Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Explosives Market Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the chemicals industry. This report breaks down the data and analysis behind the procurement of explosives and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Explosives Procurement Market Intelligence Report (Graphic: Business Wire)
"Mining is the largest end-use segment of the global explosives market since explosives are used widely in blasting, tunneling, and fragmentation of rocks," says SpendEdge procurement analyst Anil Seth. "Suppliers are also focusing on manufacturing tailored explosives that can cater to specific requirements of buyers while delivering the desired outcome with minimal risk of failure," added Anil.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Explosives Market:
- Increasing adoption of mobile manufacturing units.
- Rise in the use of industrial explosives.
- The growth of explosives market in APAC.
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Increasing adoption of mobile manufacturing units:
Mobile manufacturing units enable on-site mixing of ingredients to manufacture explosives. Such manufacturing units can be set up at the sites of buyers and are increasingly being used by both buyers and suppliers to ensure immediate fulfillment of the sudden or unforeseen requirement. It also helps to ensure quick turnaround time for the delivery of explosives at buyers' site. Moreover, the manufacturing of explosives in mobile manufacturing units requires licenses.
The rise in the use of industrial explosives:
There is a high demand for industrial explosives from the construction, mining and quarrying industries. This is mainly because these sectors rely on such explosives for functionalities that require blasting, such as demolitions. The construction sector also depends on the use of industrial explosives for various applications, such as tunneling, as these explosives are cost-effective compared with other explosives. Moreover, they provide cost-saving opportunities for buyers leading to their increased demand.
The growth of explosives market in APAC:
The growth of the mining and construction industries in APAC have led to the high demand for explosives. Also, the rise in investments in these sectors by governments has led to their growth in the region. The Indian government offers a wide range of concessions to foreign investors that invest in the mining industry, including low customs duties on capital equipment used for mining of minerals. Moreover, the easy availability of explosives within the region has reduced the complexity of procurement for regional buyers.
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