With large-scale mining activities taking place, especially in the APAC (Asia-pacific) countries, the market for mining explosives has grown immensely. Increasing demand for coal has further boosted the demand for mining explosives. According to analysts at Technavio, the global mining explosives market stood at approximately $18 billion in 2015, and is poised to grow at a CAGR of over 5% by 2020.
The latest trends in the mining explosives market
One key trend in this market has been the increased use of bulk emulsion explosives in the mining process. As emulsion explosives are safe to store and transport, they are being used more and more frequently by the mining industry. These explosives are essentially blasting agents that contain a supersaturated solution of microscopic ammonium nitrate droplets suspended in oil with emulsifying agents. Because these explosives are water-resistant, release fewer emissions, and are safer than readymade explosives, using them for blasting purposes has become quite common.
Along with emulsion explosives, electronic detonators are also increasingly being used in the mining market. This is due to the fact that these types of detonators have better vibration control and enhance productivity by increasing the value extracted from ores. Most importantly, these devices are cost-effective, thus providing a competitive edge for mining companies and allowing them to invest in other aspects of the mining industry.
Apart from mining companies, these explosives are also being used in the construction industry for tunneling purposes and demolition of old infrastructure. With more construction activities occurring around the globe, the demand for mining explosives has also increased a great deal. Additionally, many large organizations have adopted regional procurement activities leading to partnerships between global players and local suppliers in order to generate a regular supply of raw materials. Today’s buyers prefer suppliers who take care of the safe transport and storage of mining explosives and can provide effective environment protection plans. On the other hand, there are a number of global players who are upgrading their own in-house production procedures in order to produce the best mining explosives on their own terms.
With the adoption of controlled blasting and a trend towards hiring a highly skilled workforce, the mining explosives market is not only expanding, but is also becoming increasingly more eco-friendly and sustainable.
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