The new report by Expert Market Research titled, ‘Global Explosives Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global explosives market, assessing the market based on its segments like end-use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): 15.3 Million Metric Tons
- Forecast CAGR (2021-2026): 4.1%
- Forecast Market Size (2026): 20.5 Million Metric Tons
The explosives sector is being propelled forward by the mining industry. The explosives industry is benefiting from the rising coal, metals, quarrying, and non-metals industries, and the construction industry. The industry's growth is being fuelled by rising demand in the end-use industries, especially for coal. High-quality, low-ash, and low-sulphur coal is expected to drive explosives industry growth even further, especially in Australia. Also, the explosives industry has grown in response to rising commodity demand and increased mineral production. In addition, the decline in ore grades has resulted in increased exploration activities, which has accelerated the industry's growth.
Industry Definition and Major Segments
An explosive (or explosive material) is a reactive substance with a large amount of potential energy that, if released unexpectedly, can cause an explosion, typically followed by light, heat, sound, and pressure.
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Explosives find their end-uses in the following:
- Coal Mining
- Metal Mining
- Quarrying and Non-Metal
Regionally, the industry is classified into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Advances in global urbanisation, increased use of chemical and material in the industry, and an increase in multinational companies, retailers and national supply chains could drive the expansion of the global explosives market. The increase in commodity prices leads to higher profit margins for mining companies, which drives the expansion of greenfield and brownfield mine projects, increasing market growth. Commodities, such as coal and iron ore, among others, have a positive impact on demand for explosives, due to the expansion of mining activity thereby augmenting the market growth. Various government initiatives to tap rich subterranean mineral resources in order to achieve higher GDP help to drive market growth. The global explosives market is currently seeing vibrant potential as a result of an increase in mining activities, particularly in developing nations around the world.
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Key Market Players
The major players in the market are Enaex S.A., Yara International ASA, Orica Limited, MaxamCorp. Holding, S.L., Austin Powder Company, and Sasol Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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