The global research department explosive (RDX) market value was US$ 9.81 billion in 2020 and anticipates reaching US$13.90 billion by 2030. The global research department explosive (RDX) market is forecast to grow at a compound annual growth rate (CAGR) of 3.2% during the forecast period from 2021 to 2030.
Research department explosives (RDX) are chemical compounds formerly known as royal demolition explosives, cyclonite, or hexogen. A white powder or crystal known as RDX is highly explosive and exhibits the ability to explode upon contact with fire. It is also tasteless and has no odor, making it difficult to spot in sensitive environments such as open fields, mines, etc.
Factors Influencing the Market Growth
- Mining activity directly impacts demand for RDX. RDX is part of the high explosive category, and as such, it is used in mining operations to excavate and explore the rock. Increasing mining activities contribute to the growth of the market.
- An increase in budget allocations has attracted leading players and encouraged them to develop & introduce their effective explosive products. As a result of increased product development and budget allocation, there is an increased demand for RDX in military operations, which anticipates boosting the market globally.
- Due to the growing demand for RDX in numerous applications such as pyrotechnics and cast plastic bonded explosives (PBX) charges, manufacturers are developing and introducing more effective explosive products with a wide range of uses. The trend towards mineral extraction in developed regions is also likely to create ample opportunities for market growth during the forecast period.
- The lack of alternative methods for mining and blasting and the stringent regulatory frameworks toward the use of RDX are primary barriers to the market's growth.
Impact Analysis of COVID-19
- An outbreak of COVID-19 led to a decline in the RDX market in 2020.
- Several governments have enacted lockdowns and temporary shutdowns that have adversely affected production and sales.
- COVID-19 crisis is causing uncertainty in the market, massive slowing of the supply chain, and a fall in business confidence, along with increasing panic among customers.
- The chemical industry experienced supply chain disruption. Different plants and factories have been locked down in China, which has limited manufacturing activities, postponed delivery schedules, and decreased sales of various chemicals and materials.
Regional Analysis
In terms of volume, North America is forecast to grow at a significant share during the forecast period. As a result of the growing military, construction, and mining sectors in the region. Technology developments in the defense and military sectors in North America are likely to drive the market for RDX.
Leading Competitors
The leading prominent competitors profiled in the global research department explosive (RDX) market are:
- Austin Powder Company
- BAE Systems
- Chemring Group PLC.
- Dyno Nobel
- EPC Groupe
- Eurenco
- Mil-Spec Industries Corporation
- Nitro-Chem SA.
- Orica Limited
- Prva Iskra Namenska a.d.
- Other Prominent Players
Scope of the Report
The global research department explosive (RDX) market segmentation focuses on Type, Application, Sales Channel, and Region.
Segmentation based on Type
- Explosives
- Pyrotechnics
- Others
Segmentation based on Application
- Military
- Melt cast & pressed explosives
- Cast PBX
- Pyrotechnics
- Others
- Civilian
- Fireworks
- Demolition blocks
- Others
Segmentation based on Sales Channel
Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
