Global Mining Explosive Market – Summary
Mining Explosive Market Overview:
Driven by the zeal to grow as economically self-sufficient, a lot of countries have now increased their industrialization rate to an all-time high. This has put the onus mostly on the mining industry. The responsibility dictates substantial backing of the sky-rocketing needs developed by end-use industries. The astounding results are working well for the mining explosive market. Mainly of two types, low explosives which consist black powder and high explosives, these components can trigger incidents both via chemical and gaseous pyrotechnic explosions.
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The global mining explosive market is expecting an escalation up to USD 12,729.4 million during the forecast period (2018-2023) with a 6.38% CAGR. Based on volume, the mining explosive market growth can set an eye for a worth of USD 18,261.3 kilotons by the end of 2023. Market Research Future (MRFR) in a comprehensive study includes several aspects such as drivers and segmental analysis topped with expert inputs for predictive analysis of the market in the coming years.
The coal industry promises good traction for the mining explosive market. Globally, 40% of the power produced comes from coal, and the supply is ever on the rise to support the demand curve. Mineral extraction can also be counted as a chief market influencer. The demand for minerals is witnessing an unprecedented rise. Increasing disposable income supports the rising demand for metallic commodities. Booming industries are also providing a much larger horizon where the said market can expand its operation. Increasing mining activities in countries such as Mexico, China, Russia, Kazakhstan, and Turkey are fast becoming desired destinations for the market behemoths. Infrastructural progress is also providing sufficient leverage to the market and the coming years are to expect further growth for mining explosives.
On the flip side, governments had imposed stringent regulations regarding production which can put a leash on mining activities, thus, affecting the mining explosive market. A significant rise in the waste has triggered unfavorable responses from environmentalists who are also fighting for the health-benefits of the workers in such sites. Meanwhile, companies are setting up advanced protocols to support workers which can steer back the market on its original chart.
Segmentation:
Type-wise, the global mining explosive market includes ammonium nitrate fuel oil (ANFO), ammonium nitrate explosives, bulk emulsion explosives, cartridge emulsion explosives, and others. ANFO segment rules the market with a valuation as per 2017, tagged at USD 2,933.5 million.
Based on the application, the mining explosive market comprises coal mining, metal mining, quarry, and nonmetal mining. Coal mining segment is in the charge with USD 5,232.5 million worth in 2017.
Regional Analysis:
Region-specific understanding of the global mining explosive market reveals details regarding North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Asia (MEA). As per the report of 2017, the APAC market was leading the global market with 45.3% share. The regional market is projected to scale USD 6,025 million valuation by the end of 2023. North America was in the second position, and the margin was considerable. It has 19% of the market share, and by 2023, it can fetch USD 2,458.9 million. Europe had a 14.8% market share which can increase and reach USD 1,768.8 million by 2023. The market contribution of Latin America and the MEA can escalate to USD 1,365.1 million and USD 1,111.6 million respectively during the same period.
Competitive Analysis:
Prominent players to get profiled in the mining explosive market report are IDL Explosives Limited (India), TITANOBEL (France), Incitec Pivot Ltd. (Australia), Pakistan Ordnance Factory (Pakistan), Hanwa Corp. (Republic of Korea), Austin Powder GmbH (Austria), Eurenco SA (France), Explosia, Inc. (Czech Republic), EPC Group (France), Holding, S.L. (Spain), Yara (Norway), NITROERG SA (Poland), Solar Industries India Ltd. (India), MAXAMCorp Orica Limited (Australia), Enaex S.A. (Chile), ANHUI JIANGNAN CHEMICAL INDUSTRY CO., LTD (China), Forcit Group (Finland), China Poly Group Corporation (China), Bulk Mining Explosives (Pty) Ltd. (South Africa), NOF Corporation (Japan), and IDEAL Industrial Explosives Ltd. (India).
Market Dynamics:
5.1 Introduction 32
5.2 Drivers 33
5.2.1 Growing Demand From Coal Industry Is Expected To Augment The Market Growth 33
5.2.2 Increasing Mineral Extraction Activity 34
5.2.3 Rising Infrastructure Activity Led To Strong Increase In Demand For Mining Explosives In Quarrying Operation 34
5.3 Drivers Impact Analysis 35
5.4 Restraints 35
5.4.1 Stringent Regulatory Environment, Mining Exploration Waste Pollutants And Workplace Effect On Health Is Expected To Hamper The Growth Of The Mining Explosive Market 35
5.4.2 Restraints Impact Analysis 36
5.5 Opportunities 36
5.5.1 Rising Investment Across Explosives Application Industry 36
Market Factor Analysis:
6.1 Supply Chain Analysis 38
6.1.1 Raw Material Suppliers 38
6.1.2 Mining Explosive Manufacturers 39
6.1.3 Distribution Channel 39
6.1.4 End Use Industry 39
6.2 Porter’s Five Force Analysis 39
6.2.1 Threat Of New Entrants 40
6.2.2 Threat Of Rivalry 40
6.2.3 Threat Of Substitute 40
6.2.4 Bargaining Power Of Supplier 40
6.2.5 Bargaining Power Of Buyer 40
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