Explosives & Pyrotechnics Market To Reach $40.87 Billion By 2030

Explosives & Pyrotechnics Market Growth & Trends

The global explosives & pyrotechnics market size is expected to reach USD 40.87 billion by 2030, registering a CAGR of 4.3% from 2025 to 2030, according to a new report by Grand View Research, Inc. The global explosives and pyrotechnics market is expected to grow significantly over the forecast period on account of increasing use of the product in construction and mining activities.

Rising number of projects for infrastructure development in Asia Pacific is expected to drive the demand for explosives as a blasting agent. Increasing government spending for infrastructure development in Asia Pacific and the Middle East on account of increasing domestic output is expected to play a significant role in amplifying construction activities in these regions.

In 2022, Asia Pacific contributed to approximately 47.0% of the total global construction spending. Also, the development of new construction and building projects in Asia is likely to boost market growth.

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Explosives & Pyrotechnics Market Report Highlights

• The pyrotechnics segment accounted for the largest revenue share of 43.7% in 2024. It is expected to grow at the fastest CAGR of 4.5% over the forecast period

• Based on application, the explosives market is segmented into mining, construction, military, and others. The mining segment accounted for the largest revenue share of 72.5% in 2025.

• Asia Pacific dominated the explosives and pyrotechnics market and accounted for the largest revenue share of 47.6% in 2024 and is expected to grow at the fastest CAGR of 4.9% over the forecast period

Explosives & Pyrotechnics Market Segmentation

Grand View Research has segmented the global explosives & pyrotechnics market on the basis of product, application, and region:

Explosives & Pyrotechnics Product Outlook (Revenue, USD Million, 2018 - 2030)

• Blasting agents

• Propellants

• Pyrotechnics

• Others

Explosives & Pyrotechnics Explosives Application Outlook (Revenue, USD Million, 2018 - 2030)

• Mining

• Construction

• Military

• Others

Explosives & Pyrotechnics Pyrotechnics Application Outlook (Revenue, USD Million, 2018 - 2030)

• Proximate pyrotechnics

• Consumer pyrotechnics

• Display pyrotechnics

• Others

Explosives & Pyrotechnics Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • Taiwan

  • South Korea

• Latin America

  • Argentina

  • Brazil

• Middle East & Africa

  • Saudi Arabia

List of Key Players of Explosives & Pyrotechnics Market

• Orica Limited

• Dyno Nobel (Incitec Pivot)

• MAXAM Corp.

• EPC Groupe

• AEL Mining Services

• Sasol Limited

• ENAEX

• Hanwha Corporation

• Solar Industries India

• Austin Powder Company