Industrial Explosives Market Report 2026

The industrial explosives market size has grown strongly in recent years. It will grow from $14.81 billion in 2025 to $15.72 billion in 2026 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to expansion of global mining and quarrying operations, increased adoption of emulsion and slurry explosives for safer blasting, development of advanced detonators for improved initiation control, growth in infrastructure and large-scale construction activities, rising mechanization and modernization of blasting techniques.

The industrial explosives market size is expected to see strong growth in the next few years. It will grow to $19.68 billion in 2030 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to growing demand for high-performance explosives for deeper mining projects, increased automation and digital blasting solutions integration, expansion of mineral exploration in emerging regions, rising focus on environmentally efficient explosive formulations, development of precision blasting technologies to optimize fragmentation and reduce waste. Major trends in the forecast period include rising demand for bulk explosives in large-scale mining operations, increasing use of packaged explosives for precision blasting activities, growing adoption of emulsion and water gel formulations for safety and stability, expansion of explosive applications in infrastructure and tunneling projects, shift toward integrated blasting services bundled with explosives supply.

The rise in mining activities is expected to drive the growth of the industrial explosives market in the future. Mining involves extracting valuable minerals, ores, and other geological materials from the earth, either through surface or underground methods. This increase in mining is fueled by growing global demand for critical minerals essential to clean energy technologies, prompting exploration and extraction in new areas. Industrial explosives facilitate efficient rock fragmentation, enabling mining operations to access valuable minerals more quickly and cost-effectively. For example, in January 2025, the United States Geological Survey, a US government scientific agency, reported that US metal mine production was valued at $33.5 billion in 2024, up from $33 billion in 2023. Hence, the expansion of mining activities is propelling the growth of the industrial explosives market.

Key players in the industrial explosives market are focusing on developing advanced technologies such as digital blasting systems to improve precision, safety, and operational efficiency. Digital blasting systems allow for accurate control over explosive detonations, enhancing safety, efficiency, and fragmentation in industrial explosives applications. For instance, in March 2023, Orica Limited, a US-based explosives company, launched the 4D Bulk Explosives System tailored for underground mining. This system offers real-time, precise control over explosive energy, enabling adaptation to varying geological conditions and complex blast designs. It incorporates advanced emulsion chemistry and intelligent delivery technology, allowing instant energy adjustments within or between blastholes. This boosts blast performance while reducing waste and environmental impact. Additionally, the system supports both pumped and augered loading techniques and is compatible with dry, wet, and dewatered holes, providing enhanced productivity and flexibility for mining operations.

In August 2023, Rheinmetall AG, a Germany-based arms manufacturer, acquired Expal Systems S.A.U. for $1.3 billion. Through this acquisition, Rheinmetall AG aims to substantially increase its ammunition production capacity and reinforce its role as a major supplier to NATO and allied military forces. Expal Systems S.A.U., based in Spain, is a defense company offering industrial explosives along with ammunition, explosives, and related services for military and security sectors.

Major companies operating in the industrial explosives market are Nordex Explosives Ltd, Hanwha Corporation, Orica Ltd, Enaex S.A., AECI Ltd, NOF Corporation, Austin Powder Company, Dyno Nobel Inc., Solar Industries India Ltd., Gulf Oil Corporation Limited, Anhui Jiangnan Chemical Industry Co. Ltd., Premier Explosives Limited (PEL), Titanobel Group, Yantra India Ltd., Ideal Industrial Explosives Ltd., Economic Explosives Ltd., SBL Energy Ltd., Deccan Explotech Pvt. Ltd., GOCL Corporation Ltd., Tamil Nadu Industrial Explosives Ltd. (TEL).

North America was the largest region in the industrial explosives market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial explosives market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on chemical precursors, detonators, and industrial-grade materials have increased production costs in the industrial explosives market, disrupting supply chains for bulk explosives, packaged products, and emulsions. Mining and construction segments across Asia-Pacific and Africa which heavily rely on imported components are most affected due to cost escalations and longer lead times. However, some regions benefit from tariffs through strengthened domestic manufacturing and reduced dependency on foreign suppliers. Overall, tariffs are pushing companies to diversify sourcing and localize production to maintain competitiveness.

The industrial explosives market research report is one of a series of new reports that cover industrial explosives market statistics, including the industrial explosives industry's global market size, regional shares, competitors with the industrial explosives market share, detailed industrial explosives market segments, market trends and opportunities, and any further data you may need to thrive in the industrial explosives market. This industrial explosives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Industrial explosives are specialized chemical substances used mainly for blasting and excavation in sectors like mining, construction, and quarrying. They are engineered to deliver controlled energy releases to break rock, demolish structures, or trigger other industrial operations.

The primary categories of industrial explosives include high explosives and blasting agents. High explosives are chemical compounds or mixtures that detonate by generating a supersonic shock wave, resulting in an immediate and powerful release of energy. Key types encompass commercial explosives, military-grade explosives, blasting agents, and propellants. These explosives come in various forms such as bulk explosives, packaged explosives, emulsions, and water gels. Distribution channels include direct sales, distributors, online platforms, and retail outlets. The main industries using these products are mining, construction, oil and gas, military and defense, and manufacturing.

The countries covered in the industrial explosives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The industrial explosives market consists of sales of emulsion explosives, slurry explosives, detonators, dynamite, and pentolite. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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