Industrial Explosives Market Size, Industry Share, Analysis, Report and Forecast 2022-27

The global industrial explosives market size reached US$ 7.22 Billion in 2021. By 2027, It will reach US$ 10.08 Billion, growing at a CAGR of 5.54% (2022-2027).

SHERIDAN, WYOMING, UNITED STATES, November 15, 2022 /EINPresswire.com/ -- The latest research study “Industrial Explosives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global industrial explosives market reached a value of US$ 7.22 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.08 Billion by 2027, exhibiting a CAGR of 5.54% during 2022-2027.

What is Industrial Explosives?

Industrial explosives represent highly hazardous blasting agents that are manufactured from the combination of hydrogen, carbon, oxygen, and nitrogen. When ignited efficiently, they transform into gases at high temperature and pressure for detonation, which causes rock fragmentation. Industrial explosives assist in eliminating toxic gas production and reducing labor costs as well as the time required for safe and efficient mining, thereby optimizing commercial operations. Consequently, they are extensively used in the quarrying, mining, and construction industry after their assessment based on several parameters, including storage life, the velocity of detonation (VOD), density, water resistance, etc. Presently, industrial explosives are commercially available in slurries, ammonium nitrate fuel oil (ANFO), emulsions, and water gel explosive types.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends and Drivers:

The rising number of mining activities and the escalating demand for coal and various rare earth metals, including gold, bauxite, iron, ore, silver, surface minerals, etc., across numerous industrial verticals are primarily driving the industrial explosives market. Additionally, the widespread product adoption in open-pit mining, tunnel construction, infrastructure development projects, etc., is further catalyzing the market growth.

Besides this, the introduction of semi-automated explosive delivery systems that aid in executing safer and more efficient underground mine blasting procedures in the deeper deposits is acting as another significant growth-inducing factor. Moreover, the growing investments in R&D activities for mass production of the product variants to optimize drilling, blasting, and downstream operations, are anticipated to fuel the industrial explosives market over the forecasted period.

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Global Industrial Explosives Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:
• AECI Limited
• Austin Powder Company
• EPC Groupe
• Incitec Pivot limited
• Irish Industrial Explosives Limited
• Keltech Energies Ltd.
• NOF Corporation
• Orica Limited
• Sigdo Koppers S.A.
• Solar Industries India Limited.

Key Market Segmentation:

The report has been segmented the market into following categories:

Breakup by Type:
• High Explosives
• Blasting Agents
o Ammonium Nitrate Fuel Oil (ANFO)
o Water Gel Explosives
o Emulsions
o Nitrogen Explosives
o Others

Breakup by End Use Industry:
• Mining
o Metal Mining
o Non-metal Mining
o Quarrying
• Construction
• Others

Breakup by Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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