In a world driven by the incessant demand for rare earth metals – critical components across multiple industries such as electronics, renewable energy, medical equipment, and more – the need to delve deeper and tap into new rare earth metal deposits has never been more pronounced. The escalating global flurry of exploration activities and the burgeoning requirement for infrastructural development for mining sites can only be fulfilled with the increasing use of mining explosives. These explosives play an integral role in clearing lands, chiselling terrain, shaping access routes, and facilitating exploration of mineral-rich areas, thus endorsing an upward trajectory for the global mining explosives market.
This anticipated growth, a new report from Research and Markets entitled “Mining Explosives Market Forecast to 2030 – Global Analysis By Type an Application” reveals, at a compound annual growth rater (CAGR) of 4.2% from 2022 to 2030 according to, is attributed to the increasing demand for rare earth metals, which are vital components in various industries, including electronics, renewable energy, automotive, defence & aerospace, and medical equipment.
Rare earth metals, known for their unique properties, are experiencing growing demand across multiple sectors. To meet this demand, the exploration of new rare earth metal deposits has become essential. Notably, in April 2023, India’s National Geophysical Research Institute (NGRI) identified significant deposits of 15 rare earth elements (REE) in that country.
Successful exploration results and the identification of economically viable rare earth metal deposits are expected to lead to expanded mining operations. However, the preparation of mining sites, including land clearing, terrain levelling, access road construction, and infrastructure development, is necessary before mining operations can commence. Mining explosives play a pivotal role in these activities, aiding in land clearance, shaping the terrain, and building access routes.
Furthermore, the extraction of rare earth metals often involves breaking down hard rock formations, which requires extensive drilling and blasting. Mining explosives are essential for breaking rocks and facilitating access to mineral-rich areas. As exploration efforts transition to production, the demand for mining explosives is anticipated to increase, supporting larger-scale mining activities. Thus, the growing exploration activities for rare earth metals present lucrative opportunities for the global mining explosives market from 2022 to 2030.
The global mining explosives market is segmented by type into several categories, including trinitrotoluene (TNT), ammonium nitrate/fuel oil (ANFO), RDX, pentaerythritol tetranitrate (PETN), and others. ANFO held the largest share of the global mining explosives market in 2022. RDX is expected to be another attractive segment during the forecast period. RDX, a nitramine explosive compound, is highly versatile and can be used as a propellant, gunpowder, or high explosive, depending on the industry’s application. Its stability and explosive properties make it a valuable resource.
In 2022, the Asia Pacific region accounted for the largest revenue share of the global mining explosives market. North America is expected to become another prominent region in the near future. North America witnessed a 13.8% increase in mining production rates during the period of 2000-2020, accounting for 15.4% of global mineral production in 2020. The region’s expanding mineral exploration and production activities indicate a growing potential for the use of mining explosives in mining operations.
Key players operating in the global mining explosives market include Orica Limited, Al Fajar Al Alamia Co SAOG, Dyno Nobel, China Poly Group Corporation, NOF Corporation, Hanwha Group, Anhui Jiangnan Chemical Co Ltd, Koryo Nobel Explosives, Solar Group, and Omnia Group Company. These players are implementing various strategies, such as investments in research and development and the launch of innovative products, to maintain a competitive edge in the market. Their focus on high-quality and innovative product offerings demonstrates their commitment to meeting customer requirements.
The report identifies a growing demand for metals in manufacturing high-end products and the increasing application of ammonium nitrate fuel oil in the mining industry as major drivers of this growth, with the likely trend to increase the use of pentaerythritol tetranitrate (PETN). There are stringent government regulations around the management of explosives in most jurisdictions, however the growth in exploration and extraction of rare earth metals will be encouraged by governments in all parts of the world, the report says.