Global Dynamite Market Information: By Type (Bulk Explosives, Cartridges Explosives, Anfo, Nitroglycerine, Others), Grade (High And Low), Application (Mining, Construction, Quarry, Defense, Others), And Region- Forecast Till 2023
Market Analysis
Also known as explosives, dynamite is a mixture of several chemical compounds which consist of a huge amount of potential energy which could explode under high pressure and heat. The dynamites explode at two different speeds, namely; deflagrate or low explosives or detonate or high explosives. Nitro-glycerin, RDX, trinitrotoluene (TNT), and ammonium nitrate fuel oil (ANFO) are few examples of high explosives. Whereas, low explosives include flash powder and black powder which cannot produce shock waves and tend to deflagrate. The global dynamite market is anticipated to reach the value of USD 17,973.7 million by the year 2023 growing at a CAGR 5.67% during the prediction period.
Some of the driving factors and patterns encouraging the development of the global explosives market incorporate developing interest from the coal business alongside a rising improvement in different construction activities. Besides, the rising interest for remaking of the old building is additionally expected to expand the market development. The market also provides a great opportunity for the explosives manufacturers. Also, enhancing the defense sector for counterterrorism and homeland security is likely to drive the demand for explosives in the global market. However, strict government regulations related to workplace health concerns may hinder the growth of the global explosives market.
Market Segmentation
The global dynamite market is classified on the basis of its grade, application, type, and regional demand. Based on its grade, the global market is segmented into low and high explosives. On the basis of its type, the market is bifurcated into nitroglycerine, cartridge explosives, bulk explosives, ANFO, and others. Based on its application, the explosives market finds its usage in sectors like mining, quarry, construction, defense, and others.
Regional Analysis
Geographically, the global dynamite market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major Players
The major industry players in the global dynamite market includes companies like Hanwha Corp., Pakistan Ordnance Factory, Incitec Pivot Ltd, Austin Powder Gmbh, Explosia, Inc., Eurenco SA, EPC Groupe, Nitroerg SA, Yara, Forcit Group, Solar Industries India Ltd, Titanobel, MAXAMCorp Holding, IDL Explosives, S.L., Orica Limited, Enaex, China Poly Group Corporation, Anhui Jiangnan, BME, Ideal Industrial Explosives Ltd, NOF Corporation, among others.