Witnessing moderate expansion of more than 4% in consumption volume, emulsion explosive market is slated for a steady growth outlook over the forecast period of 2022-2028. Water resistant capabilities of emulsion explosives and lesser complexities associated with their transportation would remain key factors fueling their sales in global market.
Notable increase in construction, mining, and infrastructure investments across the globe prominently push demand for emulsion explosives. Sales volume of emulsion explosives is projected to reach nearly 13 million tons by the end of 2028, as indicated by a new research study of Future Market Insights (FMI).
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Key Takeaways – Emulsion Explosives Market Study
- Bulk emulsion explosives are rapidly replacing packaged explosives in underground mining applications because of the additional benefits that they offer.
- Apart from mining companies, these explosives are also being used in the construction industry for tunnelling purposes and the demolition of old infrastructure. With more construction activities taking place around the globe, the demand for mining emulsion explosives has also increased tremendously.
- Blasting agents are chosen over mechanical drills as they cover a wider-area, consume less time, are easy to transport from one place to other, and are available at low costs.
- The best sourcing practice for mining companies is to engage in long-term supply contracts with fully-integrated, full-line emulsion explosive suppliers that produce their own blasting and explosives accessories.
- The rapidly growing construction industry in developing economies such as China, India, and Brazil is further fueling the demand for emulsion explosives in the regions.
- Consumer bargaining power is high as there are many emulsion explosive suppliers in the market. Also, major mining manufacturers have strong negotiation power because of their large consolidated business volume.
- Manufacturers cannot maintain sufficient stocks, owing to the regulatory framework for explosives that caps the limit of buffer stocks.
The market for emulsion explosives is currently growing at a moderate pace, as it is already mature in EU countries, and witnessing healthy growth in the Asian region. Also, over the recent past, the construction and mining industries have been focusing on worker safety while conducting blasting activities at their sites.
How is Emulsion Explosives Market Structure Defined?
Dominated by established international players, the emulsion explosives market is moderately fragmented. Some of the key players in the emulsion explosives market such as Orica Limited, hold a major share of market pie in terms of revenue. The best sourcing practice for mining companies is to engage in long-term supply contracts with fully integrated, full-line emulsion explosive suppliers that produce their own blasting and explosives accessories.
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Know More About Report Inclusions
Future Market Insights (FMI), in its new report, brings to fore an even-handed analysis of the global emulsion explosives market, offering comprehensive information with historical demand data for 2014-2021, and forecast statistics for 2022-2028. The research study offers insightful aspects of the global emulsion explosives market based on various categories such product type (bulk emulsion, cartridge emulsion, recycled oil emulsion), application (mining-surface mining, underground mining quarrying, others), and region (North America, Latin America, Europe, MEA, South Asia, East Asia and Oceania).
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