Rising demand for mining explosives owing to, growing mining, non-metal and metal extraction industries is factor expected to propel growth of the global mining explosives market over the forecast period. In addition, increasing investments in the mining explosives market is expected to support growth of the global mining explosives market over the forecast period.
However, increasing cost infrastructure is factor expected to hamper growth of the target market over the forecast period.
The global mining explosives market has been segmented on basis of type, application, and region.
On the basis of type, the target market is segmented into ammonium nitrate explosives (powder form), emulsion explosives, and ANFO (ammonium nitrate/fuel oil). Ammonium nitrate explosives is one of the large segments in the mining explosives market. On the basis of application global mining explosives market is segmented into quarrying & non-metal mining, metal mining, and coal mining. Quarrying and non-metal segment dominates the global market in terms of revenue and is expected to maintain its dominance over the forecast period, owing to increasing use of mining explosives for tunnel construction.
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Based upon region global mining explosives market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The market in Middle East & Africa is estimated to be highest share in terms of revenue, owing to increasing numbers of mineral extractions, in the region. The markets in Asia Pacific is expected to register significant growth in terms of revenue, owing to growing mining sectors in the region over the forecast period.
Some prominent players in the global mining explosives market are Orica Limited, Dyno Nobel Inc., AEL Mining Services Limited, Sasol Limited, The Austin Company, Bulk Mining Explosives (Pty) Ltd., ENAEX S.A., NOF CORPORATION, Solar Explosives, and EPC United Kingdom Plc.