Explosives & Pyrotechnics Market Analysis

Explosives & Pyrotechnics Market Analysis

Explosives & pyrotechnics market size for mining was valued at over USD 6.5 billion in 2018 and is projected to witness gains close to 4% in the forecast timeframe. Increasing ores, minerals and energy demand are the key factor driving industry growth for this segment. Rising consumer demand for opulent minerals such as diamond, will also contribute significantly to the overall market growth by 2025. On the other hand, construction segment was valued close to USD 2 billion in 2018. Explosives are widely applicable in quarrying and civil engineering such as tunnel, dam, road construction, etc. Rising investment by the regional government of emerging economies to boost construction output and thus region’s economy will make positive impact on market share by 2025.

Military is projected to witness gains more than 3.5% CAGR over the forecast timeframe. Majority of law enforcements bodies across the world are showing their interest in increasing investments in the development of their regional military and defense sectors. Another factor driving the market growth the rise in terrorist attacks. With a rise in high proportion of militant organizations performing terror attacks, the defense agencies will improve their efforts to protect civilian areas from attacks and threats. These trends will in turn propel the product demand and thus will result in driving market demand by 2025.

North America explosives & pyrotechnics market size was valued over USD 5 billion in 2018. The regional growth is mainly driven by increasing government spending in arms & ammunitions to strengthen their defense forces. Furthermore, shale gas exploration in the U.S. will boost industry growth for mining applications. Additionally, presence of major companies in the U.S. engaged in pyrotechnics will favor business over the forecast timeframe.
 

Asia Pacific, mainly led by China and India, dominated the global market share in 2018. The presence of major mining industry players in Australia along with presence of gold & coal reserves are the crucial factors likely to drive the overall regional by 2025.