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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Latin America Explosives Market Share by End Use
The abundance of natural mining resources across various countries in Latin America and the surging demand for minerals such as iron ore, copper, and gold, are increasing the Latin America explosives market demand for mining applications. Countries such as Brazil, Peru, Mexico and Chile have vast operations for mining, including for silver, gold, and copper, among other minerals. Explosives and pyrotechnics are used to break larger rock formations to enable excavation and ore extraction, due to which mining is a key end use of explosives in the region. Rising investments in mining and improvements in infrastructure are likely to further support the expansion of the mining sector in Latin America and heighten the demand for explosives.
Market Share by Country
Brazil accounts for a sizable Latin America explosives market share, supported by the growing mining sector in the country and increasing construction projects for residential and commercial purposes. In Brazil, there are extensive reserves available of minerals such as iron ore, gold, and bauxite, leading to an enhanced demand for explosives. Mining operations in the country include both open-pit as well as underground mining operations which require significant volumes of explosives for mineral extraction, rock blasting, and quarrying. Meanwhile, the construction sector in Brazil utilises explosives for controlled demolition, tunnelling, underground construction, foundation preparation, earthmoving and land levelling, thereby augmenting the explosives market demand in Brazil.
Latin America Explosives Market Report Snapshots
Latin America Explosives Market Size
Latin America Explosives Market Share
Latin America Explosives Market Analysis
Latin America Explosives Companies
*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 2023, the market reached an approximate volume of 1.48 million tonnes.
The market is expected to grow at a CAGR of 5.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a volume of around 2.34 million tonnes by 2032.
The major drivers of the market include increasing demand for mining, expansion of the construction sector, and availability of a wide range of explosives.
The key Latin America explosives market trends include rising focus on safety and regulations by governments in the region regarding usage of explosives, advancements of militaries of various countries, and development of new technologies for explosives.
The various countries in the explosives market in Latin America are Brazil, Argentina, Mexico, Chile, and Colombia, among others.
The leading types of explosives in the market include ANFO (Ammonium Nitrate Fuel Oil), RDX (Research Department Explosive), TNT (Trinitrotoluene), PETN (Pentaerythritol Tetranitrate), HMX (High Melting Explosive), and dynamite, among others.
The major players in the market, according to the report, are AEL Mining Services Ltd., Sasol Limited, BME - Bulk Mining Explosives, ENAEX S.A., Yara International ASA, Orica Limited, Chemring Group PLC, Austin Powder, Incitec Pivot Ltd., and MAXAMCORP HOLDING, SL, among others.
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