The APAC and MEA mining explosives market size was valued at US$ 14,622.75 million in 2022 and is projected to reach US$ 20,353.54 million by 2030; it is expected to record a CAGR of 4.2% from 2023 to 2030.
MARKET ANALYSIS
Mining explosives are chemical compounds that react at high speed. The explosives utilized in mining are classified based on characteristics such as density, detonation velocity, explosive heat, mass strength, critical diameter, and water resistance. Explosives are produced with precise technology, high-quality raw materials, and a strong emphasis on carrying out mining operations safely. ANFO (Ammonium Nitrate Fuel Oil) is one of the most widely used explosives in underground mining and surface hard rock quarrying operations. These explosives are highly utilized in the coal industry for mining and excavation purposes.
GROWTH DRIVERS AND CHALLENGES
Manufacturing high-end products require a steady supply of raw materials such as metals and minerals. The Middle East & Africa and Asia Pacific are rich in natural resources, including precious 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, electronics, and other high-end vehicles are manufactured using lightweight yet strong metals such as aluminum, titanium, and high-strength steel. 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 APAC and MEA mining explosives market size. Further, mining operations are subject to stringent environmental and safety standards to minimize their impact on ecosystems, water resources, and communities. Compliance with these standards involves implementing mitigation measures, monitoring programs, and reporting requirements. Mining companies in the Middle East & Africa and Asia Pacific are required to ensure their operations meet these standards, which can involve high costs and operational adjustments. Thus, this factor may restraint the APAC and MEA mining explosives market growth.
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APAC and MEA Mining Explosives Market: Strategic Insights
Market Size Value in US$ 14,622.75 million in 2022 Market Size Value by US$ 20,353.54 million by 2030 Growth rate CAGR of 4.2% from 2023 to 2030 Forecast Period 2023-2030 Base Year 2022
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APAC and MEA Mining Explosives Market: Strategic Insights
| Market Size Value in | US$ 14,622.75 million in 2022 |
| Market Size Value by | US$ 20,353.54 million by 2030 |
| Growth rate | CAGR of 4.2% from 2023 to 2030 |
| Forecast Period | 2023-2030 |
| Base Year | 2022 |
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REPORT SEGMENTATION AND SCOPE
The "APAC and MEA Mining Explosives Market Forecast to 2030" is a specialized and in-depth study with a major focus on the APAC and MEA mining explosives market trends and opportunities. The report aims to provide an overview of the market with detailed market segmentation based on type, application, and geography. The APAC and MEA mining explosives market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the use of mining explosives worldwide along with their demand in major regions and countries. In addition, it provides a qualitative assessment of various factors affecting the mining explosives market performance in major regions and countries. The report also includes a comprehensive analysis of the leading market players and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative mining explosives market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the APAC and MEA mining explosives market, which helps understand the entire supply chain and various factors affecting the market growth.
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SEGMENTAL ANALYSIS
The APAC and MEA mining explosives market is segmented on the basis of type and application. Based on type, the market is segmented into trinitrotoluene (TNT), ANFO, RDX, pentaerythritol tetranitrate (PETN), and others. Based on application, the market is segmented into quarrying and non-metal mining, metal mining, and coal mining.
Based on type, the ANFO segment held a significant APAC and MEA mining explosives market share in the year 2022. ANFO comprises approximately 94% ammonium and 6% fuel oil by weight. It is an insensitive explosive, making it highly safe. By application, the coal mining segment led the APAC and MEA mining explosives market with the largest market share. Coal is the most abundant source of electricity across the world and results in generating more than 36% of global electricity. The coal reserves are huge compared to reserves of other minerals. Coal mining is an essential source for electricity generation in Asia Pacific and MEA countries.
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REGIONAL ANALYSIS
The report provides a detailed overview of the APAC and MEA mining explosives market with respect to regions—Asia-Pacific (APAC) and the Middle East & Africa (MEA). Asia Pacific accounted for a significant share of the market and was valued at more than US$ 13 billion in 2022. The mining explosives market growth in China, India, Indonesia, and Australia is attributed to growing coal and other mineral production in the countries. China, India, Indonesia, and Australia are among the major coal producers and rank in the list of top five coal-producing nations across the world. Further, the mining explosives market in the Asia Pacific reported constant demand due to increased metal mining and quarrying activities. The mining explosives market in the Middle East & Africa is also expected to be valued at around US$ 1 billion by 2030.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnerships, acquisitions, and new product launches are among the major strategies adopted by the players operating in the APAC and MEA mining explosives market.
- In March 2023, Orica Ltd launched a 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.
- In March 2023, Omnia Holding Ltd's Bulk Mining Explosives signed a Conditional Sale and Purchase of Shares Agreement with PT Multi Nitrotama Kimia and formed a joint venture. The joint venture named PT Kemitraan MNK BME has integrated offering of explosives range for surface and underground mines.
IMPACT OF COVID-19 Pandemic/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries in Asia Pacific (APAC) and the Middle East & Africa (MEA). The crisis disturbed APAC and MEA supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. These disruptions restricted the availability of mining explosives. It caused delays in production and increased costs, negatively impacting the overall supply of mining explosives. Many mining operations were temporarily halted or scaled back during the COVID-19 pandemic to comply with lockdown measures and ensure the safety of workers. Reduced mining activities resulted in lower demand for mining explosives. In addition, the pandemic impacted the global economy, leading to fluctuations in commodity prices and reduced demand for minerals and metals. As a result, mining companies were cautious about their investments, which influenced their demand for mining explosives.
The global marketplace is recovering from the losses as governments of different countries have announced relaxation in the restrictions. Mining activities are rebounding as countries gradually recover from the pandemic and vaccination efforts continue. Manufacturers are permitted to operate at full capacity to overcome the supply gap. Increased infrastructure investments and stimulus packages in many regions drive the demand for minerals and metals. Thus, the APAC and MEA mining explosives market is anticipated to grow strongly during the forecast period.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Orica Limited, Al Fajar Al Alamia Co SAOG, Dyno Nobel, China Poly Group Corporation, NOF Corporation, Hanwha Group, Anhui Jiangnan Chemical Co Ltd, Koryo Nobel Explosives, Solar Group, and Omnia Group Company are among the key players operating in the APAC and MEA mining explosives market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, India, Indonesia, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Vietnam, Zimbabwe
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Mining Explosives Market, by Type
1.3.2 Mining Explosives Market, by Application
1.3.3 Mining Explosives Market, by Geography
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Mining Explosives Market Landscape
4.1 Market 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 Intensity of 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
4.4 Expert Opinion
5. 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 of Drivers and Restraints
6. Mining Explosives– APAC and MEA Market Analysis
6.1 Mining Explosives Market Overview
6.2 APAC and MEA Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
6.3 Competitive Positioning – Key Market Players
7. APAC and MEA Mining Explosives Market Analysis – By Type
7.1 Overview
7.2 Mining Explosives Market, By Type (2022 and 2030)
7.3 Trinitrotoluene(TNT)
7.3.1 Overview
7.3.2 Trinitrotoluene(TNT): Mining Explosives Market – Revenue and Forecast to 2030 (US$ Million)
7.4 ANFO
7.4.1 Overview
7.4.2 ANFO: Mining Explosives Market – Revenue and Forecast to 2030 (US$ Million)
7.5 RDX
7.5.1 Overview
7.5.2 RDX: Mining Explosives Market – Revenue and Forecast to 2030 (US$ Million)
7.6 Pentaerythritol Tetranitrate (PETN)
7.6.1 Overview
7.6.2 Pentaerythritol Tetranitrate (PETN): Mining Explosives Market – Revenue and Forecast to 2030 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Mining Explosives Market – Revenue and Forecast to 2030 (US$ Million)
8. APAC and MEA Mining Explosives Market Analysis – By Application
8.1 Overview
8.2 Mining Explosives Market, By Application (2022 and 2030)
8.3 Quarrying and Non-Metal Mining
8.3.1 Overview
8.3.2 Quarrying and Non-Metal Mining: Mining Explosives Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Metal Mining
8.4.1 Overview
8.4.2 Metal Mining: Mining Explosives Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Coal Mining
8.5.1 Overview
8.5.2 Coal Mining: Mining Explosives Market – Revenue and Forecast to 2030 (US$ Million)
9. APAC and MEA Mining Explosives Market – Geographic Analysis
9.1 Overview
9.2 Asia Pacific: Mining Explosives Market
9.2.1 Asia Pacific: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.2.2 Asia Pacific: Mining Explosives Market, by Type
9.2.3 Asia Pacific: Mining Explosives Market, by Application
9.2.4 Asia Pacific: Mining Explosives Market, by Key Country
9.2.4.1 Australia: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.2.4.1.1 Australia: Mining Explosives Market, by Type
9.2.4.1.2 Australia: Mining Explosives Market, by Application
9.2.4.2 China: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.2.4.2.1 China: Mining Explosives Market, by Type
9.2.4.2.2 China: Mining Explosives Market, by Application
9.2.4.3 India: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.2.4.3.1 India: Mining Explosives Market, by Type
9.2.4.3.2 India: Mining Explosives Market, by Application
9.2.4.4 Indonesia: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.2.4.4.1 Indonesia: Mining Explosives Market, by Type
9.2.4.4.2 Indonesia: Mining Explosives Market, by Application
9.2.4.5 Vietnam: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.2.4.5.1 Vietnam: Mining Explosives Market, by Type
9.2.4.5.2 Vietnam: Mining Explosives Market, by Application
9.2.4.6 Rest of Asia Pacific: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.2.4.6.1 Rest of Asia Pacific: Mining Explosives Market, by Type
9.2.4.6.2 Rest of Asia Pacific: Mining Explosives Market, by Application
9.3 Middle East and Africa: Mining Explosives Market
9.3.1 Middle East and Africa: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.3.2 Middle East and Africa: Mining Explosives Market, by Type
9.3.3 Middle East and Africa: Mining Explosives Market, by Application
9.3.4 Middle East and Africa: Mining Explosives Market, by Key Country
9.3.4.1 South Africa: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.3.4.1.1 South Africa: Mining Explosives Market, by Type
9.3.4.1.2 South Africa: Mining Explosives Market, by Application
9.3.4.2 Zimbabwe: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.3.4.2.1 Zimbabwe: Mining Explosives Market, by Type
9.3.4.2.2 Zimbabwe: Mining Explosives Market, by Application
9.3.4.3 Nigeria: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.3.4.3.1 Nigeria: Mining Explosives Market, by Type
9.3.4.3.2 Nigeria: Mining Explosives Market, by Application
9.3.4.4 Saudi Arabia: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.3.4.4.1 Saudi Arabia: Mining Explosives Market, by Type
9.3.4.4.2 Saudi Arabia: Mining Explosives Market, by Application
9.3.4.5 UAE: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.3.4.5.1 UAE: Mining Explosives Market, by Type
9.3.4.5.2 UAE: Mining Explosives Market, by Application
9.3.4.6 Rest of MEA: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
9.3.4.6.1 Rest of MEA: Mining Explosives Market, by Type
9.3.4.6.2 Rest of MEA: Mining Explosives Market, by Application
10. Impact of COVID-19 Pandemic on APAC and MEA Mining Explosives Market
10.1 Overview
10.2 Impact of COVID-19 Pandemic on Middle East & Africa and Asia Pacific Mining Explosives Market
10.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.4 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Product launch
11.1 Expansion
11.2 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 Al Fajar Al Alamia Co
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 Dyno Nobel Ltd
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 China Poly Group Corp Ltd
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 NOF Corp
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 Hanwha Corp
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 Sasol 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
12.8 Koryo Nobel Explosives Co Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Solar Industries India Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Omnia Holding Ltd
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. APAC and MEA Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Table 2. APAC and MEA Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 3. APAC and MEA Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 4. Asia Pacific Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 5. Asia Pacific Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 6. Australia Mining Explosives Market, by Type– Revenue and Forecast to 2030 (US$ Million)
Table 7. Australia Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 8. China Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 9. China Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 10. India Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 11. India Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 12. Indonesia Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 13. Indonesia Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 14. Vietnam Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 15. Vietnam Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 16. Rest of Asia Pacific Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 17. Rest of Asia Pacific Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 18. Middle East and Africa Mining Explosives Market, by Type– Revenue and Forecast to 2030 (US$ Million)
Table 19. Middle East and Africa Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 20. South Africa Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 21. South Africa Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 22. Zimbabwe Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 23. Zimbabwe Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 24. Nigeria Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 25. Nigeria Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 26. Saudi Arabia Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 27. Saudi Arabia Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 28. UAE Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 29. UAE Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 30. Rest of MEA Mining Explosives Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 31. Rest of MEA Mining Explosives Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 32. Glossary of Terms, APAC and MEA Mining Explosives Market
LIST OF FIGURES
Figure 1. Mining Explosives Market Segmentation
Figure 2. Mining Explosives Market Segmentation – By Geography
Figure 3. APAC and MEA Mining Explosives Market Overview
Figure 4. APAC and MEA Mining Explosives Market, By Application
Figure 5. APAC and MEA Mining Explosives Market, by Geography
Figure 6. APAC and MEA Mining Explosives Market, Key Market Players
Figure 7. Porter's Five Forces Analysis
Figure 8. Mining Explosives Market – Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. APAC and MEA Mining Explosives Market: Impact Analysis of Drivers and Restraints
Figure 11. Geographic Overview of Mining Explosives Market
Figure 12. APAC and MEA Mining Explosives Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Mining Explosives Market: Key Players
Figure 14. Mining Explosives Market Revenue Share, By Type (2022 and 2030)
Figure 15. Trinitrotoluene(TNT): Mining Explosives Market – Revenue and Forecast To 2030 (US$ Million)
Figure 16. ANFO: Mining Explosives Market – Revenue and Forecast To 2030 (US$ Million)
Figure 17. RDX: Mining Explosives Market – Revenue and Forecast To 2030 (US$ Million)
Figure 18. Pentaerythritol Tetranitrate (PETN): Mining Explosives Market – Revenue and Forecast To 2030 (US$ Million)
Figure 19. Others: Mining Explosives Market – Revenue and Forecast To 2030 (US$ Million)
Figure 20. Mining Explosives Market Revenue Share, By Application (2022 and 2030)
Figure 21. Quarrying and Non-Metal Mining: Mining Explosives Market – Revenue and Forecast To 2030 (US$ Million)
Figure 22. Metal Mining: Mining Explosives Market – Revenue and Forecast To 2030 (US$ Million)
Figure 23. Coal Mining: Mining Explosives Market – Revenue and Forecast To 2030 (US$ Million)
Figure 24. APAC and MEA Mining Explosives Market Revenue Share, by Region (2022 and 2030)
Figure 25. Asia Pacific: Mining Explosives Market – Revenue and Forecast to 2030 (US$ Million)
Figure 26. Asia Pacific: Mining Explosives Market Revenue Share, by Type (2022 and 2030)
Figure 27. Asia Pacific: Mining Explosives Market Revenue Share, by Application (2022 and 2030)
Figure 28. Asia Pacific: Mining Explosives Market Revenue Share, by Key Country (2022 and 2030)
Figure 29. Australia: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 30. China: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 31. India: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 32. Indonesia: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 33. Vietnam: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 34. Rest of Asia Pacific: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 35. Middle East and Africa: Mining Explosives Market – Revenue and Forecast to 2030 (US$ Million)
Figure 36. Middle East and Africa: Mining Explosives Market Revenue Share, by Type (2022 and 2030)
Figure 37. Middle East and Africa: Mining Explosives Market Revenue Share, by Application (2022 and 2030)
Figure 38. Middle East and Africa: Mining Explosives Market Revenue Share, by Key Country (2022 and 2030)
Figure 39. South Africa: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 40. Zimbabwe: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 41. Nigeria: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 42. Saudi Arabia: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 43. UAE: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 44. Rest of MEA: Mining Explosives Market –Revenue and Forecast to 2030 (US$ Million)
Figure 45. Impact of COVID-19 Pandemic on Mining Explosives Market in Asia Pacific
Figure 46. Impact of COVID-19 Pandemic on Mining Explosives Market in Middle East & Africa
The List of Companies - APAC and MEA Mining Explosives Market
- Orica Limited
- Al Fajar Al Alamia Co
- Dyno Nobel Ltd.
- China Poly Group Corp. Ltd.
- NOF Corp
- Hanwha Corp
- Sasol Ltd.
- Koryo Nobel Explosives Co. Ltd.
- Solar Industries India Ltd.
- Omnia Holding Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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