Press release
Global RDX TNT HMX explosives market size forecast 2020-2031 in USD million
bal RDX, TNT & HMX explosives market forecast 2020-2031 in USD million with CAGR
The Global RDX, TNT & HMX market was valued at USD 1,579.5 million in 2020 and is projected to reach USD 3,051.4 million by 2031, growing at a 2025-31 CAGR of 5.16%. In 2024 the market stood at USD 1,934.8 million and is forecast to rise to USD 2,040.7 million in 2025.
By region, Asia Pacific leads with USD 786.2 million in 2024 (CAGR 6.0%), followed by North America at USD 519.5 million (5.05%), Europe at USD 411.9 million (3.94%), Latin America at USD 137.5 million (4.33%) and MEA at USD 79.8 million (4.56%).
Application segmentation shows Defense & Military dominating with USD 1,131.4 million in 2024 and a 5.49% CAGR to 2031. Mining & Quarrying follows (USD 390.9 million; 4.78%), then Construction (USD 165.0 million; 4.23%), Oil & Gas (USD 113.9 million; 4.07%) and Others (USD 76.0 million; 6.35%).
Form-wise, Granular explosives held USD 743.4 million in 2024 and will expand at 5.59% CAGR to USD 1,218.9 million by 2031. Powder form rises from USD 649.4 million (2024) at 4.87%, Liquid from USD 234.3 million at 4.32%, Slurry from USD 154.9 million at 5.46% and Others from USD 95.3 million at 5.75%.
Key players profiled include Chemring Energetics, Rheinmetall AG, Solar Industries India, BAE Systems, Orica, Dyno Nobel and Ensign-Bickford. These firms lead in R&D, capacity expansions and strategic partnerships to meet evolving market demand.
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