Explosives and Pyrotechnics Market size was valued at US$ 19.84 Bn in 2022 and the total revenue is expected to grow at 5% through 2023 to 2029, reaching nearly US$ 27.92 Bn.
Explosives and Pyrotechnics Market Overview:
The purpose of this study is to provide a thorough examination of the Explosives and Pyrotechnics market by component, application, industry, and geography. The study goes into great detail on the primary factors influencing the Explosives and Pyrotechnics market's growth. The study also offers a comprehensive analysis of the market's value chain.
Market Scope:
The research method used to assess and anticipate the Explosives and Pyrotechnics market begins with secondary research using sources that collect revenue data from key suppliers. When calculating market segmentation, the vendor offerings are also considered. Using the bottom-up method, the whole size of the Explosives and Pyrotechnics market was calculated using the revenue of significant enterprises.
Segmentation:
By Product
Explosives, pyrotechnics, and others make up the market segments for explosives and pyrotechnics. Due to the increasing demand for fireworks at various events, such as weddings and Christmas, fireworks are anticipated to increase at the quickest rate in the pyrotechnics market. During the projection period of 2023 to 2029, the market is expected to have strong growth due to the expanding tourist sector, where hoteliers are staging fireworks displays.
By End User
Mining, building, the military, entertainment, consumers, and other industries are divided into market segments. The mining end-user segment had a 2021 market value of USD 7.5 billion and is anticipated to expand significantly over the next five years. The explosives and pyrotechnics sector is growing primarily due to increased demand for ores, minerals, and energy. During the forecast period, rising consumer demand for valuable minerals like diamonds will further support the expansion of the global market. Australia, China, and India have all evolved unique methods for extracting minerals. Recent plans to increase iron ore production in Brazil, Africa, and Russia are also expected to have a favourable effect on segment demand.
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Key Players:
The major players covered in the Explosives and Pyrotechnics market report are
1. Orica Mining Services
2. Sasol Limited
3. Austin Powder Company
4. Chemring Group
5. ENAEX
6. Maxam Corp.
7. Incitec Pivot
8. AECI Group
9. Pyro Company Fireworks
10. ePC Group
11. Alliant Techsystems
12. Hanwha Corp.
13. Solar Industries India
14. LSB Industries
15. AEL Mining Services
16. Titanobel SAS
17. Others
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Regional Analysis:
Global, North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.
COVID-19 Impact Analysis on Explosives and Pyrotechnics Market:
Aerospace and defence, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among other industries, have all been affected by the COVID-19 epidemic. COVID-19 has had an impact on the Explosives and Pyrotechnics market in general, as well as the growth rate in 2019-2020, as the impact of COVID-19 spreads. Our most recent inquiry, opinions, and bits of knowledge on administration are critical to the businesses and associations in the Explosives and Pyrotechnics industry, which is driving through the COVID-19 emergency to handle risk digitising jobs in order to convey trusted data and experiences to the CEOs.
Key Questions Answered in the Explosives and Pyrotechnics Market Report are:
- Which segment grabbed the largest share in the Explosives and Pyrotechnics market?
- How was the competitive scenario of the Explosives and Pyrotechnics market in 2020?
- Which are the key factors responsible for the Explosives and Pyrotechnics market growth?
- Which region held the maximum share in the Explosives and Pyrotechnics market in 2020?
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