Published On : 19 Jul 2018
Chemicals are unique compound, which are produced by reactions. Chemical reactions changes their chemicals structures by changing atomic or molecular structures. Fireworks are chemicals manufactured by reactions. Fireworks are type of low explosive pyrotechnic devices mainly used for aesthetic and entertainment purposes. After combustion, it produces large of number of pollutants, which is leading to high restriction imposed from numerous governments.
Rapid Technological Advancements to boost Growth
Owing to the numerous restrictions imposed by governments, the market is experiencing sluggish growth from past few years. In order to gain such momentum again, the market has undergone substantial transformation thanks to the higher investment and adoption of new techniques to manufacture fireworks by avoiding harmful chemicals and accidents. For instance, the manufacturers are producing fireworks with low explosive material to reduce potential danger to human and animals as well. This is key factor driving growth of the global fireworks market. Additionally, from past few years, fireworks are mainly used for public displays for celebrations and inaugurations. Trend of this celebration with public displayers are driving growth of the global market.
Stringent regulations and rising awareness about environment has reduced preference for fireworks which is majorly hampering growth of the fireworks market. Nevertheless, smoke balls are type of fireworks and widening its applications in numerous sector such as agriculture for scaring birds is fuelling growth of the global fireworks market.
Adoption of Fireworks from Public Display to Boost Growth
The global fireworks market is segmented into type, application, and region. On the basis of application, the market is divided into government, company, individual, and other. Of these, government sector is witnessing high growth owing to adoption of fireworks for public display. Individual are gaining substantial share owing to usages of fireworks for celebrating personal and religious occasion especially from India.
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The market is segmented in to Europe, North America, Middle East & Africa, Asia Pacific, and Central & South America. Asia Pacific accounts for major share in the global fireworks market in 2016. Of these, China accounts for the larger share in the global market owing to more than 90% production in the region, followed by India.
The market is witnessing intense competition owing to presence of numerous players and pressure of producing innovative fireworks to gain a substantial share in the market. These players have facing fierce competition as the each of them is trying to improve product in terms offerings.
The major manufacturers operating in the fireworks market are Sri Kaliswari, Standard, Ajanta, Sony, Diamond Sparkler, Coronation, GROUPE F, Zhongzhou, Panda, Lidu, Liuyang, Jeeton, Qingtai, Bull, Guandu, Hekou, Dahu, Jinsheng Group, Sanlink Group, Dancing, Shenma, Fuxiang, Hefung, Shengding, Meaning, Shenghong, Kim TAE, Juntai, Shijihong, and Qianzi.
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