This research explores the deformation characteristics, pressure-density distribution patterns, and key influencing factors of explosive powder in the compression molding process. First, a theoretical analysis was carried out on the pressure distribution during molding, and a mathematical model for the compression process was further deduced. Subsequently, by utilizing ANSYS APDL software, a random packing model that integrates the particle size distribution of explosive powder was constructed. Relying on the principles of continuum mechanics and finite element analysis methods, the study examined the laws governing pressure and density distribution of explosive columns under dynamic compression conditions. The findings indicate that the established model can effectively simulate the actual pressing process of explosive powder. This effectiveness was verified through pressure-density curves as well as pressure distribution data obtained under compression scenarios. Specifically, pressure propagates from the upper and lower punches toward the center of the explosive column, showing a gradual decreasing trend during the propagation process. In terms of axial density distribution, the regions near the punch ends exhibit higher density values, while the density in the central area of the explosive column changes minimally. Overall, the proposed model offers a reliable analytical tool for optimizing process parameters in explosive powder compression molding and accurately predicting the forming density of the final product.