Dynamite Market Trends 2018 Global Prominent Players - Hanwha Corp., Incitec Pivot, Pakistan Ordnance Factory, EPC Groupe, Nitroerg SA, Solar Industries India Ltd, China Poly Group Corporation, BME, NOF Corporation, and Ideal Industrial Explosives Ltd

Synopsis of Global Dynamite Market

Dynamite also knew as explosive, which is a mixture of a chemical compound that contains a large amount of potential energy that can explode under high heat and pressure. The speed at which dynamite explodes is divided into two forms such as detonate (high explosives) and deflagrate (low explosives). High explosives are further divided into primary and secondary explosives. Nitro-glycerine, trinitrotoluene (TNT), RDX, and ammonium nitrate fuel oil (ANFO) are some examples of secondary high explosives. Whereas, various types of low explosives include black powder and flash powder tend to deflagrate and does not generate shock waves. High explosives are dominating the market due to rising demand for ANFO and emulsion explosives in defense and quarrying application. Based on the different types of explosives, ANFO is gaining share over other explosives owing to most cost-efficient blasting agent and easy availability of raw material, ammonium nitrate. However, bulk explosives held the largest share 47.20% of the global market in 2016, which is anticipated to remain the same over the forecast period.

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According to MRFR analysis, the Global Dynamite Market is estimated to reach USD 17,973.7 million by 2023. Some of the protuberant factors and trends fostering the growth of the global explosives market includes growing demand from the coal industry along with rising development in construction activities. Furthermore, rising demand for reconstruction of the old building is also expected to augment the market growth. Also, the trends witnessed includes growing investment activities across explosives industries for economic development of the country are providing lucrative opportunities to manufacturers of explosives. Moreover, improving defense sector for homeland security and counterterrorism strategies coupled with building fleet of ships and submarines are likely to boost the demand for explosives in the market. However, stringent regulations and workplace health concern of workers can hinder the further market growth.

Segmentation

The Global Dynamite Market is segmented on the basis Grade, Type, Application, and Region.

On the Basis of the Grade, the market is divided into high and low explosives.

By the Type, the market is segmented into bulk explosives, cartridge explosives, ANFO, nitroglycerine, and others.

Based on the Application, explosives are used in mining, construction, quarry, defense, and others.

Geographically, the Global Dynamite Market is spanned across Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Regional Analysis

The Asia Pacific region holds growth potential for Dynamite Market and is slated to register a CAGR of 6.05% to reach USD 8,298.4 million by 2023. This is attributed to favorable government policies, availability of resources, and strong production base facility for prominent manufacturers. Rich mineral deposits and large gas reserves in and around China, India, and Australia are propelling the growth of the Explosives Market. Mining and construction continue to account for over 50% of FDI stock in Australia by value. Rapid industrialization and urbanization in emerging economies like China and India have led to significant growth in energy demand. For instance, China energy production rises by 38%, and consumption grows by 47% during 2015-2035, thereby China remains world’s largest consumer of coal. Additionally, China transition to less intensive products for power generation and subsequent increase in a coal-fired thermal power plant is also expected to spur the demand for explosives in coal mining in this country. However, Dynamite Market has reached the phase of stabilization in few countries, but it is taking momentum in emerging economies.

North America is anticipated to witness a CAGR of 5.69% in the Global Explosives Market over the forecast period. Growth in infrastructure activities to facilitate easy transportation coupled with the rehabilitation of old building by using explosives is expected to drive investment for economic development projects. The U.S. explosives market was accounted for 62.70% share by value in 2017. Government initiatives along with widening application scope of explosives such as digging tunnel and highway road construction are anticipated to augment the market growth. For instance, the government of Mexico anticipated approximately USD 517 billion in communication, urban and rural development, and energy and tourism infrastructure investment under multi-year National Infrastructure Program. Europe holds a considerable market share owing to the presence of leading players in the region and growth of mining activities, which is followed by the Middle East & Africa.

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