GCC Mining Explosives Market (Type - ANFO, RDX, TNT, and Others; Application - Coal Mining, Metal Mining, and Others): Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report ongoing study by Infinium Global Research on the mining explosives market provides an in-depth analysis of segments and sub-segments in the GCC as well as regional mining explosives market. The study also highlights the impact of drivers, restraints, and macro indicators on the GCC and regional mining explosives market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the GCC mining explosives market. The global mining explosives market was valued at above USD 307 million in 2022 and is expected to reach over USD 402 million in 2030, with a CAGR of over 3% during the forecast period 2023-2030.

Market Insight

In the mining industry, explosives play a crucial role in fracturing rock formations. The process involves drilling holes and detonating explosives in rounds, with short delays between shots. Although the explosive used has low power, some of the later shots in a round may fail to detonate and instead undergo deflagration. Despite this risk, blasting remains the most cost-effective way to extract minerals from the earth, leading to reduced costs for a wide range of consumer goods, including electricity, sand, gravel, concrete, aluminum, and copper. Blasting is particularly useful in coal mines, where it allows for the efficient extraction of both rock and coal. However, safety is of utmost importance when working in underground environments, as there is always a risk of encountering flammable atmospheres that could ignite from the explosive force. To minimize this risk, many mines now use ANFO, which is a type of explosive that is pound for pound as powerful as dynamite, yet less expensive and less sensitive to initiation. As a result, ANFO is a safer option for mining operations.

In the GCC region mining explosives industry’s growth prospects are positive as most of the countries are looking to diversify their economies by focusing on the mining industry. The rising industrial development and early adoption of new technology in the region are driving the growth of the market. Mining resource extraction is leading to industrial development, giving way to new markets. Moreover, the expansion in the construction industry is supporting the rising consumption of metals which further propels the growth of the market. Increasing demand for residential, and commercial buildings is expanding the construction sector which further, boosts the mining explosive market. However, the strict regulation related to environmental protection may hamper the growth of the market. Although, the development of modern technology is providing growth opportunities to the market.

The GCC mining explosives market is segmented into Saudi Arabia, UAE, Qatar, Kuwait, Sudan, and the rest of the GCC. Saudi Arabia is expected to grow at a substantial rate due to the early adoption of new technology. Saudi Arabia’s Vision 2030 is supporting market players to expand their business and creating a new opportunity for the growth of the market. For instance, in December 2021, the first civil explosives manufacturing company to directly support the fields of mining, construction, infrastructure, cement industry, and oil exploration in Saudi Arabia, Saudi Chemical Company Limited is also manufacturing military products to turn into reality the Kingdom of Saudi Arabia’s Vision 2030 goals. Moreover, due to the constant and continuous projects carried out in Saudi Arabia, there is rising demand for mining explosives which further propels the growth of the market.

Report Scope of the Mining Explosives Market:

Segment Covered

The report on GCC mining explosives market covers segments such as type, and application. On the basis of type, the sub-markets include anfo, rdx, tnt, and others. On the basis of application, the sub-markets include coal mining, metal mining, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Chemring Group PLC, Orica Limited, SAUDI CHEMICAL HOLDING COMPANY, Dyno Nobel, Al Fajar Al Alamia Co., Modern Chemicals & Services Company (MCS), and Other Companies.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the mining explosives market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.