Pyrotechnic Chemicals Market - Forecast(2023 - 2028)

Report Code: CMR 0978 Report Format: PDF + Excel

Pyrotechnic Chemicals Market Overview

The Pyrotechnic Chemicals Market size is estimated to reach more than US$2.8 billion by 2027, after growing at a CAGR of 4.2% during the forecast period 2022-2027. A pyrotechnic composition is a substance or mixture of substances such as calcium nitrate, cinnamic acid, potassium chlorate, potassium nitrate and others that produce an effect through heat, light, sound, gas, or a combination of these as a result of non-detonative self-sustaining exothermic chemical reactions. The industry is expected to grow significantly over the forecast period due to increased use of the product in construction and mining activities. The increasing number of infrastructure development projects in developing countries is expected to drive demand for pyrotechnic chemicals. The covid-19 pandemic majorly impacted the Pyrotechnic Chemicals Market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as construction and others, the Pyrotechnic Chemicals industry is anticipated to grow rapidly during the forecast period.

Pyrotechnic Chemicals Market Report Coverage

The “Pyrotechnic Chemicals Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Pyrotechnic Chemicals industry.

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 Orders.
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (the Middle East and Africa).

Key takeaways

  • Asia-Pacific dominates the Pyrotechnic Chemicals Market size. The increase in demand from applications such as fireworks, oxygen candles and others, is the main factor driving the region's growth.
  • One of the primary factors contributing to the Pyrotechnic Chemicals Market's favorable outlook is significant growth in the automotive industry around the world.
  • The flourishing building and construction industry is boosting the demand for Pyrotechnic Chemicals for applications, thereby driving the Pyrotechnic Chemicals industry.
  • However, Health Hazards related to Pyrotechnic Chemicals are limiting the Pyrotechnic Chemicals Market growth.

Figure: Pyrotechnic Chemicals Market Revenue Share by Geography, 2021 (%)

Pyrotechnic Chemicals Market

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Pyrotechnic Chemicals Market Segment Analysis – by Application

The Fireworks held a significant share in the Pyrotechnic Chemicals Market share in 2021 and is projected to grow at a CAGR of 4.5% during the forecast period 2022-2027. Pyrotechnic chemicals such as calcium nitrate, cinnamic acid, potassium chlorate and others are used to make fireworks. Global trends in spectacular fireworks are boosting the pyrotechnics chemical market. For instance, every year on July 4th, a massive fireworks display to celebrate American independence requires a significant amount of engineering and creativity in the pyrotechnics sector. With the rise in fireworks production across the globe, the demand for pyrotechnic chemicals is anticipated to rise for various applications, which is projected to boost the pyrotechnic chemicals industry’s growth during the forecast period.

Pyrotechnic Chemicals Market Segment Analysis – by Application

Automotive held a significant share in the Pyrotechnic Chemicals Market share in 2021 and is projected to grow at a CAGR of 4.9% during the forecast period 2022-2027. Pyrotechnics chemicals are used in a variety of automotive applications, including airbags and belt pretensioners. Increasing demand for transportation is driving the Pyrotechnic Chemicals Market. According to the Energy Information Administration (EIA), by 2035, there will be 1.7 million automobiles worldwide. According to the International Organization of Motor Vehicle Manufacturers (OICA), automobile output increased by 10% in the first nine months of 2021, to 57.26 million vehicles, up from 52.15 million units in the same period last year. With the rise in automotive production across the globe, the demand for pyrotechnic chemicals is anticipated to rise for various applications, which is projected to boost the pyrotechnic chemicals industry growth in the automotive industry during the forecast period.

Pyrotechnic Chemicals Market Segment Analysis – by Geography

The Asia-Pacific held a significant share in the Pyrotechnic Chemicals Market share in 2021 up to 38.9%. The flourishing growth of pyrotechnic chemicals is influenced by its major applications across major industries, along with growing development in automotive production and developing the base for pyrotechnic chemicals in APAC. The automotive sector in Asia-Pacific is rapidly growing due to a flourishing base for automotive manufacturers, demand for automotive compounds and production rise. According to India Brand Equity Foundation, in 2021, the Indian passenger car market was valued at US$ 32.70 billion and it is expected to grow to US$ 54.84 billion by 2027. According to International Trade Administration, China remains the world's largest vehicle market in terms of both annual sales and manufacturing output, with domestic output expected to reach 35 million vehicles by 2025. Thus, the growth of pyrotechnic chemicals in the region is being aided by the increasing automotive sector in APAC, thereby dominating the market in the Asia-Pacific region.

Pyrotechnic Chemicals Market Drivers

Rising Demand for Consumer Goods:

Pyrotechnics are used in a wide range of consumer goods applications, including oxygen candles, fireworks and others. Increasing demand for the variety of consumer goods across the globe is driving the Pyrotechnic Chemicals Market in the consumer goods industry. For instance, In January 2021, Fireworks, based in Silicon Valley, has now launched in India. According to India Brand Equity Foundation, the market for consumer durables in India is expected to reach US$ 34 billion by 2025. With the rise in consumer goods production across the globe, the demand for pyrotechnic chemicals is anticipated to rise for various applications, which is projected to boost the pyrotechnic chemicals industry growth.

Bolstering Growth of the Defence and Military Industry:

Pyrotechnic chemicals are widely used in military applications. When a large amount of noise, light, or infrared radiation is required, military pyrotechnics are used for missile decoy flares, flash powders and stun grenades, thereby driving the pyrotechnic chemicals market. Moreover, an increase in government spending will also propel market growth. According to Delhi Policy Group, Overall defense expenditure for FY 2021-2022 is Rs.3,62,345.62 Crore (US$ 49.6 billion), an increase of Rs.24,792.62 Crore (US$ 3.4 billion) over FY 2020-2021 Budget Estimates in India. According to the Military of Defence, UK, in 2020/21, the government spend £42.4 billion on defense, a £2.5 billion increase over the previous year. With the increasing military and defense industry, the demand for pyrotechnic chemicals will also likely increase, as a result of which the pyrotechnic chemicals industry will be flourished over the forecast period.

Pyrotechnic Chemicals Market Challenge

Stringent Regulations:

The presence of stringent regulations is expected to hinder the Pyrotechnic Chemicals industry's growth over the forecast period. For instance, the Consumer Product Safety Commission is authorized to regulate hazardous substances, including fireworks devices, under the Federal Hazardous Substances Act (FHSA; 15 U.S.C. 1261-1278). Pyrotechnic Chemicals caused significant harm to humans, animals and the environment as a result of the noise and pressure released during mining operations. Moreover, Volatile raw material costs such as calcium nitrate, cinnamic acid and potassium chlorate, complexity and safety of manufacturing processes all add to the cost of the finished product, which is expected to have a negative impact on market growth over the forecast period. Thus, these are some of the key obstacles to the Pyrotechnic Chemicals industry.

Pyrotechnic Chemicals Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Pyrotechnic Chemicals Market. The top 10 companies in the Pyrotechnic Chemicals Market are:

  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

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1. Pyrotechnic Chemicals Market - Market Overview
    1.1 Definitions and Scope
2. Pyrotechnic Chemicals Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by End-use Industry
    2.4 Key Trends by Geography
3. Pyrotechnic Chemicals Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Pyrotechnic Chemicals Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Pyrotechnic Chemicals Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Pyrotechnic Chemicals Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Pyrotechnic Chemicals Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Pyrotechnic Chemicals Market - By Type (Market Size - US$ Million/Billion)
    8.1 Proximate Pyrotechnics
    8.2 Consumer Pyrotechnics
    8.3 Display Pyrotechnics
9. Pyrotechnic Chemicals Market - By Application (Market Size - US$ Million/Billion)
    9.1 Fireworks
    9.2 Safety Matches
    9.3 Oxygen Candles
    9.4 Automotive Airbags
    9.5 Gas-Pressure Blasting
    9.6 Others
10. Pyrotechnic Chemicals Market - By End-use Industry (Market Size - US$ Million/Billion)
    10.1 Transportation
        10.1.1 Automotive
            10.1.1.1 Passenger Vehicles (PV)
            10.1.1.2 Light Commercial Vehicles (LCV)
            10.1.1.3 Heavy Commercial Vehicles (HCV)
        10.1.2 Aerospace
            10.1.2.1 Commercial
            10.1.2.2 Military
            10.1.2.3 Others
        10.1.3 Locomotive
        10.1.4 Marine
            10.1.4.1 Passenger
            10.1.4.2 Cargo
            10.1.4.3 Others
    10.2 Building & Construction
        10.2.1 Residential
        10.2.2 Commercial
        10.2.3 Industrial
        10.2.4 Infrastructural
    10.3 Mining Industry
    10.4 Entertainment Industry
    10.5 Consumer Goods
    10.6 Others
11. Pyrotechnic Chemicals Market - By Geography (Market Size - US$ Million/Billion)
    11.1 North America
        11.1.1 the USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 the UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 the Netherlands
        11.2.6 Spain
        11.2.7 Belgium
        11.2.8 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 the Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
    11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Pyrotechnic Chemicals Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Pyrotechnic Chemicals Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share by Key Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Pyrotechnic Chemicals Market – Key Company List by Country Premium Premium
15. Pyrotechnic Chemicals Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
* "Financials would be provided to private companies on a best-efforts basis."
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