Explosives: A Global Strategic Business Report - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-14 12:51:01
The global Explosives market is projected to reach 15.8 million metric tons by 2018, driven by growing demand from emerging economies and technology advancements focused on development of safe blasting technologies.
Fortunes of the explosives industry are closely linked with the metal/mineral extraction industry. More than 75% of the explosives production is consumed in mining operations alone across the globe. While the market has entered a stabilization phase in some countries, it is picking up momentum in other economies with availability of extensive mineral deposits for excavation and rebound in construction and quarrying activity. Developing economies such as China, India, and South Africa are expected to drive growth of the explosives market with rise in mining, construction as well as manufacturing industries. In addition, civil works such as tunnel constructions and other development projects in emerging markets are expected to drive market growth.
Currently, lower commodity prices post a concern for explosives industry, as major mining companies focus on lower operating costs and tightening operating cash flows. Given that explosives constitute 10%-15% of the mining costs, pricing of explosives is expected to be under pressure for reducing operating costs by mining companies. Besides the fall in commodity prices, underperformance in North America amidst growing shift towards natural gas by power generation companies and continued weakness in West European markets continue to impact the demand for explosives in recent years.
Asia-Pacific represents the largest and fastest growing market for explosives worldwide. With the Chinese and Indian economies displaying strong demand, global players are venturing these markets to gain presence. Also demand for ammonium nitrate, a key component in explosive manufacture, is expected to increase significantly, as mining companies gear up to expand production in these economies. African mining industry is an active sector, with several Greenfield and Brownfield expansion projects in various stages of planning and implementation. South African market for explosives continues to remain strong, driven by the extensive mineral deposits available in the country. Global Industry Analysts Â©
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