Latin America industrial explosives Market 2021-Upcoming Trending Technology Analysis by 2027

An explosive refers to a reactive substance that is comprised of a vast amount of potential energy that can produce a massive explosion if released suddenly. It is usually accompanied by light, sound, and pressure. The process of initiation of explosives is termed as detonation. One unit of explosives when initiated can expand up to 1,000 units within several milliseconds creating high pressure in the blasthole and gaining temperatures ranging from 1,500°C to 4,000°C and an approximate velocity of 2,500–8,000 meters/second. Explosives are categorized on the basis of speed of their detonation. Moreover, another parameter that classifies them is the intensity of detonator used in imitation of the explosive. Industrial explosive is used in various application areas such as mining, construction, and more.

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.

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Who are the key players operating in this market?
Major companies involved in the Latin America industrial explosives market are MAXAM, AEL Mining Services Ltd., EXSA SA, Enaex, Austin International, Orica Limited, Keltec Energies, Economic Explosives, IBP Co., Noble Explochem, Accurate Energetic Systems, LLC., and Detotec North America Inc.

What is the current market size and Compound Annual Growth Rate (CAGR) of the market during the forecast period (2020-2027)?
The Latin America industrial explosives market size was valued at US$ 1,050.70 million in 2019 and is estimated to exhibit a CAGR of 7.6% between 2020 and 2027

Which are the key factors driving the growth of the Latin America industrial explosives market?
Major factor driving the growth of Latin America industrial explosives market during the forecast period are rising mining activities are expected to drive growth of the Latin American industrial explosives market during the forecast period • 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

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