The Latin America industrial explosives market is driven by factors such as the increasing demand for mining activities, growing construction activities, and advancements in the mining and construction industry. The market is also influenced by factors such as the increasing investment in infrastructure development and the growing demand for metal and minerals. The availability of various government initiatives and favorable regulations is also driving the growth of the industrial explosives market. However, the market is hindered by factors such as the high cost of explosives and the stringent regulations related to the use of explosives. Nevertheless, the increasing focus on the development of sustainable explosives and the growing adoption of digitalization in the mining industry are expected to create new opportunities for the growth of the industrial explosives market in Latin America.
The Latin America Industrial Explosives Market was estimated to account for US$ 1,172.7 Million in terms of value in 2021 and is predicted to grow at a CAGR of 7.9% during the forecast period (2022 to 2030).
Prominent Companies in the Latin America Industrial Explosive Indusatry:
1. MAXAM
MAXAM is a global technology company founded in 1872. The company's headquarters is located in Madrid, Spain, and it operates in over 50 countries worldwide. In March 2021, MAXAM opened a new emulsion plant in Brazil, expanding its manufacturing capacity in the country.
2. AEL Mining Services Ltd.
AEL Mining Services Ltd. is a South African multinational company founded in 1896. The company's headquarters is located in Johannesburg, South Africa, and it operates in over 20 countries worldwide. In August 2020, AEL Mining Services announced a strategic partnership with Brazilian mining company Nexa Resources to supply explosives and blasting services for the company's operations in Brazil and Peru.
3. EXSA SA
EXSA SA is a Peruvian multinational company founded in 1953. The company's headquarters is located in Lima, Peru, and it operates in over 10 countries worldwide.
4. Enaex
Enaex is a Chilean multinational company founded in 1920. The company's headquarters is located in Santiago, Chile, and it operates in over 50 countries worldwide. In February 2021, Enaex announced the expansion of its operations in Mexico, with the opening of a new emulsion plant in the state of Sonora.
5. Austin International
Austin International is a US-based company founded in 1985. The company's headquarters is located in Dallas, Texas, United States, and it operates in over 30 countries worldwide.
6. Orica Limited
Orica Limited is an Australian multinational company founded in 1874. The company's headquarters is located in Melbourne, Australia, and it operates in over 100 countries worldwide. In July 2021, Orica announced the acquisition of Exsa Europe, a Spanish explosives manufacturer, to expand its presence in the European market.
7. Keltec Energies
Keltec Energies is an Indian multinational company founded in 1998. The company's headquarters is located in Chennai, India, and it operates in over 10 countries worldwide.
8. Economic Explosives
Economic Explosives is a South African company founded in 1896. The company's headquarters is located in Johannesburg, South Africa, and it operates in over 10 countries worldwide.
9. IBP Co.
IBP Co. is a Japanese multinational company founded in 1949. The company's headquarters is located in Tokyo, Japan, and it operates in over 10 countries worldwide.
10. Noble Explochem
Noble Explochem is an Indian multinational company founded in 1984. The company's headquarters is located in Mumbai, India, and it operates in over 30 countries worldwide.
11. Accurate Energetic Systems, LLC.
Accurate Energetic Systems, LLC. is a US-based company founded in 1996. The company's headquarters is located in McEwen, Tennessee, United States, and it operates in over 10 countries worldwide.
12. Detotec North America Inc.
Detotec North America Inc. is a Canadian multinational company founded in 1996. The company's headquarters is located in Sudbury, Ontario, Canada, and it operates in over 10 countries worldwide. In March 2021, Detotec North America Inc. announced the expansion of its operations in Canada, with the opening of a new manufacturing facility in Sudbury, Ontario, to better serve its customers in the mining industry.
*Definition- The Latin America industrial explosives market refers to the demand and supply of explosive materials used for various industrial applications, such as mining, construction, quarrying, and demolition, in the Latin America region.
