A recent report published by Infinium Global Research on gun powder market provides an in-depth analysis of segments and sub-segments in global as well as regional gun powder market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional gun powder market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global gun powder market. According to the report the global gun powder market is projected to grow with the help of healthy CAGR over the forecast period of 2018-2024.
Gun powder was invented by Chinese alchemists in the 9th century. Gun powder is a mixture of chemical substances including sulfur, charcoal, and wallpaper. Gun powder is also known as a black powder. Gun powder is a low-explosive substance that is used as a propellant in firearms. The sulfur and charcoal act as fuels while the saltpeter is an oxidizer. Owing to its incendiary properties and the amount of heat and gas volume that it generates, gun powder has been widely used as a propellant in firearms, artillery, rockets, and fireworks and as a blasting powder in quarrying, mining, and road building. Gun powder is distinguished from "high" explosives—dynamite and TNT because of its lower burning speed that produces a slower pressure wave, which is less likely to damage the barrel of a gun. Gun powder is frequently used as an ingredient in fuses, both for fireworks and explosives.
Gun powder has a wide number of applications. It is used in mining for carrying out the explosion in a controlled environment. In fireworks in conjunction with other chemicals to create explosive, colorful visuals in fireworks and in the entertainment industry to provide special effects in movies, televisions and stage production. These aforementioned factors are mainly responsible for driving the gun powder market. Besides this, Gun powder has been widely used as a propellant in firearms, artillery, grenades and in several other military applications. However, gun powder firearms are limited primarily to hunting, target shooting, and bullet-less historical reenactments. Furthermore, it is also used as medicine to cauterize wounds in emergency situations. Moreover, Farmers use gun powder to clear fields. On the other hand, the adoption of newer alternatives such as dynamite and ammonium nitrate/ fuel oil has been growing in modern weapons and for industrial purpose, owing to the low cost of the alternate product. This, in turn, to hamper the growth of the gun powder market. Also, there are strict regulations in various jurisdictions for unsafe or insecure storage of explosive materials such as gun powder. Also, it requires licenses to engage in the business of importing, manufacturing and/or distributing explosives materials.
Among the geographies, North America dominated the gun powder market in 2017 and is expected to dominate the same throughout the forecast period owing to the vast use of gun powder in the military, construction and entertainment industry. APAC region is the second largest region in the Gun powder market. Countries like China, India, and Australia are responsible for driving growth in the Asia Pacific Region.
The report on global gun powder market covers segments such as types, burn type and end-user. On the basis of types, the global gun powder market is categorized into Hodgdon triple seven, Alliant green dot, Winchester 748, IMR 4350 and Hodgdon 4831. On the basis of burn type, the global gun powder market is categorized into smokeless and smoke. On the basis of end-user, the global gun powder market is categorized into military & defense, entertainment, mining, fireworks, construction, and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global gun powder market such as Gunpowder Capital Corp, DuPont, Pravisani S.p.A., G & L Calibers Limited, Nitrokemia Vegyipari Rt, CHEDDITE S.R.L., CHEMRING ENERGETICS UK LIMITED, LEVERONE BRUNO, F.R.E. S.R.L, and Tecnomine s.a.s.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global gun powder market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of gun powder market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the gun powder market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the gun powder market to understand the present and future trends in this market and formulate their strategies accordingly.
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