The New Oil of Artillery: The Global Explosives Market in 2026
An OSINT long-read on the global market for explosives and energetic materials: why the bottleneck is not money or demand but certified upstream throughput. A historical lens (the 1915 Shell Crisis), the theory of a market that breaks the normal rules, throughput math, supply chains, country playbooks, capacity, a financial lens and scenarios to 2030. No manufacturing instructions — strategy, economics and policy only.