Smokeless Powder Market Report 2026

The smokeless powder market size has grown steadily in recent years. It will grow from $2.67 billion in 2025 to $2.78 billion in 2026 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to increasing replacement of black powder with smokeless formulations due to higher energy efficiency, development of extruded and flake powders optimizing burn rates for various firearm types, adoption of propellant stabilizers improving storage life and safety, expansion of ammunition manufacturing driving demand for granular propellant variants, rising use of low-flash powders to enhance visibility and performance in military and law enforcement applications.

The smokeless powder market size is expected to see steady growth in the next few years. It will grow to $3.22 billion in 2030 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to growth of civilian shooting sports increasing demand for diverse smokeless powder formulations, advancements in chemical engineering enabling cleaner and more temperature-stable propellants, rising procurement of modern ammunition by defense agencies driving specialized powder needs, innovation in environmentally compliant propellants reducing toxic byproducts, expansion of reloading communities boosting demand for customizable and high-performance powder variants. Major trends in the forecast period include regulatory and export controls, formulation innovation for reduced muzzle flash and signature, localization of production and strategic stockpiling, consolidation and vertical integration among manufacturers, growing civilian reloading and sport shooting demand.

The increasing military expenditure is anticipated to fuel the growth of the smokeless powder market in the coming years. Military spending represents the total funds a nation dedicates to maintaining and advancing its defense capabilities. Growing geopolitical tensions drive countries to boost their military budgets to enhance defense readiness amid regional disputes and global power struggles. This increase in defense funding fuels demand for smokeless powder, essential for manufacturing advanced ammunition that offers better performance and less visibility on the battlefield. For instance, in April 2025, according to the Stockholm International Peace Research Institute, a Sweden-based international institute, global military spending reached 2.71 trillion dollars in 2024, showing a 9.4% increase in real terms compared to the previous year. Therefore, the increasing military expenditure will boost the growth of the smokeless powder market.

Leading companies in the smokeless powder market are concentrating on innovations in smokeless propellants to enhance energy performance. These advanced materials used in firearms generate minimal smoke upon ignition, providing a clear tactical advantage over traditional gunpowder. For example, in January 2023, Hodgdon Powder Company, a U.S.-based propellant manufacturer, introduced Winchester StaBALL HD, a high-performance smokeless propellant. This product maintains its stability in both hot and cold temperatures and includes eco-friendly compounds that reduce copper fouling in barrels. These features allow for longer shooting sessions without cleaning. Being a high-density, double-base powder, it enables velocity increases ranging from 30 to 200 feet per second compared to other powders in the same category. It is specially formulated for use in large-capacity magnum cartridges and targeted at users who reload their ammunition.

In March 2025, Makine ve Kimya Endustrisi (MKE), a defense company headquartered in Turkey, collaborated with ATS Group to establish a gunpowder production facility in North Macedonia. This partnership is set to deepen bilateral defense industry ties and expand regional production capabilities. The agreement also involves knowledge sharing and joint investment initiatives to support the local defense sector. ATS Group is based in France and specializes in manufacturing smokeless powder.

Major companies operating in the smokeless powder market are General Dynamics Corporation, BAE Systems plc, Rheinmetall AG, Poongsan Corporation, MAXAM Corp Holding SL, Norma Precision AB, RUAG Ammotec GmbH, Eurenco S.A.S., Forcit Oy, Goex Powder, The Kinetic Group LLC, Nitrochemie AG, Hodgdon Powder Company Inc., Western Powders Inc., Nobel Sport S.A., Theales Australia Limited, Nammo Vihtavuori Oy, IMR Powder Company, Winchester Smokeless Powders, Lovex Powder.

North America was the largest region in the smokeless powder market in 2025. The regions covered in the smokeless powder market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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.

Tariffs on energetic materials and related chemicals have raised input costs and disrupted cross-border supply chains for the smokeless powder market, especially for manufacturers relying on imported nitrocellulose, stabilizers, and specialized additives. Increased duties and customs delays have most affected extruded and granular powder producers and regions that rely on import-heavy supply chains notably Asia-Pacific and some European importers. To cope, firms are reshoring critical production steps, qualifying alternate suppliers, and increasing inventory buffers, positive outcomes include accelerated localization, greater investment in domestic capacity, and improved supplier diversification that can strengthen long-term supply security.

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

Smokeless powder is a type of propellant utilized in firearms and ammunition, known for producing significantly less smoke than conventional black powder during combustion. Primarily made of nitrocellulose and sometimes combined with nitroglycerin, it is engineered to deliver more efficient burning, greater energy release, and cleaner firearm operation. Due to its enhanced performance and reduced barrel fouling, smokeless powder has largely replaced black powder in both military and civilian uses.

There are three main classifications of smokeless powder: single base, double base, and triple base. Single base smokeless powder consists predominantly of nitrocellulose as the primary energetic component. Its formulation includes nitrocellulose, nitroglycerin, dinitrotoluene, and ethyl centralite. This type is distributed through multiple channels such as online platforms, offline stores, and direct sales. It finds application in military, civilian, law enforcement, sport shooting, and hunting sectors.

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

The smokeless powder market consists of sales of extruded powders, flake powders, propellant stabilizers, granular propellant variants, and low-flash powders. 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 that 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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