(MENAFN- EIN Presswire) Custom Market Insights
The Firefighting Foam Market was at US$ 5.5 Billion in 2021 and is growing to approx US$ 6.73 Billion by 2030, with a CAGR growth of 3.8% between 2022 and 2030.
The Global Firefighting Foam Market was estimated at USD 5.5 Billion in 2021 and is anticipated to reach around USD 6.73 Billion by 2030, growing at a CAGR of roughly 3.8% between 2022 and 2030.
” - Custom Market InsightsAUSTIN, TEXAS, UNITED STATES, March 28, 2023/einpresswire.com / -- According to the study, The global firefighting foam market was estimated at USD 5.5 Billion in 2021 and is anticipated to reach around USD 6.73 Billion by 2030, growing at a CAGR of roughly 3.8% between 2022 and 2030.
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firefighting foam market : Overview
Firefighting foam is a mixture of water, air, and concentrates that suppress fire by forming a layer that shields fuel and oxygen. Firefighting foam is a stable mass of small air-filled bubbles with a lower density than gasoline, oil, and water. Foam comprises three materials: water, foam concentrate, and air. These ingredients form a homogenous foam blanket when mixed in an appropriate proportion.
Firefighting foams play an important role in controlling and extinguishing fires of flammable liquids. It is used to prevent the ignition and re-ignition of flammable liquids. It possesses various characteristics such as expansion ratio (foam ability), fire performance class, foam stability, and burn-back resistance. It has a wide range of applications in areas such as oil & gas, aviation, marine, mining, petroleum & petrochemical, ship & shipyard, warehouse, and airport.
Firefighting Foam Market: Growth Drivers
Customers' increasing demand for environment-friendly firefighting foams is expected to boost the market growth during the forecast period. Fluorine-free foams are environment-friendly and can perform better than their alternatives, such as AFFF and AR-AFFF. Environment-friendly foams are PFAS-free, PFOS-free, and PFOA-free. Thus, the manufacturer has increased its production capacities for fluorine-free firefighting foams. These factors are anticipated to increase the demand for firefighting foam in the market.
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Key Insights:
A) As per the analysis shared by our research analyst, the Firefighting Foam market is estimated to grow annually at a CAGR of around 3.8% over the forecast period (2022-2030).
B) In terms of revenue, the Firefighting Foam market size was valued at around USD 5.5 Billion in 2021 and is projected to reach USD 6.73 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Stringent government norms and regulation regarding firefighting foam use has hampered the market's growth. The rise in awareness and presence of PFOS and PFAS in firefighting foam contaminates the drinking water sources, which in turn leads to the introduction of acts and laws that restrict the use of fluorine-based firefighting foam, hampers the market growth.
D) The rise in demand for the oil & gas sector has significantly boosted the market growth where firefighting foams are used predominantly as safety measures. These factors are increasing the demand for the firefighting foam market in the upcoming years.
E) Over the forecast period, the absence of a standardized regulatory body globally for approval of firefighting foam is expected to obstruct market growth. The stringent regulations for producing foams are projected to challenge the firefighting foam market in 2022-2031.
Press Release For Firefighting Foam Market :
Regional Landscape
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the dominant Region in the firefighting foam market. Countries such as China, Japan, India, South Korea, and others countries have significant contributions to the growth of the firefighting foam market in the Region, China's bridge, aviation, marine, tunnel, and construction activity are expected to grow at a rapid pace owing to the rapid increase in population, industrialization, urbanization, and government support for the aviation, oil& gas, marine, and others has spurred the overall market growth.
Moreover, the growing number of fire accidents in factories and manufacturing plants across India is expected to surge the demand for firefighting foam in the Asia Pacific. For instance, according to a report published by India Brand Equity Foundation in June 2022, Oil demand in India is projected to register a 2x growth to reach 11 million barrels per day by 2045. Diesel demand in India is expected to double to 163 MT by 2029-30, with diesel and gasoline covering 58% of India's oil demand by 2045. These factors are creating new opportunities for firefighting foam.
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Key Players
Dr. STHAMER
3F
Angus Fire Ltd.
Bavaria Fire Fighting Solutions
BIO EX
Buckeye Fire Equipment Company
Dafo Fomtec AB
DIC Corporation
Eau & Feu
FIRECHEM
Johnson Controls
Kerr Fire
KV Fire Chemicals Pvt. Ltd
National Foam
Perimeter Solutions
SFFECO Global
The Firefighting Foam Market is segmented as follows:
By Types
Aqueous Film Forming Foam (AFFF)
Alcohol Resistant Aqueous Film Forming Foam (AR-FFF)
Protein Foam (PF)
Synthetic Detergent Foam (Medium and High Expansion)
By Application
Oil and Gas
Aviation
Marine
Mining
Warehouse
Others
By Geography
North America
The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa
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