Product Code: TIPRE00023067
The global mining explosives market size was valued at US$ 18.35 billion in 2022 and is projected to reach US$ 25.09 billion by 2030; it is expected to grow at a CAGR of 4.2% from 2022 to 2030.
Rare earth metals, also known as rare earth elements (REEs), are elements found in the earth's crust. These elements are known for their unique properties and have various applications across different industries, including electronics, renewable energy, automotive, defense & aerospace, and medical equipment. The growing demand for rare earth metals from these sectors has surged the need to explore new deposits of rare earth metals. According to the United States Geological Survey, global rare earth reserves estimated at Vietnam's rare earth mine production jumped to 4,300 metric tons in 2022 from 400 metric tons in 2021.
Additionally, in April 2023, National Geophysical Research Institute (NGRI) discovered large deposits of 15 rare earth elements (REE) in Anantapur district, Andhra Pradesh, India. Successful exploration results and identifying economically viable rare earth metal deposits can lead to expansion operations. Before commencing mining operations, extensive site preparation and infrastructure development are required. This includes clearing vegetation, leveling terrain, constructing access roads, and establishing mining facilities. Mining explosives are employed in these activities to clear land, shape terrain, and build access routes, facilitating the development of mining sites for rare earth metals.
Further, rare earth metals are often embedded within hard rock formations, making their extraction challenging. The exploration activities for rare earth metals involve extensive drilling and blasting to extract mineral samples and access the viability of deposits. Mining explosives are crucial in breaking down rocks and facilitating access to mineral-rich areas. As companies move from exploration to production, the demand for mining explosives escalates to support larger-scale mining activities. Thus, the growing exploration activities of rare earth metals would offer lucrative opportunities for the global mining explosives market from 2022 to 2030.
The global mining explosives market has been segmented based on type into trinitrotoluene (TNT), ANFO, RDX, pentaerythritol tetranitrate (PETN), and Others. The ANFO held the largest share in the global mining explosives market in 2022. RDX is expected to be another attractive segment during 2022 to 2030. RDX is a nitramine explosive compound that can be used as a propellant, gunpowder, or high explosive, depending on the industry's application. It is a white crystalline solid that is highly sensitive to impact, friction, and heat. The nitrogen atoms in the ring are triple-bonded to each other, offering RDX high stability and explosive properties.
Based on region, the global mining explosives market has been segmented into the Asia Pacific and Middle East & Africa. In 2022, Asia Pacific held the largest revenue share of the global mining explosives market. North America is expected to be another attractive region in the near future. North America accounts for 15.4% share of global mineral production in 2020, whereas the mining production rates increased by 13.8% during the period of 2000-2020, as per the World Mining Data 2022 report by Federal Ministry Republic of Austria. Mining explosives are widely used for loosening the mineral rocks, quarrying and other nonmetal mining. The rising mineral exploration and production rate indicate growing potential for utilization of mining explosives for mining activities in the region.
Orica Limited, Al Fajar Al Alamia Co SAOG, Dyno Nobel, China Poly Group Corporation, NOF Corporation, Hanwha Group, Anhui Jiangnan Chemical Co Ltd, Koryo Nobel Explosives, Solar Group, and Omnia Group Company are some of the major players operating in the global mining explosives market. Players operating in the global mining explosives market are adopting different strategies, such as investments in research and development activities and new product launches, to stand out as strong competitors in the market. Market players are highly focused towards the development of high quality and innovative product offerings to fulfil the customer's requirements.
The size of overall global mining explosives market has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global mining explosives market.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global mining explosives market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global mining explosives market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the mining explosives market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table Of Contents
1. Introduction
- 1.1 The Insight Partners Research Report Guidance
- 1.2 Market Segmentation
2. Executive Summary
- 2.1 Key Insights
- 2.2 Market Attractiveness
3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
4. Mining Explosives Market Landscape
- 4.1 Overview
- 4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
- 4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers:
- 4.3.2 Manufacturers:
- 4.3.3 End Use:
5. Global Mining Explosives Market - Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Growing Demand for Metals in Manufacturing High-End Products
- 5.1.2 Increasing Application of ANFO (Ammonium Nitrate Fuel Oil) in Mining Industry
- 5.2 Market Restraints
- 5.2.1 Stringent Government Regulations
- 5.3 Market Opportunities
- 5.3.1 Rising Exploration Activities of Rare Earth Metals
- 5.4 Future Trends
- 5.4.1 Increasing Utilization of Pentaerythritol Tetranitrate (PETN)
- 5.5 Impact Analysis
6. Mining Explosives Market - Global Market Analysis
- 6.1 Mining Explosives Market Revenue (US$ Million)
- 6.2 Mining Explosives Market Forecast and Analysis
7. Mining Explosives Market Analysis - Type
- 7.1 Trinitrotoluene (TNT)
- 7.1.1 Overview
- 7.1.2 Trinitrotoluene (TNT) Market, Revenue and Forecast to 2030 (US$ Million)
- 7.2 ANFO
- 7.2.1 Overview
- 7.2.2 ANFO Market Revenue and Forecast to 2030 (US$ Million)
- 7.3 RDX
- 7.3.1 Overview
- 7.3.2 RDX Market Revenue and Forecast to 2030 (US$ Million)
- 7.4 Pentaerythritol Tetranitrate (PETN)
- 7.4.1 Overview
- 7.4.2 Pentaerythritol Tetranitrate (PETN) Market Revenue and Forecast to 2030 (US$ Million)
- 7.5 Others
- 7.5.1 Overview
- 7.5.2 Others Market Revenue and Forecast to 2030 (US$ Million)
8. Mining Explosives Market Analysis - Application
- 8.1 Quarrying and Non-Metal Mining
- 8.1.1 Overview
- 8.1.2 Quarrying and Non-Metal Mining Market Revenue, and Forecast to 2030 (US$ Million)
- 8.2 Metal Mining
- 8.2.1 Overview
- 8.2.2 Metal Mining Market Revenue, and Forecast to 2030 (US$ Million)
- 8.3 Coal Mining
- 8.3.1 Overview
- 8.3.2 Coal Mining Market Revenue and Forecast to 2030 (US$ Million)
9. Mining Explosives Market - Geographical Analysis
- 9.1 North America
- 9.1.1 North America Mining Explosives Market Overview
- 9.1.2 North America Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.1.3 North America Mining Explosives Market Breakdown by Type
- 9.1.3.1 North America Mining Explosives Market Revenue and Forecasts and Analysis - By Type
- 9.1.4 North America Mining Explosives Market Breakdown by Application
- 9.1.4.1 North America Mining Explosives Market Revenue and Forecasts and Analysis - By Application
- 9.1.5 North America Mining Explosives Market Revenue and Forecasts and Analysis - By Countries
- 9.1.5.1 Mining explosives market Breakdown by Country
- 9.1.5.2 US Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.1.5.2.1 US Mining Explosives Market Breakdown by Type
- 9.1.5.2.2 US Mining Explosives Market Breakdown by Type
- 9.1.5.2.3 US Mining Explosives Market Breakdown by Application
- 9.1.5.3 Canada Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.1.5.3.1 Canada Mining Explosives Market Breakdown by Type
- 9.1.5.3.2 Canada Mining Explosives Market Breakdown by Application
- 9.1.5.4 Mexico Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.1.5.4.1 Mexico Mining Explosives Market Breakdown by Type
- 9.1.5.4.2 Mexico Mining Explosives Market Breakdown by Application
- 9.2 Europe
- 9.2.1 Europe Mining Explosives Market Overview
- 9.2.2 Europe Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.2.3 Europe Mining Explosives Market Breakdown by Type
- 9.2.3.1 Europe Mining Explosives Market Revenue and Forecasts and Analysis - By Type
- 9.2.4 Europe Mining Explosives Market Breakdown by Application
- 9.2.4.1 Europe Mining Explosives Market Revenue and Forecasts and Analysis - By Application
- 9.2.5 Europe Mining Explosives Market Revenue and Forecasts and Analysis - By Countries
- 9.2.5.1 Mining explosives market Breakdown by Country
- 9.2.5.2 Germany Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.2.5.2.1 Germany Mining Explosives Market Breakdown by Type
- 9.2.5.2.2 Germany Mining Explosives Market Breakdown by Application
- 9.2.5.3 France Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.2.5.3.1 France Mining Explosives Market Breakdown by Type
- 9.2.5.3.2 France Mining Explosives Market Breakdown by Application
- 9.2.5.4 UK Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.2.5.4.1 UK Mining Explosives Market Breakdown by Type
- 9.2.5.4.2 UK Mining Explosives Market Breakdown by Application
- 9.2.5.5 Italy Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.2.5.5.1 Italy Mining Explosives Market Breakdown by Type
- 9.2.5.5.2 Italy Mining Explosives Market Breakdown by Application
- 9.2.5.6 Russia Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.2.5.6.1 Russia Mining Explosives Market Breakdown by Type
- 9.2.5.6.2 Russia Mining Explosives Market Breakdown by Application
- 9.2.5.7 Rest of Europe Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.2.5.7.1 Rest of Europe Mining Explosives Market Breakdown by Type
- 9.2.5.7.2 Rest of Europe Mining Explosives Market Breakdown by Application
- 9.3 Asia Pacific Mining Explosives Market
- 9.3.1 Overview
- 9.3.2 Asia Pacific Mining Explosives Market Revenue and Forecasts To 2030 (US$ Million)
- 9.3.3 Asia Pacific Mining Explosives Market Breakdown by Type
- 9.3.3.1 Asia Pacific Mining Explosives Market Revenue and Forecasts and Analysis - By Type
- 9.3.4 Asia Pacific Mining Explosives Market Breakdown by Application
- 9.3.4.1 Asia Pacific Mining Explosives Market Revenue and Forecasts and Analysis - By Application
- 9.3.5 Asia Pacific Mining Explosives Market Breakdown by Country
- 9.3.5.1 Mining explosives market Breakdown by Country
- 9.3.5.2 Australia Mining Explosives Market Revenue and Forecasts To 2030 (US$ Million)
- 9.3.5.2.1 Australia Mining Explosives Market Breakdown by Type
- 9.3.5.2.2 Australia Mining Explosives Market Breakdown by Application
- 9.3.5.3 China Mining Explosives Market Revenue and Forecasts To 2030 (US$ Million)
- 9.3.5.3.1 China Mining Explosives Market Breakdown by Type
- 9.3.5.3.2 China Mining Explosives Market Breakdown by Application
- 9.3.5.4 India Mining Explosives Market Revenue and Forecasts To 2030 (US$ Million)
- 9.3.5.4.1 India Mining Explosives Market Breakdown by Type
- 9.3.5.4.2 India Mining Explosives Market Breakdown by Application
- 9.3.5.5 Indonesia Mining Explosives Market Revenue and Forecasts To 2030 (US$ Million)
- 9.3.5.5.1 Indonesia Mining Explosives Market Breakdown by Type
- 9.3.5.5.2 Indonesia Mining Explosives Market Breakdown by Application
- 9.3.5.6 Vietnam Mining Explosives Market Revenue and Forecasts To 2030 (US$ Million)
- 9.3.5.6.1 Vietnam Mining Explosives Market Breakdown by Type
- 9.3.5.6.2 Vietnam Mining Explosives Market Breakdown by Application
- 9.3.5.7 Rest of Asia Pacific Mining Explosives Market Revenue and Forecasts To 2030 (US$ Million)
- 9.3.5.7.1 Rest of Asia Pacific Mining Explosives Market Breakdown by Type
- 9.3.5.7.2 Rest of Asia Pacific Mining Explosives Market Breakdown by Application
- 9.4 Middle East & Africa
- 9.4.1 Middle East & Africa Mining Explosives Market Overview
- 9.4.2 Middle East & Africa Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.4.3 Middle East & Africa Mining Explosives Market Breakdown by Type
- 9.4.3.1 Middle East & Africa Mining Explosives Market and Forecasts and Analysis - By Type
- 9.4.4 Middle East & Africa Mining Explosives Market Breakdown by Application
- 9.4.4.1 Middle East & Africa Mining Explosives Market and Forecasts and Analysis - By Application
- 9.4.5 Middle East & Africa Mining Explosives Market Revenue and Forecasts and Analysis - By Countries
- 9.4.5.1 Mining Explosives Market Breakdown by Country
- 9.4.5.2 South Africa Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.4.5.2.1 South Africa Mining Explosives Market Breakdown by Type
- 9.4.5.2.2 South Africa Mining Explosives Market Breakdown by Application
- 9.4.5.3 Saudi Arabia Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.4.5.3.1 Saudi Arabia Mining Explosives Market Breakdown by Type
- 9.4.5.3.2 Saudi Arabia Mining Explosives Market Breakdown by Application
- 9.4.5.4 UAE Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.4.5.4.1 UAE Mining Explosives Market Breakdown by Type
- 9.4.5.4.2 UAE Mining Explosives Market Breakdown by Application
- 9.4.5.5 Zimbabwe Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.4.5.5.1 Zimbabwe Mining Explosives Market Breakdown by Type
- 9.4.5.5.2 Zimbabwe Mining Explosives Market Breakdown by Application
- 9.4.5.6 Nigeria Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.4.5.6.1 Nigeria Mining Explosives Market Breakdown by Type
- 9.4.5.6.2 Nigeria Mining Explosives Market Breakdown by Application
- 9.4.5.7 Rest of Middle East & Africa Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.4.5.7.1 Rest of Middle East & Africa Mining Explosives Market Breakdown by Type
- 9.4.5.7.2 Rest of Middle East & Africa Mining Explosives Market Breakdown by Application
- 9.5 South & Central America
- 9.5.1 South & Central America Mining Explosives Market Overview
- 9.5.2 South & Central America Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.5.3 South & Central America Mining Explosives Market Breakdown by Type
- 9.5.3.1 South & Central America Mining Explosives Market and Forecasts and Analysis - By Type
- 9.5.4 South & Central America Mining Explosives Market Breakdown by Application
- 9.5.4.1 South & Central America Mining Explosives Market Revenue and Forecasts and Analysis - By Application
- 9.5.5 South & Central America Mining Explosives Market Revenue and Forecasts and Analysis - By Countries
- 9.5.5.1 Mining Explosives Market Breakdown by Country
- 9.5.5.2 Brazil Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.5.5.2.1 Brazil Mining Explosives Market Breakdown by Type
- 9.5.5.2.2 Brazil Mining Explosives Market Breakdown by Application
- 9.5.5.3 Argentina Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.5.5.3.1 Argentina Mining Explosives Market Breakdown by Type
- 9.5.5.3.2 Argentina Mining Explosives Market Breakdown by Application
- 9.5.5.4 Rest of South & Central America Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
- 9.5.5.4.1 Rest of South & Central America Mining Explosives Market Breakdown by Type
- 9.5.5.4.2 Rest of South & Central America Mining Explosives Market Breakdown by Application
10. Impact of COVID-19 Pandemic on Global Mining Explosives Market
- 10.1 Pre & Post Covid-19 Impact
11. Competitive Landscape
- 11.1 Heat Map Analysis By Key Players
- 11.2 Company Positioning & Concentration
12. Industry Landscape
- 12.1 Product launch
- 12.2 Expansion
- 12.3 Joint Venture
13. Company Profiles
- 13.1 Orica Ltd
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Al Fajar Al Alamia Co
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Dyno Nobel Ltd
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 China Poly Group Corp Ltd
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 NOF Corp
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Hanwha Corp
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 Sasol Ltd
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 Koryo Nobel Explosives Co Ltd
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Solar Industries India Ltd
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 Omnia Holding Ltd
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
14. Appendix