Summary

Global Firefighting Foam Market is expected to grow at a significant rate of around 4% during the forecast period. 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.

Johnson Controls International, Dr. Sthamer, SFFECO Global, DIC Corporation, Dafo Fomtec AB, Angus Fire, Kerr Fire, Perimeter Solutions, National Foam, and Chemguard are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst type, aqueous film forming foam (AFFF) category to witness robust CAGR during the forecast period”
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.

“Amongst end-user, the oil and gas segment to hold a significant share in the market in 2020”
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.

“APAC to grow at a substantial CAGR during the forecast period”
In 2020, 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 a 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.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The Global Firefighting Foam Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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