Firefighting Foam Market to experience an impressive growth of 5.2% during 2020-2025
January 28, 2020
Firefighting Foam Market is likely to witness an impressive CAGR of 5.2% during the forecast period. Increasing use of environmentally-friendly products and rise in fire-related accidents leading to fatalities and loss of property are the major factors expected to drive the growth of the global firefighting foam market during the forecast period.
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Firefighting Foam Market Segment Insights:
By Type:
Based on the type, the market is segmented as aqueous film forming foam (AFFF), alcohol resistant aqueous film forming foam (AR-AFFF), protein foam, synthetic detergent foam (High & Mid Expansion Foam), and others. The demand for AFFF was the highest in 2018, owing to its extensive usage by the oil & gas industry, which is due to the huge risk of fires from flammable liquids. AFFF is favored as it owns such fires effectively and bears a longer shelf life.
By End-Use Industry Type:
Based on the end-use industry type, the market is segmented as oil & gas, aviation, marine, mining, and others. The oil & gas end-use industry is the largest consumer of firefighting foam. This high consumption is on account of the grave risk of fire accidents and the efficiency of firefighting foam in fighting out such fire outbreaks.
By Region:
In terms of regions, Asia-Pacific is the largest and fastest-growing market for firefighting foam and is estimated to maintain its dominance during the forecast period as well. The market is driven by various countries, adopting downstream activities, such as refining and processing because of the increasing demand for oil & gas in the region. Further, the enormous investments by various national oil companies in the region are boosting the growth of the oil & gas industry and hence, these factors are underpinning the demand for firefighting foam in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities in the coming five years.
Key Players:
Some of the major players in the firefighting foam market are Angus Fire Limited, Auxquimia, Buckeye Fire Equipment Company, Bavaria Egypt S.A.E., Dafo Fomtec AB, Fireade Inc., Johnson Controls International PLC., KV Fire Chemicals Pvt. Ltd., and Oil Technics (Fire Fighting Products) Ltd.
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- Attractive market segments and associated growth opportunities
- Emerging trends
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- Key success factors
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