Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Detonator Market.
The Global Detonator Market is expected to be valued at USD 1450.3 Million by 2030, with a CAGR of 1.90% during the forecast period (2022–2030).
The report covers segmentations and drivers for a better glimpse of the market in the coming years. A detonator is a device used to trigger an explosive instrument. The detonator is also called an initiation system and can be initiated by chemical, mechanical, and electronic systems. Detonator consist of small explosives, with low ignition temperatures, which provide the activation energy to start the detonation in the main charge. There are three types of detonators namely electric, non-electric, and electronic.
Some of the prominent players in the global detonator market are Sichuan Yahua Industrial Group CO., LTD (China), Enaex (Chile), BME South Africa (South Africa), Sasol (South Africa), Austin Detonator (Czech Republic), Orica Limited (Australia), Dyno Nobel (US), AEL Intelligent Blasting (South Africa), and MAXAM (Australia), and Poly Permanente Union Holding Group Limited (China)
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Orica Limited strategizes to improve its management structure to increase its global presence. It focuses on brand advertisements and expanding its diversified product business. The company plans to increase its investments in research and development to cater to the growing industrialization activities, across the globe. Additionally, it also focuses on regular developments by introducing products and expanding its global footprint through strategic mergers and acquisitions to enhance its position in the global market.
Dyno Nobel focuses on factors such as product and service quality, scope of products and services, and response time to cater to the specific requirements of its clients. It concentrates on product development as a strategy to enhance its product portfolio to cater to a wider range of applications. The company has been working on improving its production process, optimizing its distributor network, and investing in research and development to improve its flexibility, integrity, and product quality and achieve customer satisfaction.
The global detonator market is segmented based on type, and application.
On the basis of type, the non-electric detonator segment is expected to dominate the market. Non-electric detonator systems have been used in the explosive industry for many years through cap and fuse methods. Fully non-electric detonator initiation systems were introduced to offer all the advantages proposed by electric detonators, along with the added safety benefits of radio frequency energy, insensitivity to electricity, and electromagnetic radiation. Moreover, these non-electric detonators can provide several delays during the blasting operations owing to their ease in designing larger initiation sequences, which ultimately results in improved operational flexibility. Thus, it is expected to increase the demand for non-electric detonator in detonator market during the forecast period.
On the basis of application, the coal mines segment is expected to dominate the market. The increasing mining sector in countries, such as India and China, are expected to offer promising growth opportunities for the coal mines segment during the forecast period.
Geographic analysis of the global detonator market spans across North America, Europe, Asia Pacific (APAC), and rest of the world.
In 2018, Asia-Pacific was the leading market with a market value of USD 288.10 million. The regional market value is expected to reach USD 334.5 million by 2025 with an impressive 2.25% CAGR during the forecast period.
The region has emerged as one of the highest consumers of metals, coal, and minerals due to the rapid urbanization and infrastructure development, demand for efficient power generation, and growth in manufacturing, food processing, and chemical industries. Thus, the demand for various metals and coal is increasing all over the region, which is expected to drive the demand for detonators that are used for extracting metals and coal through the forecast period.
In 2018, North America held the second-largest market share in the detonator market. The growth of the detonator market in North America is estimated to witness a tremendous pace, owing to the growing construction, mining, and blasting activities in this region. The high demand for precious and base metals and the increasing exploration activities are expected to drive the growth of the mining industry in North America, and, consequently, increased the demand for detonators in the region. According to the WEO, Special Report: Offshore Energy Outlook 2017, in 2016, in North America, the total investments in the mining industry accounted for approximately USD 112 billion. In 2018, the regional market was valued at USD 120.57 million, which is expected to reach USD 133.48 million by 2025 with a 1.56% CAGR during the forecast period.
Europe is the fastest-growing region in the global detonator market. The stringent government rules and regulations are the main factors for the growth of the detonator market in the region. Under the directive 2014/28/EU, the European Union (EU) made available explosives for civil use, which is expected to enhance the demand for detonators for residential and commercial applications. The regional detonator market is expected to be valued at USD 58.31 million by 2025 at a CAGR of 1.03% during the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.