Industrial Explosives Market 2022 Size, Major Company Analysis, Share, Trends, Business Model and Forecast by 2027

The latest research studyIndustrial Explosives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027by IMARC Group, finds that the global industrial explosives market reached a value of US$7.22 billion in 2021. Looking ahead, IMARC Group expects the market to reach a value of 10 US$.08 billion by 2027, growing at a CAGR of 5.54% during 2022-2027.

Industrial explosives are highly dangerous blasting agents that are made from a combination of hydrogen, carbon, oxygen and nitrogen. When effectively ignited, they convert to high temperature and pressure gas for detonation, which causes rock fragmentation. Industrial explosives help eliminate the production of toxic gases and reduce labor costs and the time required for safe and efficient mining, thereby optimizing business operations. Therefore, they are widely used in quarrying, mining and construction industry after their evaluation based on several parameters including storage time, velocity of detonation (VOD), density, resistance to water, etc. Currently, industrial explosives are commercially available in slurries, ammonium nitrate fuel oil (ANFO), emulsions, and aqueous gel type explosives.

Impact of COVID-19 on the market: (positive impact)

As the novel coronavirus (COVID-19) crisis engulfs the world, we continuously monitor changes in markets, as well as industry consumer behaviors around the world and our estimates on the latest market trends and forecasts are made. after considering the impact of this pandemic.

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Global Industrial Explosives Market Trends and Drivers:

The growing number of mining activities and growing demand for coal and various rare earth metals including gold, bauxite, iron, ore, silver, surface minerals, etc., in many Vertical industrial sectors are mainly driving the industrial explosives market. Moreover, the widespread adoption of the products in surface mining, tunnel construction, infrastructure development projects, etc., is further catalyzing the growth of the market.

Also, the introduction of semi-automated explosive delivery systems that help execute safer and more efficient underground blasting procedures in deeper deposits acts as another significant growth driver. Additionally, increasing investments in R&D activities for mass production of the product variants to optimize drilling, blasting and downstream operations are expected to fuel the industrial explosives market over the forecast period.

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Industrial Explosives Market Report scope

Report cover


Market size value in 2021

US$7.22 billion

Market forecast in 2027

US$10.08 billion

Rate of growth

CAGR of 5.54% from 2022 to 2027

Base year for the estimate


Historical data


Forecast period


Report cover

Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

Segments Covered

Type, end-use industry and region

Regional scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

Profiled Key Companies

AECI Limited, Austin Powder Company, EPC Groupe, Incitec Pivot limited, Irish Industrial Explosives Limited, Keltech Energies Ltd., NOF Corporation, Orica Limited, Sigdo Koppers SA and Solar Industries India Limited.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Customization overview

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Report segmentation:

The report has segmented the market into the following categories:

Breakdown by type:

Powerful explosives

Blasting agents

oh Ammonium Nitrate Fuel Oil (ANFO)

oh Water gel explosives

oh Emulsions

oh Nitrogen explosives

oh Others

Breakdown by end-use industry:


oh Metal mining

oh Non-metallic mining

oh Extraction



By geography:

North America

oh United States

oh Canada

Asia Pacific

oh China

oh Japan

oh India

oh South Korea

oh Australia

oh Indonesia

oh Others


oh Germany

oh France

oh UK

oh Italy

oh Spain

oh Russia

oh Others

Latin America

oh Brazil

oh Mexico

oh Others

Middle East and Africa

List of major key players:

The major market players are AECI Limited, Austin Powder Company, EPC Groupe, Incitec Pivot limited, Irish Industrial Explosives Limited, Keltech Energies Ltd., NOF Corporation, Orica Limited, Sigdo Koppers SA and Solar Industries India Limited.

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