Global Research Department Explosive (RDX) Market - 2022-2029
The global research department explosive (RDX) market reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2022-2029.
Research department explosive (RDX) is a high explosive utilized as a raw material in detonating cords, shaped charges and other components of blasting accessories. It is a hard and white crystalline solid that is insoluble in water and slightly soluble in other solvents. Its principal nonmilitary use is in blasting caps due to its sensitivity to percussion. In addition, it is usually mixed with other substances to lessen its sensitivity.
The increased mining activities and rising defense and military spending drive the global research department explosive (RDX) market. Though, stringent regulatory regimes and the availability of alternative mining and blasting materials limit the market growth. However, the increased demand for RDX in military activities and innovation to provide sophisticated products is projected to provide opportunities.
The surge in global mining activities, particularly the metal mining
During the last two decades, metal and mineral extractions have increased in unprecedented. The increase in global metal mining refers to establishing new mining operations, the physical expansion of existing sites and the intensification and optimization of the extraction process. Furthermore, as demand for alternative energy sources grows, mining activities have boosted globally, necessitating the use of high-performance explosives.
As a result, significant players in the chemical and explosive manufacturing industries are more likely to offer sophisticated RDX and explosive systems that have a precise impact on specific regions. For instance, improvised explosive devices (IEDs) in mining and other industries have a favorable impact on the global market growth.
Furthermore, rising coal output aids the market's expansion. For example, India produced 715.95 million tons of coal through underground mining in 2020. The increased production and mining activity positively impacted the global research department's explosive (RDX) market growth.
The increase in demand for research department explosive RDX in military operations
Governments worldwide are attempting to improve their military capabilities, which has increased demand for explosives and ammunition. Most countries do not have peaceful relations with their neighbors, increasing the risk of war or cross-border conflicts. As a result, these countries are constantly building and strengthening their militaries to deal with the worst-case scenarios and they are increasing their defense budgets year after year.
For instance, in 2020, U.S. allotted a budget of US$ 778,000 million for defense, up 4.4% from the previous year's budget. Similarly, China spent a total of US$ 252,000 million on its military structure in 2020, up 1.9% from the previous year's budget. Increased financial allocations have enticed several significant players in the business to develop and market their effective explosives.
As a result, the increasing product development and budget allocation, demand for RDX in military operations is predicted to expand, boosting the global market growth.
The availability of alternative mining and blasting materials is expected to restrain the market growth
Technological advancements in mining activities have enabled major industry players to develop and implement easier and cleaner mining methods, which has negatively impacted the global expansion of the RDX market. Drilling and machine-based mining are considered cleaner and safer alternatives since they do not produce shock waves from RDX explosions, which can cause landslides and other major accidents.
Furthermore, due to regulatory limits on the use of low carbon and nitrogen emission explosives, mining and construction businesses have chosen alternative ways for mining activities, which are hampering the global research department explosive (RDX) market's growth.
COVID-19 Impact Analysis
The global research department explosive (RDX) market was significantly impacted by a massive disruption in the chemicals and materials industry supply chain. It weakened company confidence, especially during the first phase. On the other hand, mining is one of the few industries to have recovered financially and operationally from the worst COVID-19 pandemic economic catastrophe. The mining industry had a good year in 2020. As a result, mining is likely to keep the market afloat as the market's largest end-user.
The global research department explosive (RDX) market is segmented into military & defense, mining, and others based on end-user.
The rising concerns about national security and the need to safeguard national borders and frontiers are prompting governments worldwide to increase spending on their military, defense weaponry and ammunition sectors. The top five defense and military application spenders are U.S., India, China, Russia and Saudi Arabia, accounting for more than 60% of the global military spending.
Research department explosive (RDX) is primarily utilized in the military as a bursting charge for mines, aerial bombs, torpedoes and a base charge for detonators. In addition, it can be combined with other explosives such as trinitrotoluene to generate cyclotrons that produce bursting charges for mines, aerial bombs and torpedoes.
Manufacturers are ramping up their R&D efforts to develop innovative products that will benefit the military industry. Research department explosive (RDX) is utilized in bombs, ammunition of all calibers, plastic explosives, missile warheads and other military applications. Furthermore, the surge in terrorist attacks in various nations has increased spending on military and defense applications, propelling the global research department explosive (RDX) market.
Based on geography, the global research department explosive (RDX) market is segmented into North America, Europe, South America, Asia-Pacific and Middle East & Africa.
North America is projected to have a significant market share owing to expanding mining sector and government spending on military and defense. According to the United States Geological Survey (USGS), metal mine production in U.S. in 2020 is expected to be US$ 27,700 million, up 3% from 2019.
Furthermore, the domestic output of rare-earth mineral concentrates climbed 10,000 metric tons to 38,000 metric tons in 2020, making U.S. the largest producer of rare-earth mineral concentrates outside of China for the second year in a row. As a result, the region's market is likely to benefit from increased mining activity.
Moreover, governments in the region are aggressively spending to enhance their defense and military with rising global tensions and increased terrorism activities. According to the Stockholm International Peace Research Institute (SIPRI), military spending in U.S. is expected to exceed US$ 778,000 million in 2020, up 4.4% from 2019. As the world's top military spender U.S. contributed 39% of overall military spending in 2020.
Therefore, heavy investment in research and development and various long-term programs such as modernizing the country's nuclear weapons and large-scale arms purchase is expected to drive the region's research department explosive (RDX) market.
The global research department explosive (RDX) market is consolidated and competitive with multinational businesses. Major players in the market include Austin Powder, BAE Systems, Dyno Nobel, EPC Groupe, Chemring Group PLC., Eurenco, Mil-Spec Industries Corporation, Orica Limited, PRVA ISKRA - NAMENSKA A.D. and Nitro-Chem SA., among others. The major players in the market are known to incorporate numerous market strategies to achieve growth in the global research department explosive (RDX) market; these include mergers, acquisitions, product launches, contributions and collaborations.
Overview: Austin Powder is a U.S.-based company specializing in manufacturing explosives and raw materials to blast rock and sporting arms. The company is headquartered in Ohio, U.S.
Product Portfolio: Austin Powder offers recrystallized RDX for Cord, recrystallized RDX for charges, Class 7 RDX, 1% Phlegmatized RDX and 2% Phlegmatized RDX.
The global research department explosive (RDX) market report would provide approximately 61 tables, 53 figures and almost 187 pages.
Target Audience 2022
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