PORTLAND, Oregon and PUNE, India, November 23, 2016 /PRNewswire/ -- Industrial Explosives Market by type (High Explosives, ANFO, Emulsions and Others), end-use industry (Metal Mining, Non-Metal Mining, Quarrying, Construction and Others) is projected to reach $15,888 million by 2022, growing at a CAGR of 6.7% from 2016 to 2022, according to a new report by published by Allied Market Research. Mining segment dominated this market, occupying more than four-fifths share of the market revenue in 2015. (Logo: http://photos.prnewswire.com/prnh/20140911/647229 ) The market for industrial explosives is on a continuous rise due to rapid increase in mining activities, especially in the developing economies globally. Moreover, increase in demand for earth minerals, such as bauxite, iron ore, coal, and rare earth metals, such as gold and silver, is a key factor fueling the market growth. In addition, growth in use of industrial explosives, especially in the construction industry for tunneling and other applications, along with increase in inclination of construction professionals toward the use of industrial explosives to save time and labor costs drive the growth of the market. Get access to detailed report at:https://www.alliedmarketresearch.com/industrial-explosives-marketThe prices for high explosives were high as compared to other industrial explosives in 2015; however, the prices are expected to witness a significant drop by 2022 due to increase in innovations in the manufacturing of high explosives Furthermore, initiatives by governments of various economies to tap rich underground mineral resources to achieve pace in the ever-growing competition and higher GDP are some of the factors that accelerate the market growth. However, fluctuating prices of ammonia along with stringent regulations on the storage and transportation of industrial explosives along with high initial costs required for the manufacture of industrial explosives are some of the key factors that hamper the market growth. Moreover, maintenance & aging costs and compliance with quality, specifications, and testing are some major factors that hinder the growth of the market.