Pyrotechnic Chemicals Market – Forecast (2022-2027)

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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.

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.

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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.

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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.

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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: