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The Molten Salt Reactor market size was valued at USD 1.9 billion in 2021 and is expected to surpass USD XX billion by 2031, expanding at a CAGR of 13.4 % during the forecast period, 2021–2031. The market's growth is attributed to the increasing demand for nuclear power generation and the rising need for oil & gas production.

INTRODUCTION

Molten Salt Reactor is a nuclear reactor fission power system that uses an electric neutron flux to generate heat. The MSR (Molten Salt Reactor) uses molten liquid fluoride salt at low pressure. Molten salt reactors are used to meet the increasing requirement for electricity. Salt is used as a coolant as well as fuel. Liquid Fluoride Thorium Reactor (LFTR), is the most prominent type of molten salt reactor. In this type of reactor uranium and thorium is dissolved in fluoride salt for electricity production.

Market Trends, Drivers, Restraints, and Opportunities

• Growing demands for a cleaner source of energy coupled with the multifunctional development of MSRs are expected to drive the market.
• Fluctuations in the supply of renewable energy sources are anticipated to propel the global molten salt reactor market.

Scope of the Report

Market Segment Insights

The thorium segment is projected to register a considerable CAGR

Based on type, the molten salt reactor market is divided into uranium, thorium, and plutonium. The thorium segment is expected to expand at a rapid pace during the forecast period owing to the availability of thorium.

The power & energy segment is expected to expand at a rapid pace

Based on application, the molten salt reactor market is divided into power & energy, shipping, oil & gas, and others. The power & energy segment is expected to expand at a rapid pace during the forecast period.

The North American region is anticipated to constitute a key market share

In terms of regions, the molten salt reactor market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of the North American region is expected to constitute a key share of the market during the projected period owing to its high nuclear power generation capacity. However, the market of Latin America and Europe is anticipated to expand at a rapid pace during the forecast period. The growth in the region is attributed to the increasing electricity and power demand and rising investments in nuclear plants.

Competitive Landscape

Key players competing in the molten salt reactor market are ThorCon USA, Inc. (U.S.); Moltex Energy Ltd (U.S.); TRANSATOMIC (U.S.); Flibe Energy, Inc. (U.S.); Terrestrial Energy Inc (Canada); Southern Company (U.S.); KAIROS POWER LLC. (U.S.).

FAQs

Mention the market size of the Molten Salt Reactor in 2021.

The market size of the Molten Salt Reactor in 2021 was USD 1.9 billion.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 13.4%.

What are the key drivers of the market?

The market's growth is attributed to the increasing demand for nuclear power generation and the rising need for oil & gas production.

What segments are covered in the Molten Salt Reactor report?

The segments covered in the report are type (uranium, thorium, and plutonium), application (power & energy, shipping, oil & gas, and others).

Mention which region is expected to hold the highest share of the Molten Salt Reactor market.

The North American region is expected to hold the highest share of the Molten Salt Reactor market.