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The increasing number of infrastructure development projects in developing countries is expected to drive demand for Pyrotechnic Chemicals Market

HYDERABAD, TELANGANA, INDIA, November 16, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Pyrotechnic Chemicals Market size is estimated to reach more than US$2.8 billion by 2027, after growing at a CAGR of 4.2% during the forecast period 2022-2027. A pyrotechnic composition is a substance or mixture of substances such as calcium nitrate, cinnamic acid, potassium chlorate, potassium nitrate and others that produce an effect through heat, light, sound, gas, or a combination of these as a result of non-detonative self-sustaining exothermic chemical reactions. The industry is expected to grow significantly over the forecast period due to increased use of the product in construction and mining activities. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Report/17869/pyrotechnic-chemicals-market.html

Key takeaways:

This IndustryARC report on the Pyrotechnic Chemicals Market highlights the following areas -

1. Asia-Pacific dominates the Pyrotechnic Chemicals Market size. The increase in demand from applications such as fireworks, oxygen candles and others, is the main factor driving the region's growth.

2. One of the primary factors contributing to the Pyrotechnic Chemicals Market's favorable outlook is significant growth in the automotive industry around the world.

3. The flourishing building and construction industry is boosting the demand for Pyrotechnic Chemicals for applications, thereby driving the Pyrotechnic Chemicals industry.

4. However, Health Hazards related to Pyrotechnic Chemicals are limiting the Pyrotechnic Chemicals Market growth.

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Segmental Analysis:

1. The Fireworks held a significant share in the Pyrotechnic Chemicals Market share in 2021 and is projected to grow at a CAGR of 4.5% during the forecast period 2022-2027. Pyrotechnic chemicals such as calcium nitrate, cinnamic acid, potassium chlorate and others are used to make fireworks.

2. The Asia-Pacific held a significant share in the Pyrotechnic Chemicals Market share in 2021 up to 38.9%. The flourishing growth of pyrotechnic chemicals is influenced by its major applications across major industries, along with growing development in automotive production and developing the base for pyrotechnic chemicals in APAC.

3. Automotive held a significant share in the Pyrotechnic Chemicals Market share in 2021 and is projected to grow at a CAGR of 4.9% during the forecast period 2022-2027. Pyrotechnics chemicals are used in a variety of automotive applications, including airbags and belt pretensioners.

Competitive Landscape:

The top 5 players in the Pyrotechnic Chemicals Industry are -

1. Solar Industries India
2. Melrose Pyrotechnics
3. Zambelli Fireworks
4. Pyro Company Fireworks
5. Angelfire Pyrotechnics

Click on the following link to buy the Pyrotechnic Chemicals Market Report:
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