Latin America Study on Industrial Explosives Market, 2016 - 2022
Latin America Study on Industrial Explosives Market, 2016 - 2022 Persistence Market Research Latin America Market for Industrial Explosives is Estimated to be Valued at US$ 1,319.7 Mn by 2022: Persistence Market Research Persistence Market Research 1 Latin America Study on Industrial Explosives Market, 2016 - 2022 Persistence Market Research Released New Market Report According to a new market report published by Persistence Market Research “Latin America Market Study on Industrial Explosives: Metal Mining Sector to be the Largest Consumer during the Forecast Period 2016 - 2022”, the Latin America industrial explosives market is estimated to be valued at US$ 1,319.7 Mn by 2022. Industrial explosives are an important part of mining and mineral extraction operations around the world. Due to their high stability, industrial explosives are used in applications with higher torque by mining and tunnelling companies. Two types of industrial explosives, high explosives and blasting agents, are used in numerous applications across Latin America. Among countries in Latin America, the market in Chile is expected to account for 29.8% volume share of the overall Latin America industrial explosives market, followed by Peru and Brazil, by 2022. Due to increased mining activities in Brazil, the industrial explosives market in the country is projected to expand at a higher than average CAGR of 8.6% between 2016 and 2022 in terms of revenue. The market in Columbia, which is anticipated to account for 16.5% revenue share of the overall Latin America market by 2022 end, is expected to be driven by the rise of the mining sector in the country. The industrial explosives market in Argentina is estimated to witness an average increase in revenue due to lower GDP growth in the country. Request Sample Report: http://www.persistencemarketresearch.com/samples/9893 The high explosives market in Latin America is expected to expand at a lower than average CAGR of 4.5% in terms of volume between 2016 and 2022 when compared to blasting agents, which is expected to expand at a CAGR of 5.6% during the same period. Application of blasting agents is expected to be the highest in Chile due to their cost effectiveness as well as increasing demand for high stability in the transportation of explosives. Use of blasting agents in Brazil is expected to witness the highest growth of 6.8%, in terms of value, during the forecast period. Persistence Market Research 2 Latin America Study on Industrial Explosives Market, 2016 - 2022 View Detail Report With TOC: http://www.persistencemarketresearch.com/marketresearch/latin-america-industrial-explosives-market.asp By end use, mining segment is expected to expand at a higher than average CAGR as compared to other end-use segments such as construction and others, both in terms of value and volume. The increase in GDP output is one of the major factors driving the market. The industrial explosives market in Brazil, with the exponential increase in GDP, is expected to witness high revenue growth during the forecast period. Meanwhile, the market in developed economies is expected to decline in the near future due to lower GDP growth, thereby implying lower consumption compared to other economies. By Product Type: High Explosives Blasting Agents By End-use Industry Mining Metal Mining Non-Metal Mining Quarrying Construction Others By Country Chile Peru Brazil Mexico Persistence Market Research 3 Latin America Study on Industrial Explosives Market, 2016 - 2022 Columbia Argentina Rest of Latin America For more Info: http://www.persistencemarketresearch.com/contact-us.asp Market History: Industrial explosives are used in activities such as mining, construction, and quarrying. They can blast larger amount of land than other mechanical drills deployed for the same task. Industrial explosives, for example, ANFO, is formed by mixing 96% ammonium nitrate with 6% fuel oil (used in their initiation) to achieve certain properties in the end product. Industrial explosives market is indirectly related to the GDP of various countries of Latin America due to their widespread application in mining, earthmoving and construction activities. Due to a surge in the manufacturing of explosives in Chile and Peru, the industrial explosives market in the region is estimated to expand at a CAGR of 7.6% over 2016–2022 in terms of revenue. With an anticipated increase in manufacturing in Chile in the coming years, demand for industrial explosives in the country is expected to increase between 2016 and 2022. Some major factors driving the Latin America industrial explosives market are increasing mining activities, construction of tunnels and roads, and initiatives by governments in the region to tap rich mineral resources underground. Persistence Market Research, in its report titled, “Industrial explosives Market: Latin America Industry Analysis and Forecast, 2016-2022”, has categorized the industrial explosives market into key segments based on product type, end-use industry, and countries. On the basis of product type segment, the Latin America industrial explosives market is divided into two segments: high explosives and blasting agents. On the basis of end-use industry, the Latin America industrial explosives market is divided into mining, construction, and others. Mining segment further consists of three sub-segments: metal mining, non-metal mining, and quarrying. Finally, on the basis of countries, the Latin America industrial explosives market is segmented into Brazil, Chile, Peru, Colombia, Argentina, Mexico, and rest of Latin America. Persistence Market Research 4 Latin America Study on Industrial Explosives Market, 2016 - 2022 The industrial explosives market in Brazil is expected to expand at a CAGR of 6.6% in terms of volume during the forecast period. The country is expected to account for a volume share of around 15.7% of the Latin America industrial explosives market by the end of 2022. In terms of value, Chile is expected to account for a major value share of the Latin America industrial explosives market during the forecast period. By product type, blasting agents segment in the Latin America industrial explosives market is slated to expand at the fastest CAGR during the forecast period in terms of volume. The growth of this segment is primarily driven by the increase in run time, high stability, and ease of transportation. In terms of market value, high explosives segment is expected to expand at a CAGR of 6.6% during the forecast period. About Us: Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. 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