Industrial Explosives Market : Metal Mining Sector to be the Largest Consumer During the Forecast Period 2016 - 2022

Industrial explosives are used in activities such as mining, construction, and quarrying. They can blast larger amount of land than other mechanical drills deployed for the same task. Industrial explosives, for example, ANFO, is formed by mixing 96% ammonium nitrate with 6% fuel oil (used in their initiation) to achieve certain properties in the end product.

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Industrial explosives market is indirectly related to the GDP of various countries of Latin America due to their widespread application in mining, earthmoving and construction activities. Due to a surge in the manufacturing of explosives in Chile and Peru, the industrial explosives market in the region is estimated to expand at a CAGR of 7.6% over 2016–2022 in terms of revenue. With an anticipated increase in manufacturing in Chile in the coming years, demand for industrial explosives in the country is expected to increase between 2016 and 2022. Some major factors driving the Latin America industrial explosives market are increasing mining activities, construction of tunnels and roads, and initiatives by governments in the region to tap rich mineral resources underground.

Persistence Market Research, in its report titled, “Industrial explosives Market: Latin America Industry Analysis and Forecast, 2016-2022”, has categorized the industrial explosives market into key segments based on product type, end-use industry, and countries. On the basis of product type segment, the Latin America industrial explosives market is divided into two segments: high explosives and blasting agents. On the basis of end-use industry, the Latin America industrial explosives market is divided into mining, construction, and others. Mining segment further consists of three sub-segments: metal mining, non-metal mining, and quarrying. Finally, on the basis of countries, the Latin America industrial explosives market is segmented into Brazil, Chile, Peru, Colombia, Argentina, Mexico, and rest of Latin America.

The industrial explosives market in Brazil is expected to expand at a CAGR of 6.6% in terms of volume during the forecast period. The country is expected to account for a volume share of around 15.7% of the Latin America industrial explosives market by the end of 2022. In terms of value, Chile is expected to account for a major value share of the Latin America industrial explosives market during the forecast period.

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By product type, blasting agents segment in the Latin America industrial explosives market is slated to expand at the fastest CAGR during the forecast period in terms of volume. The growth of this segment is primarily driven by the increase in run time, high stability, and ease of transportation. In terms of market value, high explosives segment is expected to expand at a CAGR of 6.6% during the forecast period.

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