Burlingame, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, "Industrial Explosives Market, By Type (High Explosives and Blasting Agents), By End-use industry (Metal Mining, on-Metal Mining, Quarrying, Construction, and Others), - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030.” According to the report, the global Industrial Explosives market is estimated to be valued at US$ 7.6 billion in 2022 and is expected to exhibit a CAGR of 5.6% during the forecast period (2022-2030).
Request Sample copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/2966
Analysts’ Views on Global Industrial Explosives Market
Growing demand for explosives from mining industry is expected to drive industrial explosives market growth. Growth of minning industry is also expected to contribute to market growth. According to the Ministry of Statistics and Programme Implementation (MOSPI), mining production in India increased 6.40 percent in May of 2023 over the same month in the previous year.
Key Trends and Analysis of the Global Industrial Explosives Market:
Growing number of tunnel construction and development projects are a recent trend observed in the market. According to India Infrastructure Research, the tunnelling sector offers a strong pipeline of over 500 tunnels, spanning a length of around 1,000 km across sectors like roads, railways and metro rail. The sector holds immense promise for contractors, consultants, and technology and equipment providers.
Global Industrial Explosives Market - Drivers
Growing coal-fired power generation sector to foster industrial explosive market growth
Increasing demand for power due to growing population and rapid urbanization are key factor augmenting growth of coal-fired power generation sector. According to the U.S. Energy Information Administration (EIA), by 2040, the power generated using coal is expected to account for nearly 29% share in overall generated power, witnessing a decline of nearly 11% in its share between 2012 and 2040. Hence, growing coal-fired power generation sector is expected to foster industrial explosive market growth.
Industrial Explosives Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2022: | US$ 7,600.0 Mn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 5.6% | 2030 Value Projection: | US$ 11,718.7 Mn | |
| Geographies covered: |
| |||
| Segments covered: |
| |||
| Companies covered: | Orica Limited, Irish Industrial Explosives Limited, Dyno Nobel Pty Limited/ Incitec Pivot Ltd., NOF Corporation, AEL Mining Services Ltd. / AECI Group, EURENCO, Enaex S.A., Austin Powder Holdings Company, Maxamcorp Holding S.L., and Exsa S.A. | |||
| Growth Drivers: |
| |||
| Restraints & Challenges: |
| |||
Increasing demand for industrial explosives from construction sector to propel market growth
Growing use of industrial explosives for excavation for building foundations, road carving, and demolition work in construction industry is expected to drive market growth. Moreover, key players are adopting various growth strategies to meet the growing demand across end user industries. For instance, in Febuary 2023, AzerBlast” Limited Liability Company (LLC), “AzerGold” CJSC’s subsidiary company, launched the construction of a manufacturing plant which will produce explosives for industrial use
Global Industrial Explosives Market – Restrain
Environmental concerns associated with industrial explsoives to hamper market growth
Industrial explosives are need to be handled or disposed of properly, as they can have adverse environmental impacts. The release of harmful gases, pollution of water bodies, and disturbance to ecosystems are some of the environmental concerns associated with the use of explosives. Growing environmental regulations due to rising concerns are expected to hamper the market growth.
Directly Purchase a copy of the report with TOC @ https://www.coherentmarketinsights.com/insight/buy-now/2966
Global Industrial Explosives Market – Opportunities
Growing number of merger and aquasition in the market is expected to provide significant market growth opportunities
Key players in the Industrial Explosives market growth stratgeies such as merger and acquisition in order to gain competitive edge in the market. For instance, in June 2021,Chemring Group PLC had completed the acquisition of Cubica Technology Limited and Q6 Holdings Limited. This strategic move is anticipated to generate additional prospects for Chemring Group PLC to strengthen and expedite its Roke business.
Global Industrial Explosives Market - Key Developments
In November 2019, Stockholm, Sweden: Epiroc, a productivity partner for the mining and infrastructure industries, has entered into a partnership with world-leading commercial explosives provider Orica to jointly develop a semi-automated explosives delivery system, enabling safer and more productive blasting operations in underground mines.
In September 2019, Blasting and explosives leader BME, a member of South Africa-based Omnia Group, has announced a joint venture in Canada with Consbec, the largest surface drilling and blasting contractor in Canada.
Key Market Takeaways:
Global Industrial Explosives market is expected to exhibit a CAGR of 5.6% during the forecast period, owing to the growing mining industry coupled with the increasing use of explosive from costruction sector.
On the basis of Type, High Explosives segment is expected to hold a dominant position, owing to the growing demand for blasting agents from mining sector
On the basis of End use industry, metal mining segment is expected to hold a dominant position, owing to the growing demand for earth minerals from electronics.
On the basis of region, Asia Pacific is expected to hold a dominant position over the forecast period, due to easy availability of earth minerals, cost-effective labor, and a growing demand for explosives in mining industry.
Competitive Landscape:
Key players operating in the global Industrial Explosives market include Orica Limited, Irish Industrial Explosives Limited, Dyno Nobel Pty Limited/ Incitec Pivot Ltd., NOF Corporation, AEL Mining Services Ltd. / AECI Group, EURENCO, Enaex S.A., Austin Powder Holdings Company, Maxamcorp Holding S.L., and Exsa S.A.
For Report Customization @ https://www.coherentmarketinsights.com/insight/request-customization/2966
Detailed Segmentation:
- Global Industrial Explosives Market By Type:
- High Explosives
- Blasting Agents
- Global Industrial Explosives Market By End-use industry:
- Metal Mining
- Non-Metal Mining
- Quarrying
- Construction
- Others
- Global Industrial Explosives Market By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
Related Market Intelligence Reports:
Cloud Robotics Market, By Component (Hardware (Robot, Hardware Components), Software (Infrastructure as a Service (IaaS), Robotics as a Service (RaaS) & Platform as a Service (PaaS), Robotics Application Software), Services (System Integration, Connectivity Service, Other Professional Services)), By Implementation Type (Peer Based, Proxy Based, Clone Based), By Technology (Bluetooth, Wi-Fi, 3G, 4G, 5G, RF, Infrared), By Application ( Industrial Cloud Robotics (Automotive, Defense, Manufacturing, Transportation & Logistics, Others), Professional Service Cloud Robotics (Agriculture, Health Care (Hospitals and Clinics), Aerospace (Travel and Tourism), Retail, Others), Personal Service Cloud Robotics (Entertainment, Education, Personal Healthcare, Others)) and by Region (North America, Latin America, Europe, APAC and Middle East & Africa) -Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030
Laser Safety Glasses Market, By Technology (Glass Laser Safety Eyewear, Polycarbonate Safety Glasses, Thin-film Glasses, Laser Protective Face Shields, Intense Pulse Light (IPL) Safety Glasses.), By Application (Automotive Manufacturing, Medical, Chemicals, Military Aerospace & Defense, Others (includes oil & gas, power & mining, industrial manufacturing, and welding)), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Contact Us:
