Published on : Jun 17, 2020
Industrial explosives refers to high hazard blasting explosives that are primarily utilized in the construction, quarrying, and mining industry. They are available in many different forms that includes both low explosives and high explosives. High explosives are further split into tertiary, secondary, and primary explosives. Tertiary explosives comprise blasting agents.
High explosives comprise pentaerythritol tetranitrate (PETN), picric acid, trinitrotoluene (TNT), nitroglycerin, ammonium nitrate-fuel oil mixture (ANFO), and dynamite. Low explosives comprise fireworks and propellants. The Latin America industrial explosives market is likely to be driven by augmented mining activities in the region.
Some of the important market vendors that have been profiled in the Latin America industrial explosives market comprise names like Enaex Explosive Company, Exsa S.A., Famesa Explosivos S.A.C, and Austin Powder Argentina S.A.
Driven by Increased Use of Blasting Agents to Propel Market in Chile
The Latin America industrial explosives market has been divided into Brazil, Chile, Peru, Argentina, and others. Region-based segmentations offer an elaborate understanding of the market in various parts of the world.
Of these countries of Latin America, the industrial explosives market in Chile is likely to account for a major chunk of the market. Chile is likely to be followed by Brazil and Peru. With the expansion of mining activities in Brazil, the industrial explosives market in the country is likely to expand significantly over the tenure of projection. Expansion of the mining activities in Latin America is expected to boost the market in Columbia, Argentina and other nations of Latin America.
In Chile, use of blasting agents is likely to be extremely high, thanks to their cost effectiveness. Furthermore, augmented demand for high stability in the transportation of explosives is likely to emerge as another growth factor for the industrial explosives market in Chile. In addition, use of blasting agents in Brazil is likely to experience very high growth, in terms of value, over the tenure of assessment.
Increased Demand for Hydroelectricity to Open up Avenues of Growth for the Market
Latin America industrial explosives market is primarily driven by the increased utilization of these explosives in civil and military applications. Expansion of mineral extraction activities in the countries of Latin America is likely to create enormous scope for the Latin America industrial explosives market in the years to come.
In addition, rapid urbanization together with population expansion in Mexico are expected to play an important role in the growth of the Latin America industrial explosives market. Explosives find extensive use on the mining of various minerals like nickel, titanium, bauxite, gold, iron ore, zinc, tin, and copper.
Liberalization of mineral policies implemented by governments of Peru, Chile, and other countries of Latin America in the early 80s, 90s and 2000s, respectively have garnered substantial interest of the foreign players. This has helped in the production and extraction of minerals in the last few years. Furthermore, augmented technological expenditure that is meant for effective exploration is further likely to propel the growth of the Latin America industrial explosives market in the years to come.
Open-pit mining and underground mining are two of the leading factors that are driving Latin America industrial explosives market. Bolivia, Brazil, Peru, and Chile are rich in metallic minerals and hence metal mining is likely to be an important sub-segment of the mining operations in Latin America.
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In Latin America, there has been an augmented demand for renewable sources of electricity, such as hydroelectricity, and this is likely to drive Latin America industrial explosives market. Availability of plentiful of water resources in the countries with long coastal lines such as Columbia, Peru, Chile, and Brazil are likely to focus more on the production of hydroelectricity. Several hydroelectricity generation projects need blasting of rocks in and around the area of hydroelectricity generation projects, which is likely to boost the Latin America industrial explosives market in the years to come.