LATIN AMERICA INDUSTRIAL EXPLOSIVES MARKET ANALYSIS

Latin America Industrial Explosives MarketSize and Trends

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).

Figure 1. Latin America Industrial Explosives Market, Revenue Share (%), By Country, 2021

Market Trends

1. Rising use of explosives owing to increasing depth of underground mines

 Major companies involved in the market are focused on increasing the depth of underground mines, in order to extract more amount of minerals and are thus deploying a large amounts of explosives specially ANFO and bulk explosives. For instance, in April 2014, ‘KGHM Polska Mied?’ started a new project called ‘Deep Glogow’ for the extraction of copper and silver. The depth of the mine is 1,200 meters and is expected to yield minerals for a span of 40 years.

2. Growing utilization of blasting agents for tunneling rather than mechanical drills

 Majority of companies are more inclined towards the use of explosives for tunneling of roads and railway tracks instead of mechanical drilling. For instance, Orica, an Australian explosives manufacturer, offers over 15 denominations of explosives (ANFO, emulsions, etc.) to be used in tunneling projects

Figure 2: Latin America Industrial Explosives Market (US$ Mn) Analysis and Forecast, 2022 - 2030

Latin America industrial explosives market was valued at US$ 1,172.7Mn in 2021 and is expected to reach US$ 2,281.6 Million by 2030, growing at a CAGR of 7.9% between 2022 and 2030.