Large-Scale Mining Activities & Improving Infrastructure Activities Drive the Global Market for Explosives

The global market for Explosives is projected to reach 30 million metric tons by 2024, driven by large-scale mining activities, improving infrastructure activity and construction projects, rising steel production in developing countries, and improving defence orders for ammunition products.

Explosive is a blended chemical substance that experiences quick change on reacting with host of external elements including friction, high temperature, impact, or shock. About 75% of the explosives production is consumed in mining operations alone, followed by manufacturing and construction. Global industrialization and high prices of alternative energy sources have driven demand for thermal coal, which in turn has also bolstered the worldwide explosives market in recent years. Heightened government initiatives towards mineral exploration projects are further expected to fuel the market for explosives the world over. While the market has entered a stabilization phase in some countries, it is picking up momentum in other economies with availability of extensive mineral deposits for excavation and rebound in construction and quarrying activity. Developing countries are expected to provide momentum for explosives’ sales in the next few years. Countries in the Pacific Rim and Latin America, where penetration levels are low despite rich metal and coal reserves, offer tremendous scope for explosives. Mining industry’s growth across Africa is a major boost for explosives consumption in the region.

Future growth of the market is anticipated to be propelled by increasing use of dynamite as the igniting agent and ammonium nitrate fuel oil as an effective blasting agent. The use of explosives in place of mechanical drills reduces mineral loss as explosives are used on upper surface while mechanical drilling penetrates through mineral-rich rocks. Advanced technology not only reduces mineral loss, but also controls smashing rock density. The mining explosives market is also experiencing increasing use of electronic detonators, which is attributed to their enhanced vibration control. However, maturity of various mines along with implementation of tough regulations regarding toxic explosives is anticipated to hamper overall expansion of the explosives market in the coming years. Development of new coal mining techniques using low explosive-intensive methods are expected to adversely impact use in the coal-mining sector.

As stated by the new market research report on Explosives, China represents the largest market worldwide. China also ranks as the fastest growing market with a CAGR of 6.6% over the analysis period driven by infrastructure development and mining activities. Despite speculations hovering around a slowdown in the Chinese economy, the country would continue to occupy a center stage in the global mining industry, amidst bustling activity and staggering capital expenditures. Countries in the Pacific Rim and Latin America, where penetration levels are low despite rich metal and coal reserves, offer tremendous scope for growth.

Key players in the market include AEL Mining Services, Austin Powder Company, Chemring Group PLC, Enaex, EPC Groupe, EPC-UK, Hanwha Corp., Incitec Pivot Ltd., Dyno Nobel, MAXAMCorp Holding, S.L., NOF Corp., Orica Ltd., Solar Group, and TITANOBEL SAS, among others.

The research report titled “Explosives - Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections in Metric Tons for geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, India, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico, and Rest of Latin America). Product segments analyzed include Blasting Agents, and Other Explosives. The US market is also analysed by end-use application areas – Mining (Coal, Mineral, and Metal), Construction, and Others. The report also provides value analytics in US$ million for major geographic markets.

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