UxC is pleased to announce the publication of the latest annual edition of its Conversion & Enrichment Supplier Assessments (CESA) report, issued in December 2025. This report addresses important questions about supply reliability in the conversion and enrichment markets and provides a risk assessment tool to compare all active and prospective suppliers within these markets.
Supplier Profiles & Risk Matrices
Quantitative Risk Assessments
Conversion and enrichment suppliers are evaluated based on ten different risk factors unique to the two industries to derive a numerical score for clear supplier risk comparisons. Risk scores are based on factors including:
- Production capabilities
- Financial and organizational strength
- Operations and regulatory issues
- Exchange rates
- Technologies and R&D
- Trade and government factors
- Transportation and logistics
CESA presents profiles of each existing and potential new supplier in the global conversion and enrichment markets as well as brief descriptions and discussions of smaller, non-primary sellers of conversion/UF6 and SWU/EUP. Supplier profiles include a discussion of each company's status, capacity, production, and operating situation, as well as each firm's respective approach to the market and sales strategies. Comparisons of the latest market shares are also included to highlight each supplier's current position in the global nuclear fuel marketplace. Since being added to the CESA report in the last edition, market shares of converters and enrichers specifically in the open, competitive markets (i.e., those not fully captured by China and Russia) have also been fully updated.
Another critical aspect of this report is to provide market participants with unbiased, quantitative evaluations of the major conversion and enrichment suppliers through a detailed risk matrix approach. CESA's risk matrices use a numerical grading system incorporating ten distinct factors used to assess each converter and enricher, thus allowing for comparative risk assessments. Risk assessments in the CESA are formulated based on the perspective of open market utility customers (i.e., those in markets not fully captured by China or Russia). Moreover, for the first time in this 2025 edition, UxC is also now presenting risk assessments for every potential new conversion and enrichment plant project in the world to provide a quantitative tool to evaluate possible risks to each of the proposed new capacity projects.
Why Purchase this Report?
Combining UxC's extensive and unparalleled experience and knowledge of the nuclear fuel markets, the 2025 CESA report offers readers a critical tool to evaluate and compare suppliers of conversion and enrichment services. In light of the serious fallout from Russia's invasion of Ukraine and other ongoing issues affecting the conversion and enrichment markets, now is the time to comprehensively assess how each existing and potential new supplier stacks up against their peers in these critical nuclear fuel market sectors.
CESA supplier profiles and risk assessments allow utilities to compare each of their suppliers and gauge the relevant risks within their current and potential future supply portfolios.
For suppliers, investors, and others active or interested in following conversion and/or enrichment supply, CESA provides an independent and unique evaluation methodology to identify how each supplier ranks within the current nuclear fuel cycle market.
Companion to CMO/EMO Reports
The CESA report complements our standard Conversion Market Outlook (CMO) and Enrichment Market Outlook (EMO) reports by providing more in-depth background and analyses of conversion and enrichment suppliers. Subscribers to the CMO and EMO will receive a preferential discount for purchasing CESA.
Ordering Information
Please see our product flier and table of contents in Adobe Acrobat PDF format.
UxC's CESA report, published December 2025, is now available for immediate purchase. Pricing is as follows:
- Full Price: US$3,000.00
- Discounted by $500 for subscribers of either CMO or EMO reports
- Discounted by $750 for subscribers of both CMO and EMO reports
To order, please see our online order form.