The Global Blasting Stemming Plugs Market is probable to register a CAGR of 4.97% to reach USD 646.9 Million by 2023.To increase the blasting efficiency and reduce the cost incurred by the miners on blasting applications, stemming plugs are designed. Blasting stemming plugs rise the containment of gases and improve fragmentation efficiency. On account of amplified spending on mineral investigation coupled with growing demand for metals in various end-use industries including automotive, electrical and electronics, and building and construction, the rising mining industry drives the global demand for blasting stemming plugs. The mining industry observed growth in 2017 and is expected to grow at a substantial rate in the near-term years on account of an increase in the demand for minerals from emerging countries. Additionally, cumulative spending on new mining projects in different countries including Australia, Canada, Peru, and Botswana is expected to drive the growth of the global blasting stemming plugs market during the assessment period. Such as, in Australia, the BHP board permitted the spending of around USD 3.8 Billion on the South Flank iron ore project in Pilbara, Western Australia (WA) in 2018.
In addition, the blasting stemming plugs of small size are favored for construction applications, including primary tunneling and underground work. The growing construction industry due to an increase in residential and commercial construction is expected to fuel the demand for blasting stemming plugs. The increasing industrial base in the emerging markets is lashing the demand for metals mainly aluminum and lithium in the automobile industry at a substantial rate, which is expected to offer lucrative opportunities to the players operating in the global blasting stemming plugs market. However, the cumulative environmental regulations in the mining industry to prevent the contrary impact of mining activities on the environment is anticipated to hinder the global market growth. Based on material type, the market is divided into 4 parts. Among them, crushed stone chips segment is predictable to lead the market by listing a significant CAGR to reach USD 307.1 Million by the end of 2023. To boost blasting efficiency, the growth is qualified to the rise in demand for highly competent stemming materials. However, the coarse sand segment is expected to show a CAGR of 4.80% from 2018 to 2023. Based on end-use industry, the global market has been segregated into mining and construction. The mining segment likely to register 5.32% CAGR to reach USD 449.1 Million by the end of 2023 and accounted for a larger market share in 2017. The growth is attributed to the growth of the mining industry on account of augmented spending on mineral exploration coupled with growing demand for metals worldwide. However, the construction segment is anticipated to exhibit a CAGR of 4.20% during the forecast period. Projected onlookers for this market research report are Investors and trade experts, Blasting stemming plugs manufacturers, Governments, associations, and industrial bodies, Retailers, distributors, and wholesalers.
Global Blasting Stemming Plugs Market is categorized into 3 types, by material, by end-user industry and by region. Based on material it is segregated into Crushed Stone Chips, Coarse Sand, Fast Hardening Concretes and Others. Based on End-User Industry it is segregated into 2 industries, Mining and construction. Based on Region it is segregated into North America (US & Canada), Europe ( Germany, UK, Russia, France, Spain, Italy, Rest of Europe), Asia-Pacific(China, India, Japan, Australia & New Zealand, Indonesia, South Korea, Rest of Asia-Pacific) Latin America(Mexico, Brazil, Argentina, Rest of Latin America) and Middle East & Africa (Turkey, Israel, North Africa, GCC, Rest of Middle East & Africa).
Geographically, the Blasting Stemming Plugs Market has been spread regionally in North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
Companies like Paraplug (US), MOCAP (US), AMA Group (India), Superplug SA (South Africa), Stemlock, Inc (US), AECE (South Africa) and Vala Stemming Systems (South Africa) Advanced Blasting Technology Inc (US), are some eminent players in the global blasting stemming plugs market.