Explosives & Pyrotechnics Market Opportunities, Share Analysis up to 2025
Date: 2020-07-07   Author: Rahul Varpe  Category: #news

Explosives & Pyrotechnics Market Opportunities, Share Analysis up to 2025

Triggered by growing demand of explosives in military operations, explosive market is expected to gain momentum in the projected time period. Explosive weapons are generally used in mounted grenade and under barrel launchers, missile systems, aircraft bombs and in rocket systems. 

In 2018, global defense and aerospace industry has recovered and has experienced, high growth rate supported by rise in military expenditure worldwide. For instance, the U.S. has been strongly investing in defense sector of the nation. Moreover, NATO countries are also focusing on stretching their defense budgets in order to counter threats from the Middle East and Russia. Furthermore, countries such as China, India and Japan have also been witnessing a significant increase in defense expenditure.

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Pyrotechnic articles are not only used for entertainment but are also utilized in technical & military cases for illumination and signaling, as pesticides and for various other purposes. Pyrotechnics are designed to give out specific effects, such as whistling, illumination, smoke formation, detonation, propulsion, shooting and disintegration.

The APA (American Pyrotechnics Association) predicted an exceptional year for fireworks sale in 2019. According to APA, consumer fireworks revenue has increased from $407 million in 2000 to $945 million in 2018. The APA estimates that fireworks revenues could exceed $1 billion during the 2019 fireworks season. On days like New Year’s Eve, almost every nation celebrates with elaborate firework shows. For instance, in 2017, the German Pyrotechnic Industry Association reported €137 million in sales in the final four days of the year. In 2019, New Year’s Eve fireworks sale in Netherlands amounted to €70 million, which is €2 million more than 2018 figures. Such a trend will ultimately prove beneficial for increasing explosives and pyrotechnics market share.

Global explosives and pyrotechnics market has recorded a commendable growth graph due to increasing mining activities, military spending and greater demand for recreational fireworks. Rapid industrialization has created massive demand for mined commodities which has resulted in increased mining activities in countries such as South-Africa, China, Indonesia, the U.S. etc. adding to the demand for explosives used in mining industry.

Mounting government spending on the defense sector in various countries including the U.S., India, China, France, Saudi Arabia, U.K. and Russia will positively impact explosives market size. On the other hand, pyrotechnics (fireworks) market is forecast to gain traction with rising cracker shows on occasions, festivals and sports events.

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Another factor significantly augmenting explosives and pyrotechnics market size is ongoing political unrest between countries, which has resulted in increased military spending. The top five spenders in the world in 2018 included U.S., China, Saudi Arabia, India and France, which accounted for approximately 60% of world military spending. The total world military spending has risen by 2.6% to reach USD 1,822 billion over 2017-2018, according to SIPRI (Stockholm International Peace Research Institute). Military segment accounts for approximately 45% in explosives and pyrotechnics market share. The segment growth is majorly influenced by political clashes in African countries, Middle East and Europe.

With record-breaking growth in backyard fireworks usage and liberalization of consumer fireworks laws, the number of fireworks-related injuries have dramatically declined. Currently, the fireworks-related injury rate is 56% lower than what it was in 2000. There is no such consumer product in the market that has an exceptional consumption growth and declining injury rate – which will encourage more expansive use of fireworks and add indirect impetus to explosives and pyrotechnics industry.

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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for algosonline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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