At 5.1% CAGR, Middle East & Africa Industrial Explosives Market is Projected to be Worth US$ 2,262.04 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa industrial explosives market was valued at US$ 1,519.61 million in 2023 and is expected to reach US$ 2,262.04 million by 2031, registering a CAGR of 5.1% from 2023 to 2031.Research and development of environment-friendly explosives and growth of mining industry are among the critical factors attributed to drive the Middle East & Africa industrial explosives market growth.

The growing environmental awareness, stringent regulations, and the need for sustainable practices in various applications such as mining, construction, and avalanche control are fostering the research on several environment-friendly explosives. Environment-friendly explosives or green explosives are developed to minimize their environmental impact while maintaining or improving performance and safety. Water-based explosives such as water gels and emulsions are gaining traction as they tend to be safe and produce few harmful byproducts. In the construction industry, the use of environment-friendly explosives can mitigate the impact of urban blasting operations. The reduced emissions by green explosives contribute to better air quality. Green explosives are an important subfamily of explosives due to the ban of explosives on the basis of heavy metals such as lead azide and lead styphnate, according to the REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) list. The introduction of environment-friendly explosives is expected to become a significant trend in the Middle East & Africa industrial explosives market over the coming years.

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

Based on type, the Middle East & Africa industrial explosives market is segmented into high explosives, blasting agents, and low explosives. The blasting agents segment held 74.2% market share in 2023, amassing US$ 1,127.26 million. It is projected to garner US$ 1,698.87 million by 2031 to register 5.3% 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 Middle East & Africa industrial explosives market is segmented into mining, construction, and others. The mining segment held 88.1% share of Middle East & Africa industrial explosives market in 2023, amassing US$ 1,339.41 million. It is anticipated to garner US$ 2,013.73 million by 2031 to expand at 5.2% CAGR during 2023–2031.

By country, the Middle East & Africa industrial explosives market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 57.1% share of Middle East & Africa industrial explosives market in 2023. It was assessed at US$ 868.02 million in 2023 and is likely to hit US$ 1,320.82 million by 2031, registering a CAGR of 5.4% during 2023–2031.

Key players operating in the Middle East & Africa 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.

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