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Radioactive Waste Management Market is expected to rise at a remarkable CAGR By 2023

Radioactive Waste Management Market: Global Industry Analysis, Size, Share, Analysis, Growth, Trends and Forecast 2015 - 2023
John Collins | 30.07.2016
Radioactive waste is any solid, liquid or gaseous waste containing radionuclides and is no longer needed at the plant that must be managed and disposed safely.. Radioactive waste is broadly classified into low level, intermediate and high level waste depending upon the amount of radiation it emits, form of radiation and time span for which it will continuously emit radiation. Low-level waste is produce from industry, hospitals and from the nuclear fuel cycle. It includes clothing, tools, filter, paper and many more which contains small amount of short lived radioactivity.

Intermediate level waste contains high radioactivity and requires shielding during transportation and treatment for some material. It includes chemical sludge, waste material from decommissioned reactors, resins and metal fuel cladding which makes 4% of radioactivity and 7% of volume from radioactive waste. High level waste is produced when uranium fuel is burned in a nuclear reactor and it requires shielding and cooling as it is highly radioactive and contains heat above 2KW/m3. High level waste produce more than 95% of radioactivity during electricity generation.

Radioactive materials are widely used in industries, medicine, sterilization and Environment. Radiopharmaceuticals contains radioactive material which helps in the diagnosis and treatment of many diseases and can be inhaled, injected or taken orally as medicine. In industry radioactive material are used in civil engineering, process control in manufacturing hub, material analysis, surveillance of oil and gas pipe for leakage, oil and gas exploration, and industrial radiography. In agriculture sector radioactive material are used for food preservation, insect control and to improve the quality and production of food. Radioactive material also find its application in measuring soil quality, moisture content, and erosion rate. Sterilization is one the best application of radiation and can be used for sterilization of syringes, surgical gloves, dressings and heart valves after packaging. Radiation can also be used in sterilization of powder and ointment where traditional methods such as heating cannot be used. Radioactive material are used to monitor the environmental process which includes monitoring of pollutant, moisture and silt. Radioactive materials are also used to measure the pollution and effluent discharge from different industries, and the movement of sand around river and bays.

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Radioactive waste management prime objective is to insulate the radioactive waste from environment and human being for the period waste remains hazardous. European countries determined to set up a European Repository Development Organization (ERDO) to work together on nuclear waste disposal. Environmentally Safe Disposal of Radioactive Materials is composed of the organizations responsible for radioactive waste management in eleven countries: Canada (Ontario Power Generation), Belgium (ONDRAF/NIRAS), Finland (POSIVA OY), Japan (NUMO), Sweden (SKB), France (ANDRA), Germany (BfS, DBE), Spain (ENRESA), Switzerland (NAGRA), the United Kingdom (Nirex), and the United States (OCRWM).

Nuclear power is the only technology which can produce large amount of energy and takes responsibility of waste generated during the process and includes its full cost into the project. The radioactive waste generated during the nuclear power generation is very low as compared to the fossil fuel electricity generation. Safe method to dispose the high radioactive material is technically proven which makes it viable and are key drivers for it. However lack of knowledge and poor handling and treatment practices act as a restraint.

Some of the major players in radioactive waste management are Andra Sites International, Areva, Augean PLC, BHI Energy, Perma Fix Environmental Services, Sogin, SKB-Swedish Nuclear Fuel and Waste Management Co. and many more.

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