Press release
Industrial Explosives Market to Cross US$ 20.1 Bn Revenues between 2021 and 2031
Industrial Explosives Market 2022
Industrial Explosives Market is poised to be worth US$ 20.1 Bn by the year 2031. Industrial Explosives Market is slated to witness a CAGR of 6.10% between 2021 and 2031.
Demand for industrial explosives has witnessed significant growth over the decades. Growth is projected to increase even faster over the next years, due to rising demand for blasting materials from the mining and construction industry. Increasing population and rapid urbanization is ensuring significant opportunities for ongoing and upcoming Industrial and commercial projects, which need explosives for various purposes.
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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
Will Emerging Applications in Construction Influence Demand for Explosives?
Growth of the construction industry is expected to have a high impact on the demand for industrial explosives market. Demand is increasing due to ongoing developments in the transportation, commercial, and residential sectors. In the past few years, the tunnel making sector has grown owing to high transportation development activities for railways and roadways. Roadway development is being carried out on a large scale in developing countries such as China, UAE, Saudi Arabia, and India. For instance, in 2021 India inaugurated the longest highway tunnel in the world in the state of Himachal Pradesh, which has a length of 9.02 km, and is 10,000 feet above sea level.
What is the Commercial Potential of Industrial Explosives?
Industrial explosives are mostly used in the mining sector for blasting purposes. These explosives are used as blasting agents and high explosives for detonation or deflagration in mining activities. Industrial explosives have a wide range of applications in construction activities such as tunnel making, building demolition, and others, which bodes well for demand growth over the coming years. Increasing demand for minerals and metals coupled with the pressure to increase output cost-effectively have led to digital transformation in the mining industry, which is expected to boost demand of industrial explosives. In addition, future opportunities for mining in deep sea, space, and abandoned mines are also expected to create significant opportunities for industrial explosive manufacturers.
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Why Do Bulk Explosives Witness Higher Demand?
Bulk explosives are paste form explosives that are delivered on-site through bulk delivery trucks. The main reason behind high demand for bulk explosives is that they is mainly used in mining. Detonation and handling of these explosives is done by manufacturers, since they are directly delivered to on-site working area. In addition, bulk explosive are also cost-effective than package explosives, which is another major factor driving their demand across regions.
Which End-use Industry Drives Demand for Industrial Explosives?
The mining sector dominates the global industrial explosives. This is due to the high demand for explosives in new and upcoming mining activities across the globe. Major segments include coal mining, metal mining, and quarry and non-metal mining. In the past few years, the mining sector has witnessed substantial growth due to increasing demand for coal from the power sector, which has boosted demand for industrial explosives. The metal mining sector has grown significantly due to industrialization globally, which has led to increase in demand for metals from various end-use industries such as automotive and construction. Quarry and non-metal mining has increased with incremental growth in the past few years, which is raising the requirement for industrial explosives.
Market Segmentation by Category
• By Type
o Bulk Explosives
o Packaged Explosives
• By End Use
o Mining
o Metal Mining
o Coal Mining
o Quarry & Non-Metal Mining
o Construction
• By Region
o North America
o Latin America
o Europe
o East Asia
o South Asia & Pacific
o Middle East & Africa
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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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