Press release
Industrial Explosives Market Sale to Cross US$ 22.51 Bn Revenues in 2031 at a CAGR of 7.2%
Industrial Explosives Market 2022
Industrial Explosives Market is projected to account for over US$ 22.51 Bn and expand at a CAGR of 7.2% through 2031. As per analysis by Persistence Market Research, the global industrial explosives market is estimated to expand at a healthy CAGR of more than 6% over the forecast period of 2021-2031. Industrial explosives are widely used in the mining sector. Increasing population and rapid Industrialization are expected to surge demand over the coming years.
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Growing demand for coal and metals across various industrial sectors is one of the leading driving factors for the growth of the global industrial explosives market. The mining sector has witnessed significant growth in the past few years, which is expected to continue over the coming years as well. Increasing demand from automotive and construction industries is expected to fuel growth of the mining sector. Demand for bulk industrial explosives is extremely high, and this segment will continue to enjoy a huge market share over the next ten years.
Key Companies-
• Orica Limited
• Exsa S.A.
• Dyno Nobel/Incitec Pivot Limited
• Eurenco SA
• NOF Corp.
• Enaex S.A.
• AEL Mining Services Ltd./ AECI Group
• Maxamcorp Holding Sl
• Austin Powder Company
• Irish Industrial Explosives Ltd.
• Ideal Industrial Explosives Limited
• Sichuan Yahua Industrial Group Co., Ltd.
• Solar Industries
• LSB INDUSTRIES
• BME Mining
Complete Report Details@https://www.persistencemarketresearch.com/market-research/industrial-explosives-market.asp
Key Takeaways from Market Study
• Demand for bulk explosives has seen prominent growth in recent years, as they are used as a blasting material with an interesting ratio performance/price.
• Increasing demand for packaged explosives from the construction sector is expected to complement market growth.
• Increasing requirement for coal has led to significant growth in demand for industrial explosives.
• Demand for metals from various industries has seen tremendous growth over the decades. As such, the need for industrial explosives has been rising steadily over the past few years for related applications, especially in nations such as India, China, and Russia.
• Currently East Asia is the most lucrative market for industrial explosives due to increased domestic demand for metals and coal, and rising construction activities.
• Due to the COVID-19 pandemic, industrial activities were hit, thereby diminishing demand for explosives. In 2020, the market witnessed a growth of only 0.9%. However, with activities gradually increasing across sectors, growth in 2021 is pegged at close to 5%.
"Demand for industrial explosives in high from the mining sector across regions, which holds a market share of more than 80%," says an analyst of Persistence Market Research.
More Valuable Insights
Persistence Market Research, a research and consulting firm has published a market research report on the industrial explosives market that contains global industry analysis of 2016-2020 and opportunity assessment for 2021-2031. The report provides in-depth analysis of the market through different segments, namely, type, end use, and region. The report also provides supply and demand trends, along with an overview of the parent market.
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Key Questions Answered in Report -
Q1. Which is the most lucrative market for industrial explosives?
Q2. Which is the top-selling type of explosive?
Q3. Which end-use industry is demanding the highest requirement for industrial explosives?
Q4. Which are some of the leading companies providing industrial explosives?
Q5. Which application segment is driving the sales of industrial explosives?
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