RDX and HMX Market to Expand at CAGR of 3.8% Due to Rising Need For National Security in Various Countries, Says TMR

ALBANY, N.Y., Nov. 5, 2021 /PRNewswire/ -- RDX and HMX are common constituents of military explosives. They are used for various purposes, prominently in the military sector. In the military sector, RDX and HMX are used in melt-cast explosives, nuclear devices, booster charges, rocket fuels, plastic explosives, and others. In civilian aspects, they are used in demolition blocks, fireworks, and others. The growing demand for these constituents in various civilian and military applications is expected to offer extensive growth opportunities to the RDX and HMX market during the forecast period of 2021-2031.

The rising need for defending national borders and safety concerns is leading many countries to increase their military equipment and materials. Government bodies of numerous countries are spending heavily on their military divisions to keep their borders secure. These factors are boosting the growth of the RDX and HMX market.

Transparency Market Research (TMR) has conducted an extensive research on various factors associated with the growth of the RDX and HMX market. The analysts at TMR predict the global market for RDX and HMX to expand at a CAGR of 3.8% during the forecast period. The global RDX and HMX market is prognosticated to reach US$ 22 Bn by 2031.

The rising demand for metals and minerals around the globe has led to an increase in the growth prospects of the RDX and HMX market. These explosive materials have vital applications in metal mining, quarrying, coal mining, and non-metal mining. An increase in the use of RDX and HMX explosive materials in coal mining applications may emerge as a vital growth contributor to the global market. These factors may have a profound impact on the expansion of the RDX and HMX market. Defense and mining sectorsare expected to grow at a rapid pace in the upcoming period. This may emerge as a massive growth-generating factor for the RDX and HMX market.

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Key Findings of Report

Expanding Applications of RDX and HMX in TNT

RDX and HMX are used for making military munitions. These explosive materials can be used with other explosives such as TNT to create cyclotrons. The cyclotrons develop bursting charges for aerial bombs, torpedoes, mines, or can also be used as a base charge for detonators. These factors are projected to increase the growth prospects of the RDX and HMX market.

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Rising Urbanization and Construction Activities to Drive RDX and HMX Market

Urbanization is increasing at a rapid rate across many regions. Due to rapid urbanization, construction activities are observing an uptick. The growing demand for infrastructure development in densely populated countries such as India and China coupled with an increase in infrastructure development will serve as growth factor for the RDX and HMX market. The spending on smart infrastructure due to global investments in the BRICS countries will also bolster the RDX and HMX market growth.

Some of the key players operating in the RDX and HMX market are Nuberg EPC, Ensign-Bickford Aerospace & Defense Company, Chemring Group PLC., PRVA ISKRA - NAMENSKA A.D., Austin Powder, REGENESIS, Dahana, and NITRO-CHEM S.A.

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RDX and HMX Market – Segmentation

By Application

• RDX
• Military
• Melt-cast Explosives
• Plastic Explosives
• Pyrotechnics
• Others
• Civilian
• Fireworks
• Demolition Blocks
• Others
• HMX
• Military
• Melt-cast Explosives
• Nuclear Devices
• Plastic Explosives
• Rocket Fuels
• Booster Charges
• Others
• Civilian
• Fireworks
• Demolition Blocks
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
• Turkic Region

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SOURCE Transparency Market Research