Firefighting Foam Market - New Actionable Insights 2023

 According to a new report published by UnivDatos Markets Insights, the Firefighting Foam Market was valued at more than USD 700 million in 2021 and is expected to grow at a CAGR of around 4% from 2022-2028. The analysis has been segmented into Type (Aqueous Film Forming Foam (AFFF), Alcohol-Resistant Aqueous Film Forming Foam (AR-AFFF), Protein Foam (PF), Synthetic Detergent Foam (Medium and High Expansion), and Others); End-User (Oil & Gas, Aviation, Petroleum & Petrochemical, Marine, Mining, and Others); Region/Country.

The Firefighting Foam Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the firefighting foam market. The firefighting foam market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the firefighting foam market at the global and regional levels.

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Market Overview

A Firefighting Foam is known as a stable mass of small, low-density, air-filled vesicles. It forms a permanent foam blanket that spreads over fuel and adheres to a variety of surfaces to prevent contact between fire and oxygen. In addition, unlike other extinguishing media such as dry chemicals, water, or carbon dioxide (CO2), fire extinguishing foam cools and separates flames from product surfaces, and suppresses and suffocates vapors, thereby reducing flammability and combustibility to extinguish the liquid. Hence, it is widely preferred in areas where flammable liquids are transported, processed, stored, and used as energy sources.

The Firefighting Foam Market is expected to grow at a steady rate of around 4% owing to the increasing use of environmentally friendly products and increasing fire-related accidents leading to casualties and loss of property. Major companies in the market offer firefighting foam for oil & gas applications with technologically advanced features. For instance, In April 2021, Johnson Controls launched Chemguard NFF 3×3 UL201 Foam Concentrate. This new, patent-pending, non-fluorinated foam (NFF) technology provides fast, effective fire suppression on most class B hydrocarbon and polar solvent fuel fires.

Some of the major players operating in the market include Johnson Controls International, Dr. Sthamer, SFFECO Global, DIC Corporation, Dafo Fomtec AB, Angus Fire, Kerr Fire, Perimeter Solutions, National Foam, and Chemguard.

COVID-19 Impact

Due to travel limitations and the projected dismal financial performance of market players in 2020, the spread of the COVID-19 pandemic has hurt the firefighting foam industry. Supply chain execution, regulatory and policy changes, labor reliance, working capital management, and liquidity and solvency management are all major concerns for Firefighting Foam manufacturers. Since the COVID-19 epidemic has considerably diminished by the beginning of 2021, a lot of businesses are resuming operations. In terms of demand and supply, China, as an automobile manufacturing powerhouse, is controlling the global automotive industry. China's supply shortages have triggered a chain reaction throughout the world.

The Global Firefighting Foam Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·        Based on type, the market is segmented into the aqueous film forming foam (AFFF), alcohol-resistant aqueous film forming foam (AR-AFFF), protein foam (PF), synthetic detergent foam (Medium and High Expansion), and others. The aqueous film forming foam (AFFF) category witnessed higher CAGR during the forecast period owing to its properties as a fire extinguishing agent consisting of fluororesin, fluorosurfactant, water-soluble polymer, and hydrocarbon surfactant. In addition, its high demand in the oil & gas industry due to the high risk of fires from flammable liquids. Moreover, these foams are suitable for immediate suppression of Class B fires, including fires involving polar solvents such as ketones and alcohol which is driving the growth of the market

·        On the basis of end-user, the market is categorized into oil & gas, aviation, petroleum & petrochemical, marine, mining, and others. Among these, the oil and gas segment to hold a significant share in the market in 2020. This is mainly because it is one of the largest consumers of firefighting foam in the market as this foam is widely used for Class B fires and is the best fire protection solution for fires caused due to flammable liquids. In addition, highly flammable liquids and gases can lead to serious property damage, environmental pollution, and serious fire hazards that are life-threatening. Hence, many oil well fires can lead to the loss of millions of barrels of crude oil per day, causing enormous economic losses. Hence, product demand from the oil and gas industry has increased in recent years which is escalating the growth of the market

Firefighting Foam Market Geographical Segmentation Includes:

·        North America (United States, Canada, and Rest of North America)

·        Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

·        Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

·        Rest of the World

APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasingly extensive use in the oil & gas industry which is the growing industry in this region. Additionally, the region has rapid growth in industries such as chemical, shipping, automotive, and aerospace in emerging economies such as China and India. Moreover, the APAC region accounts for most of the world's chemical production and is prone to fires due to unsafe workers. Furthermore, dry weather conditions have led to fire incidents in various countries in the region, with wildfires continuing to cause further damage to the environment, livelihoods, and economies which is driving the growth of the market in the region.

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The major players targeting the market include

·        Johnson Controls International

·        Dr. Sthamer

·        SFFECO Global

·        DIC Corporation

·        Dafo Fomtec AB

·        Angus Fire

·        Kerr Fire

·        Perimeter Solutions

·        National Foam

·        Chemguard

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the firefighting foam market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the firefighting foam market?

• Which factors are influencing the firefighting foam market over the forecast period?

• What are the global challenges, threats, and risks in the firefighting foam market?

• Which factors are propelling and restraining the firefighting foam market?

• What are the demanding global regions of the firefighting foam market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

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