Market Overview:

The Pyrotechnic Chemicals Market size is estimated to reach $3.2 billion by 2030, growing at a CAGR of 4.2% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Pyrotechnic Chemicals Market Size, Share & Trends Analysis Report - By Type (Proximate Pyrotechnics, Consumer Pyrotechnics, and Display Pyrotechnics), By Application (Fireworks, Safety Matches, Oxygen Candles, Automotive Airbags, Gas-Pressure Blasting, and Others), By End-Use Industry (Transportation (Automotive, Aerospace, Marine, and Locomotive), Building & Construction (Residential, Commercial, Industrial, and Infrastructure), Mining Industry, Consumer Goods, Entertainment Industry and Others), By Geography – Opportunity Analysis & Industry Forecast, 2024-2030”

Rising demand for consumer goods and growth of the defense and military industry are fueling the growth of the Pyrotechnic Chemicals industry during the forecast period.

Asia-Pacific Dominated the Market in 2023:

In 2023, the Asia-Pacific region held a substantial share of 38.9% in the pyrotechnic chemicals market, underscoring its dominance. This growth is largely driven by the extensive applications of pyrotechnic chemicals across various industries. The automotive sector plays a crucial role, as the region boasts a robust base for automotive manufacturers. According to the European Automobile Manufacturers Association, global new car sales surged by nearly 10% in 2023, following a stable 2022. Additionally, the Indian passenger car market is projected to reach US$ 54.84 billion by 2027, highlighting the region's significance in the pyrotechnic chemicals landscape. 

Pyrotechnic Chemicals Market: Key Takeaways

Rising Demand for Consumer Goods is Driving the Market Growth:

Pyrotechnics find extensive use in consumer goods, including fireworks and oxygen candles. The growing global demand for diverse consumer products is propelling the Pyrotechnic Chemicals Market. According to the India Brand Equity Foundation, the Indian consumer durables market is projected to reach $34 billion by 2025. As production of consumer goods escalates worldwide, the need for pyrotechnic chemicals is expected to increase across various applications. This surge in demand is anticipated to significantly boost the growth of the pyrotechnic chemicals industry, highlighting its importance in meeting the evolving needs of consumers globally.

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Market Growth Driven by Growth of the Defence and Military Industry:

Pyrotechnic chemicals play a crucial role in military applications, providing essential noise, light, and infrared radiation for missile decoy flares, flash powders, and stun grenades. This usage promotes the growth of the pyrotechnic chemicals market. Additionally, rising government military expenditures contribute to this expansion. The Stockholm International Peace Research Institute reports that global military spending reached $2.443 trillion in 2023, marking a 6.8% increase. As military and defense sectors continue to grow, the demand for pyrotechnic chemicals is expected to rise, further enhancing the industry's prospects over the forecast period. 

Scope of the Report: 

Report Metric 

Details 

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

4.2%

Market Size in 2030

$3.2 billion

Segments Covered

By Type, By Application, By End-Use Industry, and By Region

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players

      1.  Solar Industries India

2.  Melrose Pyrotechnics

3.  Zambelli Fireworks

4.  Pyro Company Fireworks

5.  Angelfire Pyrotechnics

6.  Howard & Sons

7.  Skyburst

8.  Entertainment Fire-works

9.  Supreme Fireworks

     10. Celebration Fireworks


Recent Developments:

  •  In February 2022, TSAML an indirect wholly owned subsidiary of Tata Steel Limited, has executed a Share Purchase cum Shareholders’ Agreement for acquisition of 90% equity stake in Ceramat Private Limited to focus on producing Pyrotechnic Chemicals.

Pyrotechnic Chemicals Market: Competitive Landscape

Key companies profiled in the Pyrotechnic Chemicals Market are Solar Industries India, Melrose Pyrotechnics, Zambelli Fireworks, Pyro Company Fireworks, Angelfire Pyrotechnics, Howard & Sons, Skyburst, Entertainment Fire-works, Supreme Fireworks, Celebration Fireworks, and others.

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Mr. Venkat Reddy
IndustryARC
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