Future Market Insights
Rocket propellants are chemical mixtures used to produce thrust in rockets. Generally, rocket propellants are made by the mixture of different fuels, oxidizers and chemicals, which during chemical reaction, creates a huge amount of gases and thus propels the rocket. Considerable developments have taken place in the rocket propellant chemicals market, which have made the rocket propulsion technology extremely powerful and have enabled the launching of various orbiting satellites, missiles, spacecraft and interplanetary space missions a commercial as well as technological success. Based on the requirement, single or multiple propellants can be used for propelling a rocket.
Basically, four types of propellants are used in rockets i.e. solid, liquid, gas and hybrid, which utilize different mixtures of rocket propellant chemicals based on the custom need and availability of technology. Each propellant type has its own advantages and disadvantages. The solid propellants can be stored in compact size and are usually composed of various rocket propellant chemicals such as ammonium nitrate, potassium nitrate, etc. Mixture of liquid rocket propellant chemicals provide higher specific impulse when compared with the solid rocket propellant chemicals, however, they require additional valves, combustion chambers, which often lead to increased rocket system cost. Gas rocket propellant chemicals are usually compressed gases and are readily available at relatively low cost, however, their utilization is lesser as compared to the solid and liquid rocket propellant chemicals in the global market. Hybrid propellants generally include a solid fuel while the oxidizer is usually a liquid or gas. Although the hybrid propellants are relatively low in costs and can be shut down easily, they are more complex and their utilization become hard when a very large thrust is required.
The developments in the rocket propellant technology and multifarious advances in the space sciences have made the space probes, including the interplanetary missions, such as, India’s Mars Orbiters mission extremely cost effective, and such missions are becoming more frequent than ever in the recorded history. Owing to the ever increasing growth in the space technology and rocket sciences, the market for rocket propellant chemicals is also expected to gain traction over the coming years and is expected to register significant growth rate over the forecast period of 2017 – 2027.
Rocket Propellant Chemicals Market: Dynamics
The space industry is becoming more dynamic than ever and the reach of this technology is not limited to the U.S., Russia and some European countries, as it was earlier. Even developing countries are exhibiting phenomenal growth in the space technology and the industry is growing as truly international. Unlike before, private companies are also investing enthusiastically in the space industry and the market is growing more and more competitive each year. Various research labs and institutes are also focused on the development of advanced rocket propellants and rocket propellant chemicals, which offer high performance, efficiency and safety. Rocket propellant systems in which the fuel and oxidizer are put separately, are also being developed for commercial scale, which offer excellent safety features with scaled up performance. Apart from this, the effective utilization of advanced rocket propellant chemicals is also coming into picture as a result of the dedicated research of scientists from across the world.
Extensive research and development in the rocket propellants industry is garnering a new era of next generation rocket propellant chemicals. With the United States’ independent space agency – NASA – completing its first round of tests over the use of green rocket propellants and rocket propellant chemicals, the dynamics of global rocket propellant chemicals industry has already started approaching transformation. With considerable developments and funds rolling in from multiple investment forums, the space travel seems to be no more a distant dream, and the right rocket propellant chemicals system is expected to bring this dream closer to reality by providing cost effective and efficient propulsion to the rockets.
Rocket Propellant Chemicals Market: Segmentation
Different types of rocket propellant chemicals are used based on the requirement. The global rocket propellant chemicals market can be segmented on the basis of chemical type and region. On the basis of chemical type, the market can be segmented as the following:
Hydrogen Peroxide, etc.
Among all regions, countries such as the U.S., China, Russian Federation, Japan, United Kingdom, India and Germany are getting more active in space programs and orbital launches. The market share of these regions in the global rocket propellant chemicals market is substantially higher when compared to the other regions of the world. With developing countries such as India, emerging as a giant in the space industry, other countries are also expected to follow the same growth path as a result of the domino effect, in turn creating a significant demand for rocket propellant chemicals over the coming years.
Rocket Propellant Chemicals Market: Market Participants
Examples of some of the players identified across the value chain of rocket propellant chemicals market include – Island Pyrochemical Industries, Yongzhou City Lingling Sanxiang Electrochemical Co., Ltd., AMPAC Fine Chemicals, CRS Chemicals and Mil-Spec Industries Corp., among others.
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