The Market Reports

Synopsis
The global market for Heavy Water was estimated to be worth US$ 286 million in 2024 and is forecast to a readjusted size of US$ 336 million by 2031 with a CAGR of 3.5% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Heavy Water cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
Deuterium oxide, also known as “Heavy Water (D20)” or “deuterium water”, is the compound of oxygen and the heavy isotope of hydrogen, namely deuterium. It is called Heavy Water because its density is greater than H₂O and its chemical formula is D₂O. Deuterium contains a neutron and proton in its nucleus, which makes it twice as heavy as protium (hydrogen), which contains only one proton. Deuterium oxide is colorless and odorless liquid in normal temperature and pressure. Compared to ordinary water, its chemical characteristic is relatively inactive with specific gravity of 1.10775 (25 ℃), melting/freezing point of 3.82 ℃, and boiling point of 101.42 ℃. The hydrogen bond strength and degree of association between Heavy Water molecules are both stronger than that of ordinary water molecules.
Regionally, established markets in North America and Europe have historically dominated heavy water production due to their early nuclear power programs and substantial infrastructure investments. However, the Asia-Pacific region has emerged as a significant player, with India leading the way through its extensive network of heavy water plants operated by the Heavy Water Board (HWB). In Latin America, Argentina continues to maintain a robust heavy water sale.
Key industry players are predominantly state-backed organizations with deep expertise in nuclear technology. For instance, India’s Heavy Water Board operates seven major production plants with a combined capacity estimated at around 400 tonnes per year, supporting both domestic nuclear power generation and export markets. In Canada, historical heavy water production facilities such as the Bruce Heavy Water Plant were once among the world’s largest. Other countries, including Iran, also have significant heavy water production capacities tailored to their specific nuclear energy and defense needs. These entities collectively shape a competitive landscape that is both mature and innovation-driven.
This report aims to provide a comprehensive presentation of the global market for Heavy Water, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Heavy Water by region & country, by Type, and by Application.
The Heavy Water market size, estimations, and forecasts are provided in terms of sales volume (Tons) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Heavy Water.
Market Segmentation
By Company
Isowater
Cambridge Isotope Laboratories
Mesbah Energy
Heavy Water Board (HWB)
Segment by Type
Purity 99%
Purity 99.5%-99.9%
Purity 99.9% and above
Segment by Application
Nuclear Power
Deuterated NMR Solvents
Semiconductor
OLED
Pharmaceutical
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Heavy Water manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Heavy Water in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Heavy Water in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index