Seattle, WA -- (SBWIRE) -- 09/26/2019 -- The global industrial explosives market size is expected to witness potential gains in the future and register a significant CAGR of 6.6% over the forecast period (2019 - 2027).
Market Overview
Black powder, dynamite, and other chemicals are used in the explosives industry to mine minerals, break rocks, clear fields, and construct roads. Various types of explosives are used in the extraction of materials such as limestone, cement, and concrete that are used in the construction sector. Other industries that significantly use explosives include, the oil and gas and power production. There are four major types of industrial explosives that include, low or deflagrating explosives, primary, secondary high explosives, and blasting agents. Some of the key explosives used in various industries include, emulsion explosives, ammonium nitrate fuel oil (ANFO), water gel explosives, and nitrogen explosives. Ammonium nitrate fuel oil (ANFO) is made of about 94% ammonium nitrate and 6% fuel oil.
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Market Dynamics
ANFO explosives and water gel explosives are used in applications where high velocity of detonation is required. ANFO explosives contain a water soluble ammonium substance and can offer a larger radius of impact. Increasing preference of ammonium nitrate as an explosive can be attributed to its safety advantage over other products such as dynamite. ANFO finds application in mining, quarrying, and tunneling construction. Industrial explosives are extensively used in coal mining. Therefore, increasing coal mining and metal mining activities are expected to boost growth of the global industrial explosives market.
However, explosives such as nitrogen can have hazardous effects on the environment due to the fumes developed after using such explosives. Moreover, increasing concerns about the impact of mining on the environment is also expected to hamper the market growth over the forecast period.
Market Outlook
Growing building and construction industry in emerging economies of India and China is expected to increase demand for construction materials such as cement and metal. This in turn is expected to lead to high demand for industrial explosives for extraction of these materials, thereby boosting growth of the global industrial explosives market over the forecast period. Increasing mining and oil and gas extraction activities is a major factor boosting growth of the market in Middle East and Africa.
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Key Players
Major players operating in the industrial explosives market include, AEL Mining Services Ltd., Enaex, EPC Groupe, Gulf Oil Corporation Limited, Guizhou Panjiang Chemical Plant, Hubei Kailong Chemical Group Co., Ltd, Indian Oil Corporation Limited, and Solar Industries India Limited.
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