Global Explosives Market Trends And Strategies Of Major Players In The Explosives Market 2021-2030
7 Oct, 2021
The explosives market consists of revenues earned by entities (organizations, sole traders, and partnerships) that are engaged in the production and distribution of explosives. Explosives refer to materials, mixtures, and chemical compounds that are capable of exploding. The explosives are majorly divided into two categories i.e., high explosives (used in defense & military applications) and low explosives (used in civilian applications). Trinitrotoluene (TNT), RDX, and acetone peroxide (TATP) are a few of the most powerful explosives the find their applications in military, mining, and industrial applications.
Global Explosives Market Size And Drivers:
The global explosives market is expected grow from $28.94 billion in 2020 to $30.04 billion in 2021 at a compound annual growth rate (CAGR) of 3.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $38.42 billion in 2025 at a CAGR of 6%. The surge in government spending on the defense sector in various countries including the USA, China, India, Russia, UK, and France is projected to be a major driver for the growth of the explosives market during the period.
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Trends In The Global Explosives Market
In February 2020, Orica announced the acquisition of Exsa, industrial explosives manufacturer and distributor based in Peru, South America for $302 million. The acquisition is expected to establish Orica as one of the leading players in South America and to change Orica’s manufacturing footprint, driving competitive advantage, and enhance the company’s position in South America. Exsa is a Peruvian company engaged in providing solutions in rock fragmentation for infrastructure and mining industries.
Global Explosives Market Segments:
The global explosives market is further segmented –
By Type: C4, HMX, PETN, RDX, Dynamite, ANFO, Others
By Application: Military, Mining, Quarrying, Construction, Others
By Pyrotechnics Application: Display, Consumer, Proximate, Others
By Geography: The global explosives market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/explosives-market-global-report-2020-30-covid-19-growth-and-changeExplosives Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides explosives market overviews, analyzes and forecasts market size and growth for the global explosives market, explosives market share, explosives market players, explosives market segments and geographies, explosives market’s leading competitors’ revenues, profiles and market shares. The explosives market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.