Examining the COVID-19 Impact On Detonator Market Sales Record a Major Upturn amid COVID-19 Pandemic .
Detonator Market Synopsis:
The data analysts at Market
Research Future Reports (MRFR) have revealed that the detonator market is
expected to rise at a CAGR of 1.90%, with a value of USD 1450.3 million over
the estimated 2022-2030. The increasing demand for residential space is one of
the most substantial factors driving the global detonator market growth 2022. Besides, mining
activities also play an important role in expanding the market. In addition,
the development in technology is enabling the manufacturers with efficient
equipment for the manufacturing of explosives. Combining these factors
enlarging the market.
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Detonators play a crucial role in
the chemicals industry, serving construction industry sectors, oil and gas, and
mining. The demand for detonator market trends is directly dependent on the
end-use industries. The construction industry has been affected considerably
due to the delay caused owing to the outbreak of COVID-19. In addition, the
demand for coal has also seen a decline due to COVID-19. There was a downfall
of 8% in the first quarter of the year 2020 as compared to the first quarter of
2019. In addition, the stringent rules implemented by the government of several
nations is estimated to hinder the market further.
Regional Analysis
The global detonator market can be segmented based
on application, type, and region.
Based on application, the global
detonator market can be segmented into metal mines, coal mines, non-metal
mines, and others. The coal mines are likely to record robust growth during the
forecast period.
On the basis of type, the global
detonator market can be segmented into electronic, non-electric, and electric.
The non-electric segment is estimated to dominate the segment due to its
benefits.
On the basis of region, the
global detonator market can be segmented into Europe, North America,
Asia-Pacific (APAC), and the Rest of the World (RoW).
Regional Analysis
Exhaustive analysis of Europe,
North America, Asia-Pacific (APAC), and the Rest of the World (RoW) has been
performed. The research states that the global detonator market growth is
likely to expand significantly during the forecast period. As per the study by
MRFR, the global detonator market is estimated to be dominated by the
Asia-Pacific. The region consists of the established players such as Poly
Permanente Union Holding Group Limited, Orica Limited, Sichuan Yahua Industrial
Group CO., LTD, and MAXAM. These players provide advanced and cheaper
detonators in the region. Besides, the region has been witnessing high demand
coal, metals, and minerals owing to the rapid urbanization
On the other hand, North America
is estimated to be the second-largest market share. The continuous development
in infrastructure and the rising mining activities is likely to provide the
scope of expansion to the region. In addition, the manufacturers are expanding
in the North American region due to the presence of major markets for expanding
mining, construction, and blasting activities in this region. These regions are
estimated to enhance the demand for detonators in the region.
However, market dynamics are
likely to change significantly during the review period. The daily operations
have been halted due to the outbreak. Several regions have been affected
substantially due to the spread of COVID-19. We will provide the aftermath
COVID-19 report on the impact analysis of the market.
Key Players
The established market
competitors of the global detonator market are Dyno Nobel (US), Orica Limited
(Australia), AEL Intelligent Blasting (South Africa), and MAXAM (Australia),
Sichuan Yahua Industrial Group CO., LTD (China), Poly Permanente Union Holding
Group Limited (China), Enaex (Chile), Sasol (South Africa), BME South Africa
(South Africa), and Austin Detonator (Czech Republic).
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