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Report Overview
The global explosives market attained a volume of 17.44 MMT in 2025. The industry is expected to grow at a CAGR of 5.20% during the forecast period of 2026-2035. By 2035, the market is expected to reach 28.95 MMT.
The global explosives market is experiencing strong growth with the growing mining and construction industries. Increased demand for coal, metals, and key minerals like lithium and cobalt, which are crucial for electronics and renewable energy, has fueled the demand for effective and safe blasting solutions. For instance, Omnia Holdings reported a surge in its explosives business due to rising exploration budgets for green and battery minerals. Mining operations in nations such as China, Australia, and India are especially driving demand for bulk explosives. Besides, development of infrastructure projects in the emerging economies is fueling the market further, as explosives are essential for tunneling, road construction, and quarrying activities. The preference for more cost- and high-performance explosives like emulsion and ANFO-based types further favors explosives market growth.
In addition, the defence industry is helping the market grow as a result of the increase in geopolitical tensions and military modernization initiatives. Nations like the United States, China, and India are boosting their defense spending, which is translating into higher procurement of explosives for use in weapons production. Russia is constructing a major new explosives facility at the Biysk Oleum Plant in Siberia, aiming to produce up to 6,000 metric tons of high explosives annually, such as RDX or HMX. This development is part of Moscow's strategy to bolster its firepower amid the prolonged war in Ukraine.
Innovations in technology, including the use of electronic detonators and automated blast measurement systems, are optimizing operations to become more efficient and safer, favouring the explosives market. In April 2025, BAE Systems unveiled new explosives and propellants for defense applications, featuring advanced formulations that reduce reliance on traditional materials and enhance sustainability. These are designed for munitions with improved durability and lower environmental impact. With tighter environmental regulations, manufacturers are also spending on cleaner formulations, which shows that they are moving toward sustainability without compromising on explosive performance.
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
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The global upsurge in coal, metal, and rare earths mining is greatly enhancing the explosives industry. Blasting remains vital for effective extraction, especially in mineral-resource rich areas, which is driving sustained demand for industrial as well as bulk explosives for mining operations.
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The adoption of advanced explosives, such as emulsions and electronic detonators, is rising due to improved safety, precision, and lower environmental footprint. These technologies help reduce accidental detonations and enable enhanced blast control, promoting efficiency in construction, quarrying, and mining operations across the globe, thereby increasing the growth of the explosives market.
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Global defense spending reached USD 2.1 trillion in 2021, echoing an ongoing uptrend. States are updating arsenals, scaling up purchases of explosives for use as ammunition or for tactical applications. This demand, which remains high in North America and especially in Asia, is a driving factor for the defense explosives industry.
Competitive Landscape
Leading explosives market players are investing in innovations that provide safety, efficiency, and environmental sustainability. They are spending money on intelligent blasting technologies, such as electronic detonators and real-time monitoring systems, to make blasts more precise and environmentally friendly. They are also designing environment-friendly explosives with lower emissions and biodegradable materials to ensure compliance with stringent environmental laws and to ensure sustainable practices in mining, construction, and defence industries.
Key players in the global explosives market are also actively investing in advanced technologies to enhance safety, precision, and environmental compliance. The adoption of electronic detonators and AI-powered blasting systems is becoming more prevalent, aiming to optimize blast outcomes and reduce environmental impact. These innovations are particularly significant in mining operations, where precision and safety are paramount.
Enaex S.A.
Enaex S.A., founded in 1920 and based in Chile, is engaged in the supply of high-performance explosives for mining. Enaex supplies various explosives, such as bulk emulsions, ANFO, and detonators. Enaex also deals with the creation of environmentally friendly explosives for sustainable mining.
Yara International ASA
Established in 1905 in Norway, Yara International ASA is a global industry leader in the supply of industrial explosives and fertilizers. Among its explosives products is ammonium nitrate-based products that find applications in quarrying, construction, and mining. Yara focuses on providing solutions for enhanced safety and efficiency in explosive operations.
Orica Limited
Orica, founded in 1874 and with headquarters in Australia, is a global leader in commercial explosives supply. Its products are electronic detonators, blasting systems, and bulk explosives, catering to industries such as mining, construction, and quarrying. Orica is committed to innovation to drive productivity and environmental performance in blasting activities.
MaxamCorp. Holding, S.L.
MaxamCorp. Holding, with headquarters in Spain and established in 1872, is a global leader in the production of explosives. Maxam offers a vast portfolio of products such as bulk explosives, detonators, and specialized solutions for construction and mining. Maxam operates with the aim of enhancing safety and sustainability in explosive technologies.
Other key players profiled in the explosives market include Austin Powder Company, Sasol Limited, and Dyno Nobel Inc, among others.
Explosives Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2025, the market reached an approximate volume of 17.44 MMT.
The market is projected to grow at a CAGR of 5.20% between 2026 and 2035.
The market is estimated to witness healthy growth in the forecast period of 2026-2035 to reach a volume of around 28.95 MMT by 2035.
Key strategies driving the market include developing eco-friendly and smart explosives, expanding production capacity to meet mining and defence demand, strengthening supply chain resilience through partnerships, and enhancing customer engagement with tailored solutions. Innovation and regional expansion remain critical to addressing safety, regulatory, and market growth challenges globally.
The key trends guiding the growth of the explosives market include the growth opportunities of battery materials, like lithium and cobalt, and increasing demand from the construction industry.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major end uses of explosives in the market are coal mining, metal mining, quarrying and non-metal, and construction, among others.
The key players in the market report include Enaex S.A., Yara International ASA, Orica Limited, MaxamCorp. Holding, S.L., Austin Powder Company, Sasol Limited, and Dyno Nobel Inc, among others.
Asia Pacific dominates the market led by high-volume mining activities in China, Australia, and India, which use bulk explosives extensively in coal and metal extraction.
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