The Global ANFO Explosives Market was valued at USD 2.49 Billion in 2025 and is projected to reach USD 3.43 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period (2024–2034). This growth is underpinned by sustained demand from the mining and construction sectors, particularly in the Asia-Pacific region. In 2025, global ANFO explosives production reached approximately 4.71 million tons, with the market propelled by the material’s cost-effectiveness and high explosive velocity ideal for large-scale operations like open-pit mining.

As the industry navigates increased regulatory scrutiny following major safety incidents, the focus is shifting toward safer handling practices and technological upgrades. Leading companies are responding with innovations in ammonium nitrate management, advanced detonation systems, and specialized explosive formulations. In this blog, we profile the Top 10 Companies in the ANFO Explosives Industry—a mix of global giants and specialized manufacturers shaping the future of bulk industrial explosives.

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🔟 1. Orica Limited

Headquarters: Melbourne, Victoria, Australia
Key Offering: Bulk ANFO, Emulsions, Electronic Blasting Systems

Orica is the world’s largest provider of commercial explosives and blasting systems. The company serves mining, quarrying, and construction customers in over 100 countries. Orica’s expertise in bulk ANFO delivery systems and its investment in digital blasting technologies position it as a market leader.

Innovation & Safety Initiatives:

• Development of WebGen™ wireless blasting technology

• Advanced bulk emulsion and ANFO manufacturing processes

• Global focus on reducing carbon footprint in blasting operations

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9️⃣ 2. Dyno Nobel

Headquarters: Salt Lake City, Utah, USA (Part of Incitec Pivot Limited)
Key Offering: DynoNFX™ ANFO, Emulsions, Bulk Delivery Systems

Dyno Nobel is a major global explosives manufacturer with a significant presence in North America, Latin America, and Asia-Pacific. The company offers a comprehensive range of ANFO products and specialized bulk delivery trucks for on-site mixing and loading.

Innovation & Safety Initiatives:

• Proprietary DynoNFX™ formulation for enhanced performance

• Investment in safer ammonium nitrate prill technology

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8️⃣ 3. Enaex

Headquarters: Santiago, Chile
Key Offering: ANFO, Bulk Emulsions, Blasting Services

Enaex is a leading Latin American explosives company with a strong footprint in the copper mining industry. The company provides integrated blasting services and manufactures a wide range of explosives, including specialized ANFO for challenging mining conditions.

Innovation & Safety Initiatives:

• Strategic partnership with Sasol for ammonium nitrate supply

• Development of Sitech integrated service model

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7️⃣ 4. MAXAM

Headquarters: Madrid, Spain
Key Offering: ANFO, Industrial Explosives, Initiating Systems

MAXAM is a global technology company specializing in the energy materials sector. With operations in over 50 countries, MAXAM provides advanced blasting solutions for mining, quarrying, and civil engineering, with a strong portfolio of ANFO and heavy ANFO products.

Innovation & Safety Initiatives:

• Focus on R&D for safer and more efficient explosives

• Digital blasting and vibration control technologies

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6️⃣ 5. AECI

Headquarters: Johannesburg, South Africa
Key Offering: ANFO, Emulsions, Bulk Explosives

AECI, through its AEL Mining Services division, is a leading supplier of explosives and initiating systems in Africa and select international markets. The company specializes in bulk explosives delivery systems tailored for African mining conditions.

Innovation & Safety Initiatives:

• IntelliBlast® digital blasting solutions

• Expansion of manufacturing capacity across Africa

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5️⃣ 6. Hanwha Corporation

Headquarters: Seoul, South Korea
Key Offering: Industrial Explosives, ANFO, Defense Products

Hanwha Corporation is a major South Korean industrial conglomerate with a significant explosives division. The company supplies ANFO and other industrial explosives to the domestic and Asian markets, with a growing international presence.

Innovation & Safety Initiatives:

• Investment in automated manufacturing facilities

• R&D for improved explosive performance and safety

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4️⃣ 7. BME (Bulk Mining Explosives)

Headquarters: Johannesburg, South Africa (Part of Omnia Group)
Key Offering: ANFO, Bulk Emulsions, Blasting Services

BME is a leading manufacturer and supplier of bulk explosives, blending systems, and related services in Africa and beyond. The company is known for its integrated blasting solutions and strong presence in the African mining sector.

Innovation & Safety Initiatives:

• A-Range™ emulsions and ANFO formulations

• Electronic detonator systems and blast design software

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3️⃣ 8. EPC Groupe

Headquarters: Nancy, France
Key Offering: ANFO, Industrial Explosives, Demolition Products

EPC Groupe is a European leader in explosives for civil engineering, mining, and demolition. The company has a strong focus on safety and technological innovation, providing specialized ANFO products for various European infrastructure projects.

Innovation & Safety Initiatives:

• Development of eco-friendly explosive formulations

• Advanced blast modeling and vibration control

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2️⃣ 9. Solar Group

Headquarters: Kolkata, India
Key Offering: ANFO, Explosives, Initiating Systems

Solar Group is a major Indian industrial explosives manufacturer serving the mining, infrastructure, and defense sectors. The company has a significant market share in India and exports to various international markets.

Innovation & Safety Initiatives:

• Expansion of manufacturing capacity in India

• Development of site mixed slurry and ANFO systems

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1️⃣ 10. Austin Powder

Headquarters: Cleveland, Ohio, USA
Key Offering: ANFO, Emulsions, Specialty Explosives

Austin Powder is one of the oldest explosives companies in the United States, with a history dating back to 1833. The company manufactures a full range of industrial explosives, including ANFO, for mining, construction, and quarrying applications across North America.

Innovation & Safety Initiatives:

• Red Diamond® ANFO and emulsion products

• Emphasis on safety training and regulatory compliance

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🌍 Outlook: The Future of ANFO Explosives is Safer and Smarter

The ANFO explosives market is undergoing a significant transformation driven by technological innovation and stringent safety regulations. While traditional ANFO remains the workhorse of bulk explosives due to its cost efficiency, the industry is increasingly adopting digital blasting systems and enhanced safety protocols to mitigate risks associated with ammonium nitrate handling.

📈 Key Trends Shaping the Market:

• Accelerated adoption of electronic detonators for precision blasting

• Stringent global regulations on ammonium nitrate storage and transport

• Growth in infrastructure development projects across emerging economies

• Integration of IoT and digital technologies for blast optimization

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ANFO Explosives Market – View in Detailed Research Report

The companies listed above are not only supplying essential explosives for global resource extraction and infrastructure development—they’re leading the technological evolution toward safer and more efficient blasting operations worldwide.