Global Industrial Explosives Market to Reach US$ 11.7 Billion by 2032, Propelled by Significant Growth in Mining Industry

According to the latest report by IMARC Group, titled “Industrial Explosives Market Report by Type (High Explosives, Blasting Agents), End Use Industry (Mining, Construction, and Others), and Region 2024-2032,” the global industrial explosives market size reached US$ 8.0 Billion in 2023. Industrial explosives are powerful materials specifically designed for industrial applications that require controlled explosions. They are made from a combination of hydrogen, carbon, oxygen, and nitrogen. They are formulated to release a large amount of energy in a controlled manner to achieve specific objectives like breaking, fragmenting, or displacing materials. They are instrumental in tasks, such as rock blasting, tunneling, road construction, seismic exploration, and demolition of structures.

Global Industrial Explosives Market Trends:

There is an increase in the use of industrial explosives in the mining industry for rock blasting activities to fragment and break rock formations, which allows extraction of valuable minerals. This, coupled with rising mining activities and the growing demand for coal and various rare earth metals like gold, bauxite, iron, ore, silver, and surface minerals across different industrial verticals, represents one of the key factors augmenting the market growth around the world. Moreover, the increasing usage of industrial explosives in the production of quarrying and aggregate to extract sand, gravel, and crushed stone is favoring the market growth. In addition, industrial explosives find applications in the defense sector for various military operations, bomb disposal, and training exercises. This, along with the growing number of cross-border terrorist activities, illegal trespassing, and drug trafficking incidences, is influencing the market positively. Apart from this, the increasing utilization of industrial explosives in the construction industry to allow precise and controlled breaking down of buildings, bridges, and chimneys is propelling the market growth. Furthermore, the growing demolishing activities of unauthorized buildings and weak foundations are creating a positive outlook for the market. Looking forward, the market value is projected to reach US$ 11.7 Billion by 2032, expanding at a CAGR of 4.2% during 2024-2032.

Market Summary:

• Based on the type, the market has been segregated into high explosives and blasting agents [ammonium nitrate fuel oil (ANFO), water gel explosives, emulsions, nitrogen explosives, and others]. At present, blasting agents [ammonium nitrate fuel oil (ANFO), water gel explosives, emulsions, nitrogen explosives, and others] dominate the market.
• On the basis of the end use industry, the market has been divided into mining (metal mining, non-metal mining, and quarrying), construction, and others. Mining (metal mining, non-metal mining, and quarrying) currently accounts for the biggest share in the market.
• Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
• The competitive landscape of the market has also been examined, with some of the key players being AECI Limited, Austin Powder Company, EPC Groupe, Incitec Pivot limited, Irish Industrial Explosives Limited, Keltech Energies Ltd., NOF Corporation, Orica Limited, Sigdo Koppers S.A. and Solar Industries India Limited.

Report Scope:

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