Global Propellants market was valued at US$ 13,579.9 Million in 2023 and is projected to reach US$ 20,819.2 Million by 2030, at a CAGR of 5.84%

PUNE, MAHARASHTRA, INDIA, February 18, 2024 /EINPresswire.com/ -- The global Propellants market was valued at US$ 13,579.9 Million in 2023 and is projected to reach US$ 20,819.2 Million by 2030, at a CAGR of 5.84% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

The fuel segment emerges as the largest application segment, poised to dominate the green methanol market throughout the forecast period from 2024 to 2032. This dominance is particularly pronounced within the maritime industry, propelled by stringent regulations and an escalating emphasis on decarbonization efforts. The International Maritime Organization (IMO) has set ambitious targets for reducing carbon emissions in international shipping, aiming for a 40% reduction by 2030 and a 70% reduction by 2050, relative to 2008 levels.

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North America has been the largest regional market, growing at a CAGR of 4.89% and accounting for over 30% of the total market in 2030.

The Asia Pacific region has seen the fastest growth of 5.70% CAGR during this period, driven by China and India's booming space programs.

United States is a prominent supplier of propellants to other countries, further bolstering the growth of the market in North America. With its advanced technological capabilities and robust manufacturing infrastructure, the US is well-positioned to meet the propellant requirements of international partners, enhancing its role as a key player in the global propellant market

Propellants are materials that produce thrust or propulsion for various applications, such as space exploration, military, and industrial uses. They provide the force necessary to move objects through the air, water, or space. Propellants come in various forms, including gases, liquids, and solids, each offering different characteristics and uses.

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This report aims to provide a comprehensive presentation of the global market for Propellants, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Propellants.

This report contains market size and forecasts of Propellants in global, including the following market information:
➡️Global Propellants Market Revenue, 2018-2023, 2024-2032, ($ millions)
➡️Global Propellants Market Sales, 2018-2023, 2024-2032, (K MT)
➡️Global top five Propellants companies in 2023 (%)

The global key manufacturers of Propellants include Explosia, Pakistan Ordnance Factories, Australian Munitions, Eurenco, General Dynamics, MAXAM Corp, Rheinmetall Defence, BAE Systems and Forcit, etc. in 2023, the global top five players have a share approximately % in terms of revenue.

We surveyed the Propellants manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global PROPELLANTS market, by Type, 2018-2024, 2025-2030 ($ millions) & (K MT)
Global PROPELLANTS market segment percentages, by Type, 2023 (%)
➡️Liquid Propellant
➡️Solid Propellant

Global PROPELLANTS market, by Components, 2018-2024, 2025-2030 ($ Millions) & (K MT)
Global PROPELLANTS market segment percentages, by Components, 2023 (%)
➡️Fuels
➡️Oxidizers
➡️Binders and Additives

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Global PROPELLANTS market, by Application, 2018-2024, 2025-2030 ($ Millions) & (K MT)
Global PROPELLANTS market segment percentages, by Application, 2023 (%)
➡️Aerospace
➡️Defense

Global Propellants Market, By Region and Country, 2018-2024, 2025-2032 ($ Millions) & (K MT)
Global Propellants Market Segment Percentages, By Region and Country, 2023 (%)

➡️North America (United States, Canada, Mexico)
➡️Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
➡️Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
➡️The Middle East and Africa (Middle East, Africa)
➡️South and Central America (Brazil, Argentina, Rest of SCA)

In India, the government's focus on indigenous defense production and modernization initiatives has led to increased investments in aerospace and defense research, development, and manufacturing capabilities. The country's ambitious space program and growing defense expenditure have created opportunities for propellant manufacturers to cater to the needs of both civilian and military applications. In recent years, the commercial aviation industry has experienced a surge in activity, driven by an increase in air traffic and a growing preference for air travel among passengers. This upward trend has been particularly pronounced in India, where passenger traffic has expanded rapidly, averaging over 15 percent growth annually over the past five years. Consequently, the number of passengers utilizing domestic and international air travel has risen from approximately 70 million to 200 million over the past decade.

In the defense sector, China invests in the development of missile systems, rockets, and other military technologies that rely on propellants for propulsion. The country's defense industry works closely with government agencies to enhance national security capabilities and maintain a strong defense posture, driving demand for propellants in defense applications.

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Competitor Analysis
The report also provides analysis of leading market participants including:
➡️Key companies Propellants revenues in global market, 2018-2024 (Estimated), ($ millions)
➡️Key companies Propellants revenues share in global market, 2023 (%)
➡️Key companies Propellants sales in global market, 2018-2024 (Estimated), (K MT)
➡️Key companies Propellants sales share in global market, 2023 (%)

key players include:
➡️Explosia
➡️Pakistan Ordnance Factories
➡️Australian Munitions
➡️Eurenco
➡️General Dynamics
➡️MAXAM Corp
➡️Rheinmetall Defence
➡️BAE Systems
➡️Forcit
➡️Solar Group
➡️Serbian defence industrial facilities
➡️NITRO-CHEM
➡️Poongsan Defense
➡️Liming Research Institute of
➡️Chemical Industry
➡️China North Industries
➡️Corporation (NORINCO)
➡️Explosia
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