Detonator Industry 2021: COVID-19 Impact Leading Players, Current Trends, Market Challenges, Growth Drivers and Business Opportunities
Market Overview
The Global Detonator Market is
expected to be valued at USD 564.97 Million by 2025, with a CAGR
of 1.98% during the forecast period (2019–2025).
The report covers segmentations and
drivers for a better glimpse of the market in the coming years. A detonator is
a device used to trigger an explosive instrument. The detonator is also called
an initiation system and can be initiated by chemical, mechanical, and
electronic systems. Detonator consist of small explosives, with low ignition
temperatures, which provide the activation energy to start the detonation in
the main charge. There are three types of detonators namely electric,
non-electric, and electronic.
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Segmental Analysis
The global detonator market is
segmented based on type, and application.
On the basis of type, the non-electric
detonator segment is expected to dominate the market. Non-electric detonator
systems have been used in the explosive industry for many years through cap and
fuse methods. Fully non-electric detonator initiation systems were introduced
to offer all the advantages proposed by electric detonators, along with the
added safety benefits of radio frequency energy, insensitivity to electricity,
and electromagnetic radiation. Moreover, these non-electric detonators can
provide several delays during the blasting operations owing to their ease in
designing larger initiation sequences, which ultimately results in improved
operational flexibility. Thus, it is expected to increase the demand for
non-electric detonator in detonator market during the forecast period.
On the basis of application, the coal
mines segment is expected to dominate the market. The increasing mining sector
in countries, such as India and China, are expected to offer promising growth
opportunities for the coal mines segment during the forecast period.
Regional Analysis
Geographic analysis of the global
detonator market spans across North America, Europe, Asia Pacific (APAC), and
rest of the world.
In 2018,
Asia-Pacific was the leading market with a market value of USD 288.10
million. The regional market value is expected to reach USD
334.5 million by 2025 with an impressive 2.25% CAGR during
the forecast period.
The region has emerged as one of the
highest consumers of metals, coal, and minerals due to the rapid urbanization
and infrastructure development, demand for efficient power generation, and
growth in manufacturing, food processing, and chemical industries. Thus, the
demand for various metals and coal is increasing all over the region, which is
expected to drive the demand for detonators that are used for extracting metals
and coal through the forecast period.
In 2018,
North America held the second largest market share in the detonator
market. The growth of detonator market in North America
is estimated to witness a tremendous pace, owing to the growing construction,
mining, and blasting activities in this region. The high demand for precious
and base metals and the increasing exploration activities are expected to drive
the growth of the mining industry in North America, and, consequently,
increased the demand for detonators in the region. According to the WEO,
Special Report: Offshore Energy Outlook 2017, in 2016, in North America, the
total investments in the mining industry accounted for approximately USD 112
billion. In 2018, the regional market was valued at USD 120.57
million, which is expected to reach USD 133.48 million by 2025
with a 1.56% CAGR during the forecast period.
Europe is the fastest growing region in
the global detonator market. The stringent government rules and regulations are
the main factors for the growth of the detonator market in the region. Under
the directive 2014/28/EU, the European Union (EU) made available explosives for
civil use, which is expected to enhance the demand for detonators for
residential and commercial applications. The regional detonator market is
expected to be valued at USD 58.31 million by 2025 at a CAGR
of 1.03% during the forecast period.
The study was conducted using an
objective combination of primary and secondary information including inputs
from key participants in the industry. The report contains a comprehensive
market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Competitive Analysis
Some of the prominent players in the
global detonator market are Sichuan Yahua Industrial Group CO., LTD
(China), Enaex (Chile), BME South Africa (South Africa), Sasol (South Africa),
Austin Detonator (Czech Republic), Orica Limited (Australia), Dyno Nobel (US),
AEL Intelligent Blasting (South Africa), and MAXAM (Australia), and Poly
Permanente Union Holding Group Limited (China)
Orica Limited strategizes to improve
its management structure to increase its global presence. It focuses on brand
advertisements and expanding its diversified product business. The company
plans to increase its investments in research and development to cater to the
growing industrialization activities, across the globe. Additionally, it also
focuses on regular developments by introducing products and expanding its
global footprint through strategic mergers and acquisitions to enhance its
position in the global market.
Dyno Nobel focuses on factors such as
product and service quality, scope of products and services, and response time
to cater to the specific requirements of its clients. It concentrates on
product development as a strategy to enhance its product portfolio to cater to
a wider range of applications. The company has been working on improving its
production process, optimizing its distributor network, and investing in
research and development to improve its flexibility, integrity, and product
quality and achieve customer satisfaction.
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