Industrial Explosives Market Analysis
Industrial Explosives Market - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
The global industrial explosives market size is expected to witness potential gains in the future and register a significant CAGR of 6.6% over the forecast period (2019 - 2027).
The explosives industry uses black powder, dynamite, and other chemicals to mine for minerals, break rock, clear fields, and construct roads. Explosives are used to deliver materials such as limestone, cement, and concrete that find application in the construction industry. Explosives also find application in the oil and gas industry, power production, mineral mining and pipeline, tunnel and highway construction. There are four major classes of industrial explosives: low, or deflagrating explosives, primary, secondary high explosives, and blasting agents. Major industrial explosives include, emulsion explosives, ammonium nitrate fuel oil (ANFO), water gel explosives, and nitrogen explosives. Ammonium nitrate fuel oil (ANFO) is made of about 94% ammonium nitrate and 6% fuel oil.
ANFO explosives and water gel explosives offer high velocity of detonation. ANFO explosives consist of a water soluble ammonium substance and have a larger impact in blasting. Ammonium nitrate also has safety advantage over other products such as dynamite. ANFO is widely used as an explosive in mining, quarrying, and tunneling construction. Coal mining is the largest consuming sector for industrial explosives. Therefore, growing coal mining activities to fulfil coal demand from the energy sector is expected to boost growth of the global industrial explosives market. Increasing metal mining is also expected to boost demand for industrial explosives.
However, explosives such as nitrogen lead to adverse environmental effects from the fumes developed after using such explosives. Moreover, increasing concerns about the impact of mining on the environment is also expected to hinder growth of the market over the forecast period.
Growing building and construction industry in emerging economies of India and China is expected to increase demand for construction materials such as cement and metal. This in turn is expected to lead to high demand for industrial explosives for extraction of these materials, thereby boosting growth of the global industrial explosives market over the forecast period. Increasing mining and oil and gas extraction activities is a major factor boosting growth of the market in Middle East and Africa.
Major players operating in the industrial explosives market include, AEL Mining Services Ltd., Enaex, EPC Groupe, Gulf Oil Corporation Limited, Guizhou Panjiang Chemical Plant, Hubei Kailong Chemical Group Co., Ltd, Indian Oil Corporation Limited, and Solar Industries India Limited.
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