Detonator Market is expected to rise at a CAGR of 1.90%, with a value of USD 1450.3 million over the estimated 2022-2030
In addition, the global detonator market is expected to rise at a CAGR of 1.90%, with a value of USD 1450.3 million over the estimated 2022-2030.
The increasing demand for residential space is one of the most substantial factors driving the global detonator market growth in the upcoming years. Besides, mining activities also play an important role in expanding the market. In addition, the development in technology enables manufacturers with efficient equipment for the manufacturing of explosives.
Detonators play a huge role in the chemical industries that serve the construction industry, oil and gas, and mining sectors. The demand for the detonator market trends directly depends on the end-use industries. The construction industry has been affected considerably due to the delay caused due to the spread of the global epidemic. However, the demand for coal has also decreased due to the global pandemic. There was a downfall of 8% in the first quarter of the year compared to the first quarter of the current year. In addition, the strict rules and regulations implemented by the government of numerous regions are estimated to decrease the growth of the global market.
The key players of the global detonator market are Orica Limited (Australia), Dyno Nobel (US), AEL Intelligent Blasting (South Africa), and MAXAM (Australia), Poly Permanente Union Holding Group Limited (China), Sichuan Yahua Industrial Group CO., LTD (China), Enaex (Chile), BME South Africa (South Africa), Sasol (South Africa), and Austin Detonator (Czech Republic).
The increased spending on the defense industry and the defensive activities by the global governing bodies, and the growing arms and ammunition sector are likely to spur the explosives and pyrotechnics industry. Countries like India, the United States and China have also increased their overall spending on arms and ammunition to strengthen their armed forces.
In addition, the technological advancements and the necessity of smart weapons may subsequently propel the explosives and pyrotechnics market growth. The need for safer explosives to replace the higher energetic explosives and propellants to meet safety needs is prompting the manufacturers of the military as well as the defensive equipment on a large scale.
The global detonator market is segmented based on type, and application.
On the basis of type the global detonator market is divided into non-electric, electronic, and electric. The non-electric segment held the largest market share in 2019 as this segment has been witnessing significant growth in the demand for detonators owing to precise timing, reduced vibrations, and reduced sensitivity.
On the basis of application, the global detonator market is segmented into coal mines, metal mines, non-metal mines, and others. The coal mines segment is expected to hold the maximum market share, due to increase in demand for coal in various industries. This is expected to increase the demand of coal mines in detonator during the forecast period.
On the basis of region, the global detonator market is segmented into North America, Europe, Asia-Pacific (APAC), and the rest of the world.
Global Detonator Market, by Region, 2019
Source: MRFR Analysis
Asia-Pacific is expected to witness excellent growth in the detonator market, owing to the demand for various metals and coal. 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.
China is one of the major producers of detonators in Asia-Pacific. Coal and metal consumption have increased to meet the high demand for industrial production and power generation. Coal is the primary source of energy as two-thirds of the country’s electricity is produced by coal-fired plants. Additionally, consumer goods, automotive, manufacturing, and processing industries, require metals in very high quantities, driving the demand for detonators all over the country.
The global detonator market has been segmented on the basis of type, application, and region. On the basis of type, the global detonator market is segmented into electric detonators, non-electric detonators, and electronic detonators. The non-electric detonators segment is expected to dominate the market, due to precise timing, reduced vibrations, a reduced sensitivity.
|Market Size||2030 : USD 1450.3 Million|
|CAGR||1.90% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Orica Limited (Australia), Dyno Nobel (US), AEL Intelligent Blasting (South Africa), and MAXAM (Australia), Poly Permanente Union Holding Group Limited (China), Sichuan Yahua Industrial Group CO., LTD (China), Enaex (Chile), BME South Africa (South Africa), Sasol (South Africa), and Austin Detonator (Czech Republic)|
|Key Market Opportunities||
|Key Market Drivers||
1.90% is the CAGR recorded for the detonator market.
Asia-Pacific is going to lead in the detonator market.
In 2022, the North America region has the second largest market share in the detonator market.
The continuous rising mining and infrastructure development are the factors creating lucrative opportunities for the detonator market.
The type and application are the segments of the detonator market.
North America, Europe, Asia-Pacific (APAC), are the regions grossing on the top in the detonator market.
The Asia-Pacific region is to witness remarkable growth in the detonator market.