Industrial Explosives Market - Global Industrial Explosives Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Type Coverage, By End-use Industry Coverage, By Geographic Coverage and By Company)
The global industrial explosives market, valued at US$7.8 billion in 2022, is poised for significant expansion, with projections soaring to US$11.6 billion by 2030. This substantial growth, estimated to exhibit a Compound Annual Growth Rate (CAGR) of 5.9% between 2023 and 2030, is attributed to various factors driving market development.
Driving Forces Behind Market Expansion
1. Mining Activities and Demand for Rare Earth Metals: The surge in mining activities and the growing demand for rare earth metals such as bauxite, gold, iron ore, silver, and surface minerals across multiple industrial sectors are key drivers propelling the market's growth.
2. Government Initiatives Supporting Industrial Explosives Use: Favorable measures implemented by government authorities worldwide to promote the use of industrial explosives for extracting valuable underground mineral resources have contributed significantly to market development.
3. Technological Advancements and Strategic Alliances: The development of semi-automated explosive delivery systems, facilitated by strategic alliances among key stakeholders and rapid technological advancements, has enabled safer and more effective blasting of deeper deposits in underground mines.
Challenges and Opportunities Ahead
1. Regulatory Restrictions and Price Fluctuations: Strict regulations on the storage and transportation of industrial explosives, coupled with fluctuating ammonia prices, pose challenges to market growth. Additionally, high initial manufacturing expenses present obstacles to market expansion.
2. Growing Need for Earth Minerals: The increasing demand for rare-earth elements (REEs) in high-tech industries and green technologies presents opportunities for market growth, driven by the mining industry's expansion.
3. Regional Dynamics: North America is expected to lead the global industrial explosives market, propelled by strict government regulations and the demand for precious metals. Meanwhile, the Asia Pacific region, particularly China, India, and Australia, will witness significant growth driven by low labor costs and abundant earth resources.
Leaders in the Global Industrial Explosives Market
NOF Corporation, Enaex S.A., Orica Limited, Dyno Nobel, African Explosives Limited, Maxam Corp Holdings, Irish Industrial Explosives Ltd, BME Mining, LSB Industries, Austin Powder Company, Solar Industries India Limited, Sichuan Yahua Industrial Group Co., Ltd., Ideal Industrial Explosives Limited, Eurenco S.A., and AECI Limited are among the leading players shaping the global industrial explosives space.
Global Industrial Explosives Market is Segmented as Below:
By Type
• High Explosives
• Blasting Agents
o Ammonium nitrate fuel oil (ANFO)
o Water gel explosives
o Emulsions
o Nitrogen explosives
o Others
By End-use Industry
• Mining
o Metal Mining
o Non-metal Mining
o Quarrying
• Construction
• Others
By Geographic Coverage:
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Turkey
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o South Korea
o India
o Southeast Asia
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Argentina
o Rest of Latin America
• Middle East & Africa
o GCC
o South Africa
o Egypt
o Nigeria
o Rest of Middle East & Africa
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- 1. Executive Summary
- 1.1. Global Industrial Explosives Market Snapshot
- 1.2. Future Projections
- 1.3. Key Market Trends
- 1.4. Regional Snapshot, by Value, 2022
- 1.5. Analyst Recommendations
- 2. Market Overview
- 2.1. Market Definitions and Segmentations
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
- 2.3. Value Chain Analysis
- 2.4. Porter’s Five Forces Analysis
- 2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
- 2.6. Impact of Ukraine-Russia Conflict
- 2.7. Economic Overview
- 2.7.1. World Economic Projections
- 2.8. PESTLE Analysis
- 3. Global Industrial Explosives Market Outlook, 2018 - 2030
- 3.1. Global Industrial Explosives Market Outlook, by End-use Industry, Value (US$ Bn), 2018 - 2030
- 3.1.1. Key Highlights
- 3.1.1.1. Mining
- 3.1.1.1.1. Metal Mining
- 3.1.1.1.2. Non-metal Mining
- 3.1.1.1.3. Quarrying
- 3.1.1.2. Construction
- 3.1.1.3. Others
- 3.2. Global Industrial Explosives Market Outlook, by Type, Value (US$ Bn), 2018 - 2030
- 3.2.1. Key Highlights
- 3.2.1.1. High Explosives
- 3.2.1.2. Blasting Agents
- 3.2.1.2.1. Ammonium Nitrate Fuel Oil (ANFO)
- 3.2.1.2.2. Water Gel Explosives
- 3.2.1.2.3. Emulsions
- 3.2.1.2.4. Nitrogen Explosives
- 3.2.1.2.5. Others
- 3.3. Global Industrial Explosives Market Outlook, by Region, Value (US$ Bn), 2018 - 2030
- 3.3.1. Key Highlights
- 3.3.1.1. North America
- 3.3.1.2. Europe
- 3.3.1.3. Asia Pacific
- 3.3.1.4. Latin America
- 3.3.1.5. Middle East & Africa
- 4. North America Industrial Explosives Market Outlook, 2018 - 2030
- 4.1. North America Industrial Explosives Market Outlook, by End-use Industry, Value (US$ Bn), 2018 - 2030
- 4.1.1. Key Highlights
- 4.1.1.1. Mining
- 4.1.1.1.1. Metal Mining
- 4.1.1.1.2. Non-metal Mining
- 4.1.1.1.3. Quarrying
- 4.1.1.2. Construction
- 4.1.1.3. Others
- 4.2. North America Industrial Explosives Market Outlook, by Type, Value (US$ Bn), 2018 - 2030
- 4.2.1. Key Highlights
- 4.2.1.1. High Explosives
- 4.2.1.2. Blasting Agents
- 4.2.1.2.1. Ammonium Nitrate Fuel Oil (ANFO)
- 4.2.1.2.2. Water Gel Explosives
- 4.2.1.2.3. Emulsions
- 4.2.1.2.4. Nitrogen Explosives
- 4.2.1.2.5. Others
- 4.2.2. Market Attractiveness Analysis
- 4.3. North America Industrial Explosives Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
- 4.3.1. Key Highlights
- 4.3.1.1. U.S. Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 4.3.1.2. U.S. Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 4.3.1.3. Canada Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 4.3.1.4. Canada Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
- 5. Europe Industrial Explosives Market Outlook, 2018 - 2030
- 5.1. Europe Industrial Explosives Market Outlook, by End-use Industry, Value (US$ Bn), 2018 - 2030
- 5.1.1. Key Highlights
- 5.1.1.1. Mining
- 5.1.1.1.1. Metal Mining
- 5.1.1.1.2. Non-metal Mining
- 5.1.1.1.3. Quarrying
- 5.1.1.2. Construction
- 5.1.1.3. Others
- 5.2. Europe Industrial Explosives Market Outlook, by Type, Value (US$ Bn), 2018 - 2030
- 5.2.1. Key Highlights
- 5.2.1.1. High Explosives
- 5.2.1.2. Blasting Agents
- 5.2.1.2.1. Ammonium Nitrate Fuel Oil (ANFO)
- 5.2.1.2.2. Water Gel Explosives
- 5.2.1.2.3. Emulsions
- 5.2.1.2.4. Nitrogen Explosives
- 5.2.1.2.5. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
- 5.3. Europe Industrial Explosives Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
- 5.3.1. Key Highlights
- 5.3.1.1. Germany Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 5.3.1.2. Germany Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 5.3.1.3. U.K. Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 5.3.1.4. U.K. Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 5.3.1.5. France Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 5.3.1.6. France Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 5.3.1.7. Italy Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 5.3.1.8. Italy Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 5.3.1.9. Turkey Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 5.3.1.10. Turkey Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 5.3.1.11. Russia Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 5.3.1.12. Russia Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 5.3.1.13. Rest of Europe Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 5.3.1.14. Rest of Europe Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
- 6. Asia Pacific Industrial Explosives Market Outlook, 2018 - 2030
- 6.1. Asia Pacific Industrial Explosives Market Outlook, by End-use Industry, Value (US$ Bn), 2018 - 2030
- 6.1.1. Key Highlights
- 6.1.1.1. Mining
- 6.1.1.1.1. Metal Mining
- 6.1.1.1.2. Non-metal Mining
- 6.1.1.1.3. Quarrying
- 6.1.1.2. Construction
- 6.1.1.3. Others
- 6.2. Asia Pacific Industrial Explosives Market Outlook, by Type, Value (US$ Bn), 2018 - 2030
- 6.2.1. Key Highlights
- 6.2.1.1. High Explosives
- 6.2.1.2. Blasting Agents
- 6.2.1.2.1. Ammonium Nitrate Fuel Oil (ANFO)
- 6.2.1.2.2. Water Gel Explosives
- 6.2.1.2.3. Emulsions
- 6.2.1.2.4. Nitrogen Explosives
- 6.2.1.2.5. Others
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
- 6.3. Asia Pacific Industrial Explosives Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
- 6.3.1. Key Highlights
- 6.3.1.1. China Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 6.3.1.2. China Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 6.3.1.3. Japan Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 6.3.1.4. Japan Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 6.3.1.5. South Korea Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 6.3.1.6. South Korea Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 6.3.1.7. India Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 6.3.1.8. India Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 6.3.1.9. Southeast Asia Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 6.3.1.10. Southeast Asia Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 6.3.1.11. Rest of Asia Pacific Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 6.3.1.12. Rest of Asia Pacific Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
- 7. Latin America Industrial Explosives Market Outlook, 2018 - 2030
- 7.1. Latin America Industrial Explosives Market Outlook, by End-use Industry, Value (US$ Bn), 2018 - 2030
- 7.1.1. Key Highlights
- 7.1.1.1. Mining
- 7.1.1.1.1. Metal Mining
- 7.1.1.1.2. Non-metal Mining
- 7.1.1.1.3. Quarrying
- 7.1.1.2. Construction
- 7.1.1.3. Others
- 7.2. Latin America Industrial Explosives Market Outlook, by Type, Value (US$ Bn), 2018 - 2030
- 7.1.1. Key Highlights
- 7.2.1.1. High Explosives
- 7.2.1.2. Blasting Agents
- 7.2.1.2.1. Ammonium Nitrate Fuel Oil (ANFO)
- 7.2.1.2.2. Water Gel Explosives
- 7.2.1.2.3. Emulsions
- 7.2.1.2.4. Nitrogen Explosives
- 7.2.1.2.5. Others
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
- 7.3. Latin America Industrial Explosives Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
- 7.3.1. Key Highlights
- 7.3.1.1. Brazil Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 7.3.1.2. Brazil Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 7.3.1.3. Mexico Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 7.3.1.4. Mexico Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 7.3.1.5. Argentina Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 7.3.1.6. Argentina Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 7.3.1.7. Rest of Latin America Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 7.3.1.8. Rest of Latin America Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
- 8. Middle East & Africa Industrial Explosives Market Outlook, 2018 - 2030
- 8.1. Middle East & Africa Industrial Explosives Market Outlook, by End-use Industry, Value (US$ Bn), 2018 - 2030
- 8.1.1. Key Highlights
- 8.1.1.1. Mining
- 8.1.1.1.1. Metal Mining
- 8.1.1.1.2. Non-metal Mining
- 8.1.1.1.3. Quarrying
- 8.1.1.2. Construction
- 8.1.1.3. Others
- 8.2. Middle East & Africa Industrial Explosives Market Outlook, by Type, Value (US$ Bn), 2018 - 2030
- 8.2.1. Key Highlights
- 8.2.1.1. High Explosives
- 8.2.1.2. Blasting Agents
- 8.2.1.2.1. Ammonium Nitrate Fuel Oil (ANFO)
- 8.2.1.2.2. Water Gel Explosives
- 8.2.1.2.3. Emulsions
- 8.2.1.2.4. Nitrogen Explosives
- 8.2.1.2.5. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
- 8.3. Middle East & Africa Industrial Explosives Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
- 8.3.1. Key Highlights
- 8.3.1.1. GCC Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 8.3.1.2. GCC Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 8.3.1.3. South Africa Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 8.3.1.4. South Africa Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 8.3.1.5. Egypt Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 8.3.1.6. Egypt Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 8.3.1.7. Nigeria Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 8.3.1.8. Nigeria Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 8.3.1.9. Rest of Middle East & Africa Industrial Explosives Market by End-use Industry, Value (US$ Bn), 2018 - 2030
- 8.3.1.10. Rest of Middle East & Africa Industrial Explosives Market Type, Value (US$ Bn), 2018 - 2030
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
- 9. Competitive Landscape
- 9.1. Product vs Application Heatmap
- 9.2. Manufacturer vs Application Heatmap
- 9.3. Company Market Share Analysis, 2022
- 9.4. Competitive Dashboard
- 9.5. Company Profiles
- 9.5.1. NOF Corporation
- 9.5.1.1. Company Overview
- 9.5.1.2. Product Portfolio
- 9.5.1.3. Financial Overview
- 9.5.1.4. Business Strategies and Development
- 9.5.2. Enaex S.A.
- 9.5.2.1. Company Overview
- 9.5.2.2. Product Portfolio
- 9.5.2.3. Financial Overview
- 9.5.2.4. Business Strategies and Development
- 9.5.3. Orica Limited
- 9.5.3.1. Company Overview
- 9.5.3.2. Product Portfolio
- 9.5.3.3. Financial Overview
- 9.5.3.4. Business Strategies and Development
- 9.5.4. Dyno Nobel
- 9.5.4.1. Company Overview
- 9.5.4.2. Product Portfolio
- 9.5.4.3. Financial Overview
- 9.5.4.4. Business Strategies and Development
- 9.5.5. African Explosives Limited
- 9.5.5.1. Company Overview
- 9.5.5.2. Product Portfolio
- 9.5.5.3. Financial Overview
- 9.5.5.4. Business Strategies and Development
- 9.5.6. Maxam corp Holdings
- 9.5.6.1. Company Overview
- 9.5.6.2. Product Portfolio
- 9.5.6.3. Financial Overview
- 9.5.6.4. Business Strategies and Development
- 9.5.7. Irish Industrial Explosives Ltd
- 9.5.7.1. Company Overview
- 9.5.7.2. Product Portfolio
- 9.5.7.3. Financial Overview
- 9.5.7.4. Business Strategies and Development
- 9.5.8. BME Mining
- 9.5.8.1. Company Overview
- 9.5.8.2. Product Portfolio
- 9.5.8.3. Financial Overview
- 9.5.8.4. Business Strategies and Development
- 9.5.9. LSB INDUSTRIES
- 9.5.9.1. Company Overview
- 9.5.9.2. Product Portfolio
- 9.5.9.3. Financial Overview
- 9.5.9.4. Business Strategies and Development
- 9.5.10. Austin Powder Company
- 9.5.10.1. Company Overview
- 9.5.10.2. Product Portfolio
- 9.5.10.3. Financial Overview
- 9.5.10.4. Business Strategies and Development
- 9.5.11. Solar Industries India Limited
- 9.5.11.1. Company Overview
- 9.5.11.2. Product Portfolio
- 9.5.11.3. Financial Overview
- 9.5.11.4. Business Strategies and Development
- 9.5.12. Sichuan Yahua Industrial Group Co., Ltd.
- 9.5.12.1. Company Overview
- 9.5.12.2. Product Portfolio
- 9.5.12.3. Financial Overview
- 9.5.12.4. Business Strategies and Development
- 9.5.13. Ideal Industrial Explosives Limited
- 9.5.13.1. Company Overview
- 9.5.13.2. Product Portfolio
- 9.5.13.3. Financial Overview
- 9.5.13.4. Business Strategies and Development
- 9.5.14. Eurenco S.A.
- 9.5.14.1. Company Overview
- 9.5.14.2. Product Portfolio
- 9.5.14.3. Financial Overview
- 9.5.14.4. Business Strategies and Development
- 9.5.15. AECI Limited
- 9.5.15.1. Company Overview
- 9.5.15.2. Product Portfolio
- 9.5.15.3. Financial Overview
- 9.5.15.4. Business Strategies and Development
- 10. Appendix
- 10.1. Research Methodology
- 10.2. Report Assumptions
- 10.3. Acronyms and Abbreviations
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