Firefighting Foam Market Develop at a CAGR of 3.80% During The Forecast Period
According to Custom Market Insights (CMI), The Global Firefighting Foam Market size was estimated at USD 5.5 billion in 2021 and is expected to hit around USD 6.73 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 3.8% from 2022 to 2030.
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.
Browse the full “Firefighting Foam Market Size, Trends and Insights 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), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/firefighting-foam-market/
Market Dynamics
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.
Restraints
However, 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.
Opportunities
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. Moreover, the firefighting foam market growth is boosted owing to the increase in energy, aviation, petrochemical, and mining activities across the globe. The significant increase in fire-related accidents, especially in the oil & gas industry, surged demand for safety measures such as firefighting foam, driving the market growth and offering new opportunities for the market forecast period.
Challenges
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.
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Regional Snapshots
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.
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
Table of Contents: https://www.custommarketinsights.com/report/firefighting-foam-market/#table-of-contents
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