Luton, Bedfordshire, United Kingdom, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Explosives and Pyrotechnics Market.
Explosives and Pyrotechnics Market size was USD 27.92 billion by 2029 from USD 18 billion in 2021, and is anticipated to grow at 5% CAGR during Forecast Period.
Pyrotechnics holds the largest market share of the global explosive’s pyrotechnics market owing to rising demand for fireworks in multiple festivals such as weddings & Christmas. Surging growth of the tourism industry, where hoteliers are hosting shows that include fireworks is anticipated to propel the Explosives and Pyrotechnics Market over the coming years.
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The global explosives and pyrotechnics market are crowded with established players. These players have commanding say in the market. The innovation used in global explosives & pyrotechnics market is proprietary and needs long term research and development planning implemented efficiently. There are few innovators which have worked in explosives & pyrotechnics but apart from that the market is difficult to enter for any new entrant.
Explosives and Pyrotechnics Market: Notable Developments
- Since the invention of firecrackers in China in 200 B.C., fireworks have advanced dramatically. The flammable mix was introduced to various elements to impart colour to the mostly bright and noisy concoctions used back then. The evolving colour line for fireworks is noteworthy, with the development of blue fireworks being a feat in pyrotechnic research and development. Overcoming the clashing of the blue shade of the evening sky with blue fireworks necessitates the proper balance of copper and other chemicals. Such developments cause a stir in the pyrotechnics market.
- Among the top names in the pyrotechnics sector, the transition of a leader at Orica Mining Services, the world's largest manufacturer and supplier of mine explosives, has piqued the interest of the international community. Michelle Manook, who previously led Orica Mining's government and communications strategy across multiple geographies, has been appointed as the World Coal Association's new CEO. She has extensive managerial experience in a variety of business domains, including mining, though this is her first dedicated presence in the coal industry.
In the Asia Pacific region, global explosive and pyrotechnics market is gaining traction due to substantial growth over the projected period.
Increase in economic growth in the emerging countries, growth and expansion of chemical sector in the Asia Pacific region, rising research and development activities. The emerging economies like India and China are expected to provide a wide range of growth opportunities for players in the market which is driven by their large and growing populations as well as the increasing number of industries in these countries.
Explosives and Pyrotechnics Market Report Scope
| Report Attribute | Details |
| Market size value in 2021 | USD 18 billion |
| Revenue forecast in 2029 | USD 27.92 billion |
| Growth rate | CAGR of 5% from 2022 to 2029 |
| Base year for estimation | 2020 |
| Historical data | 2017 - 2021 |
| Forecast period | 2022 - 2029 |
| Quantitative units | Volume in kilo tons, revenue in USD million/billion, and CAGR from 2022 to 2029 |
| Report coverage | Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Applications, End Users |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Russia & CIS Countries; Benelux; Turkey; Spain; Switzerland; Sweden; Poland; Austria; Norway; Denmark; Finland; Portugal; Czech Republic (CZ); Slovenia; China; India; Japan; Thailand; Brazil; Argentina; Saudi Arabia; South Africa |
| Key companies profiled | Orica Mining Services, Incitec Pivot, Sasol, Austin Powder Company, Enaex, Maxam Corp., AECI Group, ePC Group, Alliant Techsystems, AEL Mining Service and others. |
| Customization scope | Report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
| Pricing and purchase options | The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel. |
Competitive Landscape:
The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality. Innovation is one of the most important and key strategy as it has to be for any explosives & pyrotechnics market. However, companies in the market have also opted and successfully driven inorganic growth strategies like mergers & acquisition and so on.
Key players in global explosives & pyrotechnics market are Orica Mining Services, Incitec Pivot, Sasol, Austin Powder Company, Enaex, Maxam Corp., AECI Group, ePC Group, Alliant Techsystems, AEL Mining Service and others.
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Key Market Segments:
Global Explosives & Pyrotechnics Market by Product, 2020-2029, (USD Million)
- Blasting Agents
- Propellants
- Pyrotechnics
- Others
Global Explosives & Pyrotechnics Market by Application, 2020-2029, (USD Million)
- Mining
- Construction
- Military
- Others
Global Explosives & Pyrotechnics Market by Pyrotechnics Application, 2020-2029, (USD Million)
- Proximate Pyrotechnics
- Consumer Pyrotechnics
- Display Pyrotechnics
- Others
Global Explosives & Pyrotechnics Market by Region, 2020-2029, (USD Million)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Explosives and Pyrotechnics Market: Key Trends
Factors such as the rapid expansion of South Africa's mining industry are creating a large demand for explosives. Recent discoveries of valuable minerals in the region have led to increased mining efforts. This is to discover minerals that are naturally present in the form of ores beneath the Earth's surface. Such initiatives necessitate the use of specialized equipment, such as explosives to create a depression in the Earth's crust. In turn, the overall Explosives and Pyrotechnics Market gains.
Secondly, efforts of nations to expand defense capabilities involves use of advanced arms and ammunition. Modern ammunition involves use of explosives in warfare for heavy destruction, both human and property loss. This fuels demand for explosives.
Meanwhile, the pyrotechnics market is also moving quickly. Current trends in spectacular fireworks for most world-famous spectacles are helping to boost pyrotechnics. The entire display of fireworks for such spectacles requires significant physics and engineering. Extensive math and lab work are required to design fireworks to rise to a certain height before exploding. This is where pyrotechnics enters the picture.
Report Highlights
- Demand for Explosives and Pyrotechnics is anticipated to be suggestively great in numerous militaries uses including melt-cast and pressed explosive ammunition, cast PBX charges for insensitive munitions, and energetic charges for LOVA composite propellants.
- Prime applications of Explosives and Pyrotechnics in the military pyrotechnics’ division comprise of detonators, cutting cords, boosters and cap-relay explosives. Pyrotechnics is one of the crucial application sectors in APAC It occupied about 57% of whole demand in 2022. These are highly effective irritant devices, which eject small loads of irritant sub munitions from a single projective.
- The Explosives and Pyrotechnics market in Asia Pacific is expected to observe firmest growth as China is the principal consumer and employs Explosives and Pyrotechnics for numerous industrial practices.
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