Industrial Explosives Market 2027: Growth Analysis By Manufacturers, Regions, Types And Applications

Allied Market Research recently published a report, "Industrial Explosives Market by Type [High Explosives and Blasting Agents (Ammonium Nitrate Fuel Oil (ANFO), Water Gel Explosives, Emulsions, Nitrogen Explosives, and Slurries)]and End-use Industry (Mining, Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global industrial explosives industry was pegged at $7.1 billion in 2019, and is expected to reach $10.9 billion by 2027, witnessing a CAGR of 5.5% from 2020 to 2027.

Major drivers of market growth:

Surge in mineral extraction activities, increase in demand for industrial explosives in open-pit mining, and rise in tunnel construction and development projects have boosted the growth of the global industrial explosives market. However, surge in natural gas prices and limitations in transportation and storage hamper the growth of the market. On the contrary, government initiatives in the mining sector are expected to create lucrative opportunities for the market players in the future.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/1590

Blasting agents segment dominated the market:

By explosive type, the blasting agents segment held the largest share in 2019, accounting for more than four-fifths of the global industrial explosives market. Moreover, the segment is expected to register the highest CAGR of 5.6% during the forecast period. This is owing to increase in use in the mining and construction industry because of its safety and security, excellent resistance to water, increased velocity of detonation, transport, handling and storage, savings in drilling operations, and low gas emissions. The report also analyzes the high explosives segment.

Mining segment to manifest highest CAGR through 2027:

By end-use industry, the mining segment is expected to portray the highest CAGR of 5.6% during the forecast period. However, the segment held the largest share in 2019, accounting for more than three-fourths of the global industrial explosives market, due to increased use of industrial explosives for rock fragmentation in the extraction of minerals and coal. The research also discusses segments including construction and others.

Asia-Pacific held the largest share:

By region, the global industrial explosives market across Asia-Pacific region held the largest share in 2019, contributing to more than two-fifths of the market. Moreover, the region is expected to register the highest CAGR of 6.5% during the forecast period, owing to the presence of large mineral reserves coupled with a steadily growing demand for industrial minerals. The research also discusses regions including North America, Europe, and LAMEA.

Interested in Procuring this Report? Visit Here: https://www.alliedmarketresearch.com/purchase-enquiry/1590

Major market players

AECI Ltd.
EPC Groupe
Austin Powder Company
Irish Industrial
Incitec Pivot limited
Keltech Energies Ltd.
Explosives Ltd.
NOF Corporation
Maxam Corp.
Sigdo Koppers S.A.
Orica Ltd.
Solar Industries India Ltd.

Report Customization @ https://www.alliedmarketresearch.com/request-for-customization/1590

Contact:
David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

This release was published on openPR.