트리니트로톨루엔(TNT) 시장 : 시장 점유율 분석, 산업 동향 및 통계, 성장 예측(2024-2029년)

The Trinitrotoluene Market size is estimated at 29.11 kilotons in 2024, and is expected to reach 35.80 kilotons by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).

The COVID-19 pandemic led to delays and halts across multiple projects in different countries worldwide in 2020. This simultaneously affected the demand for TNT and led to a decline on a global scale. However, in 2021, the demand for TNT began to recover due to global initiatives for economic recovery.

Key Highlights

• One of the main factors driving the market is the increasing defense activities by various governments worldwide.
• On the other hand, the focus on alternative products is expected to hinder the market's growth.
• Increasing the use of explosives in the fracturing of shale formations to extract oil and gas is likely to act as an opportunity for market growth in the coming years.
• Asia-Pacific dominated the global market, with China and India registering the most significant consumption.

Trinitrotoluene (TNT) Market Trends

Various Governments are Increasing Their Defense Activities

• Trinitrotoluene (TNT) is relatively insensitive to shock. It cannot explode without a detonator, which makes it a widely used explosive chemical around the world by various industries, such as military, mining, and construction.
• Increased spending on defense activities by global government bodies and the growing arms and ammunition sector will likely spur the explosives and pyrotechnics industry. Countries such as India, the United States, and China have also increased their overall spending on arms and ammunition to strengthen their armed forces. In addition, technological advancements and the need for smart weapons will propel the explosive and pyrotechnics industry.
• As per the Fiscal 2023 National Defense Authorization Act, the US government allotted USD 816.7 billion to the country's Defense Department. The Department of Air Force had proposed a budget request of USD 194 billion for 2023, a USD 20.2 billion or 11.7% increase from the 2022 budget request.
• The Chinese government's defense budget was USD 224.8 billion in 2023, a nominal year-on-year increase of 7.2% compared to 2022.
• The need for safer explosives to replace highly energetic explosives and propellants to meet safety needs is prompting the manufacturers of military and defense equipment to use 2,4,6-trinitrotoluene on a large scale. Due to the increase in national security and the rise in terrorist-related activities, the defense industry is likely to witness an increase in the usage of trinitrotoluene during the forecast period.

Asia-Pacific is Expected to Dominate the Market

• Asia-Pacific is expected to dominate the market for TNT during the forecast period. Rising demand for TNT explosives in defense activities in countries like China, India, and Japan is expected to drive the market in this region.
• Increasing investments by countries in the Asia-Pacific region, like India and China, for national security to combat growing terrorist-related activities will contribute to the growth of the trinitrotoluene market. Trinitrotoluene is also used as explosives by the mining and construction industries, as well as for other miscellaneous applications.
• The global consumption of trinitrotoluene as explosives by the metal mining industry is projected to increase during the forecast period, as metallic minerals are generally low-grade ores found only in geologically favorable areas of the world.
• Consumption of explosives in quarrying materials is estimated to increase in various Asia-Pacific countries, like China and India. The production of stone for construction and the production of cement from quarrying operations accounted for an additional 16% of the global mining market for explosives.
• The highest growth is expected to be registered in the Asia-Pacific region, owing to China and India's expanding housing construction markets. These two countries are expected to represent over 43% of the global middle-income group by 2030. China has the largest construction market in the world, comprising 20% of all construction investments globally. China is expected to spend nearly USD 13 trillion on buildings by 2030, creating a positive market outlook for the trinitrotoluene market. Additionally, regarding long-term plans, the Chinese government expected to have 162,000 km of expressways by 2035.
• In 2022, China's Ministry of Finance and National Development set up a state infrastructure investment fund worth around USD 75 billion to spur infrastructure spending and revive a flagging economy. Owing to the above-mentioned factors, the market for TNT in the Asia-Pacific region is projected to experience positive growth during the forecast period.

Trinitrotoluene (TNT) Industry Overview

The trinitrotoluene (TNT) market is consolidated in nature, with only a few major players dominating the market. Some of the major companies include Orica Limited, Maxamcorp, Axamcorp Holding, Dyno Nobel, Nitro-Chemca-CHEM SA, and Enaex.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

• 4.1 Drivers
  • 4.1.1 Increasing Demand for Explosives in the Mining Industry
  • 4.1.2 Increasing Defence Activities by Various Government
• 4.2 Restraints
  • 4.2.1 Shifting Focus Toward Other Alternative Products
  • 4.2.2 Other Restraints
• 4.3 Industry Value Chain Analysis
• 4.4 Porter's Five Forces Analysis
  • 4.4.1 Threat of New Entrants
  • 4.4.2 Bargaining Power of Buyers
  • 4.4.3 Bargaining Power of Suppliers
  • 4.4.4 Threat of Substitute Products
  • 4.4.5 Degree of Competition

5 MARKET SEGMENTATION (Market Size in Volume)

• 5.1 Application
  • 5.1.1 Military
  • 5.1.2 Mining
  • 5.1.3 Construction
  • 5.1.4 Other Applications
• 5.2 Geography
  • 5.2.1 Asia-Pacific
    • 5.2.1.1 China
    • 5.2.1.2 India
    • 5.2.1.3 Japan
    • 5.2.1.4 South Korea
    • 5.2.1.5 Thailand
    • 5.2.1.6 Malaysia
    • 5.2.1.7 Vietnam
    • 5.2.1.8 Indonesia
    • 5.2.1.9 Rest of Asia-Pacific
  • 5.2.2 North America
    • 5.2.2.1 United States
    • 5.2.2.2 Canada
    • 5.2.2.3 Mexico
  • 5.2.3 Europe
    • 5.2.3.1 Germany
    • 5.2.3.2 United Kingdom
    • 5.2.3.3 France
    • 5.2.3.4 Italy
    • 5.2.3.5 Russia
    • 5.2.3.6 Spain
    • 5.2.3.7 Turkey
    • 5.2.3.8 Nordic Countries
    • 5.2.3.9 Rest of Europe
  • 5.2.4 South America
    • 5.2.4.1 Brazil
    • 5.2.4.2 Argentina
    • 5.2.4.3 Colombia
    • 5.2.4.4 Rest of South America
  • 5.2.5 Middle East and Africa
    • 5.2.5.1 Saudi Arabia
    • 5.2.5.2 South Africa
    • 5.2.5.3 Nigeria
    • 5.2.5.4 Qatar
    • 5.2.5.5 Egypt
    • 5.2.5.6 United Arab Emirates
    • 5.2.5.7 Rest of Middle East and Africa

6 COMPETITIVE LANDSCAPE

• 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
• 6.2 Market Share (%)**/Ranking Analysis
• 6.3 Strategies Adopted by Leading Players
• 6.4 Company Profiles
  • 6.4.1 Austin Powder
  • 6.4.2 BME Mining (Omnia Group)
  • 6.4.3 China Gezhouba (Group) Corporation
  • 6.4.4 China Poly Group Corporation
  • 6.4.5 Dyno Nobel
  • 6.4.6 Enaex
  • 6.4.7 MAXAMCORP HOLDING SL
  • 6.4.8 NITRO-CHEM SA
  • 6.4.9 NOF CORPORATION
  • 6.4.10 Orica Limited
  • 6.4.11 Solar Industries India Limited
  • 6.4.12 Sichuan Yahua Industrial Group Co. Ltd

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

• 7.1 Use of TNT in Fracturing of Shale Formation to Recover Oil and Gas