Global Trinitrotoluene Market Report 2019: Market Expected To Reach USD 533.7 MN By 2026
Posted On December 03, 2019
As per the report published recently by Value Market Research, the Global Trinitrotoluene Market had a market value close to USD 405.6 MN in 2019 and is anticipated to touch USD 533.7 MN by 2026 with a CAGR of 4% within the forecasted period from 2019 to 2026. The global trinitrotoluene market is expected to grow in the upcoming years owing to the expansion of the defense industry for ammunition products and the need for national security. Besides, the constant innovation in explosive technologies and the rise in focus on performance testing of explosives is projected to raise the project demand. Also, the need to replace high energetic explosives and propellants to meet safety needs is propelling the usage of trinitrotoluene on a large scale. The growing application of TNT as an explosive in the military munition, mining and in a deep well and underwater blasting are the key factors driving the growth of the global trinitrotoluene market.
Trinitrotoluene or TNT is also referred to as 2-methyl-1,3,5-trinitrobenzene is a chemical compound with the formula C6H2(NO2)3CH3. It is yellow in color and is used as a reagent in many chemical syntheses. It easily melts at reasonably low temperature thus making it easy to pour into shells and bombs. It is widely used as an explosive material with convenient handling properties. The explosive yield of this compound is considered to be the standard measure of bombs and the power of explosives. It does not explode spontaneously as compared to other explosives as it has to be detonated using a pressure wave from another explosive called a detonator.
The report “Global Trinitrotoluene Market Report By Product (Military Grade And Industrial Grade), Application (Military, Mining, Demolition, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2019-2026” covers a detailed description of the market analysis, market dynamics and the competitive landscape of the global trinitrotoluene market.
By product, military-grade and industrial-grade are the classifications provided in the report for the global trinitrotoluene market where the military-grade has dominated the segment owing to an increase in the expenditure on military and national security by the government to ensure safety. The ongoing R&D for the development of more efficient explosion technologies is fueling the segment growth. By application, military, mining and demolition are the segments of the global trinitrotoluene market. The military has led this segment and accounted for maximum market share owing to the increased threat of terror attacks and an increase in investments for defense and military.
North America, Europe, Asia Pacific, Latin America and Middle East & Africa are the geographical segments of the global trinitrotoluene market where Asia-Pacific has dominated the market owing to the increase in the defense budget due to rising terror attacks and war conditions.
The Report Segments Global Trinitrotoluene Market -
- Military Grade
- Industrial Grade
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Accurate Energetic Systems, LLC, AEL, AUSTIN Powder, BME - Omnia Holdings Limited, Eurenco, Hangzhou Dayangchem Co.Ltd., Hunan Nanling Civilian Blasting Equipment Inc. , MAXAM, Mil Spec Industries Corporation, Nitro-Chem, POLY TECHNOLOGIES INC., Prva Iskra - Namenska, Solar Explosives, and Zarya Ltd
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