Explosives & Pyrotechnics Market 2020-2025|Orica Mining Services, Incitec Pivot limited, Sasol Limited, Austin Powder Company, ENAEX, MAXAM Corp, AECI Group, EPC Group, Chemring Group, Titanobel SAS, Hanwha Corporation, LSB Industries

The global explosives and pyrotechnics market share has witnessed a commendable growth rate in the last few years due to the increasing mining activities, military spending, and the rising use of fireworks during festivals and events across various nations. Pyrotechnics are designed to give special effects like illumination, smoke formation, propulsion, shooting, disintegration, and sound. The pyrotechnic items are not only used for entertainment but also used in military and industrial sectors such as for signaling and illuminating purposes.

Rising industrialization has created massive demand for mined commodities which has resulted in increased mining activities in countries like China, Indonesia, South Africa, and USA. Additionally, pyrotechnics market is likely to surge with the rising usage of the product during festivals, events and other occasions.

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The major manufacturers covered in this report: -
1. Orica Mining Services
2. Incitec Pivot limited
3. Sasol Limited
4. Austin Powder Company
5. ENAEX
6. MAXAM Corp
7. AECI Group
8. EPC Group
9. Chemring Group
10. Titanobel SAS
11. Hanwha Corporation
12. LSB Industries Inc

Growth drivers

1. Increasing mining operations in developing nations
2. Growing military spending for arms & ammunition
3. Growing oil & gas sector in the U.S.

Explosives are majorly used by companies operating in the mining industry. Rising technological expenditure to enable effective exploration and sustainable processing of complex minerals is fueling the demand for mined commodities. For instance, the Indonesian government's policy requires the country to generate nearly 50% of power from domestic coal, thereby increasing mining operations.

Speaking along similar lines, numerous developing nations like Indonesia rely excessively on coal for power generation which results in large-scale mining, thereby amplifying explosives and pyrotechnic market. In this context, it is quite imperative to mention that the major mining explosives manufacturers across the globe include Orica Mining, Kompass, Incitec Pivot Limited, and Enaex among several others.

Another vital factor augmenting explosives and pyrotechnics market outlook is the rising political unrest between countries, which has resulted in an increased military spending. The military segment of the market is majorly influenced by political clashes in Middle East, Africa, and Europe. Different pyrotechnic products and explosives used in the military are signal cartridges, mini-flares, colored smoke grenades, hand-fired rockets, and practice bomb marker.

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According to reliable estimates, in the year 2018, the world military spending witnessed a rise of about 2.6% to reach USD 1822 billion. The U.S. recorded the highest defense spending estimated at USD 785 billion. Thus, the rise in demand for explosives in critical sectors like defense is benefiting the global explosives and pyrotechnics market trends. In fact, the military segment accounts approximately 45% of total share of explosives and pyrotechnics market size.

The growth trends recorded by mining sector in the APAC region has added impetus to the region's explosives and pyrotechnics industry outlook. According to reliable sources, India is projected to become the second largest steel consumer by the end of 2019. Additionally, the per capita steel consumption is estimated to rise from 69 kg to 160 kg by 2030. Moreover, the nation is home to over 1531 operating mines producing 95 essential minerals like Bauxite, Chromium, Baryte, Manganese Ore, etc. The rise in industrial and infrastructural development in the country is magnifying the use of explosives in mining or construction, thereby propelling the revenue scale of explosives and pyrotechnics industry.

Although the growth prospects of explosives and pyrotechnics market appear highly promising, a few factors may hinder the overall product penetration across geographies in the years to come. Stringent regulatory guidelines may negatively impact the industry outlook. For instance, the Paris Agreement - signed during the conference held by United Nations Framework Convention on Climate Change - mandates that efforts need to be taken by the nations to combat climate change by maintaining a global temperature rise below 2 degree Celsius by reducing the carbon footprint and controlling pollution levels.

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The rapidly growing mining sector due to the development of industrial and commercial infrastructure along with the demand to extract rare minerals would entail a positive impact on the global explosives and pyrotechnics market outlook. Additionally, the rise in usage of pyrotechnics in the military due to the rising political tensions between nations makes it a vital product. Hence, the use of fireworks in the military segment and during festivals and other occasions will augment the revenue share of explosives and pyrotechnics industry in the coming years.

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