North America Mining Explosives Market Forecast to 2030
North America 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
Growing Demand for Metals in Manufacturing High-End Products Fuels the North America Mining Explosives Market
Manufacturing high-end products require a steady supply of raw materials such as metals and minerals. The higher demand for metals necessitates increased mining activity to extract and produce the required raw materials, ultimately leading to extensive use of mining explosives to access ore deposits, remove overburden, and fragment rocks. In addition, with the growing demand for metals, mining companies increasingly focus on improving safety measures and operational efficiency. This includes advancing mining explosive technologies and formulations that can optimize blasting operations. Mining explosives with better fragmentation capabilities, reduced vibrations, and improved safety features can help increase productivity and minimize environmental impacts.
Automotive, aerospace, medical devices, electronics, defense & military, energy generation, building & construction, luxury goods, and several high-end product manufacturing industries utilize metals. In the automotive industry, luxury, sports, electronic, and other high-end vehicles are manufactured using lightweight yet strong metals such as aluminum, titanium, and high-strength steel. These metals enhance vehicle performance, fuel efficiency, and safety. According to the Center for Strategic & International Studies, in 2021, the Transport Ministry distributed nearly US$ 31 million in rebates to reduce the upfront cost of electronic vehicle purchasing, increasing electronic vehicle registrations from 0.2% in 2020 to 4.4% in 2021.
Further, the aerospace industry relies heavily on metals for manufacturing aircraft and spacecraft components. Materials such as aluminum, titanium, and nickel alloys are used to construct airframes, engines, landing gear, and other critical parts. These metals possess properties such as high strength-to-weight ratio and heat and corrosion resistance, making them ideal for aerospace applications. The growth of the high-end product manufacturing industries, such as the aerospace and automotive industry, drives the demand for metals and subsequently bolsters the North America mining explosives market.
North America Mining Explosives Market Overview
North America marks presence of strong mining industry coupled with presence of several associations namely, The American Exploration & Mining Association, and International Society of Explosives Engineers, among others. Associations and organizations pertaining mining develop working strategies and influences the industrial response to legislative and regulatory issues. Several countries in North America support bases for supporting exploration, mining and related industries. According to the Government of Canada, mining exploration and deposit evaluation projects in Canada accounted for expenditure worth US$ 2.87 billion, by mining and mineral exploration companies in 2021, and US$ 1.64 billion in 2020. Moreover, the spending is projected to increase in 2022, reaching US$ 2.95 billion, based on reported spending intentions (si).
Further, North America accounts for 15.4% share of global mineral production in 2020, whereas the mining production rates increased by 13.8% during the period of 2000-2020, as per the World Mining Data 2022 report by Federal Ministry Republic of Austria. Mining explosives are widely used for loosening the mineral rocks, quarrying and other nonmetal mining. The rising mineral exploration and production rate indicate growing potential for utilization of mining explosives for mining activities in the region.
North America Mining Explosives Market Revenue and Forecast to 2030 (US$ Million)
North America Mining Explosives Market Segmentation
The North America mining explosives market is segmented based on type, application, and country.
Based on type, the North America mining explosives market is segmented into trinitrotoluene (TNT), ANFO, RDX, pentaerythritol tetranitrate (PETN), others. The ANFO segment held the largest share in 2023.
By application, the North America mining explosives market is categorized 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 North America mining explosives market is segmented into the US, Canada, and Mexico. The US dominated the North America mining explosives market in 2023.
Orica Limited, Dyno Nobel, NOF Corporation, Hanwha Group, Solar Group, Omnia Group Company, and Sasol Ltd are some of the leading companies operating in the North America mining explosives market.
Summary Info
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According to the research team’ research, the North America mining explosives market was valued at US$ 2,006.55 in 2023 and is expected to reach US$ 2,555.03 million by 2030, registering a CAGR of 3.5% from 2023 to 2030. Increasing utilization of pentaerythritol tetranitrate (PETN) and increasing application of ANFO (Ammonium Nitrate Fuel Oil) in mining industry are among the critical factors attributed to the North America mining explosives market expansion.
Pentaerythritol Tetranitrate (PETN) is a high-performance explosive widely used in various industries, including mining. Efficient fragmentation of rock formation is essential in mining to maximize ore or mineral recovery and minimize waste. PETN is known for its high explosive power and sensitivity, making it effective for blasting and fragmenting hard rock formation. It generates a rapid release of energy upon detonation, resulting in efficient fragmentation and excavation of mineral deposits during mining operations. PETN can be manufactured in various forms, including granules, prills, and castings, allowing flexibility and customization to meet specific mining requirements. Different formulation grain sizes can be tailored to match the geological conditions, rock properties, and desired blasting outcomes in different mining operations.
Further, PETN has favorable safety characteristics compared to some other high explosives. It has a relatively low sensitivity to shock and friction, reducing the risk of accidental detonations during handling, transportation, and storage. The inherent stability of PETN makes it a preferred choice for mining operations where safety is paramount. In addition, PETN is considered to have a lower environmental impact than other explosives. It has a relatively low level of toxic emissions and a reduced carbon footprint during production and use. The mining industry is increasingly focused on sustainable practices and minimizing environmental impact. Due to all these factors, demand for PETN is expected to increase, which would boost the North America mining explosives market growth in the coming years.
On the contrary, stringent government regulations hamper the growth North America mining explosives market.
Based on type, the North America mining explosives market is bifurcated into trinitrotoluene (TNT), ANFO, RDX, pentaerythritol tetranitrate (PETN), and others. The ANFO segment held 77.0% share of the North America mining explosives market in 2023, amassing US$ 1,544.50 million. It is projected to garner US$ 1,988.99 million by 2030 to expand at 3.7% CAGR during 2023–2030.
In terms of application, the North America mining explosives market is bifurcated into quarrying and non-metal mining, metal mining, and coal mining. The coal mining segment held 52.9% share of the North America mining explosives market in 2023, amassing US$ 1,061.98 million. It is projected to garner US$ 1,349.95 million by 2030 to expand at 3.5% CAGR during 2023–2030.
Based on country, the North America mining explosives market is categorized into US, Canada, and Mexico. The US held 79.3% share of North America market in 2023, amassing US$ 1,590.45 million. It is projected to garner US$ 2,037.24 million by 2030 to expand at 3.6% CAGR during 2023–2030.
Key players operating in the North America 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 North America 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 North America 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 North America 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. North America 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. North America 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 – North America Market Analysis
6.1 North America Mining Explosives Market Revenue (US$ Million)
6.2 North America Mining Explosives Market Forecast and Analysis
7. North America 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. North America 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. North America Mining Explosives Market – Country Analysis
9.1 North America: Overview
9.1.1 North America Mining Explosives Market, by key country – Revenue (2022)(US$ Million)
9.1.2 North America Mining Explosives Market Revenue and Forecasts and Analysis – By Countries
9.1.2.1 US Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.2.1.1 US Mining Explosives Market Breakdown by Type
9.1.2.1.2 US Mining Explosives Market Breakdown by Application
9.1.2.2 Canada Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.2.2.1 Canada Mining Explosives Market Breakdown by Type
9.1.2.2.2 Canada Mining Explosives Market Breakdown by Application
9.1.2.3 Mexico Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.2.3.1 Mexico Mining Explosives Market Breakdown by Type
9.1.2.3.2 Mexico 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 NOF Corp
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 Hanwha 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 Sasol Ltd
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 Solar Industries India 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 Omnia Holding 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
13. Appendix
LIST OF TABLES
Table 1. North America Mining Explosives Market Segmentation
Table 2. North America Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. US Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 4. US Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 5. Canada Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 6. Canada Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 7. Mexico Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 8. Mexico Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 9. Company Positioning & Concentration
LIST OF FIGURES
Figure 1. North America Mining Explosives Market Segmentation, By Country. 9
Figure 2. Porter’s Five Forces Analysis
Figure 3. Ecosystem: North America Mining Explosives Market
Figure 4. North America Mining Explosives Market Impact Analysis of Drivers and Restraints
Figure 5. North America Mining Explosives Market Revenue (US$ Million), 2020 – 2030
Figure 6. North America 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. North America 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. Exploration and deposit appraisal expenditure, 2002-2022 (si)
Figure 17. Mining Explosives Market, by key country – Revenue (2022) (US$ Million)
Figure 18. Mining explosives market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 19. US Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Canada Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Mexico Mining Explosives Market Revenue and Forecasts to 2030 (US$ Million)
The List of Companies – North America Mining Explosives Market
o Dyno Nobel
o Hanwha Corp
o NOF Corp
o Omnia Holding Ltd
o Orica Ltd
o Sasol Ltd
o Solar Industries India Ltd
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