revenue growth of the Explosives Pyrotechnics market is being driven by the desire for green pyrotechnics.

The global Explosives Pyrotechnics Market size was USD 4.4 Billion in 2022 and is expected to reach USD 6.26 Billion in 2032, and register a revenue CAGR of 4% during the forecast period.

The greatest end-use market for explosives and pyrotechnics is the mining industry. Increasing necessity for safe and effective mining operations is driving demand for explosives and pyrotechnics in the industry. Explosives and pyrotechnics are employed in mining for various tasks include drilling, demolition, and blasting. The need for explosives and pyrotechnics in the mining industry is expected to rise in the upcoming years due to rising demand for minerals and metals across the globe.

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Major Companies:

• AEI Systems Ltd.
• Orica Limited
• Chemring Group
• Poongsan Corporation
• MaxamCorp Holding S.L.
• Nitro Química
• Enaex S.A.
• Sasol Limited
• Explosive Technologies International (ETI)
• Changsha Zoomlian Pump Co. Ltd.

 Key questions addressed in the report:

• What is the expected market size of the global Explosives Pyrotechnics market during the forecast period?
• What CAGR is the global market expected to register during the forecast period?
• Which key factors are expected to boost global market growth between 2021 and 2028?
• What are the key restraints that are expected to hamper global market growth?
• Which regional market is expected to register robust CAGR during the forecast period?
• Which key players are operating the global Explosives Pyrotechnics market?

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Some Key Highlights from the Report

• In 2022, the industrial explosives segment held a significantly larger share of revenue in the global explosives and pyrotechnics market compared to consumer pyrotechnics. Furthermore, the industrial explosives segment is poised to exhibit a robust revenue Compound Annual Growth Rate (CAGR) throughout the forecast period. This growth can be attributed to the escalating demand for explosives and pyrotechnics in the mining and construction sectors, where they are used for essential tasks such as drilling, blasting, and excavation. The market is benefiting from the increasing global construction industry, particularly in emerging economies. Additionally, the use of explosives and pyrotechnics is on the rise in the oil and gas industry, specifically for Hydraulic Fracturing (fracking) to extract oil and gas from shale rock formations. Furthermore, the demand for industrial explosives remains strong in the defense and military sectors, where they are utilized for purposes like demolitions and ammunition, further propelling market expansion.
• In 2022, the construction segment claimed the largest share of revenue in the market. The construction sector stands as one of the most significant end-users of explosives and pyrotechnics, and this trend is expected to persist throughout the forecast period. The growth of the construction sector is primarily fueled by the increasing demand for infrastructure development, including the construction of new roads, bridges, and buildings. Additionally, the expansion of this market is further facilitated by the growing utilization of explosives and pyrotechnics within the construction sector for various tasks such as lifting, demolition, and material handling.

Explosives Pyrotechnics Market Segmentation:

By Product Type Outlook: 

• Industrial Explosives
• Consumer Pyrotechnics

By End-Use Outlook: 

• Mining
• Construction
• Entertainment
• Military & Defense
• Others

 Key Regional Markets Covered in the Report:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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