The global mining explosives consumables market is anticipated to expand at a CAGR of 5.5% during the forecast period, finds Future Market Insights (FMI) in a recent analysis. Growing focus to reduce consumption of industrial explosives in mining of iron ore, coal, and other minerals is expected to remain a key growth driver for the market.
Mining explosives consumables are extensively used in the mining industry along with industrial explosives to decrease the powder factor of rocks. These consumables are also used to enhance the impact of explosives on the rocks by creating immense pressure with the help of the air deck.
Substantial use of industrial explosives for the mining of iron ore, coal, phosphate rocks, gypsum, bauxite, and other metals & quarries is expected to fuel demand. These consumables not only reduce the amount of explosives used but also help to reduce the carbon footprint of numerous mining companies.
Rising metal mining activities like lithium, cobalt, and others would create ample opportunities for key manufacturers. They can target specific regions with high mining potential to bolster their annual turnover. East Asia and South Asia Pacific regions are projected to dominate the global market owing to high mining activities.
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Key Takeaways: Mining Explosives Consumables Market
- The mining explosives consumables market witnessed steady growth at 6% CAGR during the historical period between 2017 and 2021.
- By type, gas bags are estimated to witness considerable growth at a CAGR of 6% in the next ten years.
- Based on application, the coal mining segment is expected to account for more than two-third of the overall consumption volume of mining explosives consumables in the next ten years.
- Australia is expected to account for around 50% of mining explosives consumables demand in the South Asia Pacific region during the assessment period.
- The global mining explosives consumables market is set to be valued at around US$ 131.2 Mn by the end of 2022
Competitive Landscape: Mining Explosives Consumables Market
Key participants operating in the global mining explosives consumables market included in the report are MTI Group, Ideal Supply Inc., Stemlock, Inc., Australasian Mining Services (Pty) Ltd., PR Polymers, Layfield Group. Ltd., TIME Limited, Blasters Tool & Supply Co., Inc., Sarco Stopper Ltd., and Better Blasting among others.
Key market participants are investing in the expansion of their installed capacity, as well as global presence. Market players are also heavily involved in research and development activities to innovate their products and strengthen their product offerings. With the growing requirement for application specific products, key players are set to be benefited with strengthening of their product portfolios.
- The KOOLKAP Down-Under Bags, which were developed to withstand Australia's severe weather conditions, are well suited for usage everywhere in the world and deliver exceptional performance even at elevations of over 4,500 meters.
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Mining Explosives Consumables Market Outlook by Category
- Gas Bags
- Vinegar Gas Bag
- Inflated Gas Bags
- Self-inflating Bags
- Pin Flags
- Solar Lights
- Cone Sleeves
- Blast Hole Liners
- Iron Ore Mining
- Coal Mining
- Bauxite Mining
- Phosphate Rocks
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
to be continued...!
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More Insights into the Mining Explosives Consumables Market Report
In its latest report, FMI offers an unbiased analysis of the global mining explosives consumables market, providing historical data from 2017 to 2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on type (gas bags (vinegar gas bags, inflated gas bags, self-inflating gas bags and others) and accessories (pin flags, solar lights, cone sleeves, blast hole liners, and others); application (iron ore mining, coal mining, bauxite mining, phosphate rocks and others) across six regions (North America, Latin America, Europe, East Asia, South Asia Pacific, and the Middle East & Africa).
About the Chemicals and Materials Division at FMI
The chemicals and materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on 'green alternatives, recycling, and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing - 'The Way Forward'.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Original Source of the original story >> Demand for Mining Explosives Consumables Market Projected to Witness CAGR of 5.5% with US$ 224.8 Mn by 2032 - Future Market Insights Inc.
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