Global Research Department Explosive Industry Worth US$ 10,363.27 million in 2027Posted by Lisa Seghers on October 4th, 2022  According to the new research report published by The Insight Partners, titled “Research Department Explosive (RDX) Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type and Application” was valued at US$ 8,061.38 million in 2019 and is projected to reach US$ 10,363.27 million by 2027; it is expected to grow at a CAGR of 3.3% from 2020 to 2027. The Global Research Department Explosive Market in North America is anticipated to witness a significant growth due to high demand from the mining, military, and construction sectors. Moreover, utilization of the private investment models to plan road construction activities in the country is projected to augment the demand for explosives in the US. Europe also held the significant market share in 2019. Mining is an important economic activity for European countries, such as such as Russia and Germany. Germany is one of the key producers of refined selenium, lignite, kaolin, potash, sulfur, crude steel, and refined copper. Increasing extraction activities of the ores are boosting the demand for the mining applications, which, in turn, bolsters the market growth. Research department explosive (RDX) is hard, dissolvable in different solvents such as ethanol and ether, and insoluble in water. The manufacturing process of RDX comprises multiple stages, such as nitration, raw materials storing and feeding, filtration, disintegration, and transport. Various manufacturers are investing comprehensively in research & development activities to build up pioneering products to support the defense forces and fulfill ever-escalating product demand. RDX is used in various military and typical applications such as fireworks and cast PBX charges. The global research department explosive market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2019, Asia Pacific held the largest share of the market. The rise in demand for RDX in military and civilian applications drives the market growth in Asia Pacific. In addition, RDX is increasingly used in the construction and mining industries. The mining industry requires such high-performance explosives for rock excavation and exploration activities. The market in Europe and North America is driven by increasing defense expenditure and rising mining activities across these regions. The COVID-19 outbreak was first reported in Wuhan (China) in December 2019. As of January 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among of the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures updated on January 2021, there are ~83,322,449 confirmed cases and 1,831,412 total deaths globally. The outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals & materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. For instance, China is the global manufacturing hub and the largest raw material supplier for various industries, and it is also one of the worst-affected countries. About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials. Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Sameer Joshi E-mail: sales@theinsightpartners.com Phone: +1–646–491–9876 Like it? Share it! More by this author |