At 4.2% CAGR, Europe Industrial Explosives Market is Projected to be Worth US$ 2,422.65 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe industrial explosives market was valued at US$ 1,747.62 million in 2023 and is expected to reach US$ 2,422.65 million by 2031, registering a CAGR of 4.2% from 2023 to 2031. Surge in government support for infrastructure development and utilization of explosives for avalanche control are among the critical factors attributed to drive the Europe industrial explosives market growth.

Industrial explosives play a major role in infrastructure development, providing an efficient and cost-effective means for large-scale excavation and demolition. Their applications span from the construction of roads, dams, tunnels, and other civil engineering projects. The utilization of industrial explosives allows for the rapid breaking of rock and other hard materials, which is essential for creating foundations and facilitating the extraction of resources. In mountainous regions, tunnels are constructed to ensure the passage of roads and railways. Blasting allows engineers to efficiently carve through rocks, resulting in the formation of stable tunnels. The development of dams and reservoirs also relies heavily on industrial explosives. Controlled blasting techniques are used for the removal of substantial amounts of rock.

The government-supported infrastructure projects generally include roads, dams, bridges, tunnels, ports, airport pavements, and highways. The growing investments from government organizations lead to a rise in infrastructure construction. In 2022, the Department for Transport of the UK announced the funding of US$ 34.83 million to develop net zero highways. The surge in government support for infrastructure development fuels the Europe industrial explosives market growth.

On the contrary, stringent government regulations hamper the growth of North America industrial explosives market.

Based on type, the Europe industrial explosives market is segmented into high explosives, blasting agents, and low explosives. The blasting agents segment held 76.4% market share in 2023, amassing US$ 1,334.83 million. It is projected to garner US$ 1,870.83 million by 2031 to register 4.3% CAGR during 2023-2031. The high explosives system segment is further sub segmented into dynamites, gelatins, and RDX. The blasting agents system segment is further sub segmented into slurries and emulsions, ANFO, and blends.

In terms of application, the Europe industrial explosives market is segmented into mining, construction, and others. The mining segment held 74.1% share of Europe industrial explosives market in 2023, amassing US$ 1,295.27 million. It is anticipated to garner US$ 1,833.74 million by 2031 to expand at 4.4% CAGR during 2023-2031.

By country, the Europe industrial explosives market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that Russia captured 65.5% share of Europe industrial explosives market in 2023. It was assessed at US$ 1,144.09 million in 2023 and is likely to hit US$ 1,616.60 million by 2031, registering a CAGR of 4.4% during 2023-2031.

Key players operating in the Europe industrial explosives market are Orica Ltd; AECI Ltd; Austin Powder Company; Dyno Nobel Ltd; Enaex SA; MaxamCorp Holding, S.L.; and EPC Groupe, among others.


Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com