The Business Research Company’s Explosives Market Global Report 2020-30: COVID-19 Growth and Change. The report covers market size, key players, market share and trends to 2030.
Explosives Market Global Report 2020-30: COVID-19 Growth and Change is one of a series of new reports from The Business Research Company that provide Explosives market overviews, analyze and forecast market size and growth for the whole market, Explosives market segments and geographies, Explosives market trends, Explosives market geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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The explosives market consists of revenues earned by entities (organizations, sole traders and partnerships) that are engaged in the production and distribution of explosives. Explosives refer to materials, mixtures and chemical compounds that are capable of exploding. The explosives are majorly divided into two categories i.e., high explosives (used in defense & military applications) and low explosives (used in civilian applications). Trinitrotoluene (TNT), RDX, and acetone peroxide (TATP) are few of the most powerful explosives the find its applications in military, mining and industrial applications.
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The global explosives market is expected to grow from $25.2 billion in 2019 to $25.9 billion in 2020 at a compound annual growth rate (CAGR) of 3.08%. The low growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to reach $27.8 billion in 2023 at CAGR of 2.3%.
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