Explosives and Pyrotechnics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Explosives and Pyrotechnics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : January, 2023 | Chemical & Materials

Report Digest

Global Explosives and Pyrotechnics Market: Snapshot

The latest business intelligence reports indicate that the global explosives and pyrotechnics market will expand at the steady growth rate of 4 % over the forecast period i.e. 2016 to 2024.

The business intelligence studies also projects that the global explosives and pyrotechnics market will grow to hit the evaluation mark of US$ 31.95 billion by the end of the forecast period i.e. 2024.

The growth in the global explosives and pyrotechnics market is anticipated to rise within the next few years, owing to the rising usage of the products and solutions in the industry within the mining as well as construction activities.

Furthermore, the increasing number of infrastructure development projects in various developed and developing economies in the Asia Pacific region.

Additionally, the rising government expenditure aimed at furthering the efforts for infrastructural development in Middle East and Africa as well as Asia Pacific is also fuelling the development of the global explosives and pyrotechnics market.

The leading end users for the products and solutions in the global explosives and pyrotechnics market are mining, military, entertainment, construction, and consumer goods, among others.

Furthermore, the increasing dependency on coal for the purposes of energy generation has given an impetus on increasing the mining activities around the world.

This trend has further intensified the demand within the global explosives and pyrotechnics market in coming years. Additionally, the increasing ores as well as mineral mining projects in several developing economies in regions such as Asia Pacific, Latin America, and Middle East and Africa are also fuelling the demand within the global explosives and pyrotechnics market.

The rising requirement for technological enhancements as well as the emerging smart weapons is anticipated to foster the growth in the global explosives and pyrotechnics market in the next few years.

Global Explosives and Pyrotechnics Market: Overview

The term pyrotechnics refers to substances or products that are explosive or combustible. Pyrotechnics is an umbrella term describing fireworks displays, realistic-appearing explosions in films, and other effects related to fireworks. These products play a pivotal role in the entertainment industry for creating a number of dramatic effects such as fire accidents and blasts. There are several types of pyrotechnic devices such as mine, gerb, flash, concussion, waterfall, flame projector, maroon, ice fountain, comet, mortar hit, crossette, line rocket, smoke, airburst, and fireball. Whereas, the types of explosives include TNT, dynamite, gun powder, ANFO, and nitroglycerin. High explosives and low explosives are the two broad categories of explosives.

Global Explosives and Pyrotechnics Market: Key Trends

The rising mining activities across several regions in the world, coupled with the popularity of firework shows at various social events, are some of the most prominent growth drivers of the market. The rising demand for gold and diamond jewelry is likely to aid the expansion of the market, as these substances require mining explosives. The military explosives segment has been adopting smart explosives, boosting market growth. Moreover, an increase in the defense expenditure worldwide is likely to result in a greater demand for technologically smart weapons. Mining of coal is expected to present substantial opportunities because the ever-increasing population worldwide has been necessitating energy generation.

However, the market might face restriction due to the harm caused to the environment, animals, and humans from emissions and noise by explosives and pyrotechnics.

Global Explosives and Pyrotechnics Market: Market Potential

In August 2016, Hanwha Corp. entered an agreement with an Indonesian government chemical company, Dahana, whereby Hanwha will supply ‘non-electric detonators’ that are half made. Danaher will further develop the detonators and sell them in Indonesia. Hanwha is looking forward to expand its penetration in the mining sector. This company has been supplying high-quality explosives and pyrotechnics to the Indonesian market since 2012.

Hanwha Corp. also signed a memorandum of understanding (MOU) with Ethiopian Construction Works Corp. in early June, 2016. The company is to provide heavy duty equipment for Ethiopia’s infrastructural development.

Global Explosives and Pyrotechnics Market: Regional Outlook

Based on geography, the global market for explosives and pyrotechnics can be segmented into Asia Pacific, North America, Europe, the Middle East and Africa, and the Rest of the World (RoW). The countries of Africa are expected to exhibit phenomenal growth potential due to the vast amount of minerals and natural ores that await mining.  The Middle East will represent a large portion of the market revenue owing to its flourishing oil and gas industry. Presently, the global market for explosives and pyrotechnics appears to be dominated by Asia Pacific, with China and India at the fore. Europe has been spending more on arms and ammunition, thereby contributing towards market growth. While in North America, the presence of key market players in the U.S. is likely to boost the expansion of the market.

Global Explosives and Pyrotechnics Market: Competitive Analysis

Some of the major companies operating in the global market for explosives and pyrotechnics are Austin Powder Company, ENAEX, Titanobel SAS, AECI Group, Solar Industries India, Chemring Group, Sasol Limited, Orica Mining Services, Pyro Company Fireworks, Skyburst, Supreme Fireworks, Hanwha Corp., Incitec Pivot, Zambelli Fireworks, Entertainment Fire-works, LSB Industries, Melrose Pyrotechnics, and Angelfire Pyrotechnics. Several leading market players are aiming at expanding their presence in the global market. For example, Orica Mining Services has extended its presence in nearly 100 countries. Similarly, Austin Detonator s.r.o. distributes around 90% of its ouput to the U.S., European Union, and Iceland. It has also started catering to the requirements of the countries in Asia pacific and the Middle East.

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?