Rising number of projects for infrastructure development in Asia Pacific is expected to drive the demand for “Explosives“ as a blasting agent. Increasing government spending for infrastructure development in Asia Pacific and the Middle East on account of increasing domestic output is expected to play a significant role in amplifying construction activities in these regions.
In 2013, Asia Pacific contributed to approximately 44% of the total global construction spending, an increase of 4% from the previous year. Also, the development of new construction and building projects in Asia is likely to boost market growth. The demand for explosives in the region is expected to be 14.93 million tons by 2024.
Further key findings from the report suggest:
Positive outlook towards the mining sector in Chile, and Peru, and owing to government policies to open opportunities for investments by foreign players, to improve the economic conditions, is expected to drive the demand for explosives subsequently. The segment is projected to witness volume growth at a CAGR of 4.9% over the forecast period.
Browse Detail Report With TOC @ http://www.hexareports.com/report/explosives-market/details
Coal mining was the largest application within the mining sector accounting for 49.8% of the volume in 2015. However, the outlook towards coal is likely to be bleak over the forecast period on account of increasing shifting trends of consumers towards alternative sources of energy including natural gas and renewable energy. However, metal mining is expected to witness tremendous growth on account of rising demand for metals including rare earth elements.
Consumer pyrotechnics accounted for 36.2% of the global volume in 2015 and is expected to grow on account of increasing demand for recreational fireworks, model rocket motors, and powder-actuated nail guns.
Request A Sample copy of This Report @ http://www.hexareports.com/sample/181838
Key market players include Orica Mining Services, ENAEX, Maxam Corp., Sasol Limited, Austin Powder Company, AEL Mining Services, Chemring Group, Incitec Pivot, AECI Group, Pyro Company Fireworks, ePC Group, Alliant Techsystems, Titanobel SAS, Hanwha Corp., Solar Industries India, and LSB Industries.
Companies are focusing on product innovation to cater to the growing demand for safe & effective explosives. For instance, in September 2016, Orica launched a new product, Vistis Bulk System, catering to the growing consumer demand in Australia.
Browse More Equipment Related Market Research Reports:
• Global Industrial Fasteners Market 2016-2020 – http://www.hexareports.com/report/global-industrial-fasteners-market-2016-2020/details
• Global BTS Antenna Industry 2016 Market Research Report – http://www.hexareports.com/report/global-bts-antenna-industry-2016/details
Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe.We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Felton Office Plaza,
6265 Highway 9,
Felton, California, 95018,
Email Us: firstname.lastname@example.org
Our Website: http://www.hexareports.com
Company Name: Hexa Reports
Contact Person: Ryan Shaw
Address:Felton Office Plaza, 6265 Highway 9
Country: United States