[FURL=https://www.industryarc.com/Report/18222/industrial-explosives-market-research-analysis-report.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Industrial Explosives Market[/FURL] size is forecast to reach US$10.5 billion by 2026, after growing at a CAGR of 5.8% during 2021-2026. Industrial Explosives are high hazard blasting explosives primarily used in the mining, quarrying and construction industry. Basic components of Industrial Explosives include oxidizing agents. Ammonium nitrate fuel oil (ANFO) is one of the most widely used Nitrogen explosives. This explosive is a complex mixture of 95-96% ammonium nitrate (AN) and 4-5% liquid hydrocarbons. slurry explosive is essentially an aqueous solution of an inorganic oxidizer gelled with a carbonaceous gelling agent.Key Takeaways
Asia-Pacific dominates the Industrial Explosives Market, owing to the increasing Mining industry growth and huge construction activities in the region.
Increased domestic demand for metals and coal, for the rapid construction activities in Asian countries such as China, India aiding to the demand of Industrial explosives.
China is the world’s largest construction market with the industry forecasted to grow at an annual average of 5.2% in real terms between 2021 and 2029, according to the International Trade Administration.
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Industrial Explosives Market Segment Analysis – By Geography
Asia-Pacific region held the largest share in the Industrial Explosives Market in 2020 up to 44%. The growth is owing to the rise in demand for minerals, coal, and rare earth metals, such as gold and silver, which are present inside the earth crust. The largest consumers of explosives in industrial applications are China, the United States, the Commonwealth of Independent States, and Central and South America. It is estimated that the Coal mining is by far the largest consuming sector for industrial explosives, accounting for just under 40% of total consumption globally. Production of stone for construction and production of cement from quarrying operations accounts for an additional 16% of the world mining market for explosives. Russia hosts one of the world’s largest mineral resources, its mining sector is an important supplier for the global economy.
Industrial Explosives Market Drivers
Increasing Demand for Earth Minerals
Huge Investments in Mining sector globally
Industrial Explosives Market Landscape
Industrial Explosives Market top companies are AECI Ltd, Austin Powder Company, EPC Groupe Inc, Tec Pivot Limited, Irish Industrial, Explosives Ltd, Keltech Energies Ltd, Maxam Corp, NOF Corporation, Orica Ltd, Sigdo Koppers S.A., Solar Industries India Ltd. and others.
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