Industrial Explosives Focuses Global Market : Industry Analysis, Trends, Growth, Demand, Report, Overview and Forecast Till 2022
Research Beam study says Industrial Explosives Market was valued at $10,180 million in 2015 and is expected to garner $15,888 million by 2022, registering a CAGR of 6.7% 6.7% during the forecast period 2016 to 2022, Request Sample Copy @ http://www.researchbeam.com/industrial-explosives-market/request-sample
Research Beam added report on “World Industrial Explosives Market Overview, Analysis, Demand, Report, Trends, Growth and Research – Industrial Explosives Market by Type (High Explosives, ANFO, Emulsions and Others), End-use Industry (Metal Mining, Non-Metal Mining, Quarrying, Construction and Others) – Global Opportunity Analysis and Industry Forecast, 2014-2022”
The choice of industrial explosive for a particular task depends on some major parameters including velocity of detonation, detonation pressure, effective energy, density, water resistance, sensitivity, and storage life. Industrial explosives are loaded into the blast hole or pit through a truck in large quantities, and are detonated using any high explosive having a higher sensitivity. The global industrial explosives market has witnessed vivid opportunities due to rapid increase in mining activities especially in the developing economies across the globe. In the year 2014, China produced around 4,017,920 kilotons of coal and this number is anticipated to witness a smooth growth due to increase in demand for coal in thermal power production, especially in the developing economies. Thus, increase in mining activities across the globe in turn fuels the market growth, which is projected to grow with a CAGR of 6.7% from 2016 to 2022.
According to the Department of Natural Resources, Canada, “industrial explosives are high hazard blasting explosives primarily used in the mining, quarrying, and construction industry.” Industrial explosives are those substances, which when initiated efficiently, rapidly gets converted into gases at high pressure and temperature. This process of initiation of industrial explosives is known as detonation. One liter of explosive can expand up to 1,000 liters within milliseconds, and can attain a temperature range of 1500-4000°C. Industrial explosives can blast a larger amount of area as compared to conventional mechanical drills when deployed for the same task. Ammonium nitrate fuel oil (ANFO) is the most commonly used industrial explosive, which comprises 96% ammonium nitrate and 6% fuel oil. Other major explosives used in the aforementioned applications include slurries, water gels, TNT, and dynamite, among others.
Increase in mineral extraction activities along with increasing inclination of governments of various economies towards enhancing the overall mineral extraction and production capacities to boost their relative GDPs in the competitive global market has fuelled the demand for industrial explosives. In addition, increasing demand for industrial explosives in open pit mining due to rising demand for various building materials and construction stones, especially from Europe, Latin America, and Asia-Pacific is another key factor propelling the growth of the global industrial explosives market. However, factors such as rapid fluctuations in raw material prices and high cost of high explosives restrict their use in various end-use industries along with limitations in transportation are some key elements hampering the growth of the global industrial explosives market. In addition, Asia-Pacific is projected to register significant growth as compared to the saturated markets of North America and Europe. The amount of industrial explosives used in mining is expected to increase, owing to the rise in the demand for mineral extraction across the globe, thus fueling the overall growth of the industrial explosives market.
Top investment pockets
The mining segment dominated the global market in 2015, accounting for a market share of 81.7%, and is expected to maintain this trend throughout the forecast period due to increasing mineral extraction and demand for rare earth metals such as gold and silver. Moreover, coal, being the most overrated fuel, is another commodity accounting for the rapid growth of mining industry across various regions. Moreover, construction segment is projected to exhibit significant growth rate during the forecast period. The adoption of industrial explosives for tunnelling and highway construction is driven by ease of availability of industrial explosives and increasing awareness among construction professionals for using industrial explosives as an alternative for mechanical drills to save cost, money, and time.
INDUSTRIAL EXPLOSIVES MARKET KEY BENEFITS
- The report provides an extensive analysis of the current and emerging market trends and opportunities in the global industrial explosives market.
- The report necessitates the detailed qualitative and quantitative analysis of the current market estimations for the forecast period of 2014‐2022, which assists in evaluating the prevailing market opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the global industrial explosives market is provided in the report.
- Market estimations and forecast provided in this report have been derived by analysing the factors affecting the growth of the market and future market potential from 2014 to 2022 in terms of value and volume.
- Region-specific and country-specific analyses of the market value and volume based on primary as well as secondary sources are comprehensively analysed in this report.
- Competitive intelligence of leading producers and suppliers of the industrial explosives market helps in understanding the competitive scenario across geographies.
- Extensive analysis of the market is conducted by following key product positioning, and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favourable growth.
- The report furnishes key insights on strategic analysis of various companies as well as value chain of industrial explosives.
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