Global Explosives and Pyrotechnics Market: Overview
The term pyrotechnics refers to substances or products that are explosive or combustible. Pyrotechnics is an umbrella term describing fireworks displays, realistic-appearing explosions in films, and other effects related to fireworks. These products play a pivotal role in the entertainment industry for creating a number of dramatic effects such as fire accidents and blasts. There are several types of pyrotechnic devices such as mine, gerb, flash, concussion, waterfall, flame projector, maroon, ice fountain, comet, mortar hit, crossette, line rocket, smoke, airburst, and fireball. Whereas, the types of explosives include TNT, dynamite, gun powder, ANFO, and nitroglycerin. High explosives and low explosives are the two broad categories of explosives.
Global Explosives and Pyrotechnics Market: Key Trends
The rising mining activities across several regions in the world, coupled with the popularity of firework shows at various social events, are some of the most prominent growth drivers of the market. The rising demand for gold and diamond jewelry is likely to aid the expansion of the market, as these substances require mining explosives. The military explosives segment has been adopting smart explosives, boosting market growth. Moreover, an increase in the defense expenditure worldwide is likely to result in a greater demand for technologically smart weapons. Mining of coal is expected to present substantial opportunities because the ever-increasing population worldwide has been necessitating energy generation.
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However, the market might face restriction due to the harm caused to the environment, animals, and humans from emissions and noise by explosives and pyrotechnics.
Global Explosives and Pyrotechnics Market: Market Potential
In August 2016, Hanwha Corp. entered an agreement with an Indonesian government chemical company, Dahana, whereby Hanwha will supply ‘non-electric detonators’ that are half made. Danaher will further develop the detonators and sell them in Indonesia. Hanwha is looking forward to expand its penetration in the mining sector. This company has been supplying high-quality explosives and pyrotechnics to the Indonesian market since 2012.
Hanwha Corp. also signed a memorandum of understanding (MOU) with Ethiopian Construction Works Corp. in early June, 2016. The company is to provide heavy duty equipment for Ethiopia’s infrastructural development.
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Global Explosives and Pyrotechnics Market: Regional Outlook
Based on geography, the global market for explosives and pyrotechnics can be segmented into Asia Pacific, North America, Europe, the Middle East and Africa, and the Rest of the World (RoW). The countries of Africa are expected to exhibit phenomenal growth potential due to the vast amount of minerals and natural ores that await mining. The Middle East will represent a large portion of the market revenue owing to its flourishing oil and gas industry. Presently, the global market for explosives and pyrotechnics appears to be dominated by Asia Pacific, with China and India at the fore. Europe has been spending more on arms and ammunition, thereby contributing towards market growth. While in North America, the presence of key market players in the U.S. is likely to boost the expansion of the market.
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Global Explosives and Pyrotechnics Market: Competitive Analysis
Some of the major companies operating in the global market for explosives and pyrotechnics are Austin Powder Company, ENAEX, Titanobel SAS, AECI Group, Solar Industries India, Chemring Group, Sasol Limited, Orica Mining Services, Pyro Company Fireworks, Skyburst, Supreme Fireworks, Hanwha Corp., Incitec Pivot, Zambelli Fireworks, Entertainment Fire-works, LSB Industries, Melrose Pyrotechnics, and Angelfire Pyrotechnics. Several leading market players are aiming at expanding their presence in the global market. For example, Orica Mining Services has extended its presence in nearly 100 countries. Similarly, Austin Detonator s.r.o. distributes around 90% of its ouput to the U.S., European Union, and Iceland. It has also started catering to the requirements of the countries in Asia pacific and the Middle East.