Nuclear Energy Boom: Strait Closure Spurs Uranium Demand & Reactor Construction - News and Statistics

Mar 28, 2026

According to a report from Yahoo Finance, the ongoing Middle East conflict and resulting closure of the Strait of Hormuz is impacting global energy supplies. A significant portion of the world’s oil transits this route, affecting several major economies.

Japan relies on the strait for over half its oil and gas imports, with South Korea, India, Taiwan, and China also heavily dependent. These nations had previously initiated investments in nuclear power capacity before the current conflict.

Japan has been reactivating nuclear reactors since 2015. South Korea intends to bring two new reactors online by 2038. India currently has eight reactors under construction, while China had 33 being built as of mid-2025. The situation has underscored arguments for greater energy independence.

This shift creates demand for uranium to fuel new reactors. Cameco (NYSE: CCJ), the world’s second-largest uranium miner, supplied 15% of global uranium production in 2025. The company operates high-grade mines at McArthur River/Key Lake and Cigar Lake.

Cameco recently signed a long-term supply agreement to provide uranium to India from 2027 through 2035. The company also holds a significant stake in Westinghouse, an engineering firm that produces the AP1000 nuclear reactor model.

China operates four AP1000 reactors and has fourteen more under construction. The United States has two in operation with additional units planned, and India has selected six for its future nuclear expansion.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

REPORT DESCRIPTION
RESEARCH METHODOLOGY AND THE AI PLATFORM
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
GLOSSARY AND SPECIFIC TERMS

2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

KEY FINDINGS
MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO

3. MARKET OVERVIEW

Understanding the Current State of The Market and its Prospects

MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
MARKET FORECAST TO 2035

4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

Finding New Products to Diversify Your Business

TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
BEST-SELLING PRODUCTS
MOST CONSUMED PRODUCTS
MOST TRADED PRODUCTS
MOST PROFITABLE PRODUCTS FOR EXPORT

5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

TOP COUNTRIES TO SOURCE YOUR PRODUCT
TOP PRODUCING COUNTRIES
TOP EXPORTING COUNTRIES
LOW-COST EXPORTING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Export

TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
TOP CONSUMING MARKETS
UNSATURATED MARKETS
TOP IMPORTING MARKETS
MOST PROFITABLE MARKETS

7. PRODUCTION

The Latest Trends and Insights into The Industry

PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

8. IMPORTS

The Largest Import Supplying Countries

IMPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

9. EXPORTS

The Largest Destinations for Exports

EXPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

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