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Research Department Explosive Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type and Application

Research Department Explosive Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type and Application

  • February 2021
  • 152 pages
  • ID: 6038352
  • Format: PDF
  • The Insight Partners
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The global research department explosive (RDX) market was valued at US$ 8,061.38 million in 2019 and is projected to reach US$ 10,363.27 million by 2027; it is expected to grow at a CAGR of 3.3% from 2020 to 2027.

Research department explosive (RDX) is hard, dissolvable in different solvents such as ethanol and ether, and insoluble in water.The manufacturing process of RDX comprises multiple stages, such as nitration, raw materials storing and feeding, filtration, disintegration, and transport.

Various manufacturers are investing comprehensively in research & development activities to build up pioneering products to support the defense forces and fulfill ever-escalating product demand. RDX is used in various military and typical applications such as fireworks and cast PBX charges.

Based on type, the research department explosive market is segmented into explosives, pyrotechnics, and others.In 2019, the explosives segment led the market.

Explosives are categorized as primary and secondary based on their vulnerability to initiation.Primary explosives are referred to as initiating explosives as they can be utilized to ignite the secondary explosives.

Secondary explosives which include cyclo-1,3,5-trimethylene-2,4,6-trinitramine (RDX), TNT, and others are more predominant at military sites than primary explosives.Because secondary explosives are formulated to explode only under specific circumstances, they often are utilized as bolstering or main charge explosives.

Due to the benefits and characteristics mentioned above, the market growth for the explosives segment is also expected to register substantial growth during the forecast period. Furthermore, the development of new preparation styles for RDX has aided the growth of the global research department explosive market.

Geographically, the global research department explosive market is segmented into North America, Europe, Asia Pacific, South America, and Middle East and Africa.In 2019, Asia Pacific held the largest share of the market.

The rise in demand for RDX in military and civilian applications drives the market growth in Asia Pacific.In addition, RDX is increasingly used in the construction and mining industries.

The mining industry requires such high-performance explosives for rock excavation and exploration activities.The market in Europe and North America is driven by increasing defense expenditure and rising mining activities across these regions.

Asia Pacific is also estimated to register the fastest CAGR in the market over the forecast period.

The COVID-19 outbreak was first reported in Wuhan (China) in December 2019.As of January 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among of the worst affected countries in terms of confirmed cases and reported deaths.

According to the latest WHO figures updated on January 2021, there are ~83,322,449 confirmed cases and 1,831,412 total deaths globally.The outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.

The chemicals & materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns.For instance, China is the global manufacturing hub and the largest raw material supplier for various industries, and it is also one of the worst-affected countries.

The lockdown of different plants and factories in China is restricting the global supply chains and disrupting the manufacturing activities, delivery schedules, and various chemicals & materials sales. Multiple companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering business collaborations and partnership opportunities. All these factors are impacting the chemicals & materials industry negatively and thus acting as a restraining factors for the growth of various markets related to this industry.

BAE Systems; Chemring Group PLC; Mil-Spec Industries Corporation; Nitro-Chem SA; Eurenco; PRVA ISKRA – NAMENSKA A.D.; Austin Powder; Dyno Nobel; Ensign-Bickford Industries, Inc.; and Orica Limited are among the players operating in the global research department explosive market.

Overall size of the global research department explosive market has been derived using primary and secondary sources.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market.

Also, multiple primary interviews were conducted with industry participants and commentators in order to validate and analyze the data. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global research department explosive market.

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