Highest Demand in Mining and Construction Segment Driving Industrial Explosives Market Accounting 81.7% Shares in 2015 and Continues its Growth by 2022

Industrial Explosives Market report, published by Allied Market Research, forecasts that the global market was valued at $10,180 million in 2015, and is expected to garner $15,888 million by 2022, registering a CAGR of 6.7% during the forecast period 2016 to 2022. Mining segment dominated this market, occupying more than four-fifths share of the market revenue in 2015.

The market for industrial explosives is on a continuous rise due to rapid increase in mining activities, especially in the developing economies globally. Moreover, increase in demand for earth minerals, such as bauxite, iron ore, coal, and rare earth metals, such as gold and silver, is a key factor fueling the market growth. In addition, growth in use of industrial explosives, especially in the construction industry for tunneling and other applications, along with increase in inclination of construction professionals toward the use of industrial explosives to save time and labor costs drive the growth of the market.

In the year 2015, the mining segment occupied around 80% of the overall industrial explosives market revenue and is expected to maintain its lead throughout the forecast period. This is due to increase in investments in mining activities to tap rich mineral resources to fulfil the rise in demand for the same global. Blasting agents dominated high explosives, as they are used in bulk quantities to detonate mines and mountains.

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Furthermore, initiatives by governments of various economies to tap rich underground mineral resources to achieve pace in the ever-growing competition and higher GDP are some of the factors that accelerate the market growth. However, fluctuating prices of ammonia along with stringent regulations on the storage and transportation of industrial explosives along with high initial costs required for the manufacture of industrial explosives are some of the key factors that hamper the market growth. Moreover, maintenance & aging costs and compliance with quality, specifications, and testing are some major factors that hinder the growth of the market.

Asia-Pacific and LAMEA collectively accounted for more than half of the market in 2015, and are expected to maintain this trend throughout the forecast period. This is due to the increase in mining and mineral exploration activities due to abundance of rich mineral resources in these regions, especially in China, India, Chile, Peru, Brazil, and others.

Top key players in the market :

• AEL Mining Services
• Orica Ltd.
• EXSA S.A.
• Enaex S.A.
• MAXAM Corp.
• Austin Powder Company
• Hubei Kailong Chemical Group Co.Ltd
• Solar Industries India Limited
• Dyno Nobel
• Davey Bickford.

Table of Content :


Chapter: 1. INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models

Chapter: 2. EXECUTIVE SUMMARY

2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVE

Chapter: 3. MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top Investment Pockets, By End-use Industry

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. Bargaining Power of Suppliers
3.3.2. Bargaining Power of Buyers
3.3.3. Threat of New Entrants
3.3.4. Threat of Substitutes
3.3.5. Competitive Rivalry

3.4. MARKET DYNAMICS

3.4.1. Drivers

3.4.1.1. Increasing mineral extraction activities
3.4.1.2. Increasing demand for industrial explosives in open pit mining
3.4.1.3. Rise in tunnel construction and development projects

3.4.2. Restraints

3.4.2.1. Increase in raw material prices
3.4.2.2. Limitations in transportation

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