242 Users Online
Latin America Industrial Explosives Market Segmented By Blasting Agents, High Explosives Used in Metal Mining, Quarrying, Construction
Mining industry has been the major consumer of industrial explosives in Latin America, accounting for around 80% of the overall demand in the region. Open-pit mining and underground mining are prominently driving the demand for industrial explosives, whereas the latter accounts for a significant share in the region’s industrial explosives landscape.
Increasing investments in metal mining in Latin America is a major factor expected to drive the consumption of industrial explosives in the region. Metal extraction, especially from underground mines, involves intensive use of industrial explosives. Countries in Latin America such as Chile, Peru, Colombia, Brazil, and Bolivia are rich in metallic minerals and thus, metal mining is anticipated to be a major sub-segment in mining, which is anticipated to drive the demand for industrial explosives.
Increasing adoption of conventional sources of electricity, especially hydroelectricity, in Latin America is also a key factor driving the demand for industrial explosives. Abundance of water resources in coastal countries of Latin America such as Chile and Brazil, is a major factor driving the deployment of hydroelectricity generation projects in the region, which require the use of explosives to blast rocks in the vicinity of water resources. This factor is expected to further propel the demand for industrial explosives in the region.
As per the findings of a new analysis of Persistence Market Research (PMR), Latin America industrial explosives market is projected to reach ~US$ 1.5 Bn by the end of 2029, witnessing a promising CAGR of ~5% during 2019-2029. The flourishing mining sector in Latin American countries would remain the primary growth driver for the industrial explosives market. Brazil, Peru, and Columbia are anticipated to register healthy growth in the Latin America industrial explosives market.
FREE Report Sample is Available
In-depth report coverage is now just a few seconds away
Get FREE Report Sample
The construction industry in Latin America is anticipated to witness healthy inflow of investments in the near future. As per the Association of Equipment Manufacturers (AEM), construction chemicals industry is anticipated to grow at 2.6% annually in the next four years with a healthy growth rate predicted in Columbia, Brazil, Chile, and Peru. Tunnel and road construction activities are anticipated to witness healthy growth over the next few years.
These activities are expected to drive the consumption of industrial explosives in the Latin America region.
Make This Report Your Own
Take Advantage of Intelligence Tailored to your Business Objective
Get a Customized VersionUse of industrial explosives in infrastructural projects and mineral extraction has witnessed steady growth in the last few years.
Major uses of blasting agents in Latin America include underground mining, open pit mining, quarrying, and tunneling. Growth of the overall mining industry, is in turn, expected to drive the growth of the blasting agents segment in the Latin America industrial explosives market during the forecast period.
The industrial explosives market landscape in the Latin America region is fairly consolidated with a few players making up majority of the market share. Manufacturers like AEL Mining Services, Enaex S.A., ORICA Ltd., MaxamCorp Holding S.L., Exsa S.A, and Austin Powder Company make up more than 50% of the market share, accounting to more than US$ 600 Mn in terms of combined revenue of industrial explosives in the Latin America region.
Over the past few years, an increase in the number of merger and acquisition activities has been witnessed in the industrial explosives market by the players in Latin America region. Manufacturers are actively pursuing consolidation and enhancement in production capacities to cater to the growing demand for industrial explosives in the Latin America region.
Sales Team
Client Partner
Increasing commercialization of rare earth mineral extraction process is likely to augur well for industrial explosives market, particularly in developing regions such as Latin America. With the region generating high demand for stone and mineral sand for a mounting number of construction and infrastructure projects, Latin American quarrying industry has been gaining a strong impetus.
Moreover, the region's transportation sector is undergoing a major upgrade with new road, tunnel, and other projects lined up by governments. All this, pushing investments in mineral extraction from deeper, will play a pivotal role in driving industrial explosives market in Latin America.
PMR’s study on the Latin America industrial explosives market is divided into three significant segments- product type, end use, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
| Attribute | Details |
|---|---|
| Product |
|
| End Use |
|
| Region |
|
