Global RDX (Cyclonite) and HMX (Octogen) Market 2026 by Manufacturers, Regions, Type and Application, Forecast to 2032

According to our (Global Info Research) latest study, the global RDX (Cyclonite) and HMX (Octogen) market size was valued at US$ 2340 million in 2025 and is forecast to a readjusted size of US$ 3929 million by 2032 with a CAGR of 6.4% during review period.
In 2025, global production of RDX (Cyclonite) and HMX (Octogen) reached 28,565 metric tons. The global average market price was approximately USD 79.62 per kilogram, with total production capacity of about 33,100 metric tons. The industry’s average gross margin was 31.32%.
Energetic materials refer to chemical compositions that are capable of sustaining themselves and undergoing rapid exothermic chemical reactions under certain external stimuli. They typically include propellants, explosives, and pyrotechnic compositions. To date, the development of energetic materials can be broadly divided into four generations. The first generation is marked by the synthesis of trinitrotoluene (TNT) in 1863, after which “TNT equivalence” became a widely used standard for measuring explosive performance and the destructive power of warheads. The second generation is represented by RDX (Cyclonite) and HMX (Octogen), whose volumetric chemical energy is approximately 1.4–1.6 times that of TNT. The third generation, represented by materials such as CL-20 and DNTF, further increases volumetric chemical energy to about 1.7–1.9 times that of TNT. The fourth generation is mainly composed of synthetically prepared ionic polynitrogen compounds, covalent polynitrogen compounds, and associated new oxidizers, reflecting a trend toward higher energy density and more systematized development. The focus of this report is on RDX (Cyclonite) and HMX (Octogen).
Key upstream raw materials include concentrated nitric acid and hexamethylenetetramine (urotropine).
Major upstream suppliers include LSB Industries, Dyno Nobel, Metafrax, Shchekinoazot JSC, INEOS, Caldic, Hexion, and Metafrax.
Downstream customers include Diehl Defence, SAAB Switzerland, Rheinmetall, AECI, STV, Maxam, and Orica.
As representative high-energy explosive materials, RDX (Cyclonite) and HMX (Octogen) have long seen their core demand supported by the defense and military sectors. Globally, the continued advancement of military modernization has sustained rigid growth in demand for high-energy, high-stability explosive materials used in advanced munitions, missile systems, and rocket propulsion systems. At the same time, some emerging economies are increasing defense spending, driving expansion across related military-industrial supply chains and leading to a structural rise in regional demand for such products. In addition, progress in production processes and material modification technologies has improved safety and controllability while also broadening application boundaries, further reinforcing the underlying demand base.
The RDX and HMX market is significantly constrained by a highly regulated environment. Due to their sensitive nature, production, storage, transportation, and trade must comply with stringent safety and regulatory requirements. Complex approval processes and high operational barriers limit the number of new entrants into the industry. Moreover, production activities require substantial and ongoing investment in safety management and environmental protection to meet regulatory standards, which to some extent compresses profit margins. Changes in the global geopolitical landscape and controls on military goods trade may also cause periodic fluctuations in international supply–demand dynamics.
Overall, the market exhibits a development trajectory characterized by “steady progress with incremental growth.” While traditional military applications continue to dominate, usage in niche areas such as aerospace propulsion, specialized engineering, and scientific research and testing is gradually increasing, helping to diversify demand and mitigate risks associated with reliance on a single application scenario. Meanwhile, growing emphasis by countries on self-sufficiency and controllability in critical defense materials is driving the construction of local production capacity and technological substitution. As a result, the global supply landscape is evolving from high concentration toward a more regionally coordinated structure.
The RDX and HMX market demonstrates long-term persistence and strong strategic attributes. Although its growth pace is constrained by policy and safety considerations, rigid defense demand, technological upgrading, and regional market expansion together support a stable overall outlook. Future competition within the industry is expected to focus more on production safety standards, quality consistency, cost control capabilities, and the depth of integration with downstream defense systems. Market share is likely to become increasingly concentrated among companies with comprehensive capabilities and regulatory compliance advantages.
Against the backdrop of an increasingly complex and volatile international environment, the strategic value of the RDX and HMX market has been further amplified. On one hand, intensifying strategic competition among major powers has led countries to continuously enhance military capabilities to address uncertainty and risk, particularly in regions such as the Asia-Pacific and Europe where security dynamics are changing markedly and rising defense budgets have become the norm. As fundamental materials for high-energy explosives, RDX and HMX therefore enjoy solid demand support and have become indispensable components of military modernization worldwide.
Heightened geopolitical tensions and escalating security concerns have elevated the priority of building autonomous defense supply chains, prompting major military powers to accelerate the deployment of domestic high-energy material production capabilities. Traditional producing countries must not only meet their own military requirements but also face higher standards related to export controls and supply security. Emerging military powers and regional players, meanwhile, are seeking to reduce external dependence through capacity expansion and increased investment in R&D. This trend not only underpins long-term, steady growth in global demand, but also drives industry competition to shift from a focus on sheer output toward technological quality, supply reliability, and safety and controllability.
This report is a detailed and comprehensive analysis for global RDX (Cyclonite) and HMX (Octogen) market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global RDX (Cyclonite) and HMX (Octogen) market size and forecasts, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Kg), 2021-2032
Global RDX (Cyclonite) and HMX (Octogen) market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Kg), 2021-2032
Global RDX (Cyclonite) and HMX (Octogen) market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Kg), 2021-2032
Global RDX (Cyclonite) and HMX (Octogen) market shares of main players, shipments in revenue ($ Million), sales quantity (Tons), and ASP (US$/Kg), 2021-2026
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for RDX (Cyclonite) and HMX (Octogen)
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global RDX (Cyclonite) and HMX (Octogen) market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include BAE System, Ya. M. Sverdlov State Owned Enterprise, China North Chemical Research Institute, Eurenco, Chemring, Jiangsu Hongguang Chemical, PRVA ISKRA-NAMENSKA, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
RDX (Cyclonite) and HMX (Octogen) market is split by Type and by Application. For the period 2021-2032, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
HMX (Octogen)
RDX (Cyclonite)
Market segment by Crystal Form
α Form
β Form
Others
Market segment by Application
Military
Civilian
Major players covered
BAE System
Ya. M. Sverdlov State Owned Enterprise
China North Chemical Research Institute
Eurenco
Chemring
Jiangsu Hongguang Chemical
PRVA ISKRA-NAMENSKA
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe RDX (Cyclonite) and HMX (Octogen) product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of RDX (Cyclonite) and HMX (Octogen), with price, sales quantity, revenue, and global market share of RDX (Cyclonite) and HMX (Octogen) from 2021 to 2026.
Chapter 3, the RDX (Cyclonite) and HMX (Octogen) competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the RDX (Cyclonite) and HMX (Octogen) breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2021 to 2032.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2021 to 2032.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2021 to 2026.and RDX (Cyclonite) and HMX (Octogen) market forecast, by regions, by Type, and by Application, with sales and revenue, from 2027 to 2032.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of RDX (Cyclonite) and HMX (Octogen).
Chapter 14 and 15, to describe RDX (Cyclonite) and HMX (Octogen) sales channel, distributors, customers, research findings and conclusion.