The global detonator market is expected to expand at a CAGR of 1.98% over the evaluation period of 2018-2025, reveals Market Research Future (MRFR). The need for residential space is surging as the world population base is expanding. In addition, the growing demand for minerals such as aluminum and others is also noted. This is favoring extensive mining activities. These factors are likely to boost the sales of detonators, which is expected to benefit the market growth. Advancements in technology are empowering detonator manufacturers with better machinery and equipment for the production of explosives. This can fuel the growth of the global market of detonator. However, the detonator market can experience a slow down due to stringent government regulation.
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Hanwha Corporation, a South Korea based company that deals in explosives, launched electronic detonator that enables larger-scale blasting, and features higher accuracy and improved safety.
Dyno Nobel, a multinational manufacturer of explosives, launched its addition to EZshot®, the company’s electronic initiation portfolio.
The global detonator market study has been segmented based on application and type.
Based on the type, the global detonator market has been segmented electronic, non-electric, and electric. The non-electric segment is expected to gain momentum across the review period owing to their benefits. Precise timing and reduction in vibrations and sensitivity are merits that are expected to drive the segment growth.
Based on the application, the global detonator market has been segmented into metal mines, coal mines, non-metal mines, and others. Surge in demand for coal requires extensive mining activities. Hence, the coal mines segment is expected to register a robust growth.
Detailed Regional Outlook
Regionally, the detonator market has been studied across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
In 2018, the Asia Pacific detonator market was values at USD 288.10 million. MRFR states that the regional market is poised to attain a valuation of USD 334.5 million by 2025 and expand at 2.25% CAGR over the assessment period. High consumption of metal, minerals, and coal is observed in the region, which can surge the market. In addition, rise in need for power generation due to rapid industrialization and increase in urban population can also bolster the APAC market expansion.
High demand for different metal in North America, for both domestic and commercial purpose, is Iikely to boost the detonator market in the region. After the Asia Pacific, North America is expected to hold a major share of the market.
The detonator market in Europe is anticipated to exhibit a CAGR of 1.03% over the review period. The regional market is likely to reach a valuation of USD 58.31 million by 2025. The market in the region is likely to grow as high number of explosion activities are noted for exploration.
Dyno Nobel (US), Orica Limited (Australia), MAXAM (Australia), AEL Intelligent Blasting (South Africa), Sichuan Yahua Industrial Group CO., LTD (China), Poly Permanente Union Holding Group Limited (China), BME South Africa (South Africa), Enaex (Chile), Austin Detonator (Czech Republic), and Sasol (South Africa).
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