Global Gun Powder Market Size To Worth USD 252.2 Million By 2033 | CAGR of 9.80%
The Global Gun Powder Market Size was Valued at USD 99 Million in 2023 and the Worldwide Gun Powder Market Size is Expected to Reach USD 252.2 Million by 2033, according to a research report published by Spherical Insights & Consulting. Companies Covered: Alliant Powder, F.R.E. S.R.L, Bofors, Oriental Gunpowder Company, Pravisani S.P.A., Ramshot Powders, General Dynamics, Nitrochemie Group, Laflin & Rand Powder Company, Du PONT, Schaghticoke Gunpowder Company, Hodgdon, HAZZARD, Vihtavuori, Cheddite S.R.L., and Other Key Vendors.
New York, United States , March 19, 2024 (GLOBE NEWSWIRE) -- The Global Gun Powder Market Size is expected to Grow from USD 99 Million in 2023 to USD 252.2 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 9.80% during the projected period.
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Gun powder is composed of the following chemicals: sulphur, charcoal, and wallpaper. It is also known as the black powder. A low-explosive substance termed gun powder is used as a propellant in firearms. Saltpeter serves as an oxidant, and charcoal and sulphur as fuels. Gun powder is widely utilized as a blasting powder in mining, quarrying, and road construction as well as a propellant in cannons, artillery, rockets, and pyrotechnics due to its extremely incendiary nature, which also releases a lot of heat and gas. Gun powder, a non-explosive propellant used in guns, differs from high explosives like dynamite and TNT due to its slower combustion rate and pressure wave. The market for gun powder is expanding due to the rise in shooting sports and recreational activities, especially in regions prone to political unrest and increased terrorist activity. The growth of medication research and development as well as the establishment of new pharmaceutical manufacturing sectors. A few other variables that have benefited the sector are growing popularity of sports and other uses. However, the regulations for pollution control placed on development of gun powder industries are becoming more and more complex. Explosives are capable of completely changing a terrain. Hence, these factors hamper the growth of the global gun powder market during the forecast period.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the* "Global Gun Powder Market Size, Share, and COVID-19 Impact Analysis, By Type (Smokeless, Smoky), By Sub-Type (Single-Base, Double-Base, Triple-Base), By Application (Military & Defense, Entertainment, Mining, Fireworks, Construction, Sporting, Others), By End-User (Government, Private, Commercial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033)."*
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*The smokeless segment is anticipated to hold the greatest share of the global gun powder market during the projected timeframe. *
On the basis of type, the global gun powder market is divided into smokeless and smoky. Among these, the smokeless segment is anticipated to hold the greatest share of the global gun powder market during the projected timeframe. The growth can be attributed to the expanding demand in the film, television, and entertainment industries, where smokeless gunpowder is frequently utilized for special effects.
*The single-base segment is anticipated to hold the greatest share of the global gun powder market during the projected timeframe. *
On the basis of sub-type, the global gun powder market is divided into single-base, double-base, and triple-base. Among these, the single-base segment is anticipated to hold the greatest share of the global gun powder market during the projected timeframe. The segmental growth can be attributed to the vital part of firearms carried by civilians, law enforcement officers, and military personnel since they are commonly utilized in small arms rounds.
*The military & defense segment is predicted to hold the greatest share of the global gun powder market during the estimated period.*
On the basis of application, the global gun powder market is divided into military & defense, entertainment, mining, fireworks, construction, sporting, and others. Among these, the military & defense segment is predicted to hold the greatest share of the global gun powder market during the estimated period. The widespread use of small arms, machine guns, artillery pieces, missiles, and other weapons in military and defensive purposes is responsible for the growth.
*The government segment is predicted to hold the greatest share of the global gun powder market during the estimated period.*
On the basis of end-user, the global gun powder market is divided into government, private, and commercial. Among these, the government segment is predicted to hold the greatest share of the global gun powder market during the estimated period. The segmental growth can be attributed to the huge demand for gunpowder in the defense and military industries.
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*North America is expected to hold the largest share of the global gun powder market over the forecast period*.
North America is expected to hold the largest share of the global gun powder market over the forecast period. The widespread use of gun powder in the construction, entertainment, and military industries. North America's and particularly the United States' armed forces rank among the largest and most sophisticated in the world. Growing investments in defense and military activities have resulted in a strong demand for gunpowder, a crucial component of many ammunition types. Constant research and development fuel need for better gunpowder formulas and boost region's standing in the global market. The high prevalence of gun ownership in the region drives up the demand for ammunition, which in turn drives up the demand for gunpowder.
Asia-Pacific is predicted to grow at the fastest pace in the global gun powder market during the projected timeframe. High demand from a variety of end-use sectors, including the building, mining, entertainment, and military and defense industries. Due to state defense investments, the Asia-Pacific region's territorial disputes and geopolitical tensions are driving up military readiness and gunpowder demand.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global gun powder market include Alliant Powder, F.R.E. S.R.L, Bofors, Oriental Gunpowder Company, Pravisani S.P.A., Ramshot Powders, General Dynamics, Nitrochemie Group, Laflin & Rand Powder Company, Du PONT, Schaghticoke Gunpowder Company, Hodgdon, HAZZARD, Vihtavuori, Cheddite S.R.L., Others.
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*Market Segment*
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global gun powder market based on the below-mentioned segments:
*Global Gun Powder Market, Type*
· Smokeless
· Smoky
*Global Gun Powder Market, By Sub-Type*
· Single-Base
· Double-Base
· Triple-Base
*Global Gun Powder Market,* *By Application*
· Military & Defense
· Entertainment
· Mining
· Fireworks
· Construction
· Sporting
· Others
*Global Gun Powder Market, By End-User*
· Government
· Private
· Commercial
*Global Gun Powder Market, Regional Analysis*
· *North America*
· US
· Canada
· Mexico
· *Europe*
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· *Asia Pacific*
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· *South America*
· Brazil
· Argentina
· Rest of South America
· *Middle East & Africa*
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of the Middle East & Africa
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