The global industrial explosives market was valued at $7.1 billion in 2019, and is projected to reach $10.9 billion by 2027, growing at a CAGR of 5.5% from 2020 to 2027.
Industrial explosives are high hazard blasting explosives primarily used in the mining, quarrying, and construction industries. When initiated efficiently, it rapidly gets converted into gases at high pressure and temperature. This process of initiation of industrial explosives is known as detonation and leads to rock fragmentation. One liter of explosive can expand up to 1,000 liters within milliseconds, and can attain a temperature range of 1500-4000°C. Industrial explosives can blast a larger amount of area as compared to conventional mechanical drills when deployed for the same task, thereby reducing excavation time and saving labor costs.
The growth of the global industrial explosives is driven by rise in demand for minerals, coal, and rare earth metals, such as gold and silver, which are present inside the earth crust. Moreover, increase in use of industrial explosives in the construction industry for tunneling and other applications along with rise in inclination of construction professionals toward the use of industrial explosives to save time and labor costs is fueling the growth of the market. Furthermore, initiatives by governments of various economies to tap rich underground mineral resources to achieve higher GDP drives market growth. Currently, the global industrial explosives market has witnessed vivid opportunities due to increase in mining activities, especially in developing economies across the globe.
However, fluctuating prices of ammonia and implementation of stringent regulations on the storage and transportation of industrial explosives are expected to act as a restraints of the global market. Moreover, high initial costs required for the manufacture of industrial explosives hampers market growth.
The global industrial explosives market is segmented into explosive type, end-use industry, and region. On the basis of explosive type, the market is fragmented into high explosives and blasting agents. The blasting agents segment is further divided into ANFO, water gel explosives, emulsion explosives, nitrogen explosives, and others. By end-se industry, the global market is categorized into mining, construction, and others (seismic wave generations and oil fields). Mining is subsegmented into metal mining, non-metal mining, and quarrying. Region wise, the industrial explosives market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies profiled in this report are AECI Ltd., Austin Powder Company, EPC Groupe, Incitec Pivot limited, Irish Industrial, Explosives Ltd., Keltech Energies Ltd., Maxam Corp., NOF Corporation, Orica Ltd., Sigdo Koppers S.A., and Solar Industries India Ltd.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Type
By End-use Industry
By Region
Industrial explosives are high hazard blasting explosives primarily used in the mining, quarrying, and construction industries. When initiated efficiently, it rapidly gets converted into gases at high pressure and temperature. This process of initiation of industrial explosives is known as detonation and leads to rock fragmentation. One liter of explosive can expand up to 1,000 liters within milliseconds, and can attain a temperature range of 1500-4000°C. Industrial explosives can blast a larger amount of area as compared to conventional mechanical drills when deployed for the same task, thereby reducing excavation time and saving labor costs.
The growth of the global industrial explosives is driven by rise in demand for minerals, coal, and rare earth metals, such as gold and silver, which are present inside the earth crust. Moreover, increase in use of industrial explosives in the construction industry for tunneling and other applications along with rise in inclination of construction professionals toward the use of industrial explosives to save time and labor costs is fueling the growth of the market. Furthermore, initiatives by governments of various economies to tap rich underground mineral resources to achieve higher GDP drives market growth. Currently, the global industrial explosives market has witnessed vivid opportunities due to increase in mining activities, especially in developing economies across the globe.
However, fluctuating prices of ammonia and implementation of stringent regulations on the storage and transportation of industrial explosives are expected to act as a restraints of the global market. Moreover, high initial costs required for the manufacture of industrial explosives hampers market growth.
The global industrial explosives market is segmented into explosive type, end-use industry, and region. On the basis of explosive type, the market is fragmented into high explosives and blasting agents. The blasting agents segment is further divided into ANFO, water gel explosives, emulsion explosives, nitrogen explosives, and others. By end-se industry, the global market is categorized into mining, construction, and others (seismic wave generations and oil fields). Mining is subsegmented into metal mining, non-metal mining, and quarrying. Region wise, the industrial explosives market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies profiled in this report are AECI Ltd., Austin Powder Company, EPC Groupe, Incitec Pivot limited, Irish Industrial, Explosives Ltd., Keltech Energies Ltd., Maxam Corp., NOF Corporation, Orica Ltd., Sigdo Koppers S.A., and Solar Industries India Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
- The major countries across four major regions have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study.
- The profiles of key players along with their key strategic developments are enlisted in the report.
KEY MARKET SEGMENTS
By Type
- High Explosives
- Blasting Agents
- Ammonium Nitrate Fuel Oil (ANFO)
- Water Gel Explosives
- Emulsions
- Nitrogen Explosives
- Others (Slurries)
By End-use Industry
- Mining
- Metal Mining
- Non-metal Mining
- Quarrying
- Construction
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Russia
- Germany
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- Japan
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Chile
- Peru
- South Africa
- Rest of LAMEA
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Industrial Explosives Market, by Type
Chapter 5: Industrial Explosives Market, by End-Use Industry
Chapter 6: Industrial Explosives Market, by Region
Chapter 7: Competitive Landscape
Chapter 8: Company Profiles
Executive Summary
According to the report titled, ' Industrial Explosives Market By Type and By End-use Industry: Opportunity Analysis and Industry Forecast, 2019-2027', the global industrial explosives market was valued at $7.1 billion in 2019, and is projected to reach $10.9 billion by 2027, growing at a CAGR of 5.5% from 2020 to 2027.Industrial explosives are high hazard blasting agents used for quarrying, mining, and construction activities. As industrial explosives yield higher torque, they are widely used by tunneling companies across the globe. Industrial explosives are either deflagrated or detonated. Deflagration of industrial explosives refers to the explosion caused due to a flame, where as detonation is caused due to an explosive shock wave traversing through the explosive. After explosion, industrial explosives produce a strong torque accompanied by heat, light, sound, and pressure. Explosives that detonate are called high explosives, where as explosives that are deflagrated are known as blasting agents or low explosives.
Increase has been witnessed in the demand for industrial explosives especially blasting agents such as ammonium nitrate fuel oil (ANFO), emulsions, and slurries along with upsurge in use of explosives as an alternative to mechanical machines used in tunneling and construction activities. These factors are expected to drive the growth of the global industrial explosives market. Moreover, initiatives by governments of various economies to tap rich underground mineral resources to achieve pace in the ever-growing competition and upsurge in GDP are some of the key driving factors of the market. Furthermore, increase in percapita disposable income boosts the demand for precious metals such as gold and silver, the extraction of which involves intense mining, there by fueling the overall demand for industrial explosives across the globe. In addition, rise in demand for earth minerals, such as bauxite, iron ore, and coal from various industries such as automotive, thermal, and chemicals coupled with increase in inclination of construction professionals toward the use of industrial explosives to save time and labor costs fuels the growth of the global industrial explosives market. However, fluctuation in prices of raw materials such as ammonia, high initial costs required for manufacturing industrial explosives, enforcement of stringent regulations on the storage & transportation of industrial explosives are some of the key factors hampering the growth of the market.
On the basis of explosive type, the market is segmented into high explosives and blasting agents. The blasting agents segment is further divided into ANFO, water gel explosives, emulsion explosives, nitrogen explosives, and others. ANFO accounted for more than half of the global industrial explosives market share by explosive type, due to its stability, as ANFOs are sensitive to mechanical impacts during mechanical loading to shot-holes.
Depending on end-use industry, the global industrial explosives market is categorized into mining, construction, and others (seismic wave generations and oil fields). Mining is subsegmented into metal mining, non-metal mining, and quarrying. The mining industry accounted for the largest market share, and is expected to exhibit highest growth during the forecast period, owing to increase in global mining activities along with preference of industrial explosives over mechanical drilling.
Region wise, the industrial explosives market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to garner the highest share of the total industrial explosives market size during the forecast period, due to expansion of mining and construction sector in the region, which augments the demand for more mineral resources, there by boosting the growth of the industrial explosives market. Infrastructural developments such as construction of dams are anticipated to offer remunerative opportunities to the market growth during the forecast period.
Key Findings Of The Study
The industrial explosives material market is projected to grow at a CAGR of nearly 5.5%, in terms of revenue, during the forecast period.
The mining end-use industry is anticipated to witness moderate growth rate of 5.6%, in terms of revenue, during the forecast period.
Asia-Pacific dominated the industrial explosives market with a revenue share of over 42.74% in 2019.
The blasting agents segment is anticipated to witness moderate growth rate of 5.6%, in terms of revenue, during the forecast period.
The key players operating in the global industrial explosives market include AECI Ltd., Austin Powder Company, EPC Groupe, Incitec Pivot limited, Irish Industrial, Explosives Ltd., Keltech Energies Ltd., Maxam Corp., NOF Corporation, Orica Ltd., Sigdo Koppers S.A., and Solar Industries India Ltd.
Companies Mentioned
- AECI Ltd.
- Austin Powder Company
- EPC Groupe Inc.tec Pivot limited
- Irish Industrial
- Explosives Ltd.
- Keltech Energies Ltd.
- Maxam Corp.
- NOF Corporation
- Orica Ltd.
- Sigdo Koppers S.A.
- Solar Industries India Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 260 |
| Published | April 2020 |
| Forecast Period | 2019 - 2027 |
| Estimated Market Value ( USD | $ 7.1 billion |
| Forecasted Market Value ( USD | $ 10.9 billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
