Asia Pacific Mining Explosives Market Forecast to 2030
Asia Pacific Mining Explosives Market Forecast to 2030 – Regional Analysis – by Type [Trinitrotoluene (TNT), ANFO, RDX, Pentaerythritol Tetranitrate (PETN), and Others] and Application (Quarrying and Non-Metal Mining, Metal Mining, and Coal Mining)
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Description
Rising Exploration Activities of Rare Earth Metals Fuels the Asia Pacific Mining Explosives Market
Rare earth metals, also known as rare earth elements (REEs), are elements found in the earth’s crust. These elements are known for their unique properties and have various applications across different industries, including electronics, renewable energy, automotive, defense & aerospace, and medical equipment. The growing demand for rare earth metals from these sectors has surged the need to explore new deposits of rare earth metals. According to the United States Geological Survey, global rare earth reserves estimated at Vietnam’s rare earth mine production jumped to 4,300 metric tons in 2022 from 400 metric tons in 2021.
Additionally, in April 2023, National Geophysical Research Institute (NGRI) discovered large deposits of 15 rare earth elements (REE) in Anantapur district, Andhra Pradesh, India. Successful exploration results and identifying economically viable rare earth metal deposits can lead to expansion operations. Before commencing mining operations, extensive site preparation and infrastructure development are required. This includes clearing vegetation, leveling terrain, constructing access roads, and establishing mining facilities. Mining explosives are employed in these activities to clear land, shape terrain, and build access routes, facilitating the development of mining sites for rare earth metals.
Further, rare earth metals are often embedded within hard rock formations, making their extraction challenging. The exploration activities for rare earth metals involve extensive drilling and blasting to extract mineral samples and access the viability of deposits. Mining explosives are crucial in breaking down rocks and facilitating access to mineral-rich areas. As companies move from exploration to production, the demand for mining explosives escalates to support larger-scale mining activities. Thus, the growing exploration activities of rare earth metals would offer lucrative opportunities for the Asia Pacific mining explosives market during the forecast period.
Asia Pacific Mining Explosives Market Overview
Asia Pacific marks the presence of ten major surface mining projects, namely, Green Mine (China), Sangatta Mine (Indonesia), Heidaigou Mine (China), Oyu Tolgoi Copper-Gold Mine (Mongolia), Gevra OC Mine (India), Letpadaung Copper Mine (Myanmar), Li Mine (Thailand), FTB Project (Thailand), and Pasir Mine (Indonesia). Asia is also home to leading mining companies such as Mitsubishi Materials Corporation, Jiangxi Copper Co Ltd, Aluminum Corporation of China Ltd, Coal India Limited, China Molybdenum Co Ltd, and BHP. According to Coal 2021 report published by the International Energy Agency, in 2020, the total coal consumption in China was more than 50% of the global coal consumption. The growing need for coal in the country is attributed to the rising electricity demand and strong presence of chemicals & materials industry.
According to the report published by the US Geological Survey in 2022, China was the largest supplier of twenty-five non-fuel mineral commodities to several other countries in 2021. Out of twenty-five listed minerals, China produced sixteen critical minerals. Moreover, China, Tajikistan, Australia, and Vietnam accounted for major antimony mine production and reserves. Further, India, China, and Australia were the leading countries in global mine production and reserves for garnets. According to the World Mining Data 2022 report released by the Federal Ministry Republic of Austria, Australia witnessed a rise of 142.2% in the mining production rate for minerals from 2000 to 2020. Mining, quarrying, and perforating operations involve the utilization of explosives. The demand for mining explosives is directly proportional to the region’s mining operations and mineral reserves. Therefore, the high number of potential metal and nonmetal reserves and a rise in mining operations across the region is expected to boost the demand for mining explosives during the forecast period.
Asia Pacific Mining Explosives Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Mining Explosives Market Segmentation
The Asia Pacific mining explosives market is segmented based on type, application, and country.
Based on type, the Asia Pacific mining explosives market is categorized into trinitrotoluene (TNT), ANFO, RDX, pentaerythritol tetranitrate (PETN), others. The ANFO segment held the largest share in 2023.
By application, the Asia Pacific mining explosives market is segmented into quarrying and non-metal mining, metal mining, and coal mining. The coal mining segment held the largest share in 2023.
Based on country, the Asia Pacific mining explosives market is segmented into Australia, China, India, Indonesia, Vietnam, and the Rest of Asia Pacific. China dominated the Asia Pacific mining explosives market in 2023.
Orica Ltd, Dyno Nobel, China Poly Group Corp Ltd, Hanwha Corp, Sasol Ltd, NOF Corp, Koryo Nobel Explosives Co Ltd, Solar Industries India Ltd, and Omnia Holding Ltd are some of the leading companies operating in the Asia Pacific mining explosives market.
Summary Info
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According to the research team’ research, the Asia Pacific mining explosives market was valued at US$ 14,226.78 in 2023 and is expected to reach US$ 19,342.89 million by 2030, registering a CAGR of 4.5% from 2023 to 2030. Increasing application of ANFO (Ammonium Nitrate Fuel Oil) in mining industry and growing demand for metals in manufacturing high-end products are among the critical factors attributed to the Asia Pacific mining explosives market expansion.
ANFO (Ammonium Nitrate Fuel Oil) is a widely used explosive mixture in the mining industry. ANFO is more cost-effective than other explosive types. Its production is relatively inexpensive. Also, ANFO offers good energy output per unit cost. These factors are crucial in regions such as the Middle East & Africa and Asia Pacific, where cost consideration and results play a significant role in mining operations. Due to its affordability, mining companies often prefer ANFO, especially for bulk blasting operations. Several countries in the developing region perform significant mining activities and large-scale mining operations. These operations often require substantial quantities of explosives for various applications such as rock fragmentation, overburden removal, and access to mineral deposits.
Further, the raw material required to produce ANFO, namely ammonium nitrate and fuel oil, are often readily available. This easy availability of raw materials supports the production and distribution of ANFO. Also, ANFO is relatively easy to use in mining operations. It can be loaded into boreholes quickly and efficiently. Further, ANFO is considered relatively safer to handle than other explosives. It has a lower sensitivity to initiation, making it more stable during transportation and handling. Owing to these benefits, ANFO is a convenient choice for large-scale mining companies. The discovery of new mineral deposits, growing infrastructure developments, and increasing demand for minerals and resources, has resulted in increasing mining activities across the globe. The expansion of the mining industry and mining activities generate demand for mining explosives, including ANFO, contributing to the Asia Pacific mining explosives market growth.
On the contrary, stringent government regulations hamper the growth Asia Pacific mining explosives market.
Based on type, the Asia Pacific mining explosives market is segmented into trinitrotoluene (TNT), ANFO, RDX, pentaerythritol tetranitrate (PETN), and others. The ANFO segment held 68.1% share of the Asia Pacific mining explosives market in 2023, amassing US$ 9,694.57 million. It is projected to garner US$ 13,321.07 million by 2030 to expand at 4.6% CAGR during 2023–2030.
In terms of application, the Asia Pacific mining explosives market is categorized into quarrying and non-metal mining, metal mining, and coal mining. The coal mining segment held 75.0% share of the Asia Pacific mining explosives market in 2023, amassing US$ 10,665.83 million. It is projected to garner US$ 14,594.41 million by 2030 to expand at 4.6% CAGR during 2023–2030.
Based on country, the Asia Pacific mining explosives market is categorized into Australia, China, India, Indonesia, Vietnam, and the Rest of Asia Pacific. China held 63.0% share of Asia Pacific market in 2023, amassing US$ 8,961.67 million. It is projected to garner US$ 12,437.91 million by 2030 to expand at 4.8% CAGR during 2023–2030.
Key players operating in the Asia Pacific mining explosives market are Orica Limited, Dyno Nobel, NOF Corporation, Hanwha Group, Solar Group, Omnia Group Company, and Sasol Ltd, among others.
In Feb 2019, Hanwha Corp signed US$ 8.3 million mining service contract in Indonesia, aimed to expand its global mining business. The company strategized to supply industrial explosives to an Indonesian mining company. In May 2023, Orica Ltd launched 4D bulk explosives system, an advanced bulk system for underground, surface coal and surface metal mining applications. The product offers a wide energy range to match varying rock properties and mine design requirements.
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific mining explosives market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific mining explosives market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 The Research Team Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Mining Explosives Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers:
4.3.2 Manufacturers:
4.3.3 End Use:
5. Asia Pacific Mining Explosives Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Metals in Manufacturing High-End Products
5.1.2 Increasing Application of ANFO (Ammonium Nitrate Fuel Oil) in Mining Industry
5.2 Market Restraints
5.2.1 Stringent Government Regulations
5.3 Market Opportunities
5.3.1 Rising Exploration Activities of Rare Earth Metals
5.4 Future Trends
5.4.1 Increasing Utilization of Pentaerythritol Tetranitrate (PETN)
5.5 Impact Analysis
6. Mining Explosives Market – Asia Pacific Market Analysis
6.1 Asia Pacific Mining Explosives Market Revenue (US$ Million)
6.2 Asia Pacific Mining Explosives Market Forecast and Analysis
7. Asia Pacific Mining Explosives Market Analysis – Type
7.1 Trinitrotoluene (TNT)
7.1.1 Overview
7.1.2 Trinitrotoluene (TNT) Market, Revenue and Forecast to 2030 (US$ Million)
7.2 ANFO
7.2.1 Overview
7.2.2 ANFO Market Revenue and Forecast to 2030 (US$ Million)
7.3 RDX
7.3.1 Overview
7.3.2 RDX Market Revenue and Forecast to 2030 (US$ Million)
7.4 Pentaerythritol Tetranitrate (PETN)
7.4.1 Overview
7.4.2 Pentaerythritol Tetranitrate (PETN) Market Revenue and Forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others Market Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Mining Explosives Market Analysis – Application
8.1 Quarrying and Non-Metal Mining
8.1.1 Overview
8.1.2 Quarrying and Non-Metal Mining Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Metal Mining
8.2.1 Overview
8.2.2 Metal Mining Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Coal Mining
8.3.1 Overview
8.3.2 Coal Mining Market Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Mining Explosives Market – Country Analysis
9.1 Asia Pacific: Overview
9.1.1 Asia Pacific Mining Explosives Market, by Key Country – Revenue (2022) (US$ Million)
9.1.2 Asia Pacific Mining Explosives Market Breakdown by Country
9.1.2.1 Australia Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.2.1.1 Australia Mining Explosives Market Breakdown by Type
9.1.2.1.2 Australia Mining Explosives Market Breakdown by Application
9.1.2.2 China Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.2.2.1 China Mining Explosives Market Breakdown by Type
9.1.2.2.2 China Mining Explosives Market Breakdown by Application
9.1.2.3 India Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.2.3.1 India Mining Explosives Market Breakdown by Type
9.1.2.3.2 India Mining Explosives Market Breakdown by Application
9.1.2.4 Indonesia Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.2.4.1 Indonesia Mining Explosives Market Breakdown by Type
9.1.2.4.2 Indonesia Mining Explosives Market Breakdown by Application
9.1.2.5 Vietnam Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.2.5.1 Vietnam Mining Explosives Market Breakdown by Type
9.1.2.5.2 Vietnam Mining Explosives Market Breakdown by Application
9.1.2.6 Rest of Asia Pacific Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.2.6.1 Rest of Asia Pacific Mining Explosives Market Breakdown by Type
9.1.2.6.2 Rest of Asia Pacific Mining Explosives Market Breakdown by Application
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
11. Industry Landscape
11.1 Product launch
11.2 Expansion
11.3 Joint Venture
12. Company Profiles
12.1 Orica Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Dyno Nobel Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 China Poly Group Corp Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 NOF Corp
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Hanwha Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Sasol Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Koryo Nobel Explosives Co Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Solar Industries India Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Omnia Holding Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
LIST OF TABLES
Table 1. Asia Pacific Mining Explosives Market Segmentation
Table 2. Asia Pacific Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Australia Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 4. Australia Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 5. China Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 6. China Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 7. India Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 8. India Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 9. Indonesia Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 10. Indonesia Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 11. Vietnam Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 12. Vietnam Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 13. Rest of Asia Pacific Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 14. Rest of Asia Pacific Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 15. Company Positioning & Concentration
LIST OF FIGURES
Figure 1. Asia Pacific Mining Explosives Market Segmentation, By Country
Figure 2. Porter’s Five Forces Analysis
Figure 3. Ecosystem: Asia Pacific Mining Explosives Market
Figure 4. Asia Pacific Mining Explosives Market Impact Analysis of Drivers and Restraints
Figure 5. Asia Pacific Mining Explosives Market Revenue (US$ Million), 2020 – 2030
Figure 6. Asia Pacific Mining Explosives Market Share (%) – Type, 2022 and 2030
Figure 7. Trinitrotoluene (TNT) Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. ANFO Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. RDX Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Pentaerythritol Tetranitrate (PETN) Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Asia Pacific Mining Explosives Market Share (%) – Application, 2022 and 2030
Figure 13. Quarrying and Non-Metal Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Metal Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Coal Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Asia Pacific Mining Explosives Market, by Key Country – Revenue (2022) (US$ Million)
Figure 17. Asia Pacific Mining Explosives Market Breakdown by Key Countries, 2022 And 2030 (%)
Figure 18. Australia Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. China Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. India Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Indonesia Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. Vietnam Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
Figure 23. Rest of Asia Pacific Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
The List of Companies – Asia Pacific Mining Explosives Market
o Orica Ltd
o Dyno Nobel
o China Poly Group Corp Ltd
o Hanwha Corp
o Sasol Ltd
o NOF Corp
o Koryo Nobel Explosives Co Ltd
o Solar Industries India Ltd
o Omnia Holding Ltd
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