An explosive refers to a reactive substance that is comprised of a vast amount of potential energy that can produce a massive explosion if released suddenly. There are three classes of namely low explosives, industrial explosives, and military explosives. Industrial explosives find applications in mining such as metal mining, quarrying, and non-metal mining and in construction such as tunneling and blasting older buildings for reconstructions. It is usually accompanied by light, sound, and pressure. The process of initiation of explosives is termed as detonation. One unit of explosives when initiated can expand up to 1,000 units within several milliseconds creating high pressure in the blasthole and gaining temperatures ranging from 1,500°C to 4,000°C and an approximate velocity of 2,500–8,000 meters/second.  Major uses of explosives are in fireworks, mining, blasting rock masses for tunneling, construction activities, quarrying, hydroelectric power projects, military wars, mineral extraction, and the oil & gas industry, to name a few.

In 2021, Latin America Industrial Explosive is estimated to reach US$ 1,172.7 Million in terms of value.

Market Dynamics

Latin America region is witness increase in number of mining activities in recent past owing to increase in demand of metal and non-metal components. Furthermore, region also witness growing inclination of foreign investors it led to a boost in the demand for explosives such as blasting agents and high explosives in the region. According to Coherent Market Insights’ analysis, Investments in the mining sector in Latin America had risen by over 50% from 2010 to 2014. According to the same source, Total investment in the mining sector in Mexico reached US$ 14.6 Mn collectively in both 2012 and 2013. Hence, these factors are expected to drive growth of the Latin America industrial explosives market in the near future.

Moreover, Latin America region mainly contributed by developing economies such as Brazil, Chile and many other. These countries are going through rapid infrastructure changes and investing heavily in infrastructure market during the forecast period. According to Coherent Market Insights’ analysis, investment in construction and infrastructural activities in Brazil rose from 2.5% of GDP to 4% of GDP from 2011 to 2015. Thus these factors are expected to drive the global market..

Key features of the study:

• This report provides an in-depth analysis of Latin America industrial explosives market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022 to 2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading  market players
• It profiles leading players in the Latin America industrial explosives market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
• Key companies covered as a part of this study includes MAXAM, AEL Mining Services Ltd., EXSA SA, Enaex, Austin International, Orica Limited, Keltec Energies, Economic Explosives, IBP Co., Noble Explochem, Accurate Energetic Systems, LLC. and Detotec North America Inc.
• Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
• The Latin America industrial explosives market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Latin America industrial explosives market

Detailed Segmentation

• Latin America industrial explosives Market, By Explosive Type:
• • High Explosives
  • Blasting Agents
•  Latin America industrial explosives Market, By End-use Industry:
  • Mining
    • Metal Mining
    • Non-Metal Mining
    • Quarrying
  • Construction
  • Others
• Latin America industrial explosives Market, By Country:
  • Chile
  • Peru
  • Brazil
  • Colombia
  • Mexico
  • Argentina
  • Rest of Latin America
• Company Profiles
  • MAXAM*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
    • Future Plans
  • AEL Mining Services Ltd.
  • EXSA SA
  • Enaex
  • Austin International
  • Orica Limited
  • Keltec Energies
  • Economic Explosives
  • IBP Co.,
  • Noble Explochem
  • Accurate Energetic Systems, LLC.
  • Detotec North America Inc.

 “*” marked represents similar segmentation in other categories in the respective section.