Blasting Stemming Plugs Market Size, Research, Analysis

Global Blasting Stemming Plugs Market to be Grow at a CAGR of ~5% during 2022 – 2031 on the Account of Growing Construction Contracts Globally

 

Kenneth Research, the division of Research Nestor, recently released a research report entitled Blasting Stemming Plugs Market: Global Demand Analysis & Opportunity Outlook 2031which delivers detailed overview of the global blasting stemming plugs market in terms of market segmentation by material type, end users, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market

Access full Report Description: https://www.kennethresearch.com/report-details/blasting-stemming-plugs-market/10094810

The global blasting stemming plugs market catered an approximate revenue figure of USD 502 million in the year 2021 and is estimated to grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. On the basis of material type, the market is segmented into crushed stone chips, coarse sand, fast hardening concretes, and others. Out of these, the crushed stone chips segment is anticipated to hold the largest market share in value by growing at a significant CAGR during the forecast period. The growth of the segment can be associated with rising demand for stemming material, increasing construction contracts, and growing prevalence of mining industry. 

The core use of blasting stemming plugs is to improve the effectiveness of stemming material in the blasthole. This results in better explosive energy to enhance the process of fragmentation. The global blasting stemming plugs market is anticipated to be majorly driven by factors such as increasing construction contracts, rising investment in mining projects, growing demand for metals, and increasing industrial base.

Based on region, the global blasting stemming plugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. The market in Asia Pacific region is expected to grow at a moderate CAGR over the forecast period on the account of availability of mineral resources and growing population in the region. Furthermore, the market in Middle East & Africa is expected to grow at a faster CAGR over the forecast period on the back of rising mining activities in the region and the availability of oil resources in the region.  

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Growing Mining Industry to Add in the Growth of the Global Blasting Stemming Plugs Market

The mining industry is the primary user of blasting stemming plugs as it helps in preventing the cost of mining by reducing the energy requirement. The investments and initiatives taken by government along with the increasing foreign direct investments (FDI) in the mining industry is expected to show notable growth in the upcoming years. As per the National Mining Association, natives of America use nearly 3.4 tons of coal and around 40,000 pounds of newly mined materials each year. The increasing prevalence of the industry is expected to majorly drive the growth of global blasting stemming plugs market.

However, regulations for saving the environment, and poor health coverage for workers are expected to operate as key restraint to the growth of global blasting stemming plugs market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global blasting stemming plugs market which includes company profiling Advanced Blasting Technology Inc., Peri Nitrates Pvt. Ltd., Stemlock, Inc., AMA Group, MOCAP, PARAPLUG, TIME Limited, BME (OMINA Group Company), Maine Drilling and Blasting, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global blasting stemming plugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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Kenneth Research is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

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