-- Explosives and Pyrotechnics Market is anticipated to grow at a rapid rate during the forecast period. Military and mining sector attained a major share in the global market with a share of around 48% and 40% respectively. Rising coal mining activities in order to fulfill power generation demand is one of the key drivers of the segment. Also, growing explosives use in oil & gas exploration is likely to drive the market growth. Growing oil demand from transportation sector especially from developing regions is expected to further propel the market growth. On the other hand, countries like the U.S. has been experiencing a rise in oil production from tight oil reserves which marks the need for explosives in the process.
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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.
Asia pacific attained a major chunk of the overall explosives and pyrotechnics market driven by increasing mining activities in Indonesia and Australia. Coal production in Indonesia has been rising for the last 15 years triggered by growth in new coal mine licensing. Also, government initiatives in the sector is highly responsible for sector growth. For instance, in 2015, government of Indonesia has begun a "Clean and Clear" program aimed at screening mining licenses and to check for compliance as per specific conditions to ensure regularization in the industry. North America explosives and pyrotechnics market is expected to witness high growth rate as a result of increasing military expenditure in defense system along with growing oil & gas production in the U.S.
Technological innovation in the mining industry such as digital mining technology is reshaping the mining sector which has been attracting new players in the explosives and pyrotechnics market. Also, in countries like India, there has been a monopoly in mining sector for about a decade and is now inviting commercial mining in the nation to improve growth. These government initiatives coupled with new technological invention can drive the explosives explosives and pyrotechnics market growth in the near future.
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Explosives are majorly used in mining. Growing technological expenditure for enabling effective exploration, sustainable processing of low grade and complex minerals are fueling mining activities. For instance, countries such as Indonesia have stringent government policies to generate up to 50% of power from domestic coal which is resulting in increased mining operations. Such initiatives are expected to positively influence explosives and pyrotechnics market growth over 2019-2025.
Rapidly growing mining sector, increased political tensions leading to greater military spending and trends encouraging fireworks display will together augment revenue share of explosives and pyrotechnics market in the coming years.
Major Point From Table Of Content:
Chapter 4. Explosives Market, By End-user
4.1. Explosives market end-user insights
4.2. Mining
4.2.1. Explosives and pyrotechnics market estimates and forecast, 2014 - 2025
4.2.2. Explosives and pyrotechnics market estimates and forecast by region, 2014 – 2025
4.3. Construction
4.3.1. Market estimates and forecast, 2014 - 2025
4.3.2. Market estimates and forecast by region, 2014 – 2025
4.4. Military
4.4.1. Market estimates and forecast, 2014 - 2025
4.4.2. Market estimates and forecast by region, 2014 – 2025
4.5. Others
4.5.1. Market estimates and forecast, 2014 - 2025
4.5.2. Market estimates and forecast by region, 2014 – 2025
Chapter 5. Pyrotechnics Market, By End-user
5.1. Pyrotechnics market end-user insights
5.2. Entertainment
5.2.1. Market estimates and forecast, 2014 - 2025
5.2.2. Market estimates and forecast by region, 2014 – 2025
5.3. Consumer
5.3.1. Market estimates and forecast, 2014 - 2025
5.3.2. Market estimates and forecast by region, 2014 – 2025
5.4. Others
5.4.1. Market estimates and forecast, 2014 - 2025
5.4.2. Market estimates and forecast by region, 2014 – 2025
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