Southern Asia: Explosives Market 2024

Explosives Market Size in Southern Asia

After four years of growth, the South Asian explosives market decreased by -1.5% to $X in 2021. Overall, consumption, however, recorded pronounced growth. Over the period under review, the market reached the peak level at $X in 2020, and then fell slightly in the following year.

Explosives Production in Southern Asia

In value terms, explosives production shrank to $X in 2021 estimated in export price. Overall, production, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 67%. The level of production peaked at $X in 2020, and then reduced slightly in the following year.

Explosives Exports

Exports in Southern Asia

In 2021, shipments abroad of prepared explosives increased by 6.5% to X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 43% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, explosives exports expanded rapidly to $X in 2021. Over the period under review, exports recorded strong growth. The growth pace was the most rapid in 2018 with an increase of 84%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons) represented roughly 100% of total exports in 2021.

India was also the fastest-growing in terms of the prepared explosives exports, with a CAGR of +4.7% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest explosives supplier in Southern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +11.1%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, leveling off at the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, explosives export price decreased by -7.9% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by 29% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +6.1% per year.

Explosives Imports

Imports in Southern Asia

In 2021, the amount of prepared explosives imported in Southern Asia surged to X tons, rising by 15% against the previous year's figure. Over the period under review, imports, however, continue to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2014 with an increase of 67%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, explosives imports fell rapidly to $X in 2021. In general, imports, however, showed a perceptible descent. The growth pace was the most rapid in 2018 with an increase of 25% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Nepal represented the main importer of prepared explosives in Southern Asia, with the volume of imports recording X tons, which was near 68% of total imports in 2021. Bhutan (X tons) took the second position in the ranking, distantly followed by Bangladesh (X tons). All these countries together held near 26% share of total imports. India (X tons) followed a long way behind the leaders.

Nepal was also the fastest-growing in terms of the prepared explosives imports, with a CAGR of +14.1% from 2012 to 2021. At the same time, Bangladesh (+13.4%) displayed positive paces of growth. India experienced a relatively flat trend pattern. By contrast, Bhutan (-16.0%) illustrated a downward trend over the same period. Nepal (+51 p.p.) and Bangladesh (+6.1 p.p.) significantly strengthened its position in terms of the total imports, while Bhutan saw its share reduced by -50.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Nepal ($X) and Bangladesh ($X) constituted the countries with the highest levels of imports in 2021, together comprising 84% of total imports.

Among the main importing countries, Nepal, with a CAGR of +11.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, shrinking by -29.1% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 152% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Bhutan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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