Increasing demand for explosives and pyrotechnics in defense and military applications due to rising security concerns and geopolitical tensions is driving the market growth. Additionally, growth in the construction industry, particularly in developing regions, is fueling the demand for explosives for mining and blasting activities. Moreover, advancements in pyrotechnic technology and increasing investments in research and development are creating new growth opportunities for market players.
Industry
Report Coverage | Details |
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Segments Covered | Product, Application |
Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
Company Profiled | Orica Mining Services, Sasol Limited, Austin Powder Company, Chemring Group, ENAEX, Maxam Corp., Incitec Pivot, AECI Group, Pyro Company Fireworks, EPC Group, Alliant Techsystems, AEL Mining Services, Titanobel SAS, Hanwha Corp., Solar Industries India, LSB Industries, Zambelli Fireworks, Melrose Pyrotechnics, Angelfire Pyrotechnics, Skyburst, Howard & Sons, Entertainment Fire-works, Supreme Fireworks UK, Celebration Fireworks, Impact Pyro, Societe Nationale Des Poudres Et Explosifs |
Stringent regulations and environmental concerns regarding the use and disposal of explosives and pyrotechnics are major restraints for the market. These regulations not only impact the production and distribution of explosives but also increase the overall costs for manufacturers. Furthermore, the volatility in raw material prices and supply chain disruptions pose challenges for market players, hindering the growth of the explosives and pyrotechnics market.