Industrial Explosives Market Size and Forecast, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type, Application, and Geography

List of Tables

The industrial explosives market size was valued at US$ 23.51 billion in 2023 and is expected to reach US$ 35.77 billion by 2031; it is estimated to register a CAGR of 5.4% from 2023 to 2031.

Ammonium nitrate is a widely used component for formulating explosives and blasting agents. Utilizing high-energy explosives enhances the fragmentation of rocks and efficiently carries out mining operations. Further, roads and tunnel construction play an important role in the economic development of a country. Thus, the growing mining and construction activities in developing economies are a leading factor in driving the global industrial explosives market. Further, industrial explosives are essential for efficient and safe mining operations. They play a vital role in fragmenting rocks and accessing mineral deposits. Buyers in the mining industry depend on industrial explosives to achieve their production targets. Due to the criticality of the product, buyers might have limited flexibility in seeking alternative solutions or negotiating on price or terms. Due to safety concerns and regulatory compliance, switching manufacturers can be complex and expensive.

Based on application, the industrial explosives market is segmented into mining, construction, and others. The mining segment is expected to register the highest CAGR in the industrial explosives market from 2023 to 2031. The mining application majorly consists of coal mining and metal mining. Explosives used in coal mines need to be efficient in blasting rock and coal; simultaneously, these explosives must not ignite the flammable atmosphere. Coal mining is the largest consumer of industrial explosives. Gold, platinum, and silver are a few examples of precious metals of high economic value that have been mined extensively. Metal mining uses less explosives than coal mining as metallic minerals are generally low-grade ores found only in geologically favorable areas.

Based on application, the market is segmented into mining, construction, and others. The mining segment held the largest share of the industrial explosives market in 2023. Coal surface mines rely entirely on explosives to uncover mineral deposits. Blasting is essential for successfully extracting coal resources from the deposits. Further, metal mining is one of the integral parts of the mining sector and contributes significantly to the growth of other manufacturing industries such as automotive, construction, electronics, etc. Southeast Asia registered the largest mining production of base metals such as nickel and copper as of 2022. According to the Institute for Development of Economics and Finance, the mining sector in Indonesia provides lucrative business opportunities, thereby prompting the government to invest in the sector. The government also announced its plan to map rare earth element reserves and focus on eight known mine locations at the early exploration stage.

In the industrial explosives market, Asia Pacific is expected to register the highest CAGR during 2023-2031. According to a report released by the US Geological Survey in 2022, China held the leading position in mine production of critical minerals: antimony, barite, germanium, graphite, magnesium, rare-earth elements, titanium, and tellurium. The British Geological Survey released in 2023 shows China accounted for the highest aluminum production, accounting for over 50% of global aluminum mining in 2021. The coal mining production in the country reached 4,368.1 million metric tons in 2021, an increase from 4,130.5 million metric tons in 2020. Mining operations primarily involve blasting mines using chemicals to break mineral-containing rocks.

A few players operating in the global industrial explosives market include Orica Ltd; AECI Ltd; Austin Powder Company; Dyno Nobel Ltd; Enaex SA; MaxamCorp Holding, S.L., Solar Industries India Ltd; EPC Groupe; Keltech Energies Ltd; and Hanwha Corp. Players operating in the global industrial explosives market focus on providing high-quality products to fulfill customer demand. Also, they are focusing on launching new and high-quality products for their customers.

The overall global industrial explosives market size has been derived using both primary and secondary sources. 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 and 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 industrial explosives market.

Product Code: TIPRE00004231

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 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:
3.3 Limitations and Assumptions

4. Industrial Explosives Market Landscape

4.1 Overview
4.2 Porters Five Forces Analysis
- 4.2.1 Threat of New Entrants
- 4.2.2 Threat of Substitutes
- 4.2.3 Bargaining Power of Buyers
- 4.2.4 Bargaining Power of Suppliers
- 4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Industrial Explosives Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End-Use Industry
- 4.3.5 List of Vendors in Value Chain

5. Industrial Explosives Market - Key Market Dynamics

5.1 Industrial Explosives Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Growth of Mining Industry
- 5.2.2 Surge in Government Support for Infrastructure Development
5.3 Market Restraints
- 5.3.1 Stringent Government Regulations
5.4 Market Opportunities
- 5.4.1 Utilization of Explosives for Avalanche Control
5.5 Future Trends
- 5.5.1 Research and Development of Environment-Friendly Explosives
5.6 Impact of Drivers and Restraints:

6. Industrial Explosives Market - Global Market Analysis

6.1 Industrial Explosives Market Revenue (US$ Million), 2021-2031
6.2 Industrial Explosives Market Forecast Analysis

7. Industrial Explosives Market Analysis - by Type

7.1 High Explosives
- 7.1.1 Overview
- 7.1.2 High Explosives: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
- 7.1.3 Dynamites
  - 7.1.3.1 Overview
  - 7.1.3.2 Dynamites: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
- 7.1.4 Gelatins
  - 7.1.4.1 Overview
  - 7.1.4.2 Gelatins: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
- 7.1.5 RDX
  - 7.1.5.1 Overview
- 7.1.6 RDX: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Blasting Agents
- 7.2.1 Overview
- 7.2.2 Blasting Agents: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
- 7.2.3 Slurries and Emulsions
  - 7.2.3.1 Overview
  - 7.2.3.2 Slurries and Emulsions: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
- 7.2.4 ANFO
  - 7.2.4.1 Overview
  - 7.2.4.2 ANFO: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
- 7.2.5 Blends
  - 7.2.5.1 Overview
- 7.2.6 Blends: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Low Explosives
- 7.3.1 Overview
- 7.3.2 Low Explosives: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)

8. Industrial Explosives Market Analysis - by Application

8.1 Mining
- 8.1.1 Overview
- 8.1.2 Mining: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Construction
- 8.2.1 Overview
- 8.2.2 Construction: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Others
- 8.3.1 Overview
- 8.3.2 Others: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)

9. Industrial Explosives Market - Geographical Analysis

9.1 Overview
9.2 North America
- 9.2.1 North America Industrial Explosives Market Overview
- 9.2.2 North America: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
- 9.2.3 North America: Industrial Explosives Market Breakdown, by Type
  - 9.2.3.1 North America: Industrial Explosives Market - Revenue and Forecast Analysis - by Type
- 9.2.4 North America: Industrial Explosives Market Breakdown, by Application
  - 9.2.4.1 North America: Industrial Explosives Market - Revenue and Forecast Analysis - by Application
- 9.2.5 North America: Industrial Explosives Market - Revenue and Forecast Analysis - by Country
  - 9.2.5.1 North America: Industrial Explosives Market - Revenue and Forecast Analysis - by Country
  - 9.2.5.2 United States: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.2.5.2.1 United States: Industrial Explosives Market Breakdown, by Type
    - 9.2.5.2.2 United States: Industrial Explosives Market Breakdown, by Application
  - 9.2.5.3 Canada: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.2.5.3.1 Canada: Industrial Explosives Market Breakdown, by Type
    - 9.2.5.3.2 Canada: Industrial Explosives Market Breakdown, by Application
  - 9.2.5.4 Mexico: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.2.5.4.1 Mexico: Industrial Explosives Market Breakdown, by Type
    - 9.2.5.4.2 Mexico: Industrial Explosives Market Breakdown, by Application
9.3 Europe
- 9.3.1 Europe Industrial Explosives Market Overview
- 9.3.2 Europe: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.3 Europe: Industrial Explosives Market Breakdown, by Type
  - 9.3.3.1 Europe: Industrial Explosives Market - Revenue and Forecast Analysis - by Type
- 9.3.4 Europe: Industrial Explosives Market Breakdown, by Application
  - 9.3.4.1 Europe: Industrial Explosives Market - Revenue and Forecast Analysis - by Application
- 9.3.5 Europe: Industrial Explosives Market - Revenue and Forecast Analysis - by Country
  - 9.3.5.1 Europe: Industrial Explosives Market - Revenue and Forecast Analysis - by Country
  - 9.3.5.2 Germany: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.2.1 Germany: Industrial Explosives Market Breakdown, by Type
    - 9.3.5.2.2 Germany: Industrial Explosives Market Breakdown, by Application
  - 9.3.5.3 France: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.3.1 France: Industrial Explosives Market Breakdown, by Type
    - 9.3.5.3.2 France: Industrial Explosives Market Breakdown, by Application
  - 9.3.5.4 United Kingdom: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.4.1 United Kingdom: Industrial Explosives Market Breakdown, by Type
    - 9.3.5.4.2 United Kingdom: Industrial Explosives Market Breakdown, by Application
  - 9.3.5.5 Italy: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.5.1 Italy: Industrial Explosives Market Breakdown, by Type
    - 9.3.5.5.2 Italy: Industrial Explosives Market Breakdown, by Application
  - 9.3.5.6 Russia: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.6.1 Russia: Industrial Explosives Market Breakdown, by Type
    - 9.3.5.6.2 Russia: Industrial Explosives Market Breakdown, by Application
  - 9.3.5.7 Rest of Europe: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.7.1 Rest of Europe: Industrial Explosives Market Breakdown, by Type
    - 9.3.5.7.2 Rest of Europe: Industrial Explosives Market Breakdown, by Application
9.4 Asia Pacific
- 9.4.1 Asia Pacific Industrial Explosives Market Overview
- 9.4.2 Asia Pacific: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.3 Asia Pacific: Industrial Explosives Market Breakdown, by Type
  - 9.4.3.1 Asia Pacific: Industrial Explosives Market - Revenue and Forecast Analysis - by Type
- 9.4.4 Asia Pacific: Industrial Explosives Market Breakdown, by Application
  - 9.4.4.1 Asia Pacific: Industrial Explosives Market - Revenue and Forecast Analysis - by Application
- 9.4.5 Asia Pacific: Industrial Explosives Market - Revenue and Forecast Analysis - by Country
  - 9.4.5.1 Asia Pacific: Industrial Explosives Market - Revenue and Forecast Analysis - by Country
  - 9.4.5.2 Australia: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.2.1 Australia: Industrial Explosives Market Breakdown, by Type
    - 9.4.5.2.2 Australia: Industrial Explosives Market Breakdown, by Application
  - 9.4.5.3 China: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.3.1 China: Industrial Explosives Market Breakdown, by Type
    - 9.4.5.3.2 China: Industrial Explosives Market Breakdown, by Application
  - 9.4.5.4 India: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.4.1 India: Industrial Explosives Market Breakdown, by Type
    - 9.4.5.4.2 India: Industrial Explosives Market Breakdown, by Application
  - 9.4.5.5 Japan: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.5.1 Japan: Industrial Explosives Market Breakdown, by Type
    - 9.4.5.5.2 Japan: Industrial Explosives Market Breakdown, by Application
  - 9.4.5.6 South Korea: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.6.1 South Korea: Industrial Explosives Market Breakdown, by Type
    - 9.4.5.6.2 South Korea: Industrial Explosives Market Breakdown, by Application
  - 9.4.5.7 Rest of APAC: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.7.1 Rest of APAC: Industrial Explosives Market Breakdown, by Type
    - 9.4.5.7.2 Rest of APAC: Industrial Explosives Market Breakdown, by Application
9.5 Middle East and Africa
- 9.5.1 Middle East and Africa Industrial Explosives Market Overview
- 9.5.2 Middle East and Africa: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.3 Middle East and Africa: Industrial Explosives Market Breakdown, by Type
  - 9.5.3.1 Middle East and Africa: Industrial Explosives Market - Revenue and Forecast Analysis - by Type
- 9.5.4 Middle East and Africa: Industrial Explosives Market Breakdown, by Application
  - 9.5.4.1 Middle East and Africa: Industrial Explosives Market - Revenue and Forecast Analysis - by Application
- 9.5.5 Middle East and Africa: Industrial Explosives Market - Revenue and Forecast Analysis - by Country
  - 9.5.5.1 Middle East and Africa: Industrial Explosives Market - Revenue and Forecast Analysis - by Country
  - 9.5.5.2 South Africa: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.5.5.2.1 South Africa: Industrial Explosives Market Breakdown, by Type
    - 9.5.5.2.2 South Africa: Industrial Explosives Market Breakdown, by Application
  - 9.5.5.3 Saudi Arabia: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.5.5.3.1 Saudi Arabia: Industrial Explosives Market Breakdown, by Type
    - 9.5.5.3.2 Saudi Arabia: Industrial Explosives Market Breakdown, by Application
  - 9.5.5.4 United Arab Emirates: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.5.5.4.1 United Arab Emirates: Industrial Explosives Market Breakdown, by Type
    - 9.5.5.4.2 United Arab Emirates: Industrial Explosives Market Breakdown, by Application
  - 9.5.5.5 Rest of Middle East and Africa: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.5.5.5.1 Rest of Middle East and Africa: Industrial Explosives Market Breakdown, by Type
    - 9.5.5.5.2 Rest of Middle East and Africa: Industrial Explosives Market Breakdown, by Application
9.6 South and Central America
- 9.6.1 South and Central America Industrial Explosives Market Overview
- 9.6.2 South and Central America: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
- 9.6.3 South and Central America: Industrial Explosives Market Breakdown, by Type
  - 9.6.3.1 South and Central America: Industrial Explosives Market - Revenue and Forecast Analysis - by Type
- 9.6.4 South and Central America: Industrial Explosives Market Breakdown, by Application
  - 9.6.4.1 South and Central America: Industrial Explosives Market - Revenue and Forecast Analysis - by Application
- 9.6.5 South and Central America: Industrial Explosives Market - Revenue and Forecast Analysis - by Country
  - 9.6.5.1 South and Central America: Industrial Explosives Market - Revenue and Forecast Analysis - by Country
  - 9.6.5.2 Brazil: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.6.5.2.1 Brazil: Industrial Explosives Market Breakdown, by Type
    - 9.6.5.2.2 Brazil: Industrial Explosives Market Breakdown, by Application
  - 9.6.5.3 Argentina: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.6.5.3.1 Argentina: Industrial Explosives Market Breakdown, by Type
    - 9.6.5.3.2 Argentina: Industrial Explosives Market Breakdown, by Application
  - 9.6.5.4 Rest of South and Central America: Industrial Explosives Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.6.5.4.1 Rest of South and Central America: Industrial Explosives Market Breakdown, by Type
    - 9.6.5.4.2 Rest of South and Central America: Industrial Explosives Market Breakdown, by Application

10. Competitive Landscape

10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration

11. Industry Landscape

11.1 Overview
11.2 Market Initiative
11.3 New Product Development

12. Company Profiles

12.1 Orica Ltd
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 AECI Ltd
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Austin Powder Company
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Dyno Nobel Ltd
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Enaex SA
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 MaxamCorp Holding, S.L.
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Solar Industries India Ltd
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 EPC Groupe
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Keltech Energies Ltd
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Hanwha Corp
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners