The Global Industrial Explosives & Blasting Agents Market is projected to reach USD XX billion by 2028, growing at a CAGR of XX during the forecast period.
Industrial Explosives & Blasting Agents Market
The main difference between explosives and blasting agents is their sensitivity to initiation. Blasting agents require a primer as unlike explosives, blasting agents are not cap-sensitive. Uses for explosives and blasting agents range from earthmoving to seismic wave generation to materials modification to munitions to propulsion have generated a host of specialized and sophisticated explosives products and delivery packages. However, in terms of overall revenues, markets, and products, the business is overwhelmingly dominated by chemical materials based on the intermediate production of nitric acid (principally ammonium nitrate [AN]) that are used by the world’s mining and quarrying industries. Due to its security benefit over other goods such as dynamite, ammonium nitrate consumption for explosives has increased. Ammonium nitrate can be shipped and stored and mixed with fuel oil when needed. Ammonium nitrate fuel oil (ANFO) is made of about 94% ammonium nitrate and 6% fuel oil. ANFO is widely used as an explosive in mining, quarrying, and tunneling construction or wherever dry conditions exist.
Based on the end-use industry, the mining segment is expected to hold the most prominent share in the industrial explosives & blasting agents market. Non-metal mining such as coal mining is the largest consuming sector for industrial explosives. The continued growth in the coal mining sector reflects primarily the increasing coal production in China to satisfy the rapid growth in demand for coal by the energy and steel sectors. Surface mining of coal accounts for a disproportionately larger share of explosives consumption than underground mining. Large amounts of overburden have to be removed from such operations. An increase in mineral extraction activities along with increasing inclination of governments of various economies towards enhancing the overall mineral extraction and production capacities to boost their relative GDPs has fueled the demand for industrial explosives. In addition, increasing demand for industrial explosives in open pit mining due to rising demand for various building materials and construction stones, especially from Europe, Latin America, and the Asia Pacific is another factor propelling the growth of the global industrial explosives & blasting agents market. However, factors such as rapid fluctuations in raw material prices and high cost of high explosives restrict their use in various end-use industries along with limitations in transportation are some restraints hampering the growth of the global industrial explosives & blasting agents market.
Industrial Explosives & Blasting Agents Market
The Asia Pacific is expected to see significant growth in the industrial explosives & blasting agents market as compared to the saturated markets of North America and Europe, mainly due to the increase in coal mining activities in China. According to the China Mining Association, China produced approximately 4,017,920 kilotons of coal in 2014 and with the continuing support of government initiatives and other organizations like the China Coal Mining Expo and Summit is expected to further propel industrial explosives & blasting agents market. The amount of industrial explosives used in mining is expected to increase, owing to the rise in the demand for mineral extraction across the globe, thus fueling the overall growth of the industrial explosives & blasting agents market.
Key Factors Impacting the Growth of Industrial Explosives & Blasting Agents Market:
- Rapid growth in coal mining activities in China.
- Increasing government initiatives of various economies towards enhancing the overall mineral extraction and production capacities to boost their relative GDPs.
- Increasing demand in open pit mining due to the rising demand for various building materials and construction stones.
- Rapid fluctuations in raw material prices.
- The high cost of high explosives.
Key Developments in the Industrial Explosives & Blasting Agents Market:
- In July 2018, AEL Mining Services (South Africa) launched IntelliShot which has been purposefully designed to allow our customers to improve their balance sheets and pursue cash preservation by facilitating the delivery of optimized blasting outcomes.
- In January 2019, Dyno Nobel (US), a global leader in commercial explosives, is launching its newest product, EZshot. This system gives the customer the ability to use electronic timing for improved perimeter control, helping them to save on time and overall production costs.
What Does This Report Provide?
This report provides a detailed understanding of the global industrial explosives & blasting agents market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with a potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the industrial explosives & blasting agents market.
- Ammonium Nitrate Fuel Oil(ANFO)
By End-Use Industry:
- By Country (US, Canada, Mexico)
- By Country (Germany, UK, France, Spain, Rest of Western Europe)
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Country (China, Japan, India, Rest of Asia Pacific)
- By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
- By Region (South America, Africa)
Companies Covered: Major Companies profiled in the report which are key players in the global industrial explosives & blasting agents market include AEL Mining Services, Orica Ltd., Enaex SA, Austin Powder Company, Davey Bickford, Dyno Nobel, Maxam Corp., Hubei Kailong Chemical Group Co. Ltd., Exsa SA, Solar Industries India Ltd., and Noble Explochem.
Years Considered In The Study
CAGR % (2019-2028)
Reasons to Buy This Report:
- Market size estimation of the global industrial explosives & blasting agents market on a regional and global basis.
- The unique research design for market size estimation and forecast.
- Profiling of major companies operating in the industrial explosives & blasting agents market with key developments.
- Broad scope to cover all the possible segments helping every stakeholder in the market.
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