NEW YORK, July 17, 2023 /PRNewswire/ -- According to Zion Market Research, the global research department explosive (RDX) market size was valued at USD 10.5 billion in 2022 and is predicted to reach a value of USD 14.5 billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.2% during the forecast period (2023- 2030).
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Research Department Explosive (RDX) Market: Overview
Research Department Explosive (RDX) is a powerful explosive compound that has been extensively used in military and industrial applications. It is a white crystalline solid with the chemical formula C3H6N6O6 and the full name cyclotrimethylenetrinitramine. RDX is classified as a high explosive due to its ability to release large amounts of energy rapidly. In military applications, RDX is commonly used as a key ingredient in the formulation of explosive compounds, such as plastic-bonded explosives (PBX) and composition C-4. It provides the necessary energy and stability required for reliable detonation, making it a vital component in various munitions, including artillery shells, mortar rounds, grenades, and landmines.
RDX-based propellants are also used in firearms, artillery, and rocket systems to generate the force necessary for projectile propulsion. Apart from military applications, RDX finds use in industrial sectors such as mining, quarrying, and construction. Its high energy output and stability make it suitable for blasting operations, controlled demolitions, and other applications that require the controlled release of explosive energy.
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- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
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Key Industry Insights & Findings of the Research Department Explosive (RDX) Market Reports:
- As per the analysis, the Research Department Explosive (RDX) market share is likely to grow above a CAGR of around 4.2% between 2023 and 2030.
- The Research Department Explosive (RDX) market size was worth around USD 10.5 billion in 2022 and is estimated to hit approximately USD 14.5 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The expansion of the mining industry's demand is a key element anticipated to propel the growth of the research department explosive market during the projected period.
- Based on the type, the pyrotechnics segment is expected to capture a substantial market share during the forecast period.
- Based on the application, the military segment is expected to dominate the market during the forecast period.
- Based on region, North America is expected to dominate the market over the forecast period.
Zion Market Research published the latest report titled "Research Department Explosive (RDX) Market By Type (Explosives, Pyrotechnics, And Others), By Application (Military And Civilian), By Sales Channel (Domestics And International) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" into their research database.
Market Dynamics:
The increase in demand for mining tools is one of the key factors anticipated to propel the growth of the research department explosive (RDX) market during the projected period. Furthermore, it is projected that the market for research department explosive (RDX) would rise as a result of the expanding construction and infrastructure development activities. Additionally, it is predicted that an increase in military spending and activity will drive market growth for research department explosives (RDX). On the other hand, the market expansion for the research department explosive (RDX) is anticipated to be hindered throughout the timeframe due to the rising cost of RDX.
However, the rise in the frequency of mining operations in industrialized nations will also likely present prospects for the market for research department explosives to expand in the years to come. However, in the near future, the development of the research department explosive (RDX) industry may be further hampered by strict governmental rules.
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Global Research Department Explosive (RDX) Market: Segmentation
The global research department explosive (RDX) industry is segmented based on type, application, sales channel, and region.
Based on the type, the global market is bifurcated into explosives, pyrotechnics, and others. The explosives segment is expected to hold a significant market share over the forecast period. RDX explosives find applications in the industrial sector, particularly in mining, quarrying, and construction. It is used in blasting operations for excavation, rock fragmentation, and controlled demolitions. The high energy output and stability of RDX make it suitable for these applications, enabling efficient and safe operations in various industries. Thereby, driving segment growth.
Based on the application, the global research department explosive industry is divided into military and civilian. Based on the sales channel, the global market is bifurcated into domestic and international.
Recent Developments:
- In February 2020, Exsa Ltd. was purchased by Orica Limited for $302 million, an industry leader in Australia that develops commercial explosives and blasting systems. With this purchase, Orica will gain market share in Latin America and become the dominant force in the industry with the highest rate of expansion. Additionally, it will provide Orica with a competitive advantage by substantially expanding its production presence. With this acquisition, Exsa's brand-new, state-of-the-art Initiating Systems (IS) production facility will be a part of Orica's worldwide manufacturing footprint. Explosives are produced and distributed by Exsa Ltd., a business established in Peru.
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Competitive Players
The report contains qualitative and quantitative research on the global Research Department Explosive (RDX) Market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global Research Department Explosive (RDX) market include;
- Chemring Group
- Dahana.id
- Eurenco
- PRVA ISKRA - NAMENSKA A.D.
- BAE Systems.
- Chemical Plant NITRO-CHEM SA
- Hodgdon Powder Co. Inc.
- Nuberg Engineering Limited
- The Ensign-Bickford Aerospace & Defense Company
- ReGenesis
- Dyno Nobel
- EPC Groupe
- Mil-Spec Industries Corporation
- Orica Limited.
- PRVA ISKRA – NAMENSKA A.D.
- Taavura Holdings Ltd.
- bme
- Solar Industries India
- Jet Research Center
Key questions answered in this report:
- What is the growth rate forecast and market size for Research Department Explosive (RDX) Market?
- What are the key driving factors propelling the Research Department Explosive (RDX) Market forward?
- What are the most important companies in the Research Department Explosive (RDX) Market Industry?
- What segments does the Research Department Explosive (RDX) Market cover?
- How can I receive a free copy of the Research Department Explosive (RDX) Market sample report and company profiles?
Report Scope:
Report Attribute | Report Details |
Market Size in 2022 | USD 10.5 Billion |
Market Forecast in 2030 | USD 14.5 Billion |
Growth Rate | CAGR of 4.2% |
Base Year | 2022 |
Forecast Years | 2023- 2030 |
Key Companies Covered | Chemring Group, Dahana.id, Eurenco, PRVA ISKRA - NAMENSKA A.D., BAE Systems., Chemical Plant NITRO-CHEM SA, Hodgdon Powder Co. Inc., Nuberg Engineering Limited, The Ensign-Bickford Aerospace & Defense Company, ReGenesis, Dyno Nobel, EPC Groupe, Mil-Spec Industries Corporation, Orica Limited., PRVA ISKRA – NAMENSKA A.D., Taavura Holdings Ltd., bme, Solar Industries India and Jet Research Center among others. |
Segments Covered | By Type, By Application, By Sales Channel, and By Region |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
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Regional Analysis:
North America is expected to dominate the global research department explosive market during the forecast period. Due to the large demand in the mining, construction, and military sectors, the North American region is a key user of RDX and other explosives. The recent rebound of the region's construction sector is one of the key components influencing the explosives market. Because of increased investment in constructing retail establishments and logistical infrastructure, non-residential construction activity is anticipated to rise over the next years.
The nation's employment of a private investment technique for building roads is also predicted to increase the need for explosives. According to the Michigan Department of Transportation (MDOT), the 18-mile route that connects Hazel Park and Pontiac will be paid for privately rather than using public funds.
Global Research Department Explosive (RDX) Market is segmented as follows:
By Type
- Explosives
- Pyrotechnics
- Others
By Application
- Military
- Civilian
By Sales Channel
- Domestics
- International
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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