Stemming plug is a cone shaped device constructed of high impact polystyrene, high density polyethylene among others. Stemming is one of the foremost effective parameters of open pit blasting. Stemming plugs are the new technological development, to increase the efficiency of blasting without changing the feature of explosives. They are used in the stemming zone of the blast hole to increase the containment of the explosive gasses. This yields an increase in explosive energy transmitted to rock mass, resulting in better fragmentation.
The mining industry is the primarily end user of blasting stemming plugs since it helps in limiting the total mining cost by reduction in energy requirement and production gains. The mining industry is expected to dominate the market over the forecast period, as the growing demand for metallic and nonmetallic materials. The rapid urbanization in emerging economies play a vital role in increasing the demand for construction and quarrying materials.
The mining sector in Asia Pacific, Latin America and Middle East and Africa (MEA) region holds abundant opportunities to expand in these untapped areas. For instance, countries such as Egypt, Mauritania, Iran, KSA, and Afghanistan in MEA region are greatly unexplored and exploration of world class deposits is possible. The blasting stemming plugs market in these regions is expected to cater to high growth over the forecast period although North America and Europe constitute higher market share. The mining companies are strategically expanding the market share in existing market of North America & Asia Pacific whereas exploring the new markets Latin America and MEA region to focus on long term growth opportunities.
In the explosives and blasting agents industry, consumers are interested in innovative products with better efficacy. Innovative and new formulation with greater efficacy is helping the manufacturers to gain customer loyalty. For instance, TIME Limited (short for Temiskaming Industrial Mining Equipment Limited) an Europe based company offered blasting plugs in a range of sizes to accommodate drill holes of ½” to 18”. They will not freeze and are light and can be reused. They will not be damaged or moved when run over by heavy machinery.
The report titled “Global Blasting Stemming Plugs Market - Growth, Future Prospects, and Competitive Analysis, 2017 – 2025” offers strategic insights into the global blasting stemming plugs market along with the market size and estimates for the duration 2015 to 2025. The said research study covers in-depth analysis of multiple market segments based on end use and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2016 & 2025. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.
In order to help the strategic decision makers, the report also includes profiles of the leading blasting stemming plugs manufacturers, along with their, product portfolio and key developments. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global blasting stemming plugs market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above mentioned factors.
In 2016, mining segment accounted for more than half of the market and projected to maintain their dominance over the forecast period of 2017 to 2025. Coal mining is the largest consuming sector for blasting plugs. The rapid growth in demand for coal from the energy and steel sectors is the major factor driving the market growth. Metal mining is the second largest end use of blasting plugs, the global market for metal mining is gaining momentum with rise in consumption of metals from various end use industries such as construction and oil & gas among others. Furthermore, rising investment in mining projects in developing economies with high mineral reserves such as Middle East and Africa, Asia Pacific and Latin America is propelling the market growth. The demand for stemming blasting plugs from construction & quarrying is projected to witness highest growth over the forecast period, mainly fueled by the increasing construction and development activities in Asia.
In 2016, Asia Pacific dominated the global stemming blasting plugs market with 42.9% share in terms of revenue. It is also projected to be the fastest growing market over the next six years owing to increasing consumption of metals and other construction materials. Furthermore, high investment in economies such as Malaysia, Australia and China among others is another factor projected to augment demand. Asia Pacific was followed by North America and Europe. High investment in the U.S. on metal and mineral extraction is the major factor propelling the utilization of stemming blasting plugs in the region. Europe is projected to witness below average growth rate over the forecast period of 2017 to 2025 owing to stringent environmental regulations. However, increasing mining activities in various countries of Eastern Europe and presence of large multinationals is projected to have a positive impact on demand over the next six years.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Blasting Stemming Plugs market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
End Use
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
