Industry Outlook and Trend Analysis
The global Mining Explosives Market was worth USD 13.12 billion in 2014 and is expected to reach approximately USD 16.31 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 2.45% during the forecast period. Developing demand for ammonium nitrate and dynamite is foreseen to drive the mining explosives market over the estimate time frame. Advancements in technology are focused around diminishing loss of mineral extraction which give enhanced control over rock fragmentation size and smashed rock bulk density and empowers unrivalled move measurements without vibration impacts in underground mines. Prospects for development in the mining explosives industry are profoundly dependent on the mining and metal extraction industry. Electronic detonators are a rising innovation which is gaining prominence in the mining explosives market. Expanding infrastructural cost is a limitation of the mining explosives market. Rising investments in the mining explosives market is foreseen to become internationally attributable to the expanding importance of inventory network in extending a nation's development.
Type Outlook and Trend Analysis
In terms of type, the mining explosives market is segmented into ammonium nitrate explosives (powder form), ANFO and emulsion explosives. Ammonium nitrate explosives are one of the biggest segments in the mining explosives market.
Application Outlook and Trend Analysis
Based on application, the market is isolated by quarrying and non-metal mining, and metal mining. Quarrying and non-metal mining is relied upon to be the prevailing fragments in the mining explosives showcase over the estimate time frame. Increment being used of digging explosives for formative tasks and passage development is driving the quarrying and non-metal fragment in the mining explosives showcase.
Regional Outlook and Trend Analysis
Geographically, the mining explosives market is sectioned into North America, Europe, Asia-Pacific, Latin America, and Middle East &Africa. Middle East & Africa represented the biggest share of the mining explosives market in 2015 and it is foreseen to continue dominating over the forecast period. South Africa has one of the major shares of the market in the mining explosives market in Middle East & Africa. Rising number of developmental projects and mineral extractions are boosting the market growth in this region. The abundant mineral deposit in South Africa is boosting the growth of the mining explosives market.
The leading players in the market are Solar Industries India Limited, Gezhouba Group, Yunnan Mianbao, Anhui Jiangnan Chemical Industry Co Ltd and NOF CORPORATION. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Mining Explosives market is segmented as follows-
Quarrying & Non-Metal Mining
Ammonium Nitrate Explosives
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?