Industrial Explosives Market Detailed Analysis With AEL Mining Services, Orica Ltd., EXSA S.A., Ena

Industrial Explosives Market report, published by Allied Market Research, forecasts that the global market was valued at $10,180 million in 2015, and is expected to garner $15,888 million by 2022, registering a CAGR of 6.7% during the forecast period 2016 to 2022. Mining segment dominated this market, occupying more than four-fifths share of the market revenue in 2015.

The market for industrial explosives is on a continuous rise due to rapid increase in mining activities, especially in the developing economies globally. Moreover, increase in demand for earth minerals, such as bauxite, iron ore, coal, and rare earth metals, such as gold and silver, is a key factor fueling the market growth. In addition, growth in use of industrial explosives, especially in the construction industry for tunneling and other applications, along with increase in inclination of construction professionals toward the use of industrial explosives to save time and labor costs drive the growth of the market.

Segment Review:

The global industrial explosives market is segmented on the basis of type, end-use industry, and geography. Based on type, the market is classified into high explosives and blasting agents. The blasting agents segment dominated the global industrial explosives market in 2014, and is expected to maintain its lead throughout the forecast period. The high explosives segment is anticipated to grow at a significant CAGR of 6.0% over the forecast period. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific occupied more than 40% of the total revenue share in 2015, followed by North America and Europe.

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In the year 2015, the mining segment occupied around 80% of the overall industrial explosives market revenue and is expected to maintain its lead throughout the forecast period. This is due to increase in investments in mining activities to tap rich mineral resources to fulfil the rise in demand for the same global. Blasting agents dominated high explosives, as they are used in bulk quantities to detonate mines and mountains.

Key Findings of the Industrial Explosives Market

• Blasting agents segment is anticipated to grow at the fastest rate during the analysis period.
• Asia-Pacific is estimated to continue to lead the market, growing at a CAGR of 5.7% in terms of volume.
• China occupied more than one-third of the total share of the Asia-Pacific industrial explosives market in 2015.
• India is estimated to grow at the highest CAGR of 8.1% in terms of revenue.
• Nonmetal mining end-use industry accounted for half of the mining segment in 2015.

Asia-Pacific and LAMEA collectively accounted for more than half of the market in 2015, and are expected to maintain this trend throughout the forecast period. This is due to the increase in mining and mineral exploration activities due to abundance of rich mineral resources in these regions, especially in China, India, Chile, Peru, Brazil, and others.

Major Company Players:

Major companies profiled in the report include AEL Mining Services, Orica Ltd., EXSA S.A., Enaex S.A., MAXAM Corp., Austin Powder Company, Hubei Kailong Chemical Group Co., Ltd, Solar Industries India Limited, Dyno Nobel, and Davey Bickford.

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