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APAC and MEA Mining Explosives Market is expected to reach US$ 20,353.54 million by 2030

APAC and MEA Mining Explosives Market

By The Insight Partners

Increasing Application of Ammonium Nitrate Fuel Oil (ANFO) in Mining Industry Drives APAC and MEA Mining Explosives Market Growth

According to our latest market study on “APAC and MEA Mining Explosives Market Forecast to 2030 – COVID-19 Impact and Regional Analysis – Type [Trinitrotoluene (TNT), ANFO, RDX, Pentaerythritol Tetranitrate (PETN), and Others] and Application (Quarrying and Non-Metal Mining, Metal Mining, and Coal Mining),” the APAC and MEA mining explosives market size was valued at US$ 14,622.75 million in 2022 and is projected to reach US$ 20,353.54 million by 2030; it is expected to record a CAGR of 4.2% from 2023 to 2030. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Mining industries require explosives to fragment or loosen rock and consolidate material before excavation. Explosives are essential in breaking mineral rocks. Surface mines in the coal & metal/nonmetal sectors rely extensively on explosives to uncover mineral deposits. The mining industry considers blasting an essential component for successful operations. Ammonium nitrate is a widely used component for the formulation of explosives and blasting agents. Utilization of high-energy explosives enhances the fragmentation of rocks and hence carries out mining operations in an efficient manner. This also has a positive impact on overall production costs. Further, mine production plays an important role in the economic development of a country. Thus, the growing mining activities in developing economies are a leading factor in driving the mining explosives market in the Asia Pacific, and the Middle East and Africa.

ANFO (Ammonium Nitrate Fuel Oil) is a widely used explosive mixture in the mining industry. ANFO is more cost-effective than other explosive types. Its production is relatively inexpensive. Also, ANFO offers good energy output per unit cost. These factors are crucial in regions such as the Middle East & Africa and Asia Pacific, where cost consideration and results play a significant role in mining operations. Due to its affordability, mining companies often prefer ANFO, especially for bulk blasting operations. Further, the raw material required to produce ANFO, namely ammonium nitrate and fuel oil, are often readily available in the Middle East & Africa and Asia Pacific. This easy availability of raw materials supports the production and distribution of ANFO. Also, ANFO is relatively easy to use in mining operations. It can be loaded into boreholes quickly and efficiently. Further, ANFO is considered relatively safer to handle than other explosives. It has a lower sensitivity to initiation, making it more stable during transportation and handling. Owing to these benefits, ANFO is a convenient choice for large-scale mining companies. The Middle East & Africa and Asia Pacific are witnessing an increase in mining activities due to the discovery of new mineral deposits, growing infrastructure developments, and increasing demand for minerals and resources.

Orica Limited, Al Fajar Al Alamia Co SAOG, Dyno Nobel, China Poly Group Corporation, NOF Corporation, Hanwha Group, Anhui Jiangnan Chemical Co Ltd, Koryo Nobel Explosives, Solar Group, and Omnia Group Company are among the major players operating in the APAC and MEA mining explosives market. Market players are highly focused on developing high-quality and innovative product offerings to fulfil the customer’s requirements.

Impact of COVID-19 Pandemic on APAC and MEA Mining Explosives Market

In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic disrupted the supply chain of key raw materials and hampered the growth of the mining explosives market. Adverse effect of the pandemic on the mining industry reduced the demand for mining explosives from these industries in APAC and the MEA.

Various economies from APAC and the MEA started reviving their operations. As a result, the demand for mining explosives has started increasing. The rising use of mining explosives for metal excavation is expected to offer opportunities for the APAC and MEA mining explosives market during the forecast period.

The report includes the segmentation of the APAC and MEA mining explosives market as follows:

The APAC and MEA mining explosives market, by type, is segmented into trinitrotoluene (TNT), ANFO, RDX, pentaerythritol tetranitrate (PETN), and others. Based on application, the market is segmented into quarrying and non-metal mining, metal mining, and coal mining. The APAC and MEA mining explosives market, by region, is segmented into Asia Pacific (APAC), and the Middle East & Africa (MEA). The APAC and MEA mining explosives market in Asia Pacific is further segmented into Australia, China, India, Indonesia, Vietnam, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Zimbabwe, Nigeria, Saudi Arabia, UAE, and the Rest of MEA.

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