Mining Explosives Market Research Report—Global Forecast till 2030

Mining Explosives Market Research Report Information By Type (Bulk Explosives, Packaged Explosives and Others), By Application (Coal Mining, Metal Mining and Quarry & Non-Metal Mining), and By Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast Till 2030

ID: MRFR/CnM/5703-CR | 100 Pages | Author: Priya Nagrale | March 2023         

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Global Mining Explosives Market Overview


Mining Explosives Market Size was valued at USD 9,599.18 million in 2021. The mining explosives market industry is projected to grow from USD 10,088.74 million in 2022 to USD 17,008.4 million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.78% during the forecast period (2022 - 2030). Rising metal extraction activity and growing demand for coal are driving the market growth.
Mining Exives Market Overview


 Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Mining Explosives Market Trends




  • Growing demand for coal, representing one of the major factors to boost market growth globally.




Explosives are used to extract coal mostly from underground mines compared to surface mines. Coal is among the important and reliable energy resources covering 30% of the global energy consumption. Around 40% of globally generated power relies on this fuel. Increasing global demand for energy and the subsequent increase in the coal-fired thermal plant is expected to spur the demand for coal mining. The major coal-producing countries are China, the U.S., India, Indonesia, and South Africa. For instance, China contributes to 50% of the global coal demand and remains the world's largest consumer of coal. The global production of coal was around 3.2% in 2020, mainly due to China's transition to less energy-intensive products for power generation, the weakening of the global economy, and the flagging electricity demand in Asian countries. Apart from China, coal mining in the US continues to be the dominant use for explosives, with about 64% of total consumption in 2020. Thus, in the coming years, this might change as the US economy is shifting to gas in power plants. Furthermore, coal mining in India accounts for more than 70% of the explosive's application in 2020. The protuberant factors for the growth of coal mining are a huge investment toward extraction of coal from surface and underground mines and deploying advanced technology to extract the minerals-rich resources at a deeper level.


Bulk explosives and ammonium nitrate fuel oil (ANFO) account for more than 60% of the market share as ANFO is gaining prominence owing to its safety advantage over the other products. Higher production of coal implies a higher requirement for explosives. Sustained efforts to increase coal production for power generation, steel production, cement manufacturing, and liquid fuel are expected to gain momentum during the assessment period.


Figure 1: Asia-Pacific Coal Consumption, MT (Million Tons)
Asia-Pacific Coal Consumption, MT


Source: Statista, Annual Reports, Press Releases, MRFR Analysis 


The coal market is likely to be driven by the increased use of coal in power generation in some economies. More than 65 coal-fired power stations with a combined capacity of 50 GW could be operational in these nations by 2025. Vietnam, the Philippines, and Malaysia are also likely to see significant rises in coal consumption. Due to the volume of indigenous coal deposits and their economic attractiveness, countries such as India, China, and Indonesia, whose electricity is produced predominantly from coal, will drastically lower coal's proportion in their power mix, although not below 35 percent. The coal market will be driven by the sustained need for coal in power generation around the world and the increasing share of coal in power generation in some regions. This, in turn, is expected to increase the growth of the mining explosives market revenue over the forthcoming years.


Mining Explosives Market Segment Insights


Mining Explosives Type Insights


The Mining Explosives  Market segmentation, based on type, includes bulk explosives, packaged explosives and others. The packaged explosives segment held the majority share in 2021 contributing to around ~68.30% with respect to the Mining Explosives  Market revenue. This is primarily owing to the rising construction activities along with high demand for energy in the industrial sector are expected to propel market growth. For instance, as per the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, in November 2022, around 1,342,000 privately‐owned housing units have received building permits, and 1,427,000 housing units started construction in the United States. The growing construction activity owing to the rise in population is accelerating the growth of mining explosives during the forecast period.


Figure 2: Mining Explosives  Market, by Type, 2021 & 2030 (USD Million)
Mining Explosives  Market, by Type, 2021 & 2030


December 2019 MAXAM collaborated with Minera Lomas Bayas, operated by Glencore in Chile, as a blasting solutions provider, in which MAXAM supply RIOFLEX, its high-energy bulk explosives, among other solutions. With this contract, MAXAM continues to expand its operations and global presence.


In October 2019 MAXAM complemented the high performance of dynamite, RIODIN, along with the development of cartridge explosives products. MAXAM has developed RIOTECH, which has become a new generation of cartridge explosives and is available in Spain.


Mining Explosives Application Insights


Based on End-Use Industry, the global mining explosives industry has been segmented into into coal mining, metal mining and quarry & non-metal mining. The coal mining held the largest segment share in 2021, owing to the rise in private as well as public investments in infrastructural sectors. Also, growing M&A among coal-producing companies are gaining high prominence in the mining industry. China, the U.S., and India are the largest consumers of coal. Moreover, increasing penetration of coal-fired thermal power plants in these countries is likely to boost market growth.


The second fastest-growing segment in the mining explosives industry is metal mining. Population growth continued industrialization, and the challenge to meet global demand for special commodity products are expected to play a key role in shaping the metal mining sector.


In April 2021 Austin Powder introduced its explosives production to a new level with the modernization of its HMX plant in Rafaela. Austin can produce a new “Class 5” granulometry product (micronized) required for shock tube manufacturing. Class 5 HMX was developed in Rafaela Plant in partnership with a customer & competitor in the explosives industry.


Mining Explosives  Regional Insights


By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific mining explosives market accounted for USD 4,418.98 million in 2021 and is expected to exhibit a 7.06 % CAGR during the study period. The growing mineral extraction activities in emerging economies have led to a strong increase in the demand for commodities from the mining and metal industries.


For instance, india's mining explosives market is among the fastest growing market as India is one of the largest emerging markets in the Asia-Pacific region. According to the Ministry of Mines, mineral production in India has increased by 9.7% in November 2022 with the cumulative growth of 4.7% between April 2022-November 2022. Hence, Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2022–2030.


Further, the major countries studied are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 3: MINING EXPLOSIVES  MARKET SHARE BY REGION 2021 (%)
MINING EXPLOSIVES  MARKET SHARE BY REGION 2021


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


North America's mining explosives market accounts for the second-largest market share due to the rising infrastructure activities along with high demand for energy in the industrial sector. Further, the US mining explosives market held the largest market share, and the Canadian mining explosives market also holds a significant market share in the North American region.


The Europe mining explosives market is expected to grow at a CAGR of 6.31% from 2022 to 2030. This is due to growing industrialization, along with rapid demand for mining explosives for various application. Moreover, the German mining explosives market held the largest market share, and the France mining explosives market was the fastest-growing market in the European region


Mining Explosives  Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the mining explosives market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the mining explosives industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


One of the primary business strategies adopted by manufacturers in the global mining explosives industry to benefit clients and expand the mining explosives market sector is to manufacture locally to reduce operating costs. In recent years, mining explosives have come up with various features with some of the most significant benefits.


Orica Limited is a global mining explosives manufacturing company committed to improving the lives of people through advancement in mining explosives technologies, services, and solutions. In November 2021, Orica had launched 4D bulk explosives technology at MINExpo, Las Vegas. The 4D bulk explosives technology will enable Orica’s customers to seamlessly match a greater range of explosives energy in mining and target specific blast outcomes in real-time.


Also, BME has planned the expansion of the offices in the US in Denver, Colorado, and Utah IN January 2021. BME is set to provide service and supply across the US, which offers an explosives product range, including electronic and non-electric initiation systems and packaged explosives products.


Key Companies in the Mining Explosives Market include



  • Orica Limited

  • BME South Africa

  • Solar Industries India Ltd

  • Incitec Pivot Ltd

  • SASOL

  • YARA

  • Titanobel

  • MAXAM

  • Austin Detonator

  • Eurenco SA

  • Explosia, Inc.

  • EPC Groupe

  • Nitroerg SA

  • NOF Corporation

  • Hanwa Corporation


Mining Explosives  Industry Developments


In April 2021 Austin Powder introduced its explosives production to a new level with the modernization of its HMX plant in Rafaela. Austin can produce a new “Class 5” granulometry product (micronized) required for shock tube manufacturing. Class 5 HMX was developed in Rafaela Plant in partnership with a customer & competitor in the explosives industry.


In August 2020 MAXAM announced the official launch of its new integrated blasting service: X-Energy, to optimize the total cost of ownership in mining, quarrying, and infrastructures operations. X-Energy combines the most advanced explosives technology in the market (Smart Rioflex) and a set of digital tools for optimized blast design and execution, integrated in MAXAM Blast Center.


Mining Explosives Market Segmentation


Mining Explosives Type Outlook



  • Bulk Explosives

  • Packaged Explosives

  • Others


Mining Explosives Application Outlook



  • Coal Mining

  • Metal Mining

  • Quarry & Non-Metal Mining


Mining Explosives Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Russia

    • Poland

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Indonesia

    • South Korea

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size 2021 USD 9,599.18 million
Market Size 2022 USD 10,088.74 million
Market Size 2030 USD 17,008.4 million
Compound Annual Growth Rate (CAGR) 6.04% (2022-2030)
Base Year 2021
Forecast Period 2022-2030
Historical Data 2019 & 2020
Forecast Units Value (USD million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Orica Limited, BME South Africa, Solar Industries India Ltd, Incitec Pivot Ltd, SASOL, YARA, Titanobel, MAXAM, Austin Detonator, Eurenco SA, Explosia, Inc., EPC Groupe, Nitroerg SA, NOF Corporation, Hanwa Corporation
Key Market Opportunities The growing demand from coal industry is expected to argument the market growth Rise in infrastructure activity
Key Market Dynamics Promising growth of the mining industry in Middle East region
 



Frequently Asked Questions (FAQ) :

The coal mining industry will play a prominent role in taking the market forward.

Orica Limited, BME South Africa, Solar Industries India Ltd, Incitec Pivot Ltd, SASOL, YARA, Titanobel, MAXAM, Austin Detonator, Eurenco SA, Explosia, Inc., EPC Groupe, Nitroerg SA, NOF Corporation, Hanwa Corporation

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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