Mining Explosives Market
Mining Explosives Market Forecasts to 2030 - Global Analysis By Type (Dynamite, Water Gel Explosives, Slurry Explosives, Emulsion Explosives, Boosters & Primers, Detonating Cord and Other Types), Raw Material, Application, End User and By Geography
According to Stratistics MRC, the Global Mining Explosives Market is accounted for $11.22 billion in 2023 and is expected to reach $21.1 billion by 2030 growing at a CAGR of 8.7% during the forecast period. Composed of chemicals like ammonium nitrate and fuel oil mixtures, these explosives are strategically employed to fragment rock efficiently. Safety measures and precise blasting techniques are crucial to minimize environmental impact and ensure worker well-being. They play a pivotal role in the extraction of minerals, breaking through hard rock formations to facilitate ore removal.
According to the World Mining Data 2021, the total production of mineral fuels is 15,435,799,404 metric tonnes. The total production of gold is 3,292,271 metric tonnes, and silver is 27,817,074 metric tonnes.
Market Dynamics:
Driver:
Expansion of extractive industries
As extractive industries, including coal, metals, and minerals mining, expand to meet growing global demands, the demand for efficient and powerful explosives rises. Increased exploration and extraction activities necessitate advanced blasting technologies for effective rock fragmentation. This heightened demand stimulates innovation in explosive formulations and initiation systems and is a key catalyst for sustained growth in the market
Restraint:
Limited access to resources
Geographical constraints, legal restrictions, or land-use conflicts can impede the industry's growth by restricting access to lucrative mining sites. This limitation hampers the exploration and extraction of valuable minerals, constraining the demand for explosives. Companies face reduced opportunities for new projects, impacting revenue streams and hindering market expansion. The negative effect extends to the broader economy, limiting job creation and economic development in regions where mining activities could contribute to local growth.
Opportunity:
Growing industrialization and infrastructure development
The increasing demand for raw materials in construction, manufacturing, and energy sectors fuels extensive mining activities. Explosives play a pivotal role in excavation and rock fragmentation for infrastructure projects, such as roads, bridges, and urban development. Thus the correlation between industrial growth and mining activities underscores the integral role of explosives in meeting the demands of burgeoning infrastructure development, contributing to the expansion and evolution of the market.
Threat:
Environmental impact of explosive usage
Stringent regulations addressing air and water pollution, habitat disruption, and noise emissions necessitate costly compliance measures. Increased scrutiny on eco-friendly practices demands innovations in less environmentally impactful explosive formulations. Public awareness of ecological concerns can lead to project delays and heightened opposition, affecting the social license to operate. The negative perception of mining activities as contributors to environmental degradation may deter investment hampering the market growth.
Covid-19 Impact
Disruptions in global supply chains, workforce limitations, and lockdown measures have hindered production and distribution. Mining operations faced delays and reduced capacities due to health and safety protocols. Fluctuations in commodity prices, triggered by economic uncertainties, further affected market dynamics. However, as economic activities gradually resume, there's resurgence in mining projects, contributing to the recovery of the explosives market.
The emulsion explosives segment is expected to be the largest during the forecast period
The emulsion explosives segment is estimated to have a lucrative growth, due to their stable and safer formulations enhance operational efficiency, minimizing the risk of accidents in mining activities. Emulsion explosives offer precise control over blast outcomes, optimizing fragmentation and reducing environmental impact. The market witnesses increased adoption due to improved safety records, regulatory compliance, and environmental considerations.
The ammonium nitrate fuel oil (ANFO) segment is expected to have the highest CAGR during the forecast period
The ammonium nitrate fuel oil (ANFO) segment is anticipated to witness the highest CAGR growth during the forecast period, as popularity stems from its simplicity, stability, and efficient energy release during detonation. Its widespread adoption, especially in surface mining, contributes to the market's growth. However, regulatory scrutiny may influence the market pushing for innovations in safer explosive formulations.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising demand for minerals, particularly in countries like China and India, fuels the market expansion. Infrastructure development and industrialization contribute to the upsurge in mining operations, elevating the need for efficient explosive materials. Stringent safety regulations and environmental concerns influence market dynamics, promoting innovations in eco-friendly explosive formulations.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period; owing to the rise of the metals and non-metals industries in the area is one of the primary growth factors. Due to urban public facilities and the railway network development, China is one of the fastest-growing global mining explosives markets. In India, with the expansion of the mining industry in the region, the demand for ammonium nitrate is expected to increase substantially.
Key players in the market
Some of the key players in the Mining Explosives Market include AEL Technology, Anhui Jiangnan Chemical Co Ltd, Austin Powder, BME Mining, Chemring Group PLC, China Poly Group Corporation, Dyno Nobel, Enaex – Mine, Ensign-Bickford Aerospace & Defense Company, EPC-UK, Incitec Pivot Limited, NITRO-CHEM S.A., NOF Corporation, Omnia Holdings Limited, Orica, Sasol, SBL Energy Limited, Sichuan Yahua Industrial Group Co., Lt, Solar Group - Solar Industries India Ltd and Yahua Group
Key Developments:
In January 2024, BME’s partnerships drive global growth and ESG focus. through strategic partnerships. Managing Director Ralf Hennecke emphasises the significance of these markets.
In March 2023, Anhui Jiangnan Chemical Industry Co.,Ltd. agreed to acquire Shaanxi North Civil Explosives Group Co., Ltd. from North Special Energy Group Co., Ltd., Ordnance Industry Equity Investment Co., Ltd. and Xi'an Qinghua Investment Co., Ltd. for CNY 544 million.
In March 2022, AEL Sistemas strengthens Brazilian high-tech industry capacity at international fair. Company presents military and space electronic systems for defense and security, in Chile; among the highlights is the WAD for the Brazilian Gripen and the military multimission microsatellite
Types Covered:
• Dynamite
• Water Gel Explosives
• Slurry Explosives
• Emulsion Explosives
• Boosters & Primers
• Detonating Cord
• Other Types
Raw Materials Covered:
• Ammonium Nitrate Fuel Oil (ANFO)
• Trinitrotoluene (TNT)
• Sulfuric Acid (H2SO4)
• Nitroglycerin
• Chlorates & Percolates
• Sprengel
• Nitramon & Nitramex
• Nitrocellulosic
• Nitro Starch
• Other Raw Materials
Applications Covered:
• Metal Mining
• Coal Mining
• Non-Metal Mining
• Other Applications
End Users Covered:
• Quarries
• Government Agencies
• Oil & Gas Industry
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Mining Explosives Market, By Type
5.1 Introduction
5.2 Dynamite
5.3 Water Gel Explosives
5.4 Slurry Explosives
5.5 Emulsion Explosives
5.6 Boosters & Primers
5.7 Detonating Cord
5.8 Other Types
6 Global Mining Explosives Market, By Raw Material
6.1 Introduction
6.2 Ammonium Nitrate Fuel Oil (ANFO)
6.3 Trinitrotoluene (TNT)
6.4 Sulfuric Acid (H2SO4)
6.5 Nitroglycerin
6.6 Chlorates & Percolates
6.7 Sprengel
6.8 Nitramon & Nitramex
6.9 Nitrocellulosic
6.10 Nitro Starch
6.11 Other Raw Materials
7 Global Mining Explosives Market, By Application
7.1 Introduction
7.2 Metal Mining
7.3 Coal Mining
7.4 Non-Metal Mining
7.5 Other Applications
8 Global Mining Explosives Market, By End User
8.1 Introduction
8.2 Quarries
8.3 Government Agencies
8.4 Oil & Gas Industry
8.5 Other End Users
9 Global Mining Explosives Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 AEL Technology
11.2 Anhui Jiangnan Chemical Co Ltd
11.3 Austin Powder
11.4 BME Mining
11.5 Chemring Group PLC
11.6 China Poly Group Corporation
11.7 Dyno Nobel
11.8 Enaex – Mine
11.9 Ensign-Bickford Aerospace & Defense Company
11.10 EPC-UK
11.11 Incitec Pivot Limited
11.12 NITRO-CHEM S.A.
11.13 NOF Corporation
11.14 Omnia Holdings Limited
11.15 Orica
11.16 Sasol
11.17 SBL Energy Limited
11.18 Sichuan Yahua Industrial Group Co., Ltd
11.19 Solar Group - Solar Industries India Ltd.
11.20 Yahua Group
List of Tables
1 Global Mining Explosives Market Outlook, By Region (2021-2030) ($MN)
2 Global Mining Explosives Market Outlook, By Type (2021-2030) ($MN)
3 Global Mining Explosives Market Outlook, By Dynamite (2021-2030) ($MN)
4 Global Mining Explosives Market Outlook, By Water Gel Explosives (2021-2030) ($MN)
5 Global Mining Explosives Market Outlook, By Slurry Explosives (2021-2030) ($MN)
6 Global Mining Explosives Market Outlook, By Emulsion Explosives (2021-2030) ($MN)
7 Global Mining Explosives Market Outlook, By Boosters & Primers (2021-2030) ($MN)
8 Global Mining Explosives Market Outlook, By Detonating Cord (2021-2030) ($MN)
9 Global Mining Explosives Market Outlook, By Other Types (2021-2030) ($MN)
10 Global Mining Explosives Market Outlook, By Raw Material (2021-2030) ($MN)
11 Global Mining Explosives Market Outlook, By Ammonium Nitrate Fuel Oil (ANFO) (2021-2030) ($MN)
12 Global Mining Explosives Market Outlook, By Trinitrotoluene (TNT) (2021-2030) ($MN)
13 Global Mining Explosives Market Outlook, By Sulfuric Acid (H2SO4) (2021-2030) ($MN)
14 Global Mining Explosives Market Outlook, By Nitroglycerin (2021-2030) ($MN)
15 Global Mining Explosives Market Outlook, By Chlorates & Percolates (2021-2030) ($MN)
16 Global Mining Explosives Market Outlook, By Sprengel (2021-2030) ($MN)
17 Global Mining Explosives Market Outlook, By Nitramon & Nitramex (2021-2030) ($MN)
18 Global Mining Explosives Market Outlook, By Nitrocellulosic (2021-2030) ($MN)
19 Global Mining Explosives Market Outlook, By Nitro Starch (2021-2030) ($MN)
20 Global Mining Explosives Market Outlook, By Other Raw Materials (2021-2030) ($MN)
21 Global Mining Explosives Market Outlook, By Application (2021-2030) ($MN)
22 Global Mining Explosives Market Outlook, By Metal Mining (2021-2030) ($MN)
23 Global Mining Explosives Market Outlook, By Coal Mining (2021-2030) ($MN)
24 Global Mining Explosives Market Outlook, By Non-Metal Mining (2021-2030) ($MN)
25 Global Mining Explosives Market Outlook, By Other Applications (2021-2030) ($MN)
26 Global Mining Explosives Market Outlook, By End User (2021-2030) ($MN)
27 Global Mining Explosives Market Outlook, By Quarries (2021-2030) ($MN)
28 Global Mining Explosives Market Outlook, By Government Agencies (2021-2030) ($MN)
29 Global Mining Explosives Market Outlook, By Oil & Gas Industry (2021-2030) ($MN)
30 Global Mining Explosives Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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