According to a recent report published by Allied Market Research, titled, “Research Department Explosive (RDX) Market by Type, Application, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global research department explosive (RDX) market was valued at $9.83 billion in 2020, and is projected to reach $13.92 billion by 2030, registering a CAGR of 3.4% from 2021 to 2030.
Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. China was the major share contributor in the global RDX market in 2020. Mexico is expected to grow at a significant rate during the forecast period, owing to increase in mining activities carried out across the country.
Explosive is any substance or device that produces a massive volume of rapidly expanding gas in an extremely brief period. RDX, also known as hexogen, or cyclotrimethylenetrinitramine, or cyclonite. is a nitramine explosive compound that can be utilized as a propellant, gunpowder, or high explosive, depending on the initiation type such as remotely operated or when introduced to fire. RDX can either be used with other explosives, such as trinitrotoluene, to develop cyclotols, which produce bursting charges for mines, torpedoes, and aerial bombs, or it can be employed as a base charge for detonators.
Demand for RDX is expected to be significantly high in the non-military applications such as mining, oil & gas exploration, demolition, and avalanche control, which is likely to notably contribute toward the growth of the global market. Asia-Pacific accounted for the largest share of the global RDX market in 2020, owing to rise in demand for RDX in military and civilian applications. Furthermore, the market growth in Europe and North America is being driven by increase in defense expenditure and rise in mining activities across these regions. RDX is widely used in the construction and mining industries, as these industries require high-performance explosives for rock excavation and exploration activities..
The global RDX market is segmented into type, application, sales channel, and region. By type, the market is categorized into explosives, pyrotechnics, and others. The applications covered in the study include military and civilian. Depending on sales channel, the market is fragmented into domestics and international. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
Factors such as increase in mining activities and rise in spending on defense & military applications significantly contribute toward the growth of the global RDX market during he forecast period. However, stringent regulatory frameworks pertaining to the use of RDX and availability of alternate methods for mining & blasting act as the key deterrent factors of the market. On the contrary, the demand for RDX in military operations and innovation & development toward offering advanced products are expected to creates ample opportunities for the growth of the market during the forecast period.
Key Findings Of The Study
- By type, the others segment is expected to register significant growth during the forecast period.
- On the basis of application, the civilian segment is anticipated to exhibit significant growth in the future.
- Depending on sales channel, the domestics segment is anticipated to exhibit significant growth in the future.
- LAMEA is anticipated to register the highest CAGR.
Covid-19 Impact Analysis
- The COVID-19 crisis is creating uncertainty in the market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments.
- Governments of different regions have already announced lockdown and temporarily shutdown of industries, which have adversely affected the overall production and sales.
- The RDX market experienced a moderate decline in 2020, owing to the outbreak of the COVID-19 pandemic.
- The chemicals & materials is one of the major industries, which experienced supply chain disruption, technology events cancellations, and office shutdowns.
- The lockdown of different plants and factories in China has limited the manufacturing activities, delayed delivery schedules, and declined the sale of various chemicals & materials.
The key players operating in the global research department explosive (RDX) market includes Austin Powder Company, BAE Systems, Chemring Group PLC., Dyno Nobel, EPC Groupe, Eurenco, Mil-Spec Industries Corporation, Nitro-Chem SA., Orica Limited and PRVA ISKRA – NAMENSKA A.D.