San Francisco, 18 December 2018: The Report Explosives Market Analysis By Product
(Blasting Agents, Propellants, Pyrotechnics), By Application and Pyrotechnics
Market Analysis By Application (Proximate Pyrotechnics, Consumer Pyrotechnics,
Display Pyrotechnics) And Segment Forecasts, 2018 - 2024
The global explosives market is expected to reach USD 31.95 billion by 2024, according
to a new report by Grand View Research, Inc. The global explosives and
pyrotechnics market is expected to grow significantly over the forecast period
on account of increasing use of the product in construction and mining
activities.
Rising number of projects for
infrastructure development in Asia Pacific is expected to drive the demand for
explosives as a blasting agent. Increasing government spending for
infrastructure development in Asia Pacific and the Middle East on account of
increasing domestic output is expected to play a significant role in amplifying
construction activities in these regions.
In 2013, Asia Pacific contributed to
approximately 44% of the total global construction spending, an increase of 4%
from the previous year. Also, the development of new construction and building
projects in Asia is likely to boost market growth. The demand for explosives in
the region is expected to be 14.93 million tons by 2024.
Access Research Report of Explosives And Pyrotechnics Market@ www.grandviewresearch.com/industry-analysis/explosives-pyrotechnics-market
Further key findings from the report suggest:
· Positive outlook towards the mining sector
in Chile, and Peru, and owing to government policies to open opportunities for
investments by foreign players, to improve the economic conditions, is expected
to drive the demand for explosives subsequently. The segment is projected to
witness volume growth at a CAGR of 4.9% over the forecast period.
· Coal mining was the largest application
within the mining sector accounting for 49.8% of the volume in 2015. However,
the outlook towards coal is likely to be bleak over the forecast period on
account of increasing shifting trends of consumers towards alternative sources
of energy including natural gas and renewable energy. However, metal mining is
expected to witness tremendous growth on account of rising demand for metals
including rare earth elements.
· Consumer pyrotechnics accounted for 36.2%
of the global volume in 2015 and is expected to grow on account of increasing demand
for recreational fireworks, model rocket motors, and powder-actuated nail guns.
· Key market players include Orica Mining
Services, ENAEX, Maxam Corp., Sasol Limited, Austin Powder Company, AEL Mining
Services, Chemring Group, Incitec Pivot, AECI Group, Pyro Company Fireworks,
ePC Group, Alliant Techsystems, Titanobel SAS, Hanwha Corp., Solar Industries
India, and LSB Industries.
· Companies are focusing on product
innovation to cater to the growing demand for safe & effective explosives.
For instance, in September 2016, Orica launched a new product, Vistis Bulk
System, catering to the growing consumer demand in Australia.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
Grand View Research has segmented the
global explosives & pyrotechnics market on the basis of product,
application and region:
Global Explosives Product Outlook (Volume,
Kilo Tons; Revenue, USD Million; 2013 - 2024)
·
Blasting agents
·
Propellants
·
Pyrotechnics
·
Others
Global Explosives Application Outlook
(Volume, Kilo Tons; Revenue, USD Million; 2013 - 2024)
·
Mining
·
Construction
·
Military
·
Others
Global Pyrotechnics Application Outlook
(Volume, Kilo Tons; Revenue, USD Million; 2013 - 2024)
·
Proximate pyrotechnics
·
Consumer pyrotechnics
·
Display pyrotechnics
·
Others
Global Explosives Regional Outlook (Volume,
Kilo Tons; Revenue, USD Million; 2013 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa (MEA)
Access Press Release of
Explosives And Pyrotechnics Market@ www.grandviewresearch.com/press-release/global-explosives-pyrotechnics-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range of
industries, from technology to chemicals, materials and healthcare.
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