At 2.7% CAGR, the South & Central America Mining Explosives Market is Projected to be Worth US$ 654.70 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the South & Central America mining explosives market was valued at US$ 544.75 in 2023 and is expected to reach US$ 654.70 million by 2030, registering a CAGR of 2.7% from 2023 to 2030. Increasing utilization of pentaerythritol tetranitrate (PETN) and growing demand for metals in manufacturing high-end products are among the critical factors attributed to the South & Central 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 South & Central America mining explosives market growth in the coming years.

On the contrary, stringent government regulations hamper the growth South & Central America mining explosives market.

Based on type, the South & Central America mining explosives market is categorized into trinitrotoluene (TNT), ANFO, RDX, pentaerythritol tetranitrate (PETN), and others. The ANFO segment held 81.9% share of the South & Central America mining explosives market in 2023, amassing US$ 446.13 million. It is projected to garner US$ 540.10 million by 2030 to expand at 2.8% CAGR during 2023–2030.

In terms of application, the South & Central America mining explosives market is segmented into quarrying and non-metal mining, metal mining, and coal mining. The metal mining segment held 65.1% share of the South & Central America mining explosives market in 2023, amassing US$ 354.66 million. It is projected to garner US$ 432.92 million by 2030 to expand at 2.9% CAGR during 2023–2030.

Based on country, the South & Central America mining explosives market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 56.3% share of South & Central America market in 2023, amassing US$ 306.88 million. It is projected to garner US$ 374.46 million by 2030 to expand at 2.9% CAGR during 2023–2030.

Key players operating in the South & Central America mining explosives market are Orica Limited, Dyno Nobel, NOF Corporation, Hanwha Group, Solar Group, Omnia Group Company, and Sasol Ltd, among others.

• 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.