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Nuclear Waste Management Market to Reach $5.7 Billion, Globally, by 2032 at 1.9% CAGR: Allied Market Research

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The global nuclear waste management market is experiencing growth due to factors such as radioactive hazard mitigation and environment protection, volume reduction & long-term solutions, resource conservation, and energy generation

PORTLAND, Ore., Aug. 3, 2023 /PRNewswire/ — Allied Market Research published a report titled, Nuclear Waste Management Market by Waste Type (Low-Level Waste, Intermediate-Level Waste, and High-Level Waste), Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, Gas Cooled Reactor, and Pressurized Heavy Water Reactor), and by Disposal Method (Incineration, Storage, Deep Geological Disposal, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global nuclear waste management industry generated $4.8 billion in 2022 and is estimated to reach $5.7 billion by 2032, exhibiting a CAGR of 1.9% from 2023 to 2032. 

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/2214

Prime Determinants of Growth: 

The global nuclear waste management market is experiencing growth due to factors such as radioactive hazard mitigation and environment protection, volume reduction and long-term solutions, resource conservation, and energy generation. However, the environmental risk and radioactive hazards, the rise in awareness and public perception, and the high cost and stringent regulations restrain market growth to some extent. Nevertheless, technological advancements for energy conservation and economic development are expected to provide ample growth opportunities throughout the forecast period. 

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Report Coverage & Details: 

Report Coverage

Details

Forecast Period

2023–2032

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Base Year

2022

Market Size in 2022

$4.8 billion

Market Size in 2032

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$5.7 Billion

CAGR

1.9 %

No. of Pages in Report

300

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Segments Covered

Waste Type, Reactor Type, Disposal Method, and Region

Drivers

Radioactive hazard mitigation and environment protection

Volume reduction and long-term solutions

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Resource conservation and energy generation

Opportunities

Technological advancements for energy conservation

Economic Development

Restraints

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Environmental risk and radioactive hazards

Rise in awareness and public perception

High cost and stringent regulations

 

The high level waste segment is projected to maintain its dominance throughout the forecast period- 

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By waste type, the high level waste segment held the highest market share in 2022, accounting for more than one-third of the global nuclear waste management market revenue, and is expected to maintain its dominance throughout the forecast period. The same segment would also showcase the fastest CAGR of 2.1% during the forecast period. High-level nuclear waste (HLW) refers to highly radioactive materials that are produced as a result of nuclear fuel reprocessing or spent fuel from nuclear power plants. HLW contains long-lived radionuclides and poses significant risks to human health and the environment, requiring strict management measures. 

Procure Complete Report (300 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/nuclear-waste-management-market

The pressurized water reactor segment is expected to maintain its leadership status during the forecast period- 

By reactor type, the pressurized water reactor segment held the highest market share in 2022, accounting for nearly two-fifths of the global nuclear waste management market revenue, and is expected to maintain its leadership status during the forecast period. The same segment would also display the fastest CAGR of 2.1% during the forecast period. Pressurized Water Reactors (PWRs) are a common type of nuclear reactor used in commercial nuclear power plants. The management of nuclear waste generated from PWRs involves several key steps and considerations. The primary waste generated in PWRs is spent fuel, which consists of fuel assemblies that no longer sustain a chain reaction. The spent fuel is stored in the pools for several years to allow the heat and radioactivity to decrease. 

The deep geological disposal segment is expected to maintain its lead position during the forecast period- 

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By disposal method, the deep geological disposal segment held the highest market share in 2022, accounting for more than two-thirds of the global nuclear waste management market revenue, and is expected to maintain its lead position during the forecast period. The same segment would also cite the fastest CAGR of 2.0% during the forecast period. Deep geological disposal is a method used for the long-term management and disposal of high-level radioactive waste (HLW) and some types of intermediate-level waste (ILW). It involves placing the waste deep underground in specially designed repositories located in stable geological formations. Deep geological disposal facilities undergo rigorous safety assessments to evaluate the long-term performance and containment of the waste. Regulatory bodies establish stringent regulations and oversight to ensure compliance and protect human health and the environment. 

For Purchase Inquiry: https://www.alliedmarketresearch.com/nuclear-waste-management-market/purchase-options

Asia-Pacific region to garnered the market by 2032- 

By region, Asia-Pacific held the highest market share in 2022, garnering more than two-fifths of the global nuclear waste management market revenue, and is expected to maintain its dominance throughout the forecast period. Japan has been actively pursuing a geological repository site selection process, while China is in the early stages of repository planning. International cooperation and knowledge sharing play an important role in nuclear waste management in the Asia-Pacific region. Countries collaborate through organizations such as the International Atomic Energy Agency (IAEA) to share best practices, conduct research, and develop international guidelines and standards for waste management. However, the Europe region is expected to witness the fastest CAGR of 2.2% from 2023 to 2032. Nuclear waste management in Europe involves the handling, storage, treatment, and disposal of radioactive waste generated from nuclear power plants, research facilities, medical institutions, and other sources of nuclear technology. Reprocessing of nuclear waste has been practiced in some European countries, including France and the United Kingdom. Several countries, including Sweden, Finland, France, and Switzerland, are at different stages of planning and implementing deep geological repositories. These repositories are designed to provide long-term isolation and containment of radioactive waste in stable geological formations. 

Leading Market Players: – 

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  • Augean 
  • Perma-fix environmental services, Inc. 
  • Svensk karnbranslehantering ab 
  • Stericycle, Inc. 
  • Us Ecology, Inc. 
  • Veolia environment sa. 
  • Bechtel corporation 
  • Waste control specialists LLC (wcs) 
  • Energy solutions 
  • JGC HOLDINGS CORPORATION 

The report provides a detailed analysis of these key players in the global nuclear waste management market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario. 

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Nuclear Energy Market: Global Opportunity Analysis and Forecast, 2023–2032

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
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Wilmington, New Castle,
Delaware 19801 USA.
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Cision View original content:https://www.prnewswire.co.uk/news-releases/nuclear-waste-management-market-to-reach-5-7-billion-globally-by-2032-at-1-9-cagr-allied-market-research-301892806.html

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Blockchain Press Releases

Taiwan’s Leading Crypto Market Leader BitoGroup Partners with Digital Bank to Launch World’s First Crypto-Friendly Bank Account

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TAIPEI, June 21, 2024 /PRNewswire/ — BitoGroup, the leading cryptocurrency market leader in Taiwan, today announced its partnership with Far Eastern International Bank Bankee to launch the world’s first dedicated crypto-friendly bank account. As cryptocurrency adoption by international institutions continues to grow, BitoGroup began serving financial institutions two years ago, setting a precedent as the first cryptocurrency exchange to form an alliance with financial institutions. This partnership promotes seamless integration between traditional banks and third-party payment processors. It represents a significant breakthrough for the financial market and has sparked considerable interest within Taiwan’s financial sectors. By collaborating with large institutions, BitoGroup aims to strengthen the cryptocurrency ecosystem and plays a crucial role in driving innovation in financial technology.

The world’s first dedicated bank account for cryptocurrency users is the result of three years of research and effort by BitoGroup and Bankee. This innovative service was achieved by integrating the systems and service processes of the two companies, while ensuring compliance with regulations and supervisory measures, and prioritizing user’s experience.

“Both BitoGroup and Bankee place great emphasis on the security of member assets, platform stability, and user transaction experience,” said Titan Cheng, Founder and CEO of BitoGroup., “Since the initial pilot phase, we have received positive feedback from the community. The Bankee dedicated account can be linked to BitoPro’s exchange account and set up in as little as one hour, significantly enhancing user’s convenience. During the pilot phase, the average daily transaction amount per user increased by 25%. With over one million members in Taiwan, we expect explosive growth once the service is officially launched.

Cheng emphasized that the cryptocurrency community is excited about the collaboration between exchanges and traditional financial institutions. This collaboration will positively improve user confidence in transactions and reverse the negative image of cryptocurrency scams. In the future, BitoGroup will join forces with Bankee to introduce more services, enriching the flexibility of utilizing both fiat and cryptocurrencies.

BitoPro has also partnered with Taiwan’s largest third-party payment processors, Neweb Technologies, to launch “BitoPay”, enabling 300,000 merchants and millions of members to use cryptocurrency for payments, making “BitoPay” the most widely accepted crypto payment solution in Taiwan.

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BitoGroup believes that partnering with large institutions to integrate cryptocurrency use into existing operational systems is not only the best way to promote cryptocurrency usage but also fosters innovation. Initiatives such as exchanging convenience store loyalty points for digital currency, enabling cryptocurrency payments through e-commerce third-party payment services, and the recent launch of crypto-friendly accounts with Bankee, all contribute to expanding the existing ecosystem. BitoGroup’s robust blockchain infrastructure, combined with a focus on optimizing service processes through technology, will create a win-win situation for institutions, exchanges, and users.

Taiwan’s cryptocurrency industry has officially entered a new era of regulation with the establishment of the Virtual Asset Service Provider (VASP) Association. BitoGroup’s founder and CEO, Titan Cheng, has been elected as the first Chairman of the VASP Association. This close cooperation between cryptocurrency and traditional financial institutions will help strengthen the trust of regulatory authorities and financial institutions in the cryptocurrency industry, laying a solid foundation for the crypto-financial system.

About BitoGroup

Founded in 2014, BitoGroup aims to use blockchain technology to achieve the goal of inclusive finance, including assisting companies and consumers to enter the new era of Web3. The businesses of the group include BitoPro (a cryptocurrency exchange), BELS (an NFT empowerment platform), and O2 META (a metaverse-focused social media platform).

View original content:https://www.prnewswire.co.uk/news-releases/taiwans-leading-crypto-market-leader-bitogroup-partners-with-digital-bank-to-launch-worlds-first-crypto-friendly-bank-account-302178876.html

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Blockchain

Digital Currency Initiative Launches in Taiwan by Collaborating with Prestigious University

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In an innovative effort to revolutionize digital financial education, a prominent digital currency provider has teamed up with a renowned university in Taiwan. This strategic collaboration aims to equip students with advanced knowledge and practical experience, preparing them for the future of finance.

Empowering Future Financial Professional

The partnership focuses on immersing students in the complex world of digital assets, blockchain technology, and cutting-edge financial instruments. Industry experts will offer invaluable insights and mentorship, enhancing students’ understanding and skills in this rapidly evolving field.

Curriculum Highlights:

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  • Blockchain Principles: Foundational knowledge of blockchain technology.
  • Critical Thinking: Developing analytical skills for problem-solving in digital finance.
  • Risk Assessment: Strategies for identifying and managing financial risks.
  • Legal Compliance: Understanding the regulatory landscape and compliance requirements.
  • Career Insights: Exploring potential career paths in the digital finance industry.

Commitment to Digital Economy Growth

This initiative underscores a commitment to fostering the digital economy’s growth by highlighting the stability of digital assets against traditional currencies. The newly introduced digital token combines traditional asset stability with blockchain security, offering a robust financial instrument for the future.

The digital currency provider has a long-standing history of promoting blockchain education and advocating for financial inclusivity. By facilitating cross-border transactions and investing in emerging markets, the organization continues to play a crucial role in shaping digital finance’s future.

Advancing Financial Literacy and Inclusivity

This collaborative effort represents a significant step towards democratizing financial literacy and empowering individuals worldwide to engage with the evolving digital currency landscape.

Additional Facts:

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  • Taiwan’s Blockchain Hub: Taiwan actively promotes itself as a hub for blockchain and digital currency innovation through various initiatives.
  • Research and Development: The partnership is expected to spur increased R&D activities in digital assets, benefiting both academia and industry.
  • Regulatory Exploration: Taiwan’s government is interested in exploring regulatory frameworks for digital currencies and blockchain technology, creating a supportive environment for such collaborations.

Key Questions Addressed

  1. Impact on Adoption: How will the collaboration between the digital currency provider and the university impact the adoption of digital currencies in Taiwan?
  2. Skills and Knowledge: What specific skills and knowledge will students gain from the curriculum focusing on blockchain technology and digital assets?
  3. Regulatory Compliance: How does the initiative address potential regulatory challenges and compliance issues in the digital currency space?

Advantages and Disadvantages

Advantages:

  • Enhanced Education: Offering students unique educational opportunities in digital finance and blockchain technology.
  • Industry-Academia Bridge: Providing hands-on experience and mentorship to bridge the gap between academia and industry.
  • Economic Growth: Contributing to the growth and development of the digital economy in Taiwan and beyond.

Disadvantages:

  • Curriculum Updates: Potential challenges in keeping the curriculum up-to-date with the rapidly evolving digital currency landscape.
  • Practical Exposure: Ensuring students receive practical, real-world experience to complement theoretical knowledge.
  • Regulatory Balance: Balancing the promotion of digital currencies with the need for regulatory compliance and risk management.

The collaboration between the digital currency provider and the Taiwanese university marks a significant milestone in digital financial education. By integrating industry expertise with academic rigor, this partnership aims to nurture the next generation of financial professionals and foster the growth of the digital economy.

Source: smartphonemagazine.com

The post Digital Currency Initiative Launches in Taiwan by Collaborating with Prestigious University appeared first on HIPTHER Alerts.

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Blockchain

Binance Appeals Against $4.3M Penalty Imposed by Canada Regulator

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In a recent court appeal, Binance argued that it does not specifically target Canadian customers, claiming its activity in Canada is merely a byproduct of its international operations, according to a June 19 report by the Canadian Press. The exchange revealed that although it had previously attempted to establish a Canadian presence, these plans were abandoned. By May 2023, Binance had fully exited the Canadian market, citing new regulations on stablecoins and investor restrictions that made continued operations unfeasible. Despite its departure, Binance acknowledged the sentimental value of Canada, being the home country of its founder.

In May, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a $4.3 million fine on Binance for non-compliance with anti-money laundering (AML) and terrorist financing rules. FINTRAC claimed that between June 2021 and July 2023, Binance failed to report over 5,000 transactions of $10,000 or more. Additionally, despite having multiple opportunities, Binance failed to register as a money services business within the deadlines set by the regulator.

Beyond its issues in Canada, Binance is facing a multitude of legal challenges globally. In April, a class-action lawsuit was filed against the exchange in Canada, accusing it of violating securities laws. The plaintiffs allege that Binance sold crypto derivative products to everyday investors without proper registration, breaching Ontario’s Securities Act and federal regulations. This lawsuit, representing tens of thousands of Canadian investors, seeks compensation and the reversal of unauthorized trades.

Globally, Binance has also faced significant financial penalties. In November, the exchange settled with US authorities, agreeing to a $4 billion fine for violations of anti-money laundering and sanctions laws. Similarly, the Indian Financial Intelligence Unit imposed a $2.24 million fine, the largest ever against a crypto entity in the country, for failing to comply with AML regulations.

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Binance’s regulatory and legal troubles illustrate the significant challenges faced by cryptocurrency exchanges operating across multiple jurisdictions. While the exchange continues to navigate these complexities, its ability to comply with global regulatory standards and address legal disputes will be critical to its long-term viability and reputation in the market.

Source: cryptonews.com

The post Binance Appeals Against $4.3M Penalty Imposed by Canada Regulator appeared first on HIPTHER Alerts.

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