Heavy Water (D20) Market Size, Share, Growth, and Industry Analysis, By Type (0.99, 0.998, and 0.999), By Application (Deuterium Production, Deuterated Solvents, Nuclear Industry and Others), Regional Insights, and Forecast To 2031

Updated On: 15 April 2024

Heavy Water (D20) Market Report Overview

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The global heavy water (D20) market size was USD 51 million in 2022 & the market is expected to reach USD 87 million in 2031, exhibiting a CAGR of 6.1% during the forecast period.

Heavy water, also known as deuterium oxide or D2O, is a form of water where the hydrogen atoms are replaced with deuterium, an isotope of hydrogen. Deuterium contains both a proton and a neutron in its nucleus, whereas the most common isotope of hydrogen, known as protium, contains only a proton. As a result, heavy water is approximately ten percent denser than regular water.

The market for heavy water (D20) is projected to escalate with a notable CAGR over the forecast period due to the growth of the nuclear power industry, government policies and regulations regarding nuclear energy, and advancements in scientific research. Furthermore, in terms of type, the type of 99.8% is a significant segment. Whereas, the deuterated solvents is the leading application segment in the market.

COVID-19 Impact: Pandemic Disrupted the Nuclear Power Industry to Affect Market Growth

The COVID-19 pandemic had a notable impact on the heavy water market. Firstly, disruptions occurred in the nuclear power industry due to restrictions and labour shortages, affecting the demand for heavy water used in nuclear reactors. Secondly, scientific research activities also faced challenges, with closures and limited capacity in laboratories, potentially slowing down experiments requiring heavy water. Resulted, the overall market confronted a slowdown in market development. However, as the industry has overcome the impact of the pandemic to a great extent, the market is expected to rebound to the pre-pandemic growth rate.

Latest Trends

"Trend of Research & Development on Applications Inflate the Market Scope"

The market is expected to rise substantially with the growing trends and development in the market to provide new dynamics. Research and development applications are a key trend in the market. As heavy water continues to be utilized in research and development activities across various scientific disciplines. Researchers use heavy water for isotope labelling experiments, studying enzyme reactions, and investigating biological and chemical processes. The focus on scientific advancements and the development of new technologies could lead to increased demand in this segment. Therefore, this trend is anticipated to support the heavy water (D20) market growth over the projection timeframe.

Heavy Water (D20) Market Segmentation

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• By Type Analysis

According to type, the market can be bifurcated into 0.99, 0.998, and 0.999.

• By Application Analysis

Based on application, the market can be divided into Deuterium Production, Deuterated Solvents, Nuclear Industry and Others.

Driving Factors

"Growth of the Nuclear Power Industry Propel the Demand for the Heavy Water"

The demand for heavy water is significantly influenced by the nuclear power sector. Heavy water is used as a coolant and moderator in certain types of nuclear reactors, such as pressurized heavy water reactors (PHWRs). The growth and expansion of nuclear power plants in various countries contribute to the demand for heavy water which will boost the growth of the market as well.  

"Mounting Research and Development Projects Aid the Growth of the Market"

The growth of the market is also driven by the rising number of research and development projects in the public sector as well as in the private sector. As, heavy water plays a crucial role in scientific research, particularly in fields such as chemistry, biology, and nuclear physics. It is utilized in isotope labelling experiments, metabolic studies, and investigations into various chemical and biological processes. The ongoing advancements in scientific research drive the demand for heavy water in this segment.

Restraining Factors

"High Production Costs Can Halt the Market Progress"

The expansion of the market can be hampered due to high production costs. Since heavy water production is a complex and energy-intensive process, which leads to high production costs. The cost of extracting, purifying, and concentrating heavy water is typically higher compared to regular water. The expense associated with heavy water production can act as a restraining factor, limiting its widespread adoption and market growth.

Heavy Water (D20) Market Regional Insights

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"North America Dominates the Market due to Extensive Production Capabilities"

As per market research, North America has been a significant region. Specifically, Canada has established itself as a major player in the heavy water market due to its extensive production capabilities. The country operates several large-scale heavy water production facilities, primarily located in the province of Ontario. Canada's heavy water production has primarily been driven by its nuclear power industry, where heavy water is utilized as a moderator and coolant in pressurized heavy water reactors (PHWRs). Additionally, North America holds the majority of the heavy water (D20) market shares globally. 

Key Industry Players

"Key Players Invest Heavily in Expanding Production Capacities to Meet Growing Demand"

With regard to key players, eminent companies in the heavy water market stimulate market growth through various strategies. They invest in expanding production capacities to meet growing demand, improving efficiency, and reducing costs. Leading brands also engage in research and development activities, driving technological advancements and exploring new applications for heavy water. Collaborations with industry stakeholders and research institutions foster innovation and identify emerging market opportunities. Further, the top five companies occupied significant shares of the market.

List of Market Players Profiled

• Isowater
• Heavy Water Board (HWB)
• deutraMed Inc
• Mesbah Energy

Report Coverage

This report defines the heavy water (D20) market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.