Global Industrial Explosives Market to Reach USD 12.1 Billion by 2033, Propelled by Significant Growth in Mining Industry

January 02, 2025 | Chemical & Materials

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According to the latest report by IMARC Group, titled “Industrial Explosives Market Report by Type (High Explosives, Blasting Agents), End Use Industry (Mining, Construction, and Others), and Region 2025-2033,” the global industrial explosives market size reached USD 8.3 Billion in 2024. Industrial explosives are powerful materials specifically designed for industrial applications that require controlled explosions. They are made from a combination of hydrogen, carbon, oxygen, and nitrogen. They are formulated to release a large amount of energy in a controlled manner to achieve specific objectives like breaking, fragmenting, or displacing materials. They are instrumental in tasks, such as rock blasting, tunneling, road construction, seismic exploration, and demolition of structures.

Global Industrial Explosives Market Trends:

There is an increase in the use of industrial explosives in the mining industry for rock blasting activities to fragment and break rock formations, which allows extraction of valuable minerals. This, coupled with rising mining activities and the growing demand for coal and various rare earth metals like gold, bauxite, iron, ore, silver, and surface minerals across different industrial verticals, represents one of the key factors augmenting the market growth around the world. Moreover, the increasing usage of industrial explosives in the production of quarrying and aggregate to extract sand, gravel, and crushed stone is favoring the market growth. In addition, industrial explosives find applications in the defense sector for various military operations, bomb disposal, and training exercises. This, along with the growing number of cross-border terrorist activities, illegal trespassing, and drug trafficking incidences, is influencing the market positively. Apart from this, the increasing utilization of industrial explosives in the construction industry to allow precise and controlled breaking down of buildings, bridges, and chimneys is propelling the market growth. Furthermore, the growing demolishing activities of unauthorized buildings and weak foundations are creating a positive outlook for the market. Looking forward, the market value is projected to reach USD 12.1 Billion by 2033, expanding at a CAGR of 4.02% during 2025-2033.

Market Summary:

Based on the type, the market has been segregated into high explosives and blasting agents [ammonium nitrate fuel oil (ANFO), water gel explosives, emulsions, nitrogen explosives, and others]. At present, blasting agents [ammonium nitrate fuel oil (ANFO), water gel explosives, emulsions, nitrogen explosives, and others] dominate the market.
On the basis of the end use industry, the market has been divided into mining (metal mining, non-metal mining, and quarrying), construction, and others. Mining (metal mining, non-metal mining, and quarrying) currently accounts for the biggest share in the market.
Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being AECI Limited, Austin Powder Company, EPC Groupe, Incitec Pivot limited, Irish Industrial Explosives Limited, Keltech Energies Ltd., NOF Corporation, Orica Limited, Sigdo Koppers S.A. and Solar Industries India Limited.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Type, End Use Industry, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	AECI Limited, Austin Powder Company, EPC Groupe, Incitec Pivot limited, Irish Industrial Explosives Limited, Keltech Energies Ltd., NOF Corporation, Orica Limited, Sigdo Koppers S.A. and Solar Industries India Limited.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Industrial Explosives Market to Reach USD 12.1 Billion by 2033, Propelled by Significant Growth in Mining Industry

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