Explosives and Pyrotechnics Market Dynamics, Application Share, Growth, Vendor Competition, Trends and Forecast 2018-2025

The Global Explosives and Pyrotechnics Market was valued at $ xx billion in 2017. It is expected to grow at a compound annual growth rate of xx% during the forecast period, reaching a market value of $ xx billion by the year 2025. Explosives and pyrotechnics have been used for mining activities for a long time, and the rise in globalization and urbanization of cities across the globe has further increased their use.

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Explosives and pyrotechnics are commercially available as solutions for easy and direct application in mining, military, and construction industry. They are used as blasting agents (high explosives), and in propellants and fireworks (low explosives). The rise in population across the globe has given rise to infrastructure development. Explosives are used to blast huge boulders of rocks to clear away space. There is an increase in mining operations in countries like the USA, Australia, Russia, and South Africa.

The open pit operations and underground mining is carried out using explosives. The demand for ores, minerals, and energy has increased over the years, and mining is carried on an escalating rate to meet the growing demand for minerals. Countries which do not have any alternate sources of energy production use coal to generate energy, which is boosting the expansion of the global explosives and pyrotechnics market size.

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The political conditions in countries like Africa, the Middle East, and Europe are unstable, which has resulted in the growth of the arms and ammunitions industry in the last few years, which is directly dependent on the explosives and pyrotechnics industry. Many government organizations have heavily invested in expanding their military forces. The global military expenditure is estimated to double its market by the year 2025, reaching a value of $x billion. Countries like China, India, USA, and other countries in the European region have largely invested in arms and ammunitions to make their armed forces stronger.

Pyrotechnics is the fastest growing segment of the global explosives and pyrotechnics market. Fire shows are an integral part of any function. There’s a rising consumer demand for outdoor firecracker shows in sports events and personal events such as weddings. [vs1] The opening ceremony of the Olympic Games and the celebration of US Independence Day showcase some of the most expensive fireworks display, amounting up to $20 million. The growth in the tourism sector is also responsible for promoting the growth of the use of pyrotechnics. Many hoteliers organize shows around fireworks, which are expected to drive the explosives and pyrotechnics market towards growth.

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