(MENAFN- GlobeNewsWire - Nasdaq) Technological innovation is enabling key players to prepare fluorine-free foams, thereby creating a safe environment for firefighters. This can spur the effectiveness of firefighting foams
Wilmington, Delaware, United States, Transparency market Research. Inc., July 04, 2024 (GLOBE NEWSWIRE) -- The last recorded value of the global firefighting foam market was USD 815.4 million in 2023. Owing to the sluggish development occurring at a CAGR of 3.8% through the forecast period, the industry is expected to reach USD 1.2 billion by 2034.
Due to different materials and properties of such materials, fire incidences are increasing across the world. The hazards that such fire outbreaks can cause are numerous. This can cause wealth as well as livestock loss.
Such hazards must be prevented using appropriate techniques and tools so that no human or any living organism is affected due to such events. To cater to such a growing demand, various products and methods have been introduced in the competitive space, which leverages the fire extinguishing process.
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Firefighting foams can extinguish the fire by cutting off the oxygen supply. With excellent efficiency in terms of time to die out the fire, foams can leverage better negotiating with threats.
To cater to all fire outbreaks caused due to flammable liquids, synthetic foams are used. Due to the ability of such foams to mitigate risks associated with such an outbreak, the popularity of such foams is expected to gain more traction in different end-user industries.
The expansion ratio of foams could vary depending on the foam proportioning and discharge devices. Such foams can cater to the varying severity of the fire, thereby differentiating different categories based on varying uses of foams.
With the growing emphasis on maintaining workplace safety, commercial uses of foams are likely to surge in the future. Regulatory norms and policy designs for arresting mishaps caused due to fire are adding to the demand for foams.
Due to the growing technological infrastructure, the possibility of augmentation of products in the competitive landscape is higher. Key players in the industry are innovating, and elevating the efficiency of firefighting foams. As a result, the popularity of such foams is increasing.
Government grants and subsidies for research and development are driving the process of product augmentation. Due to this, the scope of application of such foams is likely to spur, driving the demand in various end-user segments. This is a key factor, which drives the global competitive landscape of the firefighting foam market.
Key Findings from the Market Report
The competitive landscape of the global firefighting foam market can be segmented based on different categories. Based on the type of foam used, the sector's Aqueous film-forming foam is likely to gain traction in the shipboard and shore applications. Depending on the material type, due to the growing number of fire cases due to electric short-circuiting, the Class C category is expected to gain more popularity in the industry. With the rising cases of kitchen fires, the demand for the Class K category is expected to spur. Based on the application, the oil and gas industry is expected to seek the highest number of applications of such foams.
Competitive Landscape
Pertaining to market expansion, key players in the industry are expected to grow using different strategies, including product innovation, mergers, acquisitions, and many more.
Johnson Controls is a key player that offers Building Automation Systems, HVAC Controls, Air Handling, Air Distribution, and many other solutions. Solvay operates in different industries, including agriculture, feed and food, automotive, building and construction, consumer goods and healthcare, and electronics. Chemguard is another player offering foam chambers, proportioning equipment, and so on.
Key Players
Johnson Controls Solvay Chemguard National Foam Angus Fire Buckeye Fire Equipment Company Dafo Fomtec AB Sthamer Kerr Fire
Key Developments in the Firefighting Foam Market
In April 2024, Solvay initiated a new blowing agent production unit in Rosignano, Italy . This enhanced the global presence of the organization. In June 2024, Johnson Controls sold Air Distribution Technologies Business to Truelink Capital. This increased franchises in the market.
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Regional Profile
Due to the developing oil and gas industry in the Middle East and Asia-Pacific regions , the demand for firefighting foams is expected to rise in such regions. With the growing infrastructure to support firefighting equipment, Europe will likely create more prospects for leading organizations in the market . Technological infrastructure in North America will develop more prospects for innovation in the indust ry, thereby driving the competitive space.
Market Segmentation
By Type
Aqueous Film Forming Foam (AFFF) Alcohol-resistant Aqueous Film Forming Foam (AR-AFFF) Fluoroprotein Foam (FP) Protein Foam (P) Synthetic Foam (S) High-expansion Foam (HEF) Medium-expansion Foam (MEF) Low-expansion Foam (LEF) Film-forming Fluoroprotein Foam (FFFP) Alcohol-resistant Film-forming Fluoroprotein Foam (AR-FFFP) Others
By Material Type
Class A (Solid Materials) Class B (Liquid & Gas Fires) Class C (Electrical Fires) Class D (Metal Fires) Class K (Kitchen Fires)
By Application
Oil & Gas Chemicals & Petrochemicals Aviation Marine & Offshore Warehouses & Storage Facilities Residential & Commercial Buildings Transportation (Road & Rail) Military & Defense Manufacturing Facilities Others
By Region
North America Europe Asia Pacific Latin America Middle East & Africa
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