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Solventless CarpetRoll Propellant Market - Forecast(2023 - 2028)
Solventless CarpetRoll Propellant Market Overview
Solventless
CarpetRoll Propellant Market size is forecast to reach US$405.2 million by 2027,
after growing at a CAGR of 3.1% during 2022-2027. Carpet roll-type propellant is fabricated by taking the scroll grain that has the desired
propellant composition on opposite sides of a reinforcing media. A successful
carpet roll type propellant has been made utilizing the fabrication procedures
disclosed by the applicant and utilizing a scroll grain that had a web thickness of
0.030 1- 0.00l inches, a grain width of 9 inches, a grain length of 96 inches, and a fiberglass reinforcing material of 14 X 18 mesh with a 0.013 strand
diameter. The carpet roll propellant produced had reinforcement throughout the
grain length and reinforcement of the propellant is maintained until burnout of
the propellant. Double-base propellants generally
require careful application of flame retardant inhibitors if one desires to protect the
internal motor walls from flame. Polyvinyl chloride, ethylcellulose, and
cellulose acetate are typical inhibitor materials for free-standing cartridge
grains. The rapid growth of the mining industry is driving the market growth, for
instance, according to the United States, Environment Protection Agency (EPA), in
2021 U.S. metal mine production was estimated to be US$28 billion which is 35%
higher than the previous year and anticipated to grow in the forecast period.
APAC holds the major share of the overall solventless-carpetroll propellant
market. Ammonium perchlorate appears as a white,
crystalline solid or powder, used to make rocket propellants, explosives,
pyrotechnics, as an etching and engraving agent, and in analytical chemistry
Covid-19 Impact
The coronavirus disease 2019 (COVID-19)
pandemic has plunged the world into an economic crisis vastly different from
any in recent memory. The dual health and economic crisis were experienced in
2020, which will require more than monetary policy in the long term. Due to the
imposition of lockdowns across different countries, companies are facing severe
cash flow issues. Halting or slowing down of solventless-carpetroll propellant,
as well as disruptions in the supply chain logistics globally owing to the
outbreak of COVID-19, have resulted in reduced demand for
solventless-carpetroll propellant. Besides, OECD data shows that global GDP
decreased by 4.2% in 2020, while it is expected to increase by the same amount
in 2021. By late 2021, the global economy is expected to return to
pre-coronavirus levels, but this will be an uneven process across different
countries.
Report Coverage
The “Solventless CarpetRoll
Propellant Market Report – Forecast (2022-2027)”, by IndustryARC, covers an
in-depth analysis of the following segments of the Solventless CarpetRoll
Propellant Industry.
Key Takeaways
- Asia Pacific dominates the Solventless CarpetRoll Propellant Market owing to a rapid increase
in the military sector and mining sector.
- Military Agencies Seeking for Advanced Gun and Rocket Systems and the rising growth of mining industry is driving the market growth.
- Stringent government stringent regulation is hampering the market growth.
Figure: Asia Pacific Solventless CarpetRoll Propellant Market Revenue, By Application 2021-2027 (US$ Million)
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Solventless CarpetRoll Propellant Market Segment Analysis - By Type
The double Base segment held the
largest share in the Solventless CarpetRoll Propellant Market in 2021 and is
estimated to grow at 2.3% CAGR during 2022-2027.
An area of propellant manufacturing is the extruded solvent less double-base
rocket propellants. They are smokeless propellant grains mainly used in short-range systems like shoulder-launched systems, unguided rockets, and
surface-to-air missiles and rockets. These are propellants with ballistic
modifiers which alter the burning characteristics of the propellant, especially for use in the military or in the mining industry. Thus, the development in the
end-use positively impacts the growth of Solventless CarpetRoll Propellant Market. For instance, in 2021 the Defense Procurement Policy has seeded the
development of a robust Defence manufacturing environment in India. The Indian Government
has announced a capital allocation of US$14 Billion towards modernization of
the Army, Navy, and Airforce.
Solventless CarpetRoll Propellant Market Segment Analysis - By Application
Military segment held the largest
share in the solventless carpet roll propellant market in 2021 and is forecast to
grow at 3.2% CAGR during 2022-2027. The major
ingredients of modern military propellants are actually few. They consist of
fuels, oxidizers, and binders (polymers), and are fairly basic in their chemical
nature and structure. The minor ingredients, used to assist or tie together the
major ingredients, are more numerous and sometimes more complex. The
interactions of these major and minor ingredients, when combined into a
practical solid propellant, are especially complex. These interactions can take
place at all stages of manufacture, storage, and use. The history of truly
efficient military propellants is a fairly short one in this country, dating
from 1900 for guns and from 1942 for rockets. However, the chemistry of
propellant ingredients has a long history. For example, the use of black
powder dates back more than 700 years in Europe and probably 1000 years in the
Orient. These facts emphasize the point that mastering the really difficult science
of propellants comes in understanding the complex interactions that take place
in their preparation, storage, and use. Therefore, the development in the
military sector anticipates the growth of Solventless CarpetRoll Propellant Market, for instance, according to Stockholm International Peace Research Institute, World military expenditure was US$1981 billion in 2021, an increase
of 2.6 percent on 2020 in real terms.
Solventless CarpetRoll Propellant Market Segment Analysis - By Geography
Asia-Pacific had accounted for the largest share of 32% in 2021, analyzed to grow with a CAGR of 3.8% during the forecast period 2022-2027, followed by North America and Europe. APAC holds the dominance in the market particularly due to emerging economies like China and India. Many international companies have recently increased their presence in these regions. Over the years, China has produced 11% of the world's mines, making it the top exporter. The presence of key players such as Hitachi Construction Machinery Co., Ltd., and Komatsu Ltd. is providing a major contribution to the growth of the mining industry which is a key end-use industry in Solventless CarpetRoll Propellant Market. Increasing growth in the coal mining sector along with rising investments in research and development is fueling the growth of Solventless CarpetRoll Propellant Market in this region. Besides, according to Invest India, to develop a dynamic, robust, and competitive Defence industry, including the Aerospace and Naval Shipbuilding industry to cater to the needs of the Armed forces with quality products, India is all set to achieve a turnover of US$25 Billion including export of US$5 Billion in Defense goods and services by 2025. Thus, positively impacting the growth of Solventless CarpetRoll Propellant Market.
Solventless CarpetRoll Propellant Market Drivers
Military Agencies Seeking Advanced Gun and Rocket Systems
The
growing safety concerns and the increasing need to protect the national borders and
boundaries are inclining the government of different nations to spend more on
their respective military, defense arms, and ammunition. Additionally, the
increase in the number of instances of terror attacks in different countries
has led them to increase their spending on military and defense applications,
which drives the growth of the Solventless CarpetRoll Propellant Market. The
constant government initiatives for the advancement of military systems are
driving the market growth. For instance, US military expenditure grew by 4.4
percent in 2021, to US$778 billion. China 1.9 percent, India 2.1 percent, Russia
2.5 percent, and the UK 2.9 percent all increased their military spending in
2021. On the other hand, the Indian Defence Acquisition Council (DAC) approved
the broad contours of the Strategic Partnership Model (SPM) in its meeting held
in 2019, the policy is intended to engage the Indian private sector in the
manufacture of hi-tech defense equipment in India. It is an establishment of
long-term strategic partnerships with qualified Indian industry majors through
a transparent and competitive process. Thus, escalating the growth of Solventless CarpetRoll Propellant Market.
The rising demand from the Mining Industry
The increase in demand for underground mining equipment owing to proactive changes in energy efficiency regulations by various governments across the globe is contributing to industry growth. The growth of infrastructure along with an increase in mining activities is contributing to the segment growth. Besides, the adoption of synchronized solventless carpetroll propellant offers a significant advantage to manufacturers and consumers. According to Federal Highway Administration Research and Technology, it is estimated that mining processes of mineral ores generate approximately 1.6 billion metric tons of mineral processing waste each year in the U.S. The new norms include recycling and proper treatment before disposal. Thus, anticipating the overall market growth of Solventless CarpetRoll Propellant Market.
Solventless CarpetRoll Propellant Market Challenges
Stringent regulatory policies
A volatile organic compound (VOC) is any chemical that becomes a gas at room temperature and has the potential to react with the surrounding atmosphere. VOCs are dangerous to air quality because when they react with nitrogen oxide under UV radiation, ground-level ozone is formed. This rule establishes a number of categories for the max VOC level for field-applied coatings to stationary structures, pavements or curbs. Therefore, these factors might hamper the market growth.
Solventless CarpetRoll Propellant Industry Outlook
Technology launches, acquisitions,
and R&D activities are key strategies adopted by players in the Solventless
CarpetRoll Propellant Market. Solventless CarpetRoll Propellant Market top 10
companies include:
- RPC Group Plc (UK)
- Reynolds Group Holdings Limited (New Zealand)
- Crown Holdings Inc. (U.S.)
- Amcor Limited (Australia)
- Rexam PLC (UK)
- Berry Plastics Corporation (U.S.)
- Silgan Holdings Inc. (U.S.)
- AptarGroup Inc. (U.S.)
- Guala Closures Group (Italy)
- BERICAP GmbH Co. & KG (Germany).
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