PUBLISHER: Grand View Research | PRODUCT CODE: 1751543
PUBLISHER: Grand View Research | PRODUCT CODE: 1751543
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.