Explosives And Pyrotechnics Global Market Report 2025

The explosives and pyrotechnics market size has grown strongly in recent years. It will grow from $25.22 billion in 2024 to $27.02 billion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increasing military spending, rising mining activities, growing demand in construction projects, expansion of oil and gas exploration, and increasing use in fireworks displays.

The explosives and pyrotechnics market size is expected to see strong growth in the next few years. It will grow to $35.97 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to growing defense modernization programs, increasing demand for eco-friendly explosives, expansion of space and satellite launches, growing popularity of theme park pyrotechnics, and increasing use in seismic exploration. Major trends in the forecast period include technological advancements in explosive materials, innovations in pyrotechnic formulations, investment in research and development, development of smart detonation systems, increasing focus on safety-enhancing technologies.

The forecast of 7.4% growth over the next five years indicates a slight reduction of 0.1% from the previous projection for this market.This marginal decrease is influenced by ongoing tariff-related uncertainties between the U.S. and its trade partners.This is likely to directly affect the US through tariffs on specialty chemicals from China and India, raising costs for military munitions and aerospace ejection systems.The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.

The growth of mining and construction activities is anticipated to boost the explosives and pyrotechnics market. These activities encompass the extraction of minerals and the development of infrastructure such as roads and buildings. The rise in mining and construction is driven by increased demand for raw materials, fueled by rapid urbanization, infrastructure expansion, and the global move toward renewable energy technologies that require critical minerals. Explosives and pyrotechnics play a key role in these sectors by enabling efficient breaking of rock and earth materials, which aids in excavation, tunneling, and site preparation. For example, in February 2023, the U.S. Geological Survey reported that U.S. mines produced about $98.2 billion worth of nonfuel mineral commodities in 2022, marking a $3.6 billion rise compared to the 2021 total of $94.6 billion. Thus, the growth in mining and construction activities supports the expansion of the explosives and pyrotechnics market.

Technological advancements are driving the development of sustainable blasting solutions in the explosives and pyrotechnics industry. Companies are innovating with products like bulk explosives, which are delivered in large volumes directly into drill holes at mining or construction sites using specialized vehicles. These explosives are favored for large-scale blasting due to their cost-effectiveness, ease of handling, and suitability for various ground conditions. In May 2022, Australia-based Orica Limited introduced its Fortis Protect line of bulk explosives. This product is designed to offer improved resistance to dynamic water and reduce nitrate leaching, thanks to advanced surface chemistry and enhanced stability within blast holes. It is specifically made for wet blast hole conditions, providing dependable blasting performance in challenging environments. The Fortis Protect range reflects Orica’s commitment to minimizing the environmental impact of blasting.

In May 2022, Incitec Pivot Limited, an explosives manufacturer based in Australia, acquired Titanobel SAS for $102.91 million (€91 million). This acquisition strengthens Incitec Pivot’s footprint in the EMEA region by combining capabilities and leveraging the reputable Nobel brand. It grants access to new markets and customers, allowing the company to offer advanced explosive technologies in a strategically important and expanding region. Titanobel SAS is a France-based manufacturer specializing in industrial explosives, drilling, blasting, and related technical services.

Explosives and pyrotechnics are chemical substances that rapidly release energy, producing heat, pressure, light, sound, or smoke. They serve destructive purposes like blasting and demolition, as well as controlled applications such as fireworks and flares.

The primary products in the explosives and pyrotechnics category include blasting agents, propellants, pyrotechnics, and other related materials. Blasting agents are low-sensitivity chemical mixtures mainly used for breaking rock and soil in fields like mining and construction. Pyrotechnics are classified into various types depending on their use, including proximate pyrotechnics, consumer pyrotechnics, display pyrotechnics, among others. These products serve a range of end users, such as mining, construction, military, entertainment, consumer markets, and more.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp increase in U.S. tariffs and resulting trade disputes in spring 2025 are significantly affecting the aerospace and defense sector. Prices for key materials such as titanium, carbon fiber composites, and avionics primarily sourced from international suppliers have surged. Defense contractors, constrained by fixed-price government contracts, are forced to absorb these rising costs. Meanwhile, commercial aerospace companies are encountering resistance from airlines over increased aircraft prices. In addition, customs delays are disrupting already tight production timelines for jets and satellites. In response, the industry is stockpiling essential materials, pursuing import waivers for defense-related goods, and working with allied nations to diversify supply chains.

The explosives and pyrotechnics market research report is one of a series of new reports that provides explosives and pyrotechnics market statistics, including the explosives and pyrotechnics industry global market size, regional shares, competitors with the explosives and pyrotechnics market share, detailed explosives and pyrotechnics market segments, market trends, and opportunities, and any further data you may need to thrive in the explosives and pyrotechnics industry. This explosives and pyrotechnics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Major players in the explosives and pyrotechnics market are BAE Systems Munitions Ltd, Thales Group SA, Rheinmetall AG, Hanwha Corporation, Orica Mining Services Pty Ltd., Austin Powder Company Inc., Dyno Nobel Inc., Solar Industries India Ltd, General Dynamics Ordnance and Tactical Systems (GD-OTS) Inc., Chemring Group PLC, EPC Groupe, Société Suisse des Explosifs (SSE) SA, Howard & Sons Pyrotechnics Pty Ltd, Pyro Spectaculars by Souza Inc., Zambelli Fireworks Inc., AEL Mining Services (Pty) Ltd, Vasantha Fireworks, Jorge Fireworks Inc., WECO Feuerwerk GmbH, Pirotecnia Igual S.A.

Asia-Pacific was the largest region in the explosives and pyrotechnics market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in explosives and pyrotechnics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the explosives and pyrotechnics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The explosives and pyrotechnics market consists of sales of high-energy explosives, fireworks, flares, and other reactive chemical compounds. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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