Key stakeholders in the emulsion explosive market must opt for long-term and fully-integrated contracts with major suppliers to solidify their place in the global market
DUBAI / ACCESSWIRE / April 14, 2020 / Escalating large-scale surface mining activities and mineral extraction are propelling the growth of emulsion explosive market. Further, growing safety concerns of underground mining workers is fuelling the demand for emulsion explosives. FMI evaluated the global emulsion explosive market at approximately US$ 2.4 Bn in 2020.
“Improved safety and higher performance are amongst many attributes driving the consumption of emulsion explosives in the mining industry. Moreover, lower colloid viscosity gradient coefficient, higher bump resistance, and large power offered by emulsion explosives are highly favored by consumers worldwide,” states FMI analyst.
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Key Takeaways of Emulsion Explosive Market Study
- Bulk emission explosives continue to be preferred by consumers across the globe.
- Cartridge emission explosives will witness prolific demand over the projection period.
- North America will lead the emulsion explosive market through the forecast period.
- Latin America will present lucrative opportunities for manufacturers in emulsion explosive market.
Emulsion Explosive Market – Key Growth Factors
- Variegated uses of emulsion explosives such as old infrastructure demolition and tunneling purposes in construction industry are significant growth contributors.
- Profuse demand for emulsion explosives in mining continues to bolster the market growth.
- Relatively low price point, facile transportation, and large coverage area are fuelling the demand for emulsion explosives as ideal substitutes for mechanical drills.
- Rising construction undertakings in developing countries is supporting the growth of emulsion explosive market in this segment.
Emulsion Explosive Market – Key Restraints
- Strict regulatory framework on buffer stocks limits the amount of sufficient stock that can be maintained by manufacturers.
- Higher bargaining power of consumers is a downside for manufacturers in the emulsion explosive market.
Explore the full emulsion explosive market report with 134 illustrative figures, 41 data tables and table of contents. Request ToC of the study at https://www.futuremarketinsights.com/askus/rep-gb-10876
Impact of COVID-19 on Emulsion Explosive Market
The primary application of emulsion explosives remains mining. COVID-19 outbreak has affected the mining business which in turn has lowered the demand for emulsion explosives. Social distancing measures and other global restrictions imposed by the pandemic have put the production on hold. As the virus sweeps the globe, the players in emulsion explosive market are feeling nervous about the future. As mining companies are witnessing downward spiral in their share prices, the growth of emulsion explosive is going to decline for the first half of 2020. Players are expected to take cost-cutting initiatives in view of surging commodity prices.
The global emulsion explosive market is moderately fragmented in nature. Some of the key stakeholders profiled in this FMI study include, but are not limited to, Orica Limited, Croda International Plc, Incitec Pivot Limited, Sasol Ltd., African Explosives Limited, MAXAM, Keltech Energies Ltd., Yara International, Austin Powder Manufacturing, BME Mining, Enaex, Hanwha Corporation, Titanobel, Solar Group, and Nelson Brothers. Top players continue to adopt underground mining which accounts for majority share in the emulsion explosive market. Certain manufacturers are leveraging different application areas such as air blasting, hard rock, and general blasting as well.
More about the Report
This Future Market Insights study of 247 pages provides all-inclusive insights on the global emulsion explosive market. The market analysis is based on product (bulk emulsion, cartridge emulsion, and recycled oil emulsion), application (mining, hard rock, general blasting, tunneling, colliery, air blasting, hard rock, and maritime blasting/seismic) across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
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