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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

An explosive is a reactive chemical substance, which contains a significant amount of potential energy that can produce an explosion if and when released suddenly. It is accompanied by the production of heat, light, pressure, and sound. Industrial explosives are high hazard blasting explosives mainly used in quarrying, mining, and construction industry. The choice of industrial explosives for a typical task depends upon major parameters including detonation pressure, the velocity of detonation, density, detonation pressure, water resistance, storage life, and sensitivity. Industrial explosives are classified into following key types depending on their cap sensitivity namely high explosives and blasting agents.

The global industrial explosives market is estimated to account for US$ 18,786.74 Mn in terms of value by the end of 2028.

Market Dynamic- Drivers

  1. Rapid growth of coal-fired power generation is expected to drive growth of the global industrial explosive market during the forecast period

Rising urbanization has led to increasing demand for power. Government authorities need to meet the increasing energy demand with rising population. According to Coherent Market Insights’ analysis, global power generation is expected to witness a significant growth of 19.5% during 2012-2020. 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. Although there has been effort taken regarding renewable and cleaner energy sources for power generation, coal-fired power generation remains a major source of energy. Therefore, these factors are expected to drive growth of the global industrial explosive market during the forecast period.

  1. Tapping rich mineral resources is to boost economic growth is expected to propel the global industrial explosives market growth over the forecast period

Mining activities account for a major share of GDP in several emerging economies such as China, India, Brazil, Mozambique, and Mexico. Governments of the aforementioned countries are focused on unexplored and untapped investment opportunities for mining of mineral resources in order to drive economic growth. Moreover, countries in Central and Western Africa are expected to witness increase in mining output during the forecast period. For instance, in January 2015, the Government of Peru invested around US$ 62 Bn on mining projects to increase the extraction capacity of minerals including zinc, copper, and gold. Therefore, these factors are expected to propel the global industrial explosive market growth over the forecast period.

Statistics:

Asia-Pacific held dominant position in the global passive components market in 2020, accounting for 44.8% share in terms of value, followed by North America, Europe and Rest of the World respectively.

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Industrial Explosives Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2020: US$ 11,623.20 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2028 CAGR: 6.2% 2028 Value Projection: US$ 18,786.74 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Type: High Explosives, Blasting Agents.
  • By End-use Industry: Metal Mining, Non-Metal Mining, Quarrying, Construction, Others.
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:
  • Rapid growth of coal-fired power generation
  • Tapping rich mineral resources
Restraints & Challenges:
  • Cyclical nature of global mining industry
  • Stringent government regulations

Figure 1: Global Industrial Explosives Market Share (%), in terms of Value, By Region, 2020

Industrial Explosives  | Coherent Market Insights

Market Dynamics- Restraint

  1. Stringent government regulations are expected to hamper the global industrial explosive market growth over the forecast period

Industrial explosives are made of hazardous chemicals and can release toxic gases such as carbon dioxide and nitrogen oxide. Governments of many countries have imposed stringent regulations on the use and storage of industrial explosives. For instance, in 2014, the Government of Peru government stated that mineral exploration companies need to make an Environmental Impact Declaration (DIA) thereby specifying the number of explosives being used for seismic generation and mining, and their tentative impact on the environment. Therefore, these factors are expected to drive growth of the global industrial explosives market growth over the forecast period.

  1. Cyclical nature of global mining industry is expected to restrain growth of the global industrial explosives market during the forecast period

Global mining industry is cyclic in nature witnessing bust and boom on average seven to nine years. The global mining industry growth is directly proportional to global economic growth. Emerging economies such as China have witnessed slower economic growth in the recent past. Furthermore, in many countries commodity prices have witnessed a decline due to low demand for key minerals. Hence, such characters are expected to restrain growth of the global industrial explosives market during the forecast period.

Market Opportunities

  1. Research and development activities can present lucrative growth opportunities in the global industrial explosives market

Key companies are focused on research and development activities, in order to expand the product portfolio. For instance, in 2016, Orica Limited introduced the Vistis Bulk System, a high energy bulk explosive, for application in hard rock metal mines in Australia. In 2013, AEL Mining Services Ltd. launched a pneumatic-powered stope pump to convert chemicals into explosives at the blast site. Furthermore, in 2014, Maxam launched an explosive facility in Mauritania, North Africa to facilitate explosive solutions for the Tasiast gold mine.

  1. Merger and acquisition activities among market players can provide major business in the global industrial explosives market

Major players in the market are involved in merger and acquisition activities, in order to gain a significant advantage in the market. For instance, in 2011, Orica Ltd. acquired Explosives Limited (XL), a U.S.-based mining and explosives company, in order to capitalize on expected growth in the U.S. explosives market. In 2014, Enaex S.A. acquired Chemtrade, a Peru-based explosives company, to expand its footprint in the region.

Figure 2: Global Industrial Explosives Market Value (US$ Mn), 2017 - 2028

Industrial Explosives  | Coherent Market Insights

The global industrial explosives market was valued at US$ 11,623.20 Mn in 2020 and is forecast to reach a value of US$ 18,786.74 Mn by 2028 at a CAGR of 6.2% between 2021 and 2028.

Market Trends

  1. Capacity expansion and raw material supply security are key trends

The demand for industrial explosives has increased significantly in the recent past. As a result of this, manufacturers are focused on strategically expanding their capacities and operations. For instance, in 2016, Orica Limited and Yara International ASA established an ammonium nitrate manufacturing plant in Western Australia. The production capacity of the plant is to produce 330,000 tons of ammonium nitrate (AN) per annum. In 2015, Maxam established a production facility for bulk emulsion solutions in Ogdensburg, New York. Moreover, in 2013, the Dyno Nobel Pty Limited established a new production plant for ammonia in Waggaman, Louisiana with an 800,000 metric tons per annum capacity.

  1. Novel product offerings and mining solutions is another key trend

Key manufactures of industrial explosives are focusing on product differentiation through innovation by means of investments in Research & Development, value-added product launches, and by exploring novel applications. Major players are focusing on offering high energy explosives, rock fragmentation explosives, and explosives for underwater applications. For instance, in 2014, EXSA S.A. launched an innovative and cost-effective technology, Quantex, which reportedly reduces the cost of rock fragmentation in open-pit mining and construction activities.

Global Industrial Explosives Market- Impact of Coronavirus (Covid-19) Pandemic

Due to Covid-19 pandemic, many industries witnessed significant shift in their business. Due to disruption in the supply chain, metal manufacturers faced difficulties in sourcing of raw material, build trucks and ships that transport goods to consumers. The metal industries have cut discretionary and capital spending in order to support manufacturing operations. Disruptions lead to the huge financial crisis in the industries. For instance, according to World Steel Association data, The US produced 7.2 Mt of crude steel in March 2020, a decrease of 6.0% compared to March 2019. Furthermore, Russia estimates 5.9 Mt of crude steel production in March 2020, down 4.4% on March 2019. Due to supply chain disruptions and reduced demand, the market has negatively impacted.

Value Chain Analysis

Industrial Explosives  | Coherent Market Insights

Competitive Section

Major companies operating in the global industrial explosives market are 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.

Key Developments

  1. Major companies are focused on partnership and collaboration, in order to expand the market presence. For instance, in November 2019, Orica Limited patterned with Epiroc Rock Drills AB to develop a semi-automated explosives delivery system.
  2. Key players are involved in partnership and collaboration, in order to gain a competitive edge in the market. For instance, in June 2018, EURENCO partnered with Solar Industries India Limited for the supply of explosives, propellants, and transfer of technology project.

Industrial explosives are chemical mixture which are made up of hydrogen, carbon, oxygen and nitrogen. Industrial explosives are used for blasting in quarrying, mining and construction industries. When initiated, industrial explosives gets converted into gases at high temperature and pressure. The process of initiation is known as detonation and leads to rock fragmentation. On the basis of type, industrial explosives are classified based on their cap sensitivity into high explosives and blasting agents.

Market Dynamics

Increasing demand from construction and mining sector are expected to be major factor driving the market growth during the forecast period. According to Coherent Market Insights’ analysis, global construction industry is expected to be valued at US$ 15 trillion by 2025, increasing from US$ 8 trillion in 2012. Developments in mining and construction industry has created lucrative opportunities for the market growth. Furthermore, the ongoing developments in the commercial, and residential and transportation sectors has increased the demand for industrial explosives. Governments of many countries have imposed stringent regulations on the use and storage of industrial explosives. For instance, in 2014, the Government of Peru stated that mineral exploration companies need to make an Environmental Impact Declaration (DIA) thereby specifying the number of explosives being used for seismic generation and mining, and their tentative impact on the environment.

Market Taxonomy

This report segments the global industrial explosives market on the basis of type, end-use industry and region. On the basis of type, the global industrial explosives market is segmented into High Explosives, Blasting Agents. On the basis of end-use industry the global industrial explosives market is segmented into Metal Mining, Non-Metal Mining, Quarrying, Construction and Others. On the basis of region, the global industrial explosives market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global industrial explosives market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global industrial explosives market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global industrial explosives market are 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.
  • The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global industrial explosives market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global industrial explosives market.

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
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • Orica Limited*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • 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.
    • Exsa S.A.

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Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By End-use industry
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New System Launch/Approval
  4. Global Industrial Explosives Market - Impact of Coronavirus (Covid-19) Pandemic
    • Short Term and Long Term Impact, By Region
      • North America
      • Latin America
      • Europe
      • Asia-Pacific
      • Latin America
      • MEA
  5. Global Industrial Explosives Market, By Type, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • High Explosives
      • Introduction
      • Market Size and Forecast, 2021–2028, (US$ Million)
    • Blasting Agents
      • Introduction
      • Market Size and Forecast, 2021–2028, (US$ Million)
  6. Global Industrial Explosives Market, By End-use industry, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Metal Mining
      • Introduction
      • Market Size and Forecast, 2021–2028, (US$ Million)
    • Non-Metal Mining
      • Introduction
      • Market Size and Forecast, 2021–2028, (US$ Million)
    • Quarrying
      • Introduction
      • Market Size and Forecast, 2021–2028, (US$ Million)
    • Construction
      • Introduction
      • Market Size and Forecast, 2021–2028, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2021–2028, (US$ Million)
  7. Global Industrial Explosives Market, By Region, 2017-2028  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2028 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By End-use industry, 2021–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By End-use industry, 2021–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By End-use industry, 2021–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By End-use industry, 2021–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By End-use industry, 2021–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • GCC Countries
        • South Africa
  8. Competitive Landscape
    • Company Profiles
      • Orica Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Irish Industrial Explosives Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      •  Dyno Nobel Pty Limited/ Incitec Pivot Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NOF Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      •  AEL Mining Services Ltd. / AECI Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      •  EURENCO
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      •  Enaex S.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      •  Austin Powder Holdings Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Maxamcorp Holding S.L.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      •  Exsa S.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

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Frequently Asked Questions

The global industrial explosives market size was valued at US$ 11,623.20 million in 2020 and is estimated to exhibit a CAGR of 6.2% between 2021 and 2028
Blasting Agents, segment held the major market share in 2020 owing to extensive use in construction, mining and military applications.
Major factor driving the growth of the market during the forecast period is rapid growth of coal-fired power generation.
Major factor hampering the growth of the market during the forecast period is cyclical nature of global mining industry
Asia-Pacific industrial explosives market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are 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.
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