U.S.: Explosive Market 2024

Explosive Market Size in the U.S.

After two years of growth, the U.S. explosive market decreased by -6.8% to $X in 2022. Overall, consumption, however, saw a prominent increase. Explosive consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Explosive Production in the U.S.

In value terms, explosive production fell to $X in 2022. The total output value increased at an average annual rate of +2.9% over the period from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 32%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Explosive Exports

Exports from the U.S.

In 2022, after two years of growth, there was significant decline in shipments abroad of explosives, when their volume decreased by -19.1% to X tons. Over the period under review, exports continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of 24%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, explosive exports dropped sharply to $X in 2022. In general, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for explosive exports from the United States, accounting for a 70% share of total exports. Moreover, explosive exports to Canada exceeded the volume sent to the second major destination, South Korea (X tons), ninefold. Mexico (X tons) ranked third in terms of total exports with a 3.6% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Canada amounted to -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+23.5% per year) and Mexico (-20.4% per year).

In value terms, Canada ($X) remains the key foreign market for explosives exports from the United States, comprising 27% of total exports. The second position in the ranking was taken by Mexico ($X), with a 12% share of total exports. It was followed by South Korea, with a 6.7% share.

From 2013 to 2022, the average annual rate of growth in terms of value to Canada amounted to -2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-12.7% per year) and South Korea (+13.1% per year).

Export Prices by Country

The average explosive export price stood at $X per ton in 2022, shrinking by -3.9% against the previous year. In general, the export price saw a mild slump. The most prominent rate of growth was recorded in 2019 an increase of 23% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+9.6%), while the prices for the other major destinations experienced mixed trend patterns.

Explosive Imports

Imports into the U.S.

In 2022, after nine years of growth, there was significant decline in supplies from abroad of explosives, when their volume decreased by -52.2% to X tons. Overall, imports, however, enjoyed pronounced growth. The growth pace was the most rapid in 2020 with an increase of 36% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then reduced markedly in the following year.

In value terms, explosive imports fell markedly to $X in 2022. In general, imports recorded a mild shrinkage. The growth pace was the most rapid in 2021 when imports increased by 26%. As a result, imports attained the peak of $X, and then contracted rapidly in the following year.

Imports by Country

Poland (X tons), Canada (X tons) and Mexico (X tons) were the main suppliers of explosive imports to the United States, with a combined 71% share of total imports. Germany, Sweden, Brazil, France, Norway and Russia lagged somewhat behind, together accounting for a further 18%.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +40.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) constituted the largest supplier of explosives to the United States, comprising 38% of total imports. The second position in the ranking was taken by Mexico ($X), with a 15% share of total imports. It was followed by Germany, with a 9.6% share.

From 2013 to 2022, the average annual rate of growth in terms of value from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-4.7% per year) and Germany (+0.4% per year).

Import Prices by Country

In 2022, the average explosive import price amounted to $X per ton, growing by 37% against the previous year. Overall, the import price, however, recorded a perceptible downturn. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+45.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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