The global market for Explosives is projected to reach 30 million metric tons by 2024, driven by the recovery of the construction industry in most countries worldwide and improving defense orders for ammunition products against the backdrop of increased defense and military spending supported by strong global focus shed on homeland security and counter terrorism strategies. Market growth also stands to benefit from developments in explosives technologies; increasing focus on performance testing of explosives; much awaited turnaround of the mining industry after a prolonged period of slump and the resulting increased demand for bulk emulsion explosives in mining operations; growing use of electronic detonators in mining operations given their enhanced vibration control benefit; strong focus on the development of next-generation explosives featuring more detonating power and energy, high levels of safety and reduced pollution; growing focus on safety in military training and the ensuing demand for less dangerous insensitive munitions explosives; growing global demand for energy, the resulting increase in coal-fired thermal power plants and the ensuing demand for explosives in coal mining. The acute need for safer explosives given the inability of most of the currently available high energetic explosives and propellants to meet safety needs, is encouraging R&D investments in explosive materials which are less sensitive to impact, spark and friction and therefore more safer. Led by China, Asia-Pacific ranks as the largest and the fastest growing market with a CAGR of 6% over the analysis period. In China, growth will be led by demand for explosives in the country’s massively developing industrial sector. In other developing Asian economies, growth will be supported by encouraging civil works and infrastructure projects such as tunnel constructions.


 
Company and Industry News & Stories
  • Rhône to Acquire 45% Stake in MAXAM from Advent International in a Move to Focus on its Core Business
  • Orica Enters into a Joint Venture Agreement with Jiulian Development in a Bid to Create New Civil Explosives, Initiating Systems and Blasting Services Company in China
  • BME Expands into the US with AXXIS Electronic Detonators, Highly Stable Emulsion Formulations
  • Enaex Acquires Majority Stake in Cachimayo Plant in a Move to Become One of the Greatest Ammonium Nitrate Producers, Worldwide
  • SOLAR Partners with EURENCO to Supply Explosives and Propellants in the Indian Market

Outlook in Key Market Segments
  • Blasting Agents ranks as the largest market supported by robust demand for efficient and cheaper explosives, particularly from mining applications.
  • Through 2024, Mining will remain the largest end-use market, followed by Construction sector in the U.S.

Product Definition & Scope
  • Explosive is a blended chemical substance that experiences quick change on reacting with host of external elements such as friction, high temperature, impact, or shock. More often than not, explosives are custom packed for different end-uses, without exposing the chemical mixture to the agents that may trigger explosion.

Timeline for Analysis
  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

Geographic Markets Analyzed
  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico and Rest of Latin America)

Market Segmentation & Classification
  • Product Segments:
    • Blasting Agents, and Other Explosives.
  • End-Use Applications:
    • Mining (Coal, Mineral, & Metal), Construction, and Others.

Major Players
  • Chemring Group PLC
  • EPC Groupe
  • Hanwha Corporation
  • Incitec Pivot Limited
  • MaxamCorp.
  • Holding, S.L.
  • Orica Ltd.
  • TITANOBEL SAS
  • Solar Group

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