SAN FRANCISCO, November 1, 2016 /PRNewswire/ --
The global explosives market is expected to reach USD 31.95 billion by 2024, 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.
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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 2013, Asia Pacific contributed to approximately 44% of the total global construction spending, an increase of 4% from the previous year. Also, the development of new construction and building projects in Asia is likely to boost market growth. The demand for explosives in the region is expected to be 14.93 million tons by 2024.
Browse full research report with TOC on "Explosives Market Analysis By Product (Blasting Agents, Propellants, Pyrotechnics), By Application and Pyrotechnics Market Analysis By Application (Proximate Pyrotechnics, Consumer Pyrotechnics, Display Pyrotechnics) And Segment Forecasts, 2013 - 2024" at: http://www.grandviewresearch.com/industry-analysis/explosives-pyrotechnics-market
Further key findings from the report suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the global explosives & pyrotechnics market on the basis of product, application and region:
Access research Insight - http://www.grandviewresearch.com/research-insights/explosives-pyrotechnics-market-insights-mining-activities-drive-demand
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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