Explosives And Pyrotechnics Market Top Key Participant ENAEX, Melrose Pyrotechnics, Titanobel SAS, Orica Mining Services, Chemring Group, includes AECI Group, Howard & Sons, Austin Powder Company, Skyburst
Speaking along similar lines, explosives and pyrotechnics industry is slated to garner significant returns from the mining sector. This segment dominated the end-use landscape in 2015 with a valuation of more than USD 6 billion, and is forecast to grow significantly over the coming eight years. This growth can be principally attributed to the rising demand from the jewelry sector. Huge consumer demand for gold and diamonds and their increasing disposable incomes will augment the requirement for precious minerals, thereby impelling explosives and pyrotechnics market from the mining sector.
The massive growth of the arms & ammunitions sector indicates a positive outcome for global Explosives and Pyrotechnics Market. With the substantial rise in the number of mining operations in Australia, South Africa, the U.S., and Russia, the demand for explosives will increase consequently. As per estimates, global mining sector was valued at around USD 400 billion in 2010 and is estimated to cross USD 700 billion by 2025. Explosives and blasting technologies find applications in underground mining, which will eventually lead to the development of explosives and pyrotechnics industry.
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In addition, an exponential rise has been observed in consumer demand for cracker demonstrations in outdoor events, including sports, weddings, parties, etc. On these grounds, explosives and pyrotechnics market size will surpass USD 23.2 billion by 2025, with a CAGR projection of 4% over 2016-2025.
Asia Pacific held more than 35% of global explosives and pyrotechnics industry in 2015, thereby holding the dominant position. Subject to the presence of a substantial number of coal and gold reserves in China and key mining industry players in Australia, APAC explosives and pyrotechnics market is slated to carve out a positive growth path for itself over 2016-2025. As per research reports, India and China are expected to be the major revenue drivers.
Top ket players:
Global explosives and pyrotechnics industry is pretty much competitive and encompasses manufacturers such as Sasol Limited, Supreme Fireworks, LSB Industries, Pyro Company Fireworks, Incitec Pivot, ENAEX, Melrose Pyrotechnics, Titanobel SAS, Orica Mining Services, Chemring Group, includes AECI Group, Howard & Sons, Austin Powder Company, Skyburst, Solar Industries India, Entertainment Fire-works, and Zambelli Fireworks.
North America is also one of leading regions of explosives and pyrotechnics industry. Essentially led by the United states, this regional market was worth more than USD 4.5 billion in 2015. The continent is renowned for the excessive expenditure of its governments on arms & ammunitions in order to strengthen the military base. Additionally, the number of shale gas explorations in the U.S. have considerably increased, leading to a rise in the number of mining applications, thereby driving the regional explosives and pyrotechnics industry.
Military applications are projected to be one of most lucrative end-use segments of explosives and pyrotechnics market. As per estimates, global military expenditure was around USD 1.5 trillion in 2010 and is predicted to cross USD 3 trillion by 2025. With the passage of time, explosives used in military operations have undergone a massive change, and have played a key role in the growth of the military sector.
The governments of various countries have been increasingly spending on explosives to strengthen their defense forces, which will ultimately stimulate explosives and pyrotechnics industry from military applications, forecast to observe a gain of more than 3.5% over 2016-2025. Countries such as the U.S., China, Russia, France, and UK have also been striving to strengthen their military forces, which will provide a major impetus to the market growth over the forecast timeframe.
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On these grounds, strict legislations have been enforced on the usage of these explosives, which may hinder explosives and pyrotechnics market in the future. Nonetheless, companies have been striving to manufacture enhanced, lesser harm-causing products to meet the rising global demand. Firms are also expanding their geographical presence and increasing their production capacities in order to sustain their position in global explosives and pyrotechnics industry. It has come to the notice of many regional governments and regulatory bodies that the excessive usage of RDX and HMX explosives in construction, military, mining operations may lead to fatal accidents and health hazards, owing to the toxic nature of these products. In addition, noise pollution, dust, chemical release into the environment, etc., are deemed to pose a hazardous work environment.
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