Nuclear revival provides glowing outlook for uranium

Demand for uranium soars

In 2025, nuclear power is seeing its most significant growth in decades. According to the International Energy Agency (IEA), global nuclear electricity generation is expected to reach an all time high, with 70 gigawatts of new capacity under construction in more than 15 countries. To put that into context, it’s roughly the same as the UK’s peak winter electricity demand. 

As nuclear capacity grows, so does demand for uranium. The World Nuclear Association forecasts a 28% increase in uranium demand by 2030, rising from 67,000 tonnes in 2024 to nearly 87,000 tonnes a year. By 2040, demand is expected to more than double. 

This surge has triggered a sharp rebound in uranium prices. The market price has climbed from $63.50 per pound in early 2025 to over $83.50 by September, reflecting renewed investor interest amid tightening supply. 

Unlike gold or other metals, uranium cannot be physically held by retail investors due to its radioactive nature. As a result, several index-tracking exchange traded products (ETPs) and exchange traded funds (ETFs) have emerged to gain access to this growing theme.

What it means for investors

For uranium producers, the broader supply chain and investors, the outlook is bullish. Rising demand, limited supply, and supportive policy are aligning to create strong market fundamentals. Shares of uranium miners have surged, and exploration is ramping up in Canada, Australia, and Africa. 

However, the sector isn’t immune to risks. It remains highly sensitive to policy shifts, public sentiment, and geopolitical tensions. Large scale reactor projects in advanced economies are often plagued by delays and cost overruns. Concerns persist over radioactive waste, safety, and long-term viability. 

As the nuclear revival unfolds, uranium is emerging as both a beneficiary and a bellwether of the global energy transition. Its price movements reflect broader shifts in energy policy, technological demand, and geopolitical strategy. 

For investors, uranium offers exposure to one of the most dynamic and strategically important sectors in the clean energy landscape - though not without volatility. So, what are the low-cost index solutions available for those looking to invest in this theme?

ETF options for uranium exposure

• Global X Uranium UCITS ETF* - this ETF tracks 48 global companies involved in uranium mining and the production of nuclear components. It was launched in 2022 and has a solid $483 million in assets under management (AUM). The ongoing charge figure (OCF) is 0.65%.
• VanEck Uranium and Nuclear Technologies UCITS ETF* - tracks just 25 companies operating in the global uranium and nuclear energy 
  sector. The ETF was launched in 2023 and now has an impressive $1.6 billion in AUM. The OCF is 0.55%.
• WisdomTree Uranium and Nuclear Energy UCITS ETF* - the ETF tracks 45 companies involved in the uranium and nuclear energy industry. This ETF was only launched in March 2025 so its AUM is $97 million which has grown well since launch this year. The OCF is 0.45%.
• Global X Disruptive Materials UCITS ETF* the ETF tracks 49 global companies which produce metals and other raw materials - companies involved in the exploration, mining, production of Zinc, Palladium & Platinum, Nickel, Manganese, Lithium, Graphene & Graphite, Copper, Cobalt & Carbon Fibre. Despite launching in 2022, the AUM remains small at just $18 million. The OCF is 0.50%.

You can also gain indirect exposure through global mining companies and thematic ETFs such as the L&G Battery Value Chain UCITS ETF. It includes companies that are providers of certain electro-chemical energy storage technology (i.e., battery technology) and mining companies that produce metals that are primarily used for manufacturing batteries.

*These ETFs don’t feature on the research team’s review list and aren’t personal recommendations to buy or sell.