Industrial Explosives Market Scope
Industrial explosives are the reactive substance which contains high amount of potential energy. This potential energy produces explosion when released suddenly. The explosion is accompanied by light, heat, sound and pressure. There are three different types of industrial explosives which are Chemical, Mechanical and Nuclear. The mechanical ones are used in mining, Nuclear explosive is used in petroleum extraction processes and the chemical explosives are used in all explosive applications in engineering. Moreover, one liter of explosive expands to 1000 liters in mili seconds attaining the temperature of 1500-4000 degrees.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | AECI Ltd. (South Africa), Austin Powder Company (United States), EPC Groupe (France), Incitec Pivot limited (Australia), Irish Industrial (Ireland), Keltech Energies Ltd. (India), Maxam Corp. (Spain), NOF Corporation (Japan), Orica Ltd. (Australia) and Sigdo Koppers S.A. (Chile) |
CAGR | 20.3% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Industrial Explosives market throughout the predicted period.
AECI Ltd. (South Africa), Austin Powder Company (United States), EPC Groupe (France), Incitec Pivot limited (Australia), Irish Industrial (Ireland), Keltech Energies Ltd. (India), Maxam Corp. (Spain), NOF Corporation (Japan), Orica Ltd. (Australia) and Sigdo Koppers S.A. (Chile) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Solar Industries India Ltd. (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Industrial Explosives market by Type , by Application (Mining, Metal Mining, Non-metal Mining, Quarrying, Construction and Others) and Region with country level break-up.
On the basis of geography, the market of Industrial Explosives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
On 18th march 2020, AECI has finalized the acquisition of explosive business in Brazilian state for USD 6.3 million. This business was acquired on certain conditions being fulfilled
Influencing Trend:
Growing Construction Sector in Developed Economies
Market Growth Drivers:
Increasing Usage of Blasting Agents Such as Ammonium Nitrate Fuel Oil, Emulsions and Slurries and Upsurge in Demand for Earth Metals such as Bauxite, Iron Ore, and Coal
Challenges:
Fluctuations in Prices of Raw Materials May Hamper the Market
Restraints:
Lockdown Imposed by Governments Due to COVID 19 Pandemic has Stopped the Industrial Activities. This is Having Negative Impact on the Market
Opportunities:
Initiatives by Governments to Rich Underground Mineral Resources for Achieving Pace in Growing Competition and Increase in Per Capita Disposable Income which Increases the Demand of Precious Metals such as Gold and Silver
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organizations and Others