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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Latin America Explosives Market Size
The Latin America explosives market attained a volume of approximately 1.48 million tonnes in 2023. The market is further projected to grow at a CAGR of 5.2% in the forecast period of 2024-2032, reaching a volume of around 2.34 million tonnes by 2032.
Key Trends in the Market
Explosives are reactive substances with a substantial amount of potential energy that are capable of producing a explosion, accompanied with bursts of energy, sound, pressure, heat, or light. To trigger the explosion, some form of initiation or detonation is required which starts the production of rapidly expanding gas in the explosive. Depending upon the components used and the form of explosion, the resultant energy can be used in a targeted manner.
- Increasing investments by countries in Latin America towards infrastructural development such as dams, tunnels, bridges, roads, and buildings, are generating a growing demand for explosives. Different types of explosives, depending upon the present rock formations and environment, can be used for clearing space for construction, providing smooth foundations for stronger constructions.
- A key trend contributing to the Latin America explosives market growth is the growing focus towards safe use of explosives and adhering to environmental regulations. Various countries in Latin America are implementing regulations on the usage of explosives so as to improve safety, reduce environmental degradation, and encourage environmentally friendly explosives.
- To support the growing demand for explosives in Latin America various market players are setting up local manufacturing plants in the region to improve supply chains and logistics. Mergers and acquisitions between global players and local companies are also aiding in the Latin America explosives market development in the forecast period.
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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United States (Head Office)
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124