Research on Latin America industrial explosives Market (impact of COVID-19) with Top Players MAXAM, AEL Mining Services Ltd., EXSA SA, Enaex, Austin International, Orica Limited, Keltec Energies, Economic Explosives, IBP

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Rising mining activities are expected to drive growth of the Latin America industrial explosives market during the forecast period
Increasing demand for metals, non-metals, and stones in Latin America has increased mining activities thereby boosting the overall demand for industrial explosives. Growing inclination of foreign investors in the Latin America mining industry has led to a boost in the demand for explosives such as blasting agents and high explosives in the region. According to Coherent Market Insights’ analysis, Investments in the mining sector in Latin America had risen by over 50% from 2010 to 2014. According to the same source, Total investment in the mining sector in Mexico reached US$ 14.6 Bn collectively in both 2012 and 2013. Hence, these factors are expected to drive growth of the Latin America industrial explosives market in the near future.

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Increasing number of industrial tunnel construction and road development projects are expected to propel the Latin America industrial explosives market growth over the forecast period
The demand for robust public transport facilities has increased, which includes roadways and railways thereby resulting in intensive tunneling and road development projects being initiated in relatively developed countries of Latin America such as Brazil and Mexico. This, in turn, is expected to propel the Latin America industrial explosives market growth over the forecast period. According to Coherent Market Insights’ analysis, investment in construction and infrastructural activities in Brazil rose from 2.5% of GDP to 4% of GDP from 2011 to 2015.

Statistics:

Chile held dominant position in the Latin America industrial explosives market in 2019, accounting for 28.9% share in terms of value, followed by Peru, Colombia, Brazil, and Mexico respectively

The Latin America industrial explosives market was valued at US$ 1,050.70Mn in 2019 and is forecast to reach a value of US$ 1,888.38 Mn by 2027 at a CAGR of 7.6% between 2020 and 2027.

Market Trends

Rising use of explosives owing to increasing depth of underground mines
Major companies involved in the market are focused on increasing the depth of underground mines, in order to extract more amount of minerals and are thus deploying a large amounts of explosives specially ANFO and bulk explosives. For instance, in April 2014, ‘KGHM Polska Mied?’ started a new project called ‘Deep Glogow’ for the extraction of copper and silver. The depth of the mine is 1,200 meters and is expected to yield minerals for a span of 40 years.

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Growing utilization of blasting agents for tunneling rather than mechanical drills
Majority of companies are more inclined towards the use of explosives for tunneling of roads and railway tracks instead of mechanical drilling. For instance, Orica, an Australian explosives manufacturer, offers over 15 denominations of explosives (ANFO, emulsions, etc.) to be used in tunneling projects.

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